Atrial Fibrillation Market Attractiveness, Competitive Landscape and Key Players AtriCure, CardioFocus, Biotronik

The Atrial fibrillation market was valued at US$ 6,446.08 million in 2019 and is expected to grow at a CAGR of 14.0% from 2020 to 2027 to reach US$ 18,085.96 million by 2027.

Atrial fibrillation also referred to as AFib or AF is a medical condition that causes irregular heartbeat (arrhythmia) and which can further lead to blood clots, stroke, heart failure and other heart-related complications. The global atrial fibrillation market is driven by factors such as include increasing prevalence of atrial fibrillation and rising awareness regarding atrial fibrillation are expected to boost the market growth over the years. However, high cost of atrial fibrillation devices and procedures is likely to have negative impact on the growth of the Atrial fibrillation market in the coming years.

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Company Profiles

  • Boston Scientific Corporation
  • Medtronic
  • AtriCure, Inc
  • Biosense Webster, Inc.
  • CardioFocus
  • Abbott
  • Sanofi
  • Biotronik Inc.
  • Bristol-Myers Squibb Company

Atrial fibrillation, is the most common type of heart disorder, where the heart beats too fast, too slow, or in an irregular way. The Centers for Disease Control and Prevention (CDC) estimated that between 2.7 million and 6.1 million people are suffering from AFib in the United States. In 2017, around 166,793 death certificates mention AFib and was the main cause death in 26,077 deaths. Every year over 454,000 hospitalizations were due to AFib in the United States and every year about 158,000 deaths are due to atrial fibrillation.

Furthermore, European Society of Cardiology reported that Atrial fibrillation is the most common arrhythmia and accounts for 0.28% to 2.6% of healthcare spending in European countries. It also mentioned that patients suffering from atrial fibrillation have a five times higher risk getting a stroke and 20% to 30% of total strokes in Europe are caused due to atrial fibrillation. As per the study conducted by the European Society of Cardiology in 2016, approximately 7.6 million people aged 65 or more in the EU had atrial fibrillation. The European Society of Cardiology estimated that the number is expected to increase by 89% in 2060 and approximately 14.4 million people will have atrial fibrillation. And the prevalence of 7.8% is expected to reach 9.5% in 2060.

The atrial fibrillation market, by treatment type, is segmented into non-pharmacological and pharmacological. In 2019, the non-pharmacological accounted for the largest market share in the global atrial fibrillation market by treatment type owing to common use of surgical devices for the treatment of cardiac arrhythmias. Moreover, medications to treat atrial fibrillation are not always successful and hence non-pharmacological techniques are widely adopted. Thus, owing to these benefits and their wide acceptance of non-pharmacological techniques the non-pharmacological held the largest share in the market

End User Insights
The end-user segment market is segmented into hospitals, ambulatory surgical centers and cardiac catheterization laboratories. The hospitals segment held the largest share of the market in 2019. In addition, the segment is also estimated to register the highest CAGR in the market during the forecast period. The hospital segment held the largest share as hospitals are primary point of care for most of the population across the globe and the treatment procedures for atrial fibrillation are easily carried out in the hospitals due to availability of the experienced cardiologists, experts and assisting staffs.

Strategic Insights

Merger & acquisition strategy is commonly adopted by companies to expand their footprint worldwide and meet the growing demand. This strategy is most commonly adopted by the market players in order to enhance its product portfolio.

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Posted by on Monday July 13 2020, 4:59 AM EDT. All trademarks acknowledged. Filed under Biotechnology, Business Services, Diagnostics, Featured Press Release, Healthcare, Life Sciences, Medical Devices, Pharmaceuticals, Technology, Media, & Telecommunications. Comments and Trackbacks closed. Follow responses: RSS 2.0

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