Newark, NJ, Sept. 28, 2020 (GLOBE NEWSWIRE) -- As per the report published by Fior Markets, the global atrial fibrillation surgery market is expected to grow from USD 1.7 billion in 2019 and to reach USD 5.20 billion by 2027, growing at a CAGR of 15% during the forecast period 2020-2027.
The global atrial fibrillation surgery market is witnessing significant growth from recent years. This growth is attributed to increasing healthcare expenditure, an increasing number of people suffering from atrial fibrillation, and a larger prevalence of catheter and surgical ablation treatments. Ambulatory surgical center, due to the availability of skilled labor, healthcare infrastructure, and availability will influence the market. Growing cases of heart patients and a rise in the number of cases of atrial fibrillation will propel the market growth.
Atrial fibrillation surgery is a surgical procedure used for the treatment of irregular rhythm, which starts in the uppermost chamber of the heart (atria). It is also called as AFib or AF. Atrial fibrillation escalates the risk of stroke five to seven times. The different types of surgery used to treat atrial fibrillation are ablation surgeries, atrioventricular node ablation, and maze procedure. Atrial fibrillation is a type of cardiac ablation that works by destroying or scarring tissues in the heart to disrupt faulty electric signals that give rise to arrhythmia. In atrial fibrillation, an electrical signal which coordinates with the two chambers of the heart does not work together, which in turn causes the heart to contract erratically. This results in the heart to beat too fast or too slow, or even irregularly.
The global atrial fibrillation surgery market is expected to witness significant growth, owing to the increasing heart problems among the aging population, expanding pharmacies and drug stores, increasing awareness about different treatments, and positive outcomes of atrial fibrillation devices. However, stringent product approval regulations and high cost of the treatment will hamper the market growth. The factor providing market growth opportunity is the increased prevalence of obesity.
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Some of the key players operating in global atrial fibrillation surgery market are AtriCure Inc., Sanofi-Aventis, Johnson & Johnson Ltd., Boston Scientific Corporation, CardioFocus Inc., Boehringer Ingelheim GmbH., Biosense Webster Inc., Endoscopic Technologies Inc., Bristol-Myers Squibb Corporation, and St. Jude Medical Inc. To gain a significant market share in the global atrial fibrillation surgery market, the key players are now focusing on adopting strategies such as product innovations, mergers & acquisitions, recent developments, joint venture, collaborations, and partnership. Johnson & Johnson and CardioFocus Inc. are the key players operating in atrial fibrillation surgery.
- For instance, In May 2020, CardioFocus Inc. HeartLight X3 Endoscopic ablation system was approved by US FDA for the treatment of drug-refractory recurrent symptomatic paroxysmal atrial fibrillation.
Catheter Ablation Procedure segment dominated the market and held the largest share of 41.7% in the year 2019
On the basis of surgical procedure, the global atrial fibrillation surgery market is segmented into catheter ablation procedure, surgical ablation, and maze procedure. Catheter ablation procedure segment dominated the market and held the largest share of 41.7% in the year 2019. This growth is attributed to growing patient awareness, increasing demand for non-pharmaceutical treatments, and improved healthcare groundwork.
Catheter Ablation product segment dominated the market and held the largest share of 54.9% in the year 2019
On the basis of product, the global atrial fibrillation surgery market is segmented into catheter ablation and surgical ablation. Catheter ablation product segment dominated the market and held the largest share of 54.9% in the year 2019. This growth is attributed to the high acceptance of the product in surgical procedures.
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Regional Segment of Atrial Fibrillation Surgery Market
- North America (U.S., Canada, Mexico)
- Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
- Asia-Pacific (China, Japan, India, Rest of APAC)
- South America (Brazil and Rest of South America)
- Middle East and Africa (UAE, South Africa, Rest of MEA)
On the basis of geography, the global atrial fibrillation surgery market is classified into North America, Europe, Asia-Pacific, Middle East & Africa, and South America. North America held the major share of 34.2% in the year 2019. This growth was attributed to the presence of high procedure volumes supported by the presence of sophisticated healthcare infrastructure, healthcare expenditure levels, and high awareness among patients. In the region, the U.S. holds the largest share, owing to the large number of people suffering from the country's disease and the rising number of geriatric population. The European market holds the second-largest share, owing to the growing elder population and high prevalence of atrial fibrillation. In the European region, the U.K. holds the largest share, owing to the rising healthcare awareness and rising incidences of atrial fibrillation. Germany is anticipated to witness significant growth, owing to the adoption of the latest technologies. The Asia-Pacific region market is projected to witness significant growth, owing to the large number of geriatric population who has a high risk of heart diseases. Due to the presence of a huge patient pool and rising healthcare expenditure, China holds the largest share in the Asia-Pacific region. Brazil is the leading nation in the Latin America region due to the development of the healthcare sector.
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About the report:
The global atrial fibrillation surgery market is analysed on the basis of value (USD billion). All the segments have been analysed on global, regional and country basis. The study includes the analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insights of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, and competitors’ position grid analysis.
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