PUBLISHER: Bizwit Research & Consulting LLP | PRODUCT CODE: 1472126
PUBLISHER: Bizwit Research & Consulting LLP | PRODUCT CODE: 1472126
Global Atrial Fibrillation Market is valued at approximately USD 22.4 billion in 2022 and is anticipated to grow with a healthy growth rate of more than 10.1% over the forecast period 2023-2030. Atrial fibrillation (AFib) is a common heart rhythm disorder characterized by irregular and fast heartbeats. In AFib, the heart's upper chambers (atria) beat chaotically and out of sync with the lower chambers (ventricles), leading to an irregular heartbeat. This irregularity results in poor blood flow to the body, increasing the risk of complications such as blood clots, stroke, heart failure, and other heart-related complications. AFib occurs occasionally or becomes a chronic condition. Symptoms of AFib include palpitations, chest pain, shortness of breath, fatigue, dizziness, and fainting. Treatment for AFib aims to restore normal heart rhythm, control heart rate, prevent blood clots, and reduce the risk of complications. The rising prevalence of AFib globally, driven by factors such as ageing populations, sedentary lifestyles, obesity, and underlying cardiovascular conditions, is a major driver for market growth. According to the National Institutes of Health (NIH), in Asia, the prevalence of atrial fibrillation cases is forecasted to surge to 72 million by the year 2050. Meanwhile, the National Institutes of Health (NIH) stated that, in Europe, the population aged 55 and older diagnosed with atrial fibrillation is anticipated to rise from 9 million in 2010 to 17.9 million by the year 2060. The Atrial Fibrillation Market is expanding because of factors such as the increase in government initiatives and healthcare reforms, coupled with the increased awareness of AFib among healthcare professionals and patients, along with improved diagnostic techniques.
In addition, the rising inclination towards minimally invasive procedures for AFib treatment, such as catheter ablation and left atrial appendage closure (LAAC) is acting as a catalyzing factor for market growth across the globe. These procedures offer patients shorter recovery times, fewer complications, and improved outcomes compared to traditional surgical approaches. According to Statista, the minimally invasive surgery market worldwide accounted for nearly USD 20.5 billion in 2019. Also, the amount is projected to grow and is likely to reach around USD 44.04 billion by 2030. Thus, these aforementioned factors are propelling the growth of the Atrial Fibrillation Market during the estimated period. Moreover, the increasing research and development activities, as well as the rising number of programs to enhance public awareness present various lucrative opportunities over the forecast years. In January 2022, Peerbridge Health partnered with Northwell Health to launch the AFib Center of Excellence, a collaborative initiative aimed at optimizing treatment for patients with atrial fibrillation (AFib). With Peerbridge's support, Northwell's AFib Center of Excellence will initiate a pilot program focused on AFib patients with undiagnosed obstructive sleep apnea (OSA). The pilot program aims to enhance the understanding among cardiology and sleep physicians regarding the crucial link between the two conditions and the most effective strategies for concurrent treatment of AFib and OSA. These advancements in atrial fibrillation therapeutics are anticipated to propel market growth. However, the high costs associated with AFib procedures and devices, along with the regulatory issues associated with the devices are challenging the market growth throughout the forecast period of 2023-2030.
The key regions considered for the Global Atrial Fibrillation Market study include Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. North America dominated the market in 2022 owing to the escalating incidence of atrial fibrillation and a substantial patient population in the region. The presence of key industry players further reinforces this market dominance. According to the Centers for Disease Control and Prevention (CDC), between 2.7 million and 6.1 million Americans were reported to have atrial fibrillation in 2019, with an estimated 12.1 million individuals projected to be affected by the condition by 2030. Whereas Asia Pacific is expected to grow at the highest CAGR over the forecast years. The rise in the prevalence of cardiovascular diseases and atrial fibrillation in the region, along with growing investments in research and development aimed at advancing cardiac care. Additionally, shifting dietary patterns and sedentary lifestyles are fueling the surge in cardiovascular diseases resulting in increasing the demand for effective treatment solutions across the region, which, in turn, are significantly propelling the market demand across the region.
The objective of the study is to define the market sizes of different segments & countries in recent years and to forecast the values for the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters to detailed information about the crucial aspects such as driving factors & challenges that will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with a detailed analysis of the competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
List of tables and figures and dummy in nature, final lists may vary in the final deliverable
List of tables and figures and dummy in nature, final lists may vary in the final deliverable