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Atrial fibrillation is a type of cardiac arrhythmia distinguished by an abnormal cardiac rhythm caused by a disturbance in heart’s electrical system. It is considered to be one of the most prevalent types of cardiac arrhythmia. General symptoms associated with atrial fibrillation include, fluttering heartbeat, irregular pulse, weakness, dizziness, and fatigue.

Statistics:

The global atrial fibrillation market is estimated to account for US$ 40,601.7 Mn in terms of value by the end of 2027.

Global Atrial Fibrillation Market: Drivers

High prevalence of atrial fibrillation is expected to propel growth of the global atrial fibrillation market over the forecast period. For instance, according to the study ‘Prevalence of atrial fibrillation (AF) in different socioeconomic regions of China and its association with stroke: Results from a national stroke screening survey’, published in June 2018, the prevalence of AF among Chinese adults aged 40 years in 2014–2015 was 2.31%.

Moreover, increasing geriatric population is also expected to aid in growth of the global atrial fibrillation market. For instance, according to the World Health Organization, geriatric population is expected to reach 2 billion by 2050, up from 900 million in 2015.

Statistics:

North America held dominant position in the global atrial fibrillation market in 2019, accounting for 43.4% share in terms of value, followed by Europe and Asia Pacific, respectively.

Figure 1: Global Atrial Fibrillation Market Share (%) Value, By Region, 2019

Global Atrial Fibrillation Market: Restraints

Stringent product approval regulations are expected to hinder growth of the global atrial fibrillation market. Atrial fibrillation devices such as implantable pacemakers, defibrillators, and catheters are regarded as class III high risk medical devices by the U.S. FDA. Therefore, these devices undergo rigorous safety and efficacy tests prior to receiving an approval. Moreover, these devices also need to obtain a premarket approval which is an expensive and lengthy affair.

Moreover, recall of products is also expected to hinder growth of the global atrial fibrillation market. For instance, in February 2019, Medtronic Plc received FDA product recall for implanted cardiac pacemakers, which affected 13,440 devices manufactured and distributed between March 2017 and January 2019.

Atrial Fibrillation Market Report Coverage Report Coverage Details Base Year: 2019 Market Size in 2019: US$ 14,804.5 Mn Historical Data for: 2016 to 2019 Forecast Period: 2020 to 2027 Forecast Period 2020 to 2027 CAGR: 13.4% 2027 Value Projection: US$ 40,601.7 Mn Geographies covered: North America: U.S., Canada

U.S., Canada Latin America: Brazil, Argentina, Mexico, Rest of Latin America

Brazil, Argentina, Mexico, Rest of Latin America Europe: Germany, U.K., France, Spain, Italy, Russia, Rest of Europe

Germany, U.K., France, Spain, Italy, Russia, Rest of Europe Asia Pacific: China, Japan, India, Australia, South Korea, ASEAN, Rest of Asia Pacific

China, Japan, India, Australia, South Korea, ASEAN, Rest of Asia Pacific Middle East: GCC Countries, Israel, Rest of Middle East

GCC Countries, Israel, Rest of Middle East Africa: North Africa, Central Africa, South Africa Segments covered: By Procedure: Pharmacological: Anti-arrhythmic, Anti-coagulant. Non-Pharmacological: Catheter Ablation Procedures, Maze surgery, Electric Cardioversion.

Companies covered: AtriCure, Inc., Biosense Webster, Inc., Boehringer Ingelheim GmbH, Boston Scientific Corporation, Bristol-Myers Squibb Corporation, CardioFocus, Inc., Endoscopic Technologies, Inc., Sanofi Aventis, Johnson and Johnson Ltd., and Abbott Laboratories. Growth Drivers: Increasing prevalence of atrial fibrillation

Approval and launch of new products Restraints & Challenges: Product recall

Stringent Regulation

Global Atrial Fibrillation Market: Opportunities

Use of Artificial Intelligence (AI) in diagnosis of atrial fibrillation is expected to offer lucrative growth opportunities for players in the global atrial fibrillation market. For instance, in August 2019, a team of researchers from Mayo Clinic reported development of a rapid, AI-based test that can identify patients with an abnormal heart rhythm, in the journal The Lancet.

Moreover, high prevalence of atrial fibrillation in athletes is also expected to aid in growth of the market. For instance, in July 2019, researchers from Miller Family Heart and Vascular Institute at the Cleveland Clinic reported in the Journal of the American Heart Association that retired NFL players were five times more likely to have atrial fibrillation.

Statistics:

The global atrial fibrillation market was valued at US$ 14,804.5 Mn in 2019 and is forecast to reach a value of US$ 40,601.7 Mn by 2027 at a CAGR of 13.4% between 2020 and 2027.

Figure 2: Global Atrial Fibrillation Market Value (US$ Mn), 2016 – 2027

Market Trends/Key Takeaways

High prevalence of obesity is expected to propel growth of the global atrial fibrillation market over the forecast period. For instance, the study, ‘Rising incidence of obesity in Saudi residents. A threatening challenge for the surgeons’, published in the International Journal of Health Sciences, in January 2018, reported obesity in 42% of the study population with low physical activity levels and unhealthy dietary habits.

Moreover, high consumption of alcohol is also expected to aid in growth of the market. For instance, according to the 2018 National Survey on Drug Use and Health, in the U.S., around 164.8 million people aged 12 or older in the U.S. were past month substance users that included tobacco, alcohol, or illicit drugs.

Global Atrial Fibrillation Market: Competitive Landscape

Major players operating in the global atrial fibrillation market include, AtriCure, Inc., Biosense Webster, Inc., Boehringer Ingelheim GmbH, Boston Scientific Corporation, Bristol-Myers Squibb Corporation, CardioFocus, Inc., Endoscopic Technologies, Inc., Sanofi Aventis, Inc., Johnson and Johnson Ltd., and Abbott Laboratories.

Global Atrial Fibrillation Market: Key Developments

Major players in the global atrial fibrillation market are focused on approval and launch of new devices to expand their product portfolio. For instance, in May 2020, CardioFocus, Inc. received the U.S. Food and Drug Administration approval for the next-generation HeartLight X3 Endoscopic Ablation System for the treatment of drug refractory recurrent symptomatic paroxysmal atrial fibrillation.