Atrial Fibrillation Market Size & Share to Surpass $38.9 Billion by 2028 | Vantage Market Research

WASHINGTON, March 27, 2023 (GLOBE NEWSWIRE) -- The global Atrial Fibrillation Market was valued at USD 17.5 Billion in 2022 and is projected to reach a value of USD 38.9 Billion by 2030 at a CAGR (Compound Annual Growth Rate) of 12.1% over the forecast period 2022-2030.

Market Overview

The prevalence of Atrial Fibrillation in the elderly population is rising, technology breakthroughs have been made, and catheter ablation for cardiac arrhythmia therapy is becoming more popular, all contributing to the Atrial Fibrillation market growth. The global Atrial Fibrillation market is growing due to the rising incidence of strokes, head trauma, Atrial Fibrillation brought on by blood clots, and the growing older population.

We forecast that the hospital's category in Atrial Fibrillation market sales will account for more than 52% of total sales by 2028. Most patients are treated in hospitals, and the availability of more competent professionals, such as skilled cardiologists, doctors, and hospital professionals, has simplified and made it easier to execute procedures for the diagnosis and treatment of Atrial Fibrillation.

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Market Dynamics

Expanded Advanced Technology will Increase to Support Market Expansion
The market is expected to continue to rise due to technological advancements in microwave catheter ablation and radiofrequency, and the rising prevalence of illnesses brought on by unhealthy lifestyle choices, including drinking and smoking. Digital innovation is driving the market expansion of Atrial Fibrillation. Important players produce enhanced catheter ablation for treating Atrial Fibrillation and reducing patients' risk of stroke.

Increase in Developed Treatments to Drive the Market Growth
When medication is ineffective, catheter ablation is used to treat abnormal heartbeats. It is a percutaneous, low-risk approach for treating cardiac arrhythmias. The aberrant cardiac tissues that are the source of irregular heartbeats are removed using catheter ablation technology. Balloon ablation has a 95 percent success rate in treating cardiac arrhythmias. The large rise in the frequency of Atrial Fibrillation (AFib) can be linked to some factors, including the aging of the global total, the prolonged longevity of people with heart disorders that increase their risk of developing the illness, and the rising prevalence of AFib risk factors like overweight and hypertension in the global population at risk.

Top Players in the Global Atrial Fibrillation Market

  • Johnson & Johnson (New Brunswick, United States)
  • MicroPort Scientific Corporation (China)
  • Boston Scientific Corporation (Marlborough, United States)
  • St. Jude Medical (Saint Paul, United States)
  • Medtronic PLC (Dublin, United States)
  • Abbott Laboratories (Chicago, United States)
  • Biotronik SE & Co. KG (Berlin, Germany)
  • Koninklijke Philips N.V. (Netherlands)
  • Siemens AG (United States)
  • AtriCure Inc. (United States)

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Top Trends in Global Atrial Fibrillation Market   

  • One trend that Vantage Market Research (VMR) expects to see in the Atrial Fibrillation industry is the increase in the elderly population. A rise in the prevalence of Atrial Fibrillation in the aging population, technological advancements, and a propensity for catheter ablation as a cardiac arrhythmia therapy is driving the Atrial Fibrillation market's expansion. As a result, it aids in promoting market expansion.
  • Another trend that VMR predicts will continue in the Atrial Fibrillation industry is it's increased Increasing the approval of products is expected to drive market growth over the forecast period. Rising product acceptance is anticipated to fuel market expansion throughout the forecast period. The device provides prompt closure of the left atrial appendage (LAA), which lowers stroke risk and eliminates the immediate requirement for blood-thinning medicines in persons with AFib.

Top Report Findings

  • Based on Types, the Surgical category controls most of the Atrial Fibrillation market's revenue. The adoption of surgical type owing to a rise in the use of cardiovascular monitoring equipment for Atrial Fibrillation treatment. The need for cardiovascular monitors has increased as a consequence of the increase in people experiencing arrhythmia, or an abnormal heartbeat.
  • Based on the Technologies, most of the Atrial Fibrillation market's revenue is controlled by the Radio Frequency category. Because heat—which acts similarly to microwave radiation—is used in radiofrequency ablation to damage tissue, this is the case. Medical professionals could suggest this therapy if medicine is unable to control AFib. The cardiology program's specialists are knowledgeable in a range of Atrial Fibrillation ablation procedures and will work together to determine the most appropriate strategy for the specific patient.
  • Based on the End Users, most of the Atrial Fibrillation market's revenue is controlled by the Hospitals category. Increasing support for laparoscopic surgery, an expansion in catheter ablation procedures performed in hospital settings, accessibility to state-of-the-art healthcare facilities, and accessibility to state-of-the-art article care facilities.

