Atrial Fibrillation Market – Valued At USD 16 Billion By 2020, Asia Pacific Likely To Witness The Fastest Growth

By   | September 28, 2015 |   Price: 4950  |   Category: Healthcare
  • Atrial fibrillation is an arrhythmia in which the heart beats either too slow or too fast, or even at an irregular rate. This can lead to dire consequences like stroke, blood clots, heart failure, etc. Atrial fibrillation manifests in the form of palpitations, chest pain, fainting, congestive heart failure, etc.

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    According to a new study by Grand View Research, Inc., the worldwide atrial fibrillation market will grow at a CAGR of 13% from 2014 to 2020. The market’s revenues are projected to exceed USD 15.9 billion in 2020. This is driven by increasing geriatric population and lifestyle disorders. The growing preference for minimally invasive procedures that enable faster post-operative recovery is another growth driver.

    Technological advancements in radiofrequency and microwave catheter ablation are also proving favorable for market growth. Based on treatments, the atrial fibrillation market is split into pharmacological products, and non-pharmacological products. Pharmacological products include anti-arrhythmic drugs, and anti-coagulant drugs. Anti-coagulant drugs dominated the pharmacological segment in 2013.

    This was due to their success in the prevention of blood clots and strokes. The non-pharmacological segment includes procedures like maze surgery, electric cardioversion, and catheter ablation. Microwave, and radiofrequency are the most common catheter ablation procedures. Radiofrequency catheter ablation is likely to witness the fastest growth, at a CAGR of more than 14.5%, from 2014 to 2020.

    Catheter ablation is less invasive, and results in smaller incisions and faster recovery. It is anticipated to drive the growth of the non-pharmacological segment. Maze surgery was the second-largest segment in 2013. It is preferred due to its ability to eliminate the need for anti-coagulant drugs and lower the risk of strokes.

    Grand View Research also segregates the atrial fibrillation market on the basis of regions. These are Europe, North America, Asia Pacific, and Rest of the World (ROW). North America, with a revenue share of 41%, assumed leadership in 2013. A sophisticated healthcare setup, huge healthcare expenditures and high awareness levels have resulted in the execution of multiple atrial fibrillation procedures in the region.

    The Asian Pacific atrial fibrillation market is predicted to grow the fastest, with a CAGR of 15.2%. Non-pharmacological treatments are on the rise in this region. This is on account of increasing income levels, developing healthcare infrastructures, and growing patient awareness. Endoscopic Technologies Inc., CardioFocus Inc., Sanofi Aventis, Boston Scientific Corporation, and Biosense Webster Inc. as some of the eminent players in the atrial fibrillation market.

    AtriCure Inc., St. Jude Medical Inc., Bristol-Myers Squibb Corporation, Boehringer Ingelheim GmbH and Johnson & Johnson Ltd. are the other prominent participants.

    Atrial Fibrillation Market

    Information Source: Grand View Research

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