"Atrial fibrillation devices market to exhibit rapid profitable growth during the forecast period"

The global atrial fibrillation devices market accounted for market value of US$ 4,884.9 Mn in 2017 and expected to attain US$ 17,867.3 Mn by 2026. Worldwide growing geriatric population coupled with rising prevalence of obesity and hypertension are anticipated to nurture the market growth over the forecast period. In addition, technological developments in atrial fibrillation devices and the presence of favorable government initiatives across various countries expected to assist in the market growth.

Geriatric population is prone to develop chronic diseases such as atrial fibrillation and arrhythmia. The World Health Organization (WHO) projected worldwide population aged 60 years and above will upsurge from 962.0 million in 2017 to more than 2.0 billion in 2050 to 3.1 billion by 2100. Increasing prevalence of obesity and hypertension across the world leads to development of atrial fibrillation (AF or Afib). For instance, as per data published by the WHO, in 2016, over 1.9 billion population was overweight, of these more than 650.0 million adults were obese. This population further grew to 2.1 billion that is nearly 30.0% of the world’s population. As per an article published in the Journal of the American Society of Hypertension, worldwide prevalence of hypertension was 1.39 billion in 2010, which is anticipated to reach to 1.56 billion by 2025.

Technological developments in atrial fibrillation devices such as new 3D mapping technology is featured in ablation catheters that decreases fluoroscopy time and radiation dose for patients by tracking real time of device. Moreover, novel techniques such as convergent procedure, focal impulse and rotor modulation (FIRM) ablation, and WATCHMAN left atrial appendage closure (LAAC) procedure are gaining traction across the globe that is increasing the adoption of atrial fibrillation devices.

"The electrophysiology ablation catheters segment to hold major chunk of the market over the forecast period"

The electrophysiology (EP) ablation catheters segment expected to dominate the market for next nine years owing to rising adoption of radiofrequency and microwave catheter ablation when patients are tolerant to anti-coagulation drugs. Patients who cannot recover from medicines and have symptomatic atrial fibrillation are the major target population for catheter ablation. Moreover, technological advancements such as radiofrequency catheter ablation and microwave-based catheter ablation are supporting the dominance of this segment. The radiofrequency catheter ablation procedure produces less irregular, more dense/homogenous lesions; hence, minimizes the length of procedures.

The cardiac monitors segment is likely to register comparatively higher CAGR over the forecast period due to the emergence of implantable cardiac monitors (ICMs) to monitor atrial fibrillation. The ICMs assess infrequent or potentially asymptomatic arrhythmias, evaluate unexplained syncope, and constantly monitor the electrocardiogram of patients and perform real-time analysis of the heart rhythm for up to 36 months. The ICMs are placed subcutaneously which automatically detect & record abnormal heart rhythms for up to five years. Other cardiac monitors such as holter monitor, event recorder, and mobile cardiac telemetry (MCT) are also used to monitor heart rhythms.

"Hospitals segment contribute maximum to the overall growth of atrial fibrillation devices market"

As per the data provided by the Cybermetrics Lab, a research group of the Spanish National Research Council/Consejo Superior de Investigaciones Científicas (CSIC) currently there are more than 16,500 hospitals across the globe. Worldwide surge in the number of hospitals coupled with comparatively higher adoption of atrial fibrillation devices during Afib procedures is supporting the dominance of the hospitals segment. Catheter ablations have become increasingly popular over the years and majorly performed in hospitals.

"Higher spending on Afib and the presence of sophisticated healthcare infrastructure holds North America in dominant position"

North America estimated to command the market during 2018 to 2026 due to the presence of sophisticated healthcare infrastructure and higher adoption of advanced technologies in the U.S. and Canada. According to AtriCure, Inc.’s data, U.S. has 6.0 million Afib patients who incurred a total cost of US$ 26.0 billion for the disease in 2017. U.S. holds more than US$ 1.0 billion market for atrial fibrillation devices. Rising prevalence of Afib in the UK, Germany, France and other European countries is also holding substantial market share in 2017. An article published in the European Heart Journal (EHJ) stated that around 4.5 million patients have AF that is forecasted to reach to 17.9 million in Europe by 2060.

Asia Pacific is anticipated to witness fastest market growth in near future owing to the larger population and older age groups that are susceptible to cardiac diseases. Also, growing awareness about Afib procedures, surging geriatric population, and rising healthcare expenditure in India, China, and Japan is expected to contribute to the regional market growth.

"Dominance of established multinational players with strong product portfolio makes market penetration difficult for emerging players"

Major players in this space are Medtronic; Boston Scientific Corporation; AtriCure, Inc.; Abbott Laboratories; Hansen Medical; Stereotaxis, Inc.; Biosense Webster, Inc.; Siemens Healthineers; BIOTRONIK SE & Co. KG; and CardioFocus, Inc. In December 2017, Abbott Laboratories launched Confirm Rx insertable cardiac monitor (ICM), a smartphone compatible ICM across India. This device is helping physicians to detect Afib and monitor their patients. In August 2016, in the U.S., Biosense Webster, Inc. launched THERMOCOOL SMARTTOUCH SF Catheter that to be used during catheter ablation procedures. In January 2014, AtriCure, Inc. acquired Endoscopic Technologies, Inc. (Estech), a California-based medical device manufacturing firm in order to strengthen its surgical ablation devices portfolio and to maintain a leadership position in the atrial fibrillation devices market. Abbott Laboratories and GE Healthcare collaborated in May 2015 to improve treatment of Afib patients and to gain a competitive edge. GE's CardioLab sends electrogram signal data to Abbott's RhythmView mapping software that help doctors in quickly diagnosing the source of heart rhythm disorders.

The current report also comprehends qualitative market assessment factors such as market trends, key market drivers, restraints and opportunities that gives a better market understanding of the overall atrial fibrillation devices market. Furthermore, the report also comprises graphical representation of competitive landscape based on their market initiatives and strategies, product portfolio and business strengths. Key industrial players profiled in the study report are Medtronic; Boston Scientific Corporation; AtriCure, Inc.; Abbott Laboratories; Hansen Medical; Stereotaxis, Inc.; Biosense Webster, Inc.; Siemens Healthineers; BIOTRONIK SE & Co. KG; CardioFocus, Inc.

Historical & Forecast Period

This study report represents analysis of each segment from 2022 to 2032 considering 2023 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2024 to 2032.

The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.

Research Methodology

The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of Atrial Fibrillation Devices market are as follows:

• Research and development budgets of manufacturers and government spending
• Revenues of key companies in the market segment
• Number of end users and consumption volume, price and value.
• Geographical revenues generate by countries considered in the report
• Micro and macro environment factors that are currently influencing the Atrial Fibrillation Devices market and their expected impact during the forecast period.

Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.

Key questions answered in this report

• What are the key micro and macro environmental factors that are impacting the growth of Atrial Fibrillation Devices market?
• What are the key investment pockets with respect to product segments and geographies currently and during the forecast period?
• Estimated forecast and market projections up to 2032.
• Which segment accounts for the fastest CAGR during the forecast period?
• Which market segment holds a larger market share and why?
• Are low and middle-income economies investing in the Atrial Fibrillation Devices market?
• Which is the largest regional market for Atrial Fibrillation Devices market?
• What are the market trends and dynamics in emerging markets such as Asia Pacific, Latin America, and Middle East & Africa?
• Which are the key trends driving Atrial Fibrillation Devices market growth?
• Who are the key competitors and what are their key strategies to enhance their market presence in the Atrial Fibrillation Devices market worldwide?