The Global Atrial Fibrillation Market size is expected to reach $8,319 million by 2022, growing at a CAGR of 13.0% during the forecast period 2014‐2022. Atrial fibrillation is a rapid or irregular rhythm of the heart that increases the risk of heart, stroke, and other complications, such as discomfort (Angina), pressure, or chest pain which may lead to congestive heart failure. The symptoms of atrial fibrillation include confusion, dizziness, fatigue, and fainting.
Rise in prevalence of atrial fibrillation in geriatric population, technological advancements, and increase in preference of catheter ablation for cardiac arrhythmia treatment drive the growth of atrial fibrillation market share. However, dearth of skilled professionals and unfavorable preference of pharmaceutical interventions (drugs) over AF treatment devices are expected to hinder the atrial fibrillation market growth.
Global Atrial Fibrillation Market Segmentation
Catheter ablation is the most commonly used surgical devices for the treatment of cardiac arrhythmias. It is recommended for the treatment of AF when anticoagulant drugs and other medications cannot be administered or tolerated by the patient. Therefore, this segment accounted for the major chunk of the overall market in 2015 and is expected to be the fastest-growing market during the forecast period.
Catheter ablation market, by type, 2015
Top Investment Pockets in Global Atrial Fibrillation Market
Geographical Market Snapshot
Geographically, North America region generated the highest revenue in 2015. This is mainly attributed to the presence of refined healthcare infrastructure and high adoption rate of highly advanced technologies in North American countries such as U.S., Canada, and Mexico. Also, emergent markets such as Mexico has witnessed significant investments by government and vendors. Moreover, Asia-Pacific is estimated to be the fastest growing region during the forecast period due to its vast population and different age groups being susceptible to cardiac diseases. In addition, the demand for AF devices is expected to boost due to improvement in healthcare infrastructure and expenditure in the emergent markets (such as India and China) to meet the medical needs in these nations.
Mexico: Atrial Fibrillation Market ($Million), 2014‐2022
Top Impacting Factors
Rising prevalence of atrial fibrillation in geriatric population
The prevalence and incidences of AF increase with age. According to JAMA Internal Medicine, the prevalence of AF is 2.3% (amongst 40 years old) and 5.9% (older than 65 years). Almost 70% aged 65-85 years have it.
Traditionally, catheter ablation was used to treat AF that had certain limitations in reducing the chances of stroke as its efficiency degraded with time. Thus, new line of treatment options such as Watchman device, FIRM ablation, and Convergent procedure were developed and have been successful in reducing the chances of atrial fibrillation in 7580% of the patients. Besides, several companies have taken initiatives to develop efficient approach for treating it. For instance, Medtronic, in 2012, received FDA approval and CE mark for its product “Arctic Front Advance Cardiac Cryoballoon” for the treatment of paroxysmal atrial fibrillation. Moreover, in 2016, Heart Rhythm Society in partnership with Boehringer Ingelheim Pharmaceuticals, Inc. awarded “Atrial Fibrillation (AFib) Quality Improvement (QI) Innovation Grant” to Dr. Mark H. Eckman (MD, University of Cincinnati) and Dr. Steven A. Lubitz (MD, MPH, Massachusetts General Hospital to support research on prevention of stroke and atrial fibrillation. Thus, the persistent development in technology has helped in reducing the risk of stroke and atrial fibrillation in patients.
Increasing preference of catheter ablation for cardiac arrhythmia treatment
Catheter ablation is useful in the treatment of abnormal heart rhythm, specifically when medications are ineffective. It is a low-risk minimal invasive procedure for cardiac arrhythmias treatment. The catheter ablation device removes the faulty heart tissues that cause irregular heart rhythms. Catheter ablation has rendered 95.0% of success rate in treatment of cardiac arrhythmias. Around 50,000 catheter ablation procedure are performed each year in Germany.
Dearth of skilled professionals
The dearth of skilled professionals (such as electrophysiologists, cardiologists, and technicians) is the major factor that could restrain the market growth. According to the Journal of the American College of Cardiology (JACC), there was a shortage of 660 electrophysiologists and 1,685 general cardiologists in 2014. Also, many professionals who cannot perform procedures using advanced devices (such as advanced ablation catheters) has further hampered the adoption of these devices.
Unfavorable preference to pharmaceutical interventions (drugs) over AF treatment devices
Pharmaceutical interventions (drugs) and medications are often preferred over AF devices specifically due to the high cost of the AF treatment incurred by the patient, which limits the sale of these devices. The use of drugs (such as moricizine and quinidine prolongs) are antiarrhythmic drugs that normalize irregular or abnormal heart rhythm. In addition, new medication therapies based on biotechnology and genomics are expected to further fuel the demand for drugs, thus restraining the demand for AF devices. However,combination of both drugs and devices provide better results in the treatment of cardiac arrhythmias, which can contribute to the market growth.
The report provides comprehensive competitive analysis and profiles of major market players such as Abbott Laboratories, Johnson & Johnson, MicroPort Scientific Corporation, Boston Scientific Corporation, St. Jude Medical, Inc., Medtronic plc, Biotronik SE & Co. KG, Koninklijke Philips N.V., Siemens AG, and AtriCure Inc.
Other players in the atrial fibrillation market are Biosense Webster, Inc., CardioFocus, Inc., CathEffects Inc., CathRx Ltd. EndoPhotonix, Inc., Japan Lifeline Co., Osypka AG, Pioneer Medical Devices AG, GE Healthcare, and TZ Medical, Inc.
ATRIAL FIBRILLATION MARKET KEY BENEFITS:
- In-depth analysis of the market is conducted based on market estimations of the key segments for the period of 20142022.
- Comprehensive analysis of factors that drive and restrict the growth of the global atrial fibrillation market is provided in the report.
- Exhaustive analysis by different segments aids to understand the different aspects of atrial fibrillation that are currently used along with the variants that would gain prominence in the future.
- Competitive intelligence of leading manufacturers and distributors interprets the competitive scenario across various geographies.
- Key market players and their strategies are analyzed thoroughly, to predict the competitive outlook of the global atrial fibrillation market share.
ATRIAL FIBRILLATION MARKET SEGMENT:
- Surgical Devices
- Maze Surgery
- Catheter Ablation
- Radiofrequency Catheter Ablation
- Conventional RF Ablation Catheters
- Irrigated-tip RF Ablation Catheters
- Microwave Based Catheter Ablation
- Laser Based Catheter Ablation
- Navigational Advanced Mapping Accessories
- Non-Surgical Devices
- Electric Cardioversion
- Diagnostic Catheters
- Conventional Diagnostic Catheters
- Fixed Diagnostic Catheters
- Steerable Diagnostic Catheters
- Advanced Diagnostic Catheters
- Mapping and Recording Systems
- Cardiac Monitors
- Access Devices
- Left Atrial Appendage and Closure Devices
- Intracardiac Echocardiography (ICE) Systems
- North America
- Rest of Europe
- South Korea
- Rest of Asia-Pacific
- South Africa
- Rest ofLAMEA