The global market for atrial fibrillation is highly influenced by the ever-rising base of the geriatric population across the world. Driven by the increasing patient pool suffering from atrial fibrillation, the market, which presented an opportunity worth US$6.1 bn in 2012, is likely to rise at a CAGR of 13.40% between 2013 and 2019 and increase to US$14.8 bn by 2019.
The favorable results of clinical trials of drugs and therapies intended for the treatment of atrial fibrillation are also expected to support the growth of this market significantly over the forthcoming years.
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Pharmacological treatments have dominated the global atrial fibrillation market in terms of treatment types and are expected to continue leading the market in terms of demand growth rate and revenue generation.
Global Atrial Fibrillation Makers Sustained on North America Demand, Boosted by Growing APAC Demand
North America has consistently been the leading region in the global atrial fibrillation market in terms of both revenue generation as well as research and development efforts. This is likely to remain consistent and players that hold a solid presence in this region are expected to remain optimistic over the coming years. At the same time, the globally prominent manufacturers of atrial fibrillation devices are moving towards Asia Pacific in search of greater scope of opportunities.
The same can be said for North American manufacturers looking to set base in Europe, where there is a similar rate of increase in demand. Owing to the growing number of people in need of atrial fibrillation in India and China, Asia Pacific is expected to register the lead in terms of growth rate within till 2024.
Growing Case Counts of Hypertension and Obesity Push Atrial Fibrillation Manufacture Rate
“The leading cause of growth in the global atrial fibrillation market at the moment is the growing number of patients with medical conditions such as hypertension and obesity. The prevalence of obesity is growing not just in developed economies; emerging economies are also falling prey to excessive food consumption, obesity, and diabetes.
The resultant growth in the global number of patients is the top factor augmenting the demand for atrial fibrillation. Numerous health organizations across the world predict that these numbers will increase at greater speeds over time, thus putting extra pressure on manufacturers of associated treatments and medical devices,” states a TMR analyst.
Players such as St. Jude Medical, Inc., Johnson & Johnson Ltd., and Bristol-Myers Squibb Corp., have consistently led the global atrial fibrillation market over the recent past. While the number of incoming innovations and pipeline treatment approvals will create a greater scope of growth for market players, the highly stringent regulations are expected to deter a sizeable number of new entrants.
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