Atrial Fibrillation Market to Reach $3.37 Bn, Globally, by 2030 at 6.4% CAGR: Allied Market Research

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Apr 05, 2022, 09:10 ET

PORTLAND, Ore., April 5, 2022 /PRNewswire/ -- Allied Market Research published a report, titled, "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." According to the report, the global atrial fibrillation industry was estimated at $1.82 billion in 2020, and is anticipated to hit $3.37 billion by 2030, registering a CAGR of 6.4% from 2021 to 2030.

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Drivers, restraints, and opportunities-

Increase in the frequency of atrial fibrillation among the geriatric population, high-end technical developments, and growing preference toward catheter ablation for cardiac arrhythmia therapy drive the growth of the global atrial fibrillation market. On the other hand, scarcity of experienced specialists and preference for pharmacological treatments (drugs) over AF therapy devices hinder the growth to some extent. However, the key players are manufacturing advanced catheter ablation for the treatment of atrial fibrillation and reducing the risk of stroke in patients, which in turn, has paved the way for lucrative opportunities in the industry.

Covid-19 scenario-

The prolonged lockdown measures in the majority of countries gave way to delay in production & manufacturing of atrial fibrillation devices that are utilized in the healthcare sector. This, in turn, impacted the global atrial fibrillation market negatively, especially during the initial phase.
However, the market is anticipated to get back on track soon.

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The non-surgical segment to maintain the dominant share-

By type, the non-surgical segment contributed to the major share in 2020, holding more than half of the global atrial fibrillation market. The heart rate monitoring apps being the most basic ones, and progress of the segment is on the rise. The surgical segment, however, would cite the fastest CAGR of 7.2% during the forecast period. This is because the conventional surgical methods are slowly being replaced by minimal invasive techniques to treat atrial fibrillation.

The radiofrequency segment to rule the roost-

By technology, the radiofrequency segment accounted for the major share in 2020, holding more than three-fifths of the global atrial fibrillation market. Among a lot of different effective ways to treat atrial fibrillation (A-fib), radiofrequency is one of the most preferred treatments that involves putting the heart back into normal rhythm. The laser segment, on the other hand, is expected to grow at the fastest CAGR of 7.3% from 2021 to 2030. Laser method is alternative for catheter ablation system, and it uses open irrigated electrode laser mapping and ablation catheter.

North America garnered the major share in 2020-

By region, the market across North America had the lion's share in 2020, generating nearly two-fifths of the global atrial fibrillation market. This is mainly attributed to the huge patient base suffering from heart diseases and the presence of refined healthcare infrastructure, and highly advanced technologies in North American countries such as the U.S., Canada, and Mexico. The Asia-Pacific region, simultaneously, is projected to portray the fastest CAGR of 8.8% by 2030. Improving healthcare infrastructure and expenditure in the emerging markets to overcome the unmet medical needs is projected to boost the market growth.

Key players in the industry-

MicroPort Scientific Corporation
Medtronic plc.
Biotronik SE & Co. KG
Philips N.V.
Johnson & Johnson
Siemens AG
AtriCure Inc.
CardioFocus, Inc.
Boston Scientific Corporation
Abbott Laboratories

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