Global Atrial Fibrillation Market recorded revenue of US$ 3,310.1 million in 2022 and is expected to reach a valuation of US$ 6,839.8 million by 2031, growing at a CAGR of 8.71% during the forecast period, 2023-2031.
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Atrial fibrillation is one of the leading causes of stroke, which can be fatal or even disabling. The range of available treatments for atrial fibrillation has increased recently. There are no reliable drugs that can lower the risk of a stroke. Blood thinners and antiarrhythmic medicines are among these. In some circumstances, surgery can be required to address the underlying issue.
An aging population and more effective treatment choices are driving the rising demand for atrial fibrillation therapy. More people are living with this ailment and seeking treatment now that there are better treatments accessible. In the upcoming years, it is predicted that this tendency will persist.
Globally, there is an increasing need for therapy in the atrial fibrillation industry. The aging population and rising prevalence of atrial fibrillation risk factors including obesity and diabetes are to blame for this. The most prevalent type of arrhythmia, or abnormal heartbeat, is atrial fibrillation. More than 2.2 million Americans are affected by it, and it causes about 130,000 fatalities yearly. Atrial fibrillation can be treated in a variety of ways, including with drugs, surgery, and catheter ablation. The best course of action depends on the particular patient. As the population ages and more people acquire risk factors for the condition, demand for atrial fibrillation therapy will only increase.
Market Dynamics
Driver
Increasing Prevalence of Atrial Fibrillation: Atrial fibrillation (AF) is becoming more common everywhere. The likelihood of acquiring AF rises with age, and those over the age of 60 have the ailment the most frequently. Men have AF more frequently than women do. The cause of growing Atrial fibrillation are:
The growing elderly population: Elderly people are more prone to have Atrial fibrillation. Second, the global atrial fibrillation market is seeing an increase in lifestyle variables, including smoking and obesity. These elements raise the possibility of getting AF. Third, the usage of several drugs has grown, including ACE inhibitors and beta-blockers. These drugs either trigger AF or exacerbate it. The range of AF treatments has expanded recently. The illness can still have severe side effects, such as a stroke. People who are at risk for AF should be aware of the symptoms and seek medical attention if they manifest.
In the atrial fibrillation market, strokes caused by adverse effects from AFib are frequently more severe than strokes caused by other underlying illnesses. AFib is the most common diagnosis for more than 454,000 hospital admissions each year in the U.S., according to the CDC. The illness contributes to about 158,000 mortality annually.
Many patients are choosing catheter ablation as their preferred form of treatment: A catheter is inserted into the heart during this minimally invasive technique to eliminate tiny tissue clusters that are the source of the aberrant electrical activity that causes atrial fibrillation.
In recent years, miniaturized implantable cardioverter defibrillators (ICDs) have become more common as they are less noticeable to patients and can be inserted under the skin.
Restraints
High Treatment Cost: Atrial fibrillation therapy can be fairly expensive. Regrettably, AFib treatment can be exceedingly expensive. The average price of an AFib episode in the U.S. is more than US$ 6,000. The illness itself is significant, and it frequently calls for costly operations and treatments. The drugs used to treat atrial fibrillation can also be rather expensive. Atrial fibrillation can be treated in many ways.
On the global market for atrial fibrillation, drugs, catheter ablation, and electrical cardioversion are some of the most popular therapies. Electrical cardioversion is a method that uses shocks from an electric current to get the heart back to its regular beat. The most often prescribed drugs for atrial fibrillation treatment are beta and calcium channel blockers. People with AF may also need to take anticoagulants (blood thinners), which can be costly because they have a higher risk of stroke. Finally, AF frequently results in hospitalizations, which can raise the cost even further.
Several variables, including the severity of the ailment, the type of treatment being utilized, and the area where the treatment is being received, might affect the price of various treatments in the worldwide atrial fibrillation market. The expense of treating atrial fibrillation can, however, generally be fairly substantial.
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Regional Overview
In 2021, North America accounted for the maximum revenue with a share of 39.2%. However, the United States accounted for more than 80% of the revenue of North America. Atrial fibrillation accounts for more than 80,000 annual mortality in the nation, and more than 460,000 new cases are recorded each year. The main factor fueling the market’s growth is the rising adoption of atrial fibrillation devices with advanced technology. In addition, one of the difficulties facing the medical system is the rising prevalence of heart issues in the elderly population.
In addition, Asia Pacific will experience the highest annual growth rate in the global atrial fibrillation industry over the forecast period of 2022–2030. This is due to the region’s large patient population that is susceptible to cardiac disorders, dynamic economies, and rising cardiovascular disease prevalence in India and China. China is likely to rule the Asia-Pacific market over the projection period. The market in the area is rising in the promotion of atrial fibrillation’s rise and increasing healthcare awareness.
Companies Landscape
The leading 10 companies controlled roughly 55%–65% of the market in 2021. Consequently, it is likely that the market will be highly fragmented. However, with the entry of new manufacturers and the expanding market share of established players, it is anticipated that the atrial fibrillation market will undergo changes in the future.
Businesses are conducting more of these trials in an effort to provide patients with atrial fibrillation with a more effective course of treatment. A major impact on the global market is also anticipated from the introduction of cutting-edge treatment methods like hybrid ablation and an increase in atrial fibrillation prevalence in developing Asian countries.
Segmentation Overview
Type Analysis
The Chronic/Permanent Afib segment will record a growth rate of 9.03% from 2023 to 2031. Without medical intervention, a patient’s heart cannot revert to a normal rhythm once chronic paroxysmal atrial fibrillation starts. Atrial fibrillation affects at least 2.7 million people in the United States. It is believed that 70% of these cases are brought on by chronic or long-lasting afib.
Treatment Analysis
In 2021, the diagnosis segment carried around 68.7% market share. Spending on atrial fibrillation has increased recently for a number of reasons.
First, the population is aging and atrial fibrillation is becoming more common as people get older.
Second, more timely and precise atrial fibrillation diagnoses are now achievable because of improved technology.
Third, there are now new therapies for atrial fibrillation, such as oral anticoagulants and catheter ablation. The rising cost of treating atrial fibrillation reflects the mounting toll that this ailment is taking on the US healthcare system. The price of atrial fibrillation will increase as the population ages and new therapies become accessible.
List of Notable Players Profiled
- St. Jude Medical Inc.
- AtriCure Inc.
- Siemens AG
- Biosense Webster Inc.
- Sanofi-Aventis
- Endoscopic Technologies Inc.
- Boehringer Ingelheim GmbH
- MicroPort Scientific Corporation
- Boston Scientific Corporation
- Koninklijke Philips N.V.
- Bristol-Myers Squibb Corporation
- Johnson & Johnson Ltd.
- CardioFocus Inc.
- Other Prominent Players
Segmentation Outline
By Type
- Paroxysmal Afib
- Persistent Afib
- Chronic/Permanent Afib
By Technology
- Microlife AFIB Technology
- Hybrid Surgical-Catheter Ablation
- Cryotherapy
By Treatment
- Diagnosis
- Electrocardiogram
- Blood tests
- Echocardiogram
- Chest X-ray
- Other (Blood tests)
- Medication
- Anticoagulants
- Others
By End-User
- Hospitals
- Care Centers
- Outpatients
- Ambulatory Services
By Region
- North America
- The U.S.
- Canada
- Mexico
- Europe
- The U.K.
- Germany
- France
- Italy
- Spain
- Poland
- Russia
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Australia & New Zealand
- ASEAN
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
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