Industry
Overview
The
worldwide atrial fibrillation market is predicted to grow at a double digit
CAGR over the forecast period (2017 to 2023). Atrial fibrillation, also denoted
as AF, is an irregular or fast heart rhythm. It raises the dangers of chest
pain, heart strokes, congestive heart failure, or cardiac discomfort. The
typical indications of AF are dizziness, confusion, fainting, or tiredness.
AF cases
within the elderly population, preference for catheter ablation, and escalating
technological developments propel the AF market. Atrial fibrillation is a
majorly common arrhythmia that results in disturbed cardiac rhythms. In the
last twenty years, a higher existence of AF incidences has been witnessed
around the globe. The ‘American Heart Association’ stated that about 34 million
people were afflicted with AF globally in 2013.
Also, the
United States observes approximately 200, 000 to 400, 000 fresh cases every
year. Rising AF cases have been the key contributor of this industry. Moreover;
diabetics, high-blood pressure patients, and obese people have developed
cardiac problems, eventually propelling the industry. Rheumatic fever
incidences have seen a rise, driving the atrial fibrillation market from 2017
to 2023.
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Scientists
and field experts have been collaborating to come up with innovative
technologies for the premature diagnosis of AF. They have also been trying to
offer better treatments to AF patients. Both these factors have generated
higher demand for AF devices, furthering industry growth. On the other hand,
increase in therapeutic expenses and scarcity of proficient doctors hamper the
market.
According
to a study by ‘Market Research Future’ (MRFR), the global AF market is set to
experience decent expansion in the forecast period. Various lifestyle
illnesses, poor eating habits, and sedentary occupations may also cause a surge
in cardiac issues, leading to some of the AF incidences. All these factors
could further contribute to the growth of this industry. Another hindrance for
the market comprises the inclination towards pharmaceutical drugs over AF
therapeutics.
Classification/Segmentation
The
global atrial fibrillation market is divided on the basis of products,
end-users, and geographical regions. By products, the industry is fragmented
into non-surgical and surgical. The end users consist of cardio centers, big
hospitals, and heart specialty care enterprises. Geographical regions into
which the market is split, comprise Americas, Europe, Asia Pacific, and the
Middle East and Africa.
Catheter
ablation, a sub-segment of surgical products, is typically adopted for managing
& treating cardiac arrhythmias. It is normally advised for the management
of atrial fibrillation when patients can neither tolerate nor be given
anti-coagulation drugs. Hence, catheter ablation occupied major shares in 2015.
It is reported to be the most rapidly growing sub-segment in the near future.
Modern
heart specialty and cardiac centers should witness the maximum adoption of AF
devices. In view of geographies, Americas maintains supremacy over the market
and would do the same in the forecast period. The usage of high-tech products
& services and improved medical infrastructure is accountable for the same.
Mexican sellers and government have spent heavy capital on the AF industry.
Asia
Pacific will grow at the fastest pace & be driven by its huge patient base
and population. Additionally, its need for atrial fibrillation devices can
increase owing to better medical infrastructure and high Chinese & Indian
healthcare costs.
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Worldwide
Rivals and Innovative Trends
Some of
the well-established players operating in the global market are Biosense
Webster, Carima, Agricore, Medtronic, and St. Jude Medical. They focus on new
therapies for gaining wide recognition and edge over one another.
Catheter
ablation has been further modified to suit patient-needs and offer cutting-edge
therapies for AF patients. Majority of the patients across developed nations
are treated with catheter pulmonary vein ablation. Such patients do not recover
from medicines and have symptomatic AF.
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