(MENAFN- EIN Presswire) Atrial Fibrillation industry Shares, growth
North America is the largest market for AFib treatments, with a high prevalence of AFib and a well-developed healthcare infrastructure
PORTLAND, OREGON, UNITED STATES, February 11, 2023 /einpresswire.com / -- Atrial fibrillation market size was valued at $1,825.85 million in 2020, and is projected to reach $3,370.70 million by 2030, growing at a CAGR of 6.4% from 2021 to 2030. Atrial fibrillation is the most common arrhythmia and occurs when the heart's upper chambers (atria) receive erratic electrical impulses. As a result, the beat becomes fast and uneven. Atrial fibrillation can cause heart rate of 100 to 175 beats per minute. Confusion, dizziness, exhaustion, and fainting are the symptoms of atrial fibrillation.
The Atrial Fibrillation market is experiencing growth due to a number of factors, including the rise in occurrences of the condition in the aging population, advancements in technology, and a growing preference for catheter ablation as a treatment for cardiac arrhythmias. However, the market may be limited by a shortage of experienced professionals and a preference for pharmaceutical treatments over AF therapy devices. In addition, the emergence of biotech and genetic-based therapies is expected to increase demand for drugs, reducing the need for AF devices. The combination of medication and devices has also been shown to produce better outcomes in the treatment of cardiac arrhythmias, further contributing to the expansion of the Atrial Fibrillation market during the forecast period.
Catheter ablation is a minimally invasive procedure used to treat irregular heartbeats when medication is ineffective. It works by removing the damaged tissue in the heart that causes the arrhythmias, and has a very high success rate of 95%. This method is becoming increasingly popular due to its low risk and high efficacy.
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Key Market Players :
Johnson & Johnson, MicroPort Scientific Corporation, Boston Scientific Corporation, st. jude medical, Medtronic plc, Abbott Laboratories, Biotronik SE & Co. KG, Koninklijke Philips N.V., Siemens AG, AtriCure Inc
Leading healthcare and medical device companies are investing in advanced catheter ablation technology to treat atrial fibrillation and reduce the risk of stroke in patients. For example, Abbott Laboratories recently introduced the TactiFlex PAF IDE ablation catheter, which is specifically designed for patients with symptoms of atrial fibrillation that cannot be treated with medication. The catheter is equipped with sensors to accurately locate and treat the source of the irregular heartbeat.
In 2020, the atrial fibrillation market generated the highest revenue in North America, due to a number of factors. One of the key drivers is the widespread adoption of technologically advanced devices for the treatment of atrial fibrillation in North American countries. Additionally, the rapid increase in cardiac diseases among the aging population presents a significant challenge for healthcare systems, leading to a greater demand for new and innovative products to treat atrial fibrillation. This demand, combined with the high rate of technological advancement in the region, has driven growth in the atrial fibrillation market in North America.
The atrial fibrillation market is segmented into several categories to provide a comprehensive analysis. These segments include:
Type: This segment is divided into surgical and non-surgical treatments for atrial fibrillation.
Technology: This segment is divided into radiofrequency, laser, cryotherapy, and others.
End user: The market is segmented into hospitals, specialty clinics, and others.
Geography: The market analysis is conducted across four regions: North America (the U.S., Canada, and Mexico), Europe (the UK, France, Germany, Italy, and Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, and Rest of Asia-Pacific), and LAMEA (Latin America, the Middle East, and Africa).
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Atrial Fibrillation Market Report Highlights in Detail:
By Type:
Surgical: This segment of the atrial fibrillation market includes surgical procedures such as maze surgery and surgical ablation for the treatment of AFib. The demand for surgical treatments is expected to decline as non-surgical methods become increasingly popular due to their low invasiveness and high success rates.
Non-Surgical: This segment of the atrial fibrillation market includes non-surgical methods such as catheter ablation, electrical cardioversion, and medication management. Non-surgical methods have a higher success rate and are less invasive than surgical methods, making them more popular among patients and healthcare providers.
By Technology:
Radiofrequency: This technology uses radiofrequency energy to destroy the heart tissue that causes AFib. This is a popular technology for non-surgical treatments of AFib and is widely used due to its high success rates.
Laser: This technology uses laser energy to destroy the heart tissue that causes AFib. It is a newer technology that is becoming more popular due to its precise targeting and low invasiveness.
Cryotherapy: This technology uses extremely cold temperatures to destroy the heart tissue that causes AFib. It is a newer technology that is becoming more popular due to its precise targeting and low invasiveness.
Others: This segment of the atrial fibrillation market includes other technologies such as ultrasound and microwave energy that are used for the treatment of AFib.
By End User:
Hospitals: Hospitals are the largest end-users of AFib treatments, as they provide a full range of diagnostic and therapeutic services for AFib patients.
Specialty Clinics: Specialty clinics are becoming increasingly popular for AFib treatments, as they provide specialized services for AFib patients and offer more personalized care.
Others: This segment of the atrial fibrillation market includes other end-users such as research institutions and home healthcare providers.
By Region:
North America: North America is the largest market for AFib treatments, with a high prevalence of AFib and a well-developed healthcare infrastructure.
Europe: Europe is the second-largest market for AFib treatments, with a high prevalence of AFib and a well-developed healthcare infrastructure.
Asia-Pacific: Asia-Pacific is the fastest-growing market for AFib treatments, with a growing aging population and an increasing demand for AFib treatments.
LAMEA: LAMEA is a growing market for AFib treatments, with a growing aging population and an increasing demand for AFib treatments.
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David Correa
Allied Analytics LLP
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