The atrial fibrillation market size was valued at $1,825.8 million in 2020, and is projected to reach $3,370.7 million by 2030, registering a CAGR of 6.4% from 2021 to 2030. Atrioventricular fibrillation (AFib) is a disorder, in which the heart's upper chambers (atria) beat quickly and erratically (fibrillate). Blood can accumulate and clot in the left atrial appendage of the heart as a result of AFib. A stroke can occur when a blood-clot escapes from the left atrial appendage (LAA) and transfers to another parts or organs of the body. Atrial fibrillation can increase the risk of heart stroke, induce chest discomfort, or even trigger a heart attack, especially if the heart beat is extremely rapid, and can produce blood clots in the heart that spread to other organs.
The global atrial fibrillation market is expanding along with the increase in the ageing population. In addition, high blood pressure, obesity, and diabetes result in the increase in occurrence of atrial fibrillation in the geriatric population. According to the Centers for Disease Control and Prevention (CDC) estimates of the prevalence of AFib in the U.S. ranges from about 2.7 million to 6.1 million. That number is estimated to rise to 12.1 million in 2030. Such factors are expected to increase the demand for atrial fibrillation devices during the forecast period. Furthermore, technical advancements in surgical devices for atrial fibrillation propel the atrial fibrillation market forward. However, problems such as expensive atrial fibrillation treatment costs and costly medical devices are expected to hamper the market expansion.
Moreover, technological advancements force key players to introduce atrial fibrillation monitoring and devices in the medical and pharmaceutical sectors. For instance, in February 2020, Janssen Pharmaceutical Companies of Johnson & Johnson collaborated with Apple Inc. and introduced Heartline Monitor. It improves health outcomes, such as lowering the risk of stroke, by detecting atrial fibrillation (AFib) earlier.
The market is segmented on the basis of type, technology, end user and geography. On the basis of type, it is divided into surgical and non-surgical. On the basis of technology, it is divided into radiofrequency, laser, cryotherapy, and others. On the basis of end user, the market is segmented into hospitals, specialty clinics, and others. Region-wise, the market analysis is conducted across North America (the U.S., Canada, and Mexico), Europe (the UK, France, Germany, Italy, and Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, and Rest of Asia-Pacific), and LAMEA (Latin America, the Middle East, and Africa).
The key players operating in the global atrial fibrillation market are Abbott Laboratories, Johnson & Johnson, MicroPort Scientific Corporation, Boston Scientific Corporation, Medtronic plc, Biotronik SE & Co. KG, Philips N.V., Siemens AG, AtriCure Inc., and CardioFocus, Inc.
The global atrial fibrillation market is expanding along with the increase in the ageing population. In addition, high blood pressure, obesity, and diabetes result in the increase in occurrence of atrial fibrillation in the geriatric population. According to the Centers for Disease Control and Prevention (CDC) estimates of the prevalence of AFib in the U.S. ranges from about 2.7 million to 6.1 million. That number is estimated to rise to 12.1 million in 2030. Such factors are expected to increase the demand for atrial fibrillation devices during the forecast period. Furthermore, technical advancements in surgical devices for atrial fibrillation propel the atrial fibrillation market forward. However, problems such as expensive atrial fibrillation treatment costs and costly medical devices are expected to hamper the market expansion.
Moreover, technological advancements force key players to introduce atrial fibrillation monitoring and devices in the medical and pharmaceutical sectors. For instance, in February 2020, Janssen Pharmaceutical Companies of Johnson & Johnson collaborated with Apple Inc. and introduced Heartline Monitor. It improves health outcomes, such as lowering the risk of stroke, by detecting atrial fibrillation (AFib) earlier.
The market is segmented on the basis of type, technology, end user and geography. On the basis of type, it is divided into surgical and non-surgical. On the basis of technology, it is divided into radiofrequency, laser, cryotherapy, and others. On the basis of end user, the market is segmented into hospitals, specialty clinics, and others. Region-wise, the market analysis is conducted across North America (the U.S., Canada, and Mexico), Europe (the UK, France, Germany, Italy, and Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, and Rest of Asia-Pacific), and LAMEA (Latin America, the Middle East, and Africa).
The key players operating in the global atrial fibrillation market are Abbott Laboratories, Johnson & Johnson, MicroPort Scientific Corporation, Boston Scientific Corporation, Medtronic plc, Biotronik SE & Co. KG, Philips N.V., Siemens AG, AtriCure Inc., and CardioFocus, Inc.
Key Benefits For Stakeholders
- The report provides an extensive analysis of the current and emerging atrial fibrillation market trends and dynamics.
- In-depth atrial fibrillation market analysis is conducted by constructing market estimations for key Market Segment between 2021 and 2030.
- Extensive analysis of the atrial fibrillation market is conducted by following key product positioning and monitoring of top competitors within the market framework.
- A comprehensive analysis of all the regions is provided to determine the prevailing opportunities.
- The global atrial fibrillation market forecast analysis from 2021 to 2030 is included in the report.
- The key players within atrial fibrillation market are profiled in this report and their strategies are analyzed thoroughly, which help understand the competitive outlook of the atrial fibrillation industry.
