Report Overview

The global atrial fibrillation market was pegged at US$ 1.4 billion in 2021 and is expected to witness a CAGR of 6.3% during the forecast period.

Market Fundamentals 

A type of cardiac arrhythmia known as atrial fibrillation (AFib) is characterized by an irregular heartbeat brought on by an issue with the heart's electrical system. One of the most common kinds of cardiac arrhythmia is suspected to be this variety. According to the severity of the condition, atrial fibrillation is divided into three groups: paroxysmal (symptoms dissipate within 24 hours), persistent (symptoms persist for more than a week), and permanent (long-term). According to the WHO, atrial fibrillation is the most common arrhythmia. The risk of a blood clot developing in the heart and leading to a stroke is almost five times higher in patients with AF. Any of the other diseases mentioned above may make this risk considerably higher.

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Market Dynamics

The significant rise in AFib prevalence can be attributed to factors such as global aging, improving survival rates of cardiovascular disease patients, and the rising prevalence of AFib risk factors like hypertension and obesity. Atrial fibrillation is also in demand due to improvements in detection technologies and an increase in the use of Electrocardiography (ECG), both in conventional clinical settings and through wearable or implantable devices with continuous AFib-detecting capabilities. Increased comorbidities such as high body mass index, diabetes, hypertension, and chronic lung disease can further contribute to the rising acceptance of AFib.

Market Ecosystem

The global atrial fibrillation market has been analyzed from four perspectives: type, technology, end-user and region.

Atrial Fibrillation Market by Type

Based on type, the global atrial fibrillation market has been segmented into surgical and non-surgical. The surgical segment had the most significant revenue share due to the increased use of cardiac monitoring systems to treat atrial fibrillation. The number of patients with arrhythmia or a condition with an irregular heartbeat has increased, which has increased the demand for cardiac monitors.

Atrial Fibrillation Market by Technology

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The global atrial fibrillation market has been segmented based on technology such as radiofrequency, laser, cryotherapy, and others. Due to the higher success rates of these procedures, radiofrequency ablation is anticipated to hold significant shares in the atrial fibrillation devices market over the following years.

Atrial Fibrillation Market by End-user

Based on end users, the global atrial fibrillation market has been segmented into hospitals, specialty clinics, electrophysiology, and others. Hospitals have seen the largest revenue growth due to laser and radiofrequency catheter ablation techniques. In 2019, the novel coronavirus (COVID-19) expanded quickly across many countries and regions, significantly impacting people's lives and expanding the atrial fibrillation market.

Atrial Fibrillation Market by Region

Based on region, the global atrial fibrillation market has been segmented into North America, Europe, Asia Pacific, and the Rest of the World (RoW). The most revenue was generated in North America. The main factor fueling the growth of the atrial fibrillation market is the rising adoption of technologically advanced atrial fibrillation devices in North American countries. Furthermore, the massive increase in heart problems among an aging population is one of the healthcare systems' most significant challenges. As a result, various cutting-edge treatments are authorized and made available in North American countries to resolve this concern, driving the atrial fibrillation market forward.

Asia Pacific is predicted to stake a robust revenue CAGR over the forecast period due to the rising prevalence of atrial fibrillation among the geriatric population, the availability of cutting-edge medical equipment and skilled professionals, rising investments to speed up R&D activities, the creation of effective atrial fibrillation medical management plans, and the expanding use of atrial fibrillation treatment devices.

Competitive Landscape

Some of the major players in the global atrial fibrillation market include 

• Abbott Laboratories
• Atricure Inc.
• Johnson & Johnson 
• Microport Scientific Corporation
• Boston Scientific Corporation 
• Biosense Webster, Inc.
• Siemens AG
• Medtronic Plc 
• Koninklijke Philips N.V.
• Cardiofocus, Inc.
• Biotitic Se & Co. Kg, Inc.
• Carima, Inc.
• Ncontact, Inc.
• Agricore, Inc. 

The market under study is fragmented and very moderately competitive. The atrial fibrillation market comprises domestic and international companies concentrating on developing innovative product launches; increased R&D activities are also monitoring the emergence of new competitors.

Strategic Developments

• In April 2021, according to an announcement from Tempus, the US Food and Drug Administration designated the company's ECG Analysis Platform as a breakthrough device. Using technologies developed in partnership with Geisinger, doctors can more easily identify patients who are more likely to experience atrial fibrillation (AFib) or atrial flutter.
• In February 2021, the DiamondTemp Ablation (DTA) system from Medtronic was approved by the FDA to treat people with recurrent, symptomatic paroxysmal atrial fibrillation (AF) who have not responded to pharmaceutical treatment. The DiamondTemp system is an irrigated, temperature-controlled radiofrequency (RF) ablation tool that ablates using diamonds.

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