Atrial Fibrillation Market to Cross USD 6,839.8 million by 2031 – Astute Analytica

CHICAGO, UNITED STATES, February 2, 2023 /EINPresswire.com/ -- Global Atrial Fibrillation Market was valued at US$ 3,310.1 million in 2022 and is expected to reach US$ 6,839.8 million by 2031, growing at a CAGR of 8.71% during the forecast period, 2023–2031.

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One of the main causes of stroke, which can be deadly or even incapacitating, is atrial fibrillation. Recently, there have been more atrial fibrillation treatments available. There are no proven medications that can reduce the chance of having a stroke. Among them are antiarrhythmic drugs and blood thinners. Surgery may be necessary in some cases to address the underlying problem.

The increased demand for atrial fibrillation therapy is by an aging population and more potent treatment options. Now that there are improved medicines available, more people who have this condition are seeking therapy. This trend is likely to continue in the upcoming years.

There is a growing demand for treatment for atrial fibrillation on a global scale. This is due to the aging population and increased incidence of atrial fibrillation risk factors. In addition, atrial fibrillation is the most typical form of arrhythmia or irregular heartbeat. It affects more than 2.2 million Americans and results in 130,000 fatalities per year. Treatment options for atrial fibrillation include medication, surgery, and catheter ablation. The unique patient will determine the best line of action.

Aspects Impacting the Growth of the Global Atrial Fibrillation Market

Driving Factors

Everywhere, atrial fibrillation (AF) is getting more prevalent. Age affects the probability of developing AF, and people over 60 are most likely to have it. AF affects guys more frequently than it does women. Growing cases of atrial fibrillation are brought on by:

Catheter ablation is a popular therapeutic option for many patients: In this minimally invasive procedure, a catheter is introduced into the heart to remove microscopic tissue clusters that are the source of the abnormal electrical activity that results in atrial fibrillation.

Miniaturized implanted cardioverter defibrillators (ICDs), which may be inserted beneath the skin and are less obvious to patients, have proliferated in recent years.

The aging population: Atrial fibrillation is more common in older adults. Second, the prevalence of lifestyle factors including obesity and smoking is growing in the worldwide atrial fibrillation market. These elements raise the possibility of getting AF. Third, more people are using different drugs, particularly beta-blockers and ACE inhibitors. These drugs either trigger AF or exacerbate it. The variety of AF treatments has lately increased. Still, the condition may have serious side consequences, such as a stroke. If any of these signs appear, people at risk for AF should seek medical attention.

Strokes brought on by the negative effects of atrial fibrillation are typically more severe than strokes brought on by other underlying disorders, according to the atrial fibrillation market. According to the CDC, the most frequent diagnosis for about 454,000 hospital admissions each year in the U.S. is AFib. Every year, the disease causes roughly 158,000 deaths.

Restraint Factor

High Cost of Treatment

The cost of atrial fibrillation treatment might be high. Unfortunately, the cost of treating AFib can be extremely high. In the US, an AFib episode costs on average more than US$ 6,000. The sickness itself is serious, and it typically necessitates pricey procedures and therapies. Additionally, the medications used to treat atrial fibrillation can be rather pricey. There are numerous techniques to treat atrial fibrillation.

Catheter ablation, drugs, and electrical cardioversion are a few of the most widely used treatments for atrial fibrillation on the international market. To restore the heart's regular rhythm, a procedure known as electrical cardioversion uses shocks from an electric current. Beta and calcium channel blockers are the medications for atrial fibrillation treatment that are most frequently prescribed. Due to their increased risk of stroke, individuals with AF may also need to take expensive anticoagulants (blood thinners). Last but not least, AF frequently necessitates hospitalizations, which can significantly increase the cost.

The severity of the ailment, the type of treatment employed, and the region where the treatment is being received are some of the variables that may affect the price of different treatments in the worldwide atrial fibrillation market. Atrial fibrillation treatment, however, can occasionally be rather expensive.

Trend

Here are some of the newest developments in the management of atrial fibrillation:

1. For many patients, catheter ablation is quickly becoming their preferred form of treatment. In atrial fibrillation, tiny tissue clusters which cause aberrant electrical activity are eliminated with the assistance of a catheter.

2. Miniaturized implanted cardioverter defibrillators (ICDs) are being used more frequently. Since these devices can be implanted beneath the skin and are significantly smaller than conventional ICDs, patients will find them to be more comfortable and less noticeable.