Key Market Segments
BY TYPE
- Surgical
- Non-Surgical
BY TECHNOLOGY
- Radiofrequency
- Laser
- Cryotherapy
- Others
BY END USER
- Hospitals
- Specialty Clinics
- Others
BY REGION
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- UK
- Italy
- Rest of Europe
- Asia-Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia-Pacific
- LAMEA
- Latin America
- Middle East
- Africa
Key Market Players
- Johnson & Johnson
- MicroPort Scientific Corporation
- Boston Scientific Corporation
- st. jude medical
- Medtronic plc
- Abbott Laboratories
- Biotronik SE & Co. KG
- Koninklijke Philips N.V.
- Siemens AG
- AtriCure Inc
Table of Contents
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: ATRIAL FIBRILLATION MARKET, BY TYPE
CHAPTER 5: ATRIAL FIBRILLATION MARKET, BY TECHNOLOGY
CHAPTER 6: ATRIAL FIBRILLATION MARKET, BY END USER
CHAPTER 7: ATRIAL FIBRILLATION MARKET, BY REGION
CHAPTER 8: COMPANY LANDSCAPE
CHAPTER 9: COMPANY PROFILES
LIST OF TABLES
LIST OF FIGURES
Executive Summary
According to this report titled, 'Atrial Fibrillation Market,' the atrial fibrillation market size was valued at $1,825.85 million in 2020, and is estimated to reach $3.4 Billion by 2030, growing at a CAGR of 6.4% from 2021 to 2030.Atrial fibrillation is a type of irregular heartbeat characterized by rapid and irregular beating. Blood may clot and congest in the atria at the same time because of insufficient blood received by ventricles. These clots can enter the circulation and reach the brain, causing stroke. The transmission of electrical impulses to the lower heart chambers is disrupted in atrial fibrillation, which causes a rapid, slow, or irregular heartbeat. During atrial fibrillation, upper chamber and lower chamber of the heart beat irregularly, chaotically, and out of sync, which causes shortness of breath, chest pain, weakness, ad lightheadedness or fainting.
Numerous technical improvements in the treatment and diagnostics of atrial fibrillation, as well as the rise in prevalence of atrial fibrillation in the senior population, are major drivers of atrial fibrillation industry. However, market expansion is hampered by problems, such as strict government laws, expensive treatment costs for atrial fibrillation, and shortage of experienced specialists and technicians.
Key players focus on expanding their portfolio by introducing technologically developed products, which re expected to help reduce the risk of stroke and atrial fibrillation in patients. For instance, in April 2021, ArtiCure, Inc., a major pioneer in atrial fibrillation (Afib) therapy introduced Epi-Sense System, which is approved by the U.S. Food & Drug Administration (FDA). Epi-Sense System is used to treat patients with long-standing persistent cardiac arrhythmias or atrial fibrillation.
However, during the COVID-19 pandemic lockdown, various manufacturers in the atrial fibrillation market had to stop their business in countries, such as China, the U.S., and India, which negatively affected the atrial fibrillation market growth. This break directly impacted the sales and decline in atrial fibrillation market share. In addition, lack of manpower and raw materials also constricted supply of equipment of atrial fibrillation, which negatively influenced the growth of the market. However, reopening of production facilities and introduction of vaccines for COVID-19 are anticipated to lead to re-opening of atrial fibrillation companies.
Key findings of the Study
- The report provides an extensive analysis of the current and emerging atrial fibrillation market trends and dynamics.
- Depending on type, the surgical segment dominated the atrial fibrillation market, in terms of revenue in 2020 and is projected to grow at a significant CAGR during the forecast period.
- By technology, the radiofrequency segment registered highest revenue in 2020.
- By end user the hospitals segment registered highest revenue in 2020.
- Asia-Pacific is projected to register highest growth rate in the coming years.
- The report provides atrial fibrillation market forecast analysis from 2021 to 2030.
- Depending on type, the surgical segment dominated the atrial fibrillation market, in terms of revenue in 2020 and is projected to grow at a significant CAGR during the forecast period.
The report provides an extensive analysis of the current trends and emerging opportunities of the atrial fibrillation market size.
In-depth atrial fibrillation market analysis is conducted by constructing estimations for the key segments between 2021 and 2030.
The atrial fibrillation market share analysis from 2020 to 2030 is included in the report.
In-depth analysis of atrial fibrillation market size is conducted by constructing market estimations for regions and countries between 2020 and 2030.
The report includes atrial fibrillation market opportunity and comprehensive analysis of all the regions is provided to determine the prevailing opportunities.
Companies Mentioned
- Johnson & Johnson
- MicroPort Scientific Corporation
- Boston Scientific Corporation
- st. jude medical
- Medtronic plc
- Abbott Laboratories
- Biotronik SE & Co. KG
- Koninklijke Philips N.V.
- Siemens AG
- AtriCure Inc
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
LOADING...
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 180 |
| Published | March 2022 |
| Forecast Period | 2020 - 2030 |
| Estimated Market Value ( USD | $ 1825.8 million |
| Forecasted Market Value ( USD | $ 3370.7 million |
| Compound Annual Growth Rate | 6.3% |
| Regions Covered | Global |
| No. of Companies Mentioned | 10 |