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Recent Developments in the Global Atrial Fibrillation Market

  • April 2021- Tempus announced that the US Food and Drug Administration had designated the company's ECG Analysis Platform as a Breakthrough Device. The system, developed in collaboration with Geisinger, helps medical professionals spot people who are more likely to experience Atrial Fibrillation (AFib) or atrial flutter.
  • February 2021- The DiamondTemp Ablation (DTA) system, which treats patients with recurrent, symptomatic paroxysmal Atrial Fibrillation (AF) who have not responded to pharmaceutical treatment, received FDA clearance from Medtronic.

Hospitals Category in Atrial Fibrillation Market to Generate a Substantial amount of Revenue in the Forecast Period
For better understanding, based on the End Users, the Atrial Fibrillation market is divided into Hospitals, Specialty Clinics and Other End Users.

During the forecast period, the market for Atrial Fibrillation is anticipated to experience the highest CAGR for the Hospital's category. Due to the increased demands for minimally invasive surgery, the growing number of laser ablation procedures being conducted in medical settings, the supply of cutting-edge healthcare facilities, and the availability of cutting-edge comment care facilities. The hospital serves as a large percentage of doctors' primary point of care, and the growing availability of skilled professionals, including seasoned cardiologists, doctors, and medical staff, has made it simple and convenient to carry out guidelines for the evaluation and treatment of Atrial Fibrillation.

On the other hand, the Specialty Clinics category is anticipated to grow significantly. Specialty Clinics are undoubtedly becoming more popular in India since people today demand prompt attention to their health issues. Specialty clinics reduce the discomfort of driving to busy, remote major hospitals, and as a result, they have enjoyed favorable customer responses over the years.

North America Region in Atrial Fibrillation Market to Generate Nearly Half of the Global Revenue
North America dominates the market throughout the projection period. The main factor fueling the growth of the Atrial Fibrillation market is the rising acceptance of technologically advanced Atrial Fibrillation devices in North American countries. Furthermore, the huge increase in heart problems among the elderly is one of the healthcare systems' largest challenges. As a result, various cutting-edge medicines are authorized and made available in North American countries to address this issue, driving the Atrial Fibrillation market ahead.

The Asia Pacific region holds the second largest share in the market due to the high operation volumes, modern medical equipment, patient acuity understanding, and high healthcare cost levels. The availability of funding for research and the attractive financial framework are credited for the industry growth in this area.

Browse market data Tables and Figures spread through 143 Pages and in-depth TOC on Atrial Fibrillation Market Forecast Report (2022-2030).

Global Atrial Fibrillation Market Segmentation

BY Types

  • Surgical
  • Non-Surgical

BY Technologies

  • Radio Frequency
  • Laser
  • Cryotherapy
  • Other Technologies

BY End Users

  • Hospitals
  • Specialty Clinics
  • Other End Users

By Region

  • North America
    • United States
    • Canada
    • Mexico
  • Europe
    • Germany
    • UK
    • France
    • Italy
    • Spain
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • South-East Asia
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Argentina
    • Rest of Latin America
  • Middle East & Africa
    • GCC Countries
    • South Africa
    • Rest of MEA

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Scope of the Report:    

Report AttributesDetails
Market Size in 2022USD 17.5 Billion
Revenue Forecast by 2030USD 38.9 Billion
CAGR12.1% from 2022 to 2030
Base Year2022
Forecast Year2022 to 2030
Key PlayersJohnson & Johnson, Micro Port Scientific Corporation, Boston Scientific Corporation, St. Jude Medical, Medtronic PLC, Abbott Laboratories, Biotronik SE & Co. KG, Koninklijke Philips N.V., Siemens AG, AtriCure Inc.
Customization RequestIf our report does not include the information you are searching for, you may contact us to have a report tailored to your specific business needs

Key Questions Answered in the Atrial Fibrillation Market Report are:

  • What is the current size of the atrial fibrillation market and what is its expected growth rate?
  • What are the key factors driving the growth of the atrial fibrillation market?
  • What are the challenges faced by the atrial fibrillation market and how are they being addressed?
  • What are the different types of products available in the atrial fibrillation market and what are their respective market shares?
  • What are the key geographic regions in the atrial fibrillation market and what is their respective market share?
  • What are the major trends in the atrial fibrillation market and how are they expected to impact the market in the future?
  • Who are the major players in the atrial fibrillation market and what are their respective market shares?
  • What are the key strategies adopted by the major players in the atrial fibrillation market to maintain their market share?
  • What is the level of competition in the atrial fibrillation market?
  • What are the regulatory frameworks governing the atrial fibrillation market and how are they expected to evolve in the future?

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