Segmentation Synopsis

Type Analysis

From 2023 to 2031, the Chronic/Permanent Afib market will expand at a 9.03% annual pace. Once chronic paroxysmal atrial fibrillation begins, a patient's heart cannot return to a normal rhythm without medical assistance. In the US, atrial fibrillation affects at least 2.7 million people. It is estimated that chronic or persistent afib causes 70% of these instances.

Technology Analysis

Hybrid atrial fibrillation (AF) ablation procedures are quickly becoming available. Hybrid surgical-catheter ablation is anticipated to experience substantial demand and expand at the highest CAGR of 9.08% throughout the forecast period. Hybrid approaches may improve procedure success and lower risks by combining the advantages of surgical and catheter ablation while minimizing their disadvantages.

Treatment Analysis

The diagnosis market share in 2021 was almost 68.7%. A lot of factors have contributed to the current rise in atrial fibrillation spending.

First, as individuals live longer, atrial fibrillation is becoming more dominant due to the aging population.

Second, because of advances in technology, atrial fibrillation diagnosis may now be made more quickly and accurately.

Third, there are unique treatments for atrial fibrillation, such as oral anticoagulants and catheter ablation. The growing burden that atrial fibrillation is placing on the US healthcare system is reflected in the rising expense of treatment. Atrial fibrillation will become more expensive owing to the growing population and the advent of new treatments.

End User Analysis

Over the forecast period of 2023-2031, the hospital segment is predicted to develop at the highest CAGR of 9.16%. According to our study, atrial fibrillation is primarily diagnosed and treated in hospitals. Hospitals provide the equipment and knowledge necessary to identify atrial fibrillation and provide appropriate therapies. Atrial fibrillation can cause major health issues, including stroke. Surgery, medication, and electrical cardioversion are all available treatments for atrial fibrillation.

Since presentations frequently take place in the emergency room, it is the perfect location to concentrate efforts that may change the course of illness. The majority of patients whose atrial fibrillation was the main reason for their emergency department visit, as per Canadian and international guidelines, are not hospitalized and can be safely discharged from the emergency room to their place of residence.

Regional Overview

North America generated the most revenue in 2021 with a share of 39.2%. However, more than 80% of North America's revenue was generated in the United States. Over 80,000 people die annually from atrial fibrillation in the country, while more than 460,000 new cases are diagnosed every year. The rising application of high-tech atrial fibrillation devices is the main driver of the market's development. The increased prevalence of heart problems in the senior population is another challenge the medical system faces.

Additionally, over the 2022-2030 forecast period, Asia Pacific will have a lucrative growth rate in the worldwide atrial fibrillation market. This is a result of the region's enormous patient population, which is prone to cardiac illnesses, its vibrant economies, and the increased frequency of cardiovascular disease in China and India. Over the course of the projection, China is likely to dominate the APAC industry. The market in the region is expanding owing to increased healthcare awareness and atrial fibrillation promotion.

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Notable Players
The reputed companies in the global atrial fibrillation market are:
CardioFocus Inc.
Boston Scientific Corporation
St. Jude Medical Inc.
Johnson & Johnson Ltd.
AtriCure Inc.
Koninklijke Philips N.V.
Siemens AG
MicroPort Scientific Corporation
Biosense Webster Inc.
Sanofi-Aventis
Bristol-Myers Squibb Corporation
Endoscopic Technologies Inc.
Boehringer Ingelheim GmbH
Other Prominent Players

Segmentation Outline
The global atrial fibrillation market segmentation focuses on Type, Technology, Treatment, End-User, and Region.
By Type
Paroxysmal Afib
Persistent Afib
Chronic/Permanent Afib

By Technology
Microlife AFIB Technology
Hybrid Surgical-Catheter Ablation
Cryotherapy

By Treatment
Diagnosis
o Electrocardiogram
o Blood tests
o Echocardiogram
o Chest X-ray
o Other (Blood tests)
Medication
o Anticoagulants
o Others

By End User
Hospitals
Care Centers
Outpatients
Ambulatory Services

By Region
North America
The U.S.
Canada
Mexico

Europe
The U.K.
Germany
France
Italy
Spain
Poland
Russia
Rest of Europe

Asia Pacific
China
India
Japan
South Korea
Australia & New Zealand
ASEAN
Rest of Asia Pacific

South America
Brazil
Argentina
Rest of South America

Middle East & Africa
UAE
Saudi Arabia
South Africa
Rest of Middle East & Africa

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Aamir Beg
Astute Analytica
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