The research analysts at Transparency Market Research project that the global atrial fibrillation market will witness a significant CAGR of 11 % over the forecast period of 2017 to 2026. They also project that the global atrial fibrillation market will expand to reach the evaluation of US$ 10.92 billion at the end of the forecast period i.e. 2026.
Rising number of global geriatric and elderly population is one of the most prominent factors stimulating growth in the global atrial fibrillation market over the forecast period. Constantly evolving discipline of cardiology and cardiovascular medicine has created numerous lucrative opportunities in the global atrial fibrillation market over the years. Furthermore, outbreak of COVID-19 pandemic has caused immense panic amongst patients suffering from cardiac health conditions. This has created a whirlwind of avenues for the expansion of the global atrial fibrillation market in recent times.
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EP Ablation Catheters Segment Leads the Atrial Fibrillation Market
Products offered by players and manufacturers in the global atrial fibrillation market include EP ablation catheters, EP mapping and recording systems, access devices, EP diagnostic catheters, cardiac monitors, and LAA closure, among others. Over the forecast period, the demand for EP ablation catheters is anticipated to rise significantly.
Research authors at Transparency Market Research predict that the EP ablation catheters segment will achieve an impressive evaluation of US$ 2.7 billion at the end of the forecast period in 2026, making it the dominant product type segment in the global atrial fibrillation market. Other product segments anticipated to witness significant demand in the global atrial fibrillation market in coming years include EP mapping and recording systems.
Rising Instances of Obesity, Hypertension, and Diabetes and Resultant Cardiac Disorders Boost the Sales in Atrial Fibrillation Market
Rising instances of diabetes, obesity, and hypertension are driving the need of enhanced products and solutions from the global atrial fibrillation market as these conditions can easily lead to various cardiac disorders over the time. Furthermore, increase in the research and development activities pertaining to medical and healthcare sectors along with notable advancements in diagnostics as well as treatment using atrial fibrillation are stimulating high growth opportunities in the global atrial fibrillation market in coming years.
Segments in the global atrial fibrillation market by end user are hospitals, ambulatory surgical center, and electrophysiology laboratories. Hospitals segment is anticipated to witness substantial growth in the global atrial fibrillation market in coming years. Application segments for the products in the global atrial fibrillation market are diagnostic, surgical, and EP ablation. EP ablation segment is expected to hold a larger share in the global atrial fibrillation market during the forecast period.
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Europe to Dominate the Atrial Fibrillation market Over the Forecast Period
Key regions covered in the market analysis on global atrial fibrillation market include Asia Pacific, North America, Middle East and Africa, Latin America, and Europe. Europe region is anticipated to dominate the global atrial fibrillation market during the forecast period of 2018 to 2026, owing to substantial rise in the adoption of latest technologies as well as enhancement of new age healthcare facilities and regional healthcare infrastructure. High instances of various catheter ablation procedures undertaken in the Germany are also anticipated to fuel the atrial fibrillation sales in Europe.
Major incumbent players assessed in the research report on the global atrial fibrillation market include Medtronic PLC, Osypka AG, Boston Scientific Corporation, MicroPort Scientific Corporation, Koninklijke Philips N.V., Biosense Webster, Inc., Abbott Laboratories, Biotronik SE & Co. KG, AtriCure, Inc., and CardioFocus, Inc.
The global atrial fibrillation market experiences high competition owing to the presence of large number of established international players in the industry. Entry of new pharmaceutical players has elevated the efforts in research in the sector of cardiology. This can positively influence the product offerings and inventory of players in the global atrial fibrillation market.
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