Atrial Fibrillation Market by Type (Surgical, Non-Surgical), by Technology (Radiofrequency, Laser, Cryotherapy, Others), by End User (Hospitals, Specialty Clinics, Others): Global Opportunity Analysis and Industry Forecast, 2020-2030
The global 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.
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Atrial fibrillation is a type of irregular heartbeat characterized by rapid and irregular beating. Blood may clot and congest in the atria at the same time because of insufficient blood received by ventricles. These clots can enter the circulation and reach the brain, causing stroke. The transmission of electrical impulses to the lower heart chambers is disrupted in atrial fibrillation, which causes a rapid, slow, or irregular heartbeat. During atrial fibrillation, upper chamber and lower chamber of the heart beat irregularly, chaotically, and out of sync, which causes shortness of breath, chest pain, weakness, ad lightheadedness or fainting.
Key players focus on expanding their portfolio by introducing technologically developed products, which re expected to help reduce the risk of stroke and atrial fibrillation in patients. For instance, in April 2021, ArtiCure, Inc., a major pioneer in atrial fibrillation (Afib) therapy introduced Epi-Sense System, which is approved by the U.S. Food & Drug Administration (FDA). Epi-Sense System is used to treat patients with long-standing persistent cardiac arrhythmias or atrial fibrillation.
However, during the COVID-19 pandemic lockdown, various manufacturers in the atrial fibrillation market had to stop their business in countries, such as China, the U.S., and India, which negatively affected the atrial fibrillation market growth. This break directly impacted the sales and decline in atrial fibrillation market share. In addition, lack of manpower and raw materials also constricted supply of equipment of atrial fibrillation, which negatively influenced the growth of the market. However, reopening of production facilities and introduction of vaccines for COVID-19 are anticipated to lead to re-opening of atrial fibrillation companies.
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Key Findings Of The Study
- The report provides an extensive analysis of the current and emerging atrial fibrillation market trends and dynamics.
- Depending on type, the surgical segment dominated the atrial fibrillation market, in terms of revenue in 2020 and is projected to grow at a significant CAGR during the forecast period.
- By technology, the radiofrequency segment registered highest revenue in 2020.
- By end user the hospitals segment registered highest revenue in 2020.
- Asia-Pacific is projected to register highest growth rate in the coming years.
- The report provides atrial fibrillation market forecast analysis from 2021 to 2030.
- Depending on type, the surgical segment dominated the atrial fibrillation market, in terms of revenue in 2020 and is projected to grow at a significant CAGR during the forecast period.
- The key players within the atrial fibrillation market are profiled in this report, and their strategies are analyzed thoroughly, which help understand competitive outlook of the atrial fibrillation industry.
- The report provides an extensive analysis of the current trends and emerging opportunities of the atrial fibrillation market size.
Key Market Segments
- BY TYPE
- Surgical
- Non-Surgical
- BY TECHNOLOGY
- Radiofrequency
- Laser
- Cryotherapy
- Others
- BY END USER
- Hospitals
- Specialty Clinics
- Others
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