According to The Insight Partners market research study of ‘Atrial Fibrillation Market to 2027 – Global Analysis and Forecasts by Treatment Type and End User’. The global atrial fibrillation market is expected to reach US$ 18,085.96 Mn in 2027 from US$ 6,446.08 Mn in 2019. The market is estimated to grow with a CAGR of 14.0% from 2020-2027. The report provides trends prevailing in the global Atrial Fibrillation Market and the factors driving market along with those that act as hindrances.
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The global Atrial Fibrillation Market, based on the 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. The end user segment is segmented into hospitals, ambulatory surgical centers, and cardiac catheterization laboratories
The Atrial Fibrillation Market for is expected to grow, owing to factors such as increasing prevalence of atrial fibrillation and rising awareness regarding atrial fibrillation are expected to boost the market growth over the years. Moreover, growth opportunities in the developing nations are likely to have a positive impact on the growth of the market in coming years.
Leading companies operating in the atrial fibrillation market are Boston Scientific Corporation, Medtronic, AtriCure, Inc, Biosense Webster, Inc., BOEHRINGER INGELHEIM GMBH, CardioFocus, Abbott, Sanofi, Biotronik, Inc., and Bristol-Myers Squibb Company among others.
Increasing Prevalence of Atrial Fibrillation
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 report segments Global Atrial Fibrillation Market as follows:
Global Atrial Fibrillation Market – By Treatment Type
Global Atrial Fibrillation Market – By End User
Global Atrial Fibrillation Market – By Geography
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