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Atrial Fibrillation Market Size, Share, Industry, Forecast and outlook (2024-2031)

Published: December 2024
SKU : PH446
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180 pages
Report Summary
Table of Contents
List of Tables & Figures

Atrial Fibrillation Market is segmented by Type (Surgical [Maze Surgery and Catheter Ablation] and Non-Surgical [Electric Cardioversion, Pharmacological Drugs, Diagnostic Devices, Mapping and Recording Systems, Cardiac Monitors, Access Devices, and Left Atrial Appendage and Closure Devices]), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Size, Share, Outlook, and Opportunity Analysis, 2024-2031

 

Market Overview

The Global Atrial Fibrillation Market reached USD 19.3 billion in 2022 and is projected to witness lucrative growth by reaching up to USD 42.8 billion by 2031. The Global Atrial Fibrillation Market is expected to exhibit a CAGR of 10.7% during the forecast period 2024-2031. 

Atrial fibrillation (A-fib) increases the risk of stroke, heart failure and other heart-related complications. During atrial fibrillation, the heart's upper chambers (the atria) beat chaotically and irregularly out of sync with the heart’s lower chambers (the ventricles). Treatment for atrial fibrillation includes medications, therapy to reset the heart rhythm and catheter procedures to block faulty heart signals.

The growth of the global market is driven by the increased usage of generics, raising awareness about the disease, and the growing focus of companies in emerging nations. These are some of key trends in the atrial fibrillation market.

Market Summary

MetricsDetails
CAGR10.7%
Size Available for Years2022-2031
Forecast Period2024-2031
Data AvailabilityValue (USD ) 
Segments CoveredTreatment Type, and End User 
Regions CoveredNorth America, Europe, Asia-Pacific, South America and Middle East & Africa
Fastest Growing RegionAsia-Pacific
Largest RegionNorth America
Report Insights CoveredCompetitive Landscape Analysis, Company Profile Analysis, Market Size, Share, Growth, Demand, Recent Developments, Mergers and Acquisitions, New Product Launches, Growth Strategies, Revenue Analysis, Porter’s Analysis, Pricing Analysis, Regulatory Analysis, Supply-Chain Analysis and Other key Insights.

 

To Know more Insights - Download Sample

 

Market Dynamics

Increasing Geriatric Population 

The rise in the prevalence of atrial fibrillation in the older population, technological advancements, and a preference for catheter ablation for cardiac arrhythmia therapy are driving the growth of the atrial fibrillation market. Two primary factors that contribute to the high prevalence of AF in the elderly are the aging heart's degenerative changes and the accompanying structural heart and systemic diseases, most notably coronary artery disease and hypertension, the incidences of which increase cumulatively over one's life.

High Cost of Treatment 

The high cost of atrial fibrillation therapy is an obstacle limiting market expansion. In the United States, for instance, the total added cost of atrial fibrillation was USD 8705 per patient. The national additional cost of atrial fibrillation was USD 26.0 billion (USD 6.0 billion for AF, USD 9.9 billion for other cardiovascular conditions, and USD 10.1 billion for non-cardiovascular conditions). Cardiovascular expenditures were calculated using claims with a primary illness diagnosis and are likely to be underestimated.

Market Segmentation Analysis

The Global Atrial Fibrillation Market is segmented based on treatment type and end-user 

Market Players will dominate the Maze Surgical Procedure Segment During the Forecast Period

In 2022, the maze surgical procedure under non-pharmacological treatment is expected to be account for 47.3% during the forecast period. This is due the expanding usage of cardiac monitoring devices during the treatment of atrial fibrillation, as well as the growing prevalence among the population, are driving sector growth.

Maze surgery cures atrial fibrillation by creating a "maze" of new electrical pathways to let electrical impulses travel easily through the heart. The treatment inhibits aberrant impulses while allowing normal cardiac signals to pass through by forming a precise pattern (maze) of scar tissue. A maze method has an 80 to 90% success rate. It takes a month or more to recover.

Market Geographical Share

North America is the dominant Region During the Forecast Period

North America contributed approximately 41.5% due to the leading players' availability of technologically improved items. Furthermore, the rising frequency of heart disease is a key issue confronting hospitals and healthcare systems. As a result, corporations are investing in R&D to deliver breakthrough solutions to patients.

For instance, In the United States, almost 454,000 hospitalizations with Arial Fibrillation as the principal diagnosis occur yearly. Every year, the illness kills around 158,000 people. For over two decades, the death rate from AFib as the major or contributory cause of death has been increasing.

Market Key Players

The major global players include AtriCure, Biosense Webster, Boehringer Ingelheim GmbH, Boston Scientific Corporation, Bristol-Myers Squibb Corporation, Cardio Focus, Endoscopic Technologies, Sanofi Aventis, Abbott, Johnson and Johnson.

COVID-19 Impact on Market

Covid has delayed several atrial fibrillation products due to a stoppage in raw material import and export, which has slowed market growth. According to the most recent statistics from the Italian National Institute of Health's COVID-19 Task Force, 24.5% of 355 non-surviving COVID-19 patients (mean age 79.5 years, 70% men) presented with AF prior to SARS-CoV-2 infection.

Russia-Ukraine Conflict Analysis

Russia-Ukraine Conflict created Numerous factors which have disturbed the Atrial Fibrillation business. As a result of the direct effects of conflict, healthcare infrastructure in conflict-affected areas may be destroyed or strained. As a result, access to medical treatments, particularly to specialized centers capable of diagnosing and treating atrial fibrillation, may be restricted.

The battle can potentially disrupt the supply chain for critical drugs, particularly those used to treat atrial fibrillation. This might result in drug shortages or difficulties getting crucial medications, leading in inadequate sickness management.

Key Developments 

  • In Jan 2023, Garmin launched an ECG app for the Venu 2 Plus in the United States: Garmin, renowned for its health-focused wearables, has released a new software that allows users to collect ECG readings. The app, designed for the Venu 2 Plus, assists in recording cardiac rhythm and detecting atrial fibrillation or normal sinus rhythm indicators. The FDA-approved app is presently only available to residents of the United States.
  • In Jan 2023, Pfizer has launched a new project in Malaysia to enhance atrial fibrillation health literacy. The website educates patients and carers directly and is a valuable resource for cardiologists, neurologists, and other healthcare professionals when teaching their patients.
  • In Oct 2022, in a collaborative study, Cleveland Clinic researchers identified the diabetes drug metformin as a potential treatment for atrial fibrillation. Metformin, a common diabetic medicine, has been discovered as a possible therapy for atrial fibrillation by Cleveland Clinic researchers. 

The study, published in Cell Reports Medicine, expanded on current joint Cleveland Clinic research to encourage future examination of metformin as a therapeutic repurposing option. According to researchers who utilized sophisticated computing and genetic sequencing, Metformin's targets overlap strongly with genes dysregulated in atrial fibrillation.

Why purchase the report?

  • To visualize the global atrial fibrillation market segmentation based on the treatment type end user and region and understand key commercial assets and players.
  • Identify commercial opportunities by analyzing trends and co-development.
  • Excel data sheet with numerous global Atrial Fibrillation Market Level data points with all segments.
  • PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
  • Product mapping available as Excel consisting of key products of all the major players.

The Global Atrial Fibrillation Market Report Would Provide Approximately 92 Tables, 108 Figures And 195 Pages.

Target Audience 2024

  • Manufacturers/ Buyers
  • Industry Investors/Investment Bankers
  • Research Professionals
  • Emerging Companies
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