Atrial Fibrillation Market Market Rising Trends and Demands In Medical Industry 2016–2024
Atrial fibrillation, also known as A-fib or AF, is an irregular heartbeat exemplified by rapid and abnormal beating of the heart. Most episodes of atrial fibrillation have no symptoms or fewer symptoms such as intermittent heart palpitations, lightheadedness, fainting, chest pain, and shortness of breath. Atrial fibrillation is linked with an elevated risk of heart failure, stroke, and dementia. The disease is a kind of supraventricular tachycardia. Risk factors associated with atrial fibrillation include valvular heart disease such as coronary artery disease, heart failure, congenital heart disease, and cardiomyopathy as well as high blood pressure. Valvular heart disease majorly occurs due to rheumatic fever, while high alcohol intake, thyrotoxicosis, and diabetes mellitus are other causes. The pulse and post-pulse measurement, via electrocardiogram (ECG) help in the diagnosis of the disease.
According to CDC, 2.7–6.1 million individuals in the U.S. alone suffer from atrial fibrillation and this number is projected to increase with the growing aging population in this country. Around 2% of the population below 65 years of age suffers from AF. However, around 9% of the population aged 65 years and above suffers from AF. The global market for atrial fibrillation is expected to witness significant growth, owing to rising prevalence of AF, primarily due to the rising number of health cases such as diabetes, obesity, and hypertension. The geriatric population is more susceptible to this condition due to their weak immune system. Rising adoption of catheter ablation procedures is expected to fuel growth of the atrial fibrillation market over the forecast period (2016–2024).
Rising prevalence of atrial fibrillation, especially among the geriatric population to drive growth of the atrial fibrillation market
AF increases the life expectancy of a patient, thus the demand for atrial fibrillation is increasing for treatment of the geriatric population. Growing adoption of catheter ablation and advancements in technology are expected to fuel growth of the market for atrial fibrillation. However, lack of skilled professionals and alternative options over AF healing devices are projected to hamper growth of the atrial fibrillation market. According to the National Center for Biotechnology Information (NCBI), the prevalence of AF is estimated to double in a span of two decades (2010–2030). Several government initiatives are working towards making AF more accessible to the general populace. For instance, favorable regulatory steps such as ‘National Programme for Prevention and Control of Diabetes, Cardiovascular Diseases and Stroke (NPDCS)’ undertaken by the Government of India, which aims to prevent and control premature mortality and morbidity from cardiovascular diseases, stroke, and diabetes mellitus. This I turn, is expected to propel growth of the market during the forecast period.
North America holds a dominant position in the market, accounting for the largest market share. The dominance of the market in the region is attributed to high presence of advanced healthcare facilities and higher adoption of technologically advanced devices and treatment measures such as AF in countries such as U.S. and Canada, in the region. The market in Asia Pacific is projected to witness substantial growth in the near future, owing to the growing population in the region and rapidly aging population, who are highly vulnerable to heart diseases. Also, demand for atrial fibrillation treatment devices is estimated to increase, owing to the advancements in healthcare infrastructure and rise in expenditure in the emerging economies such as China and India thereby, fueling market growth over the forecast period.
Some of the major companies operating in the atrial fibrillation market are Cardiofocus, Inc., Biosense Webster, Inc., Biotitic Se & Co. Kg, St. Jude Medical, Inc., Medtronic, Inc., Carima, Inc., Boston Scientific Corporation, Ncontact, Inc., and Agricore, Inc.
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