Atrial fibrillation is a heart symptom where the person has an irregular or fast heart rhythm. It raises complications and dangers of chest pain, heart strokes, congestive heart failure, or cardiac discomfort. Some of the typical indications of AF are dizziness, confusion, fainting, or tiredness. There has been promising development in the technological advancement of procedures to treat such condition and are being adopted by the hospitals and clinics.
The global atrial fibrillation market was USD 5.16 billion in 2018 and is estimated to reach USD 12.47 billion by 2025 at a CAGR of 13.43% during the forecast period
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Growth by Region
Europe dominates the global market for atrial fibrillation and is likely to continue during the forecast period owing to factors such as rise in the adoption of technologically advanced technologies and advanced healthcare facilities and infrastructure in the region. The devices are often approved in Europe before entering the US market and the increasing number of catheter ablation procedures contributes towards the growth of the market in this region. Asia Pacific is expected to have the highest growth rate during the forecast period which can be attributable to factors like its huge patient base and population, its increasing need for atrial fibrillation devices owing to better medical infrastructure and high Chinese & Indian healthcare costs.
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Drivers vs Constraints
The factors that drive the market are AF cases within the elderly population, preference for catheter ablation, and escalating technological developments. Also various lifestyle illnesses, poor eating habits, and sedentary occupations may also cause a surge in cardiac issues eventually propelling the industry. High cost of treatment, lack of skilled professionals and inclination towards pharmaceutical drugs over AF therapeutics are factors that can hampers the growth of the market.
Industry Trends and Updates
In July 2018, Boston Scientific Corporation acquired Cryterion Medical. It is a privately held company which is developing a single-shot cryoablation platform for the treatment of atrial fibrillation (AF). This addition positions the company as the first to have both cryothermal and radiofrequency (RF) single-shot, balloon-based ablation therapies in its portfolio.
In October, 2017 Boston Scientific Corporation announced to acquire Apama Medical Inc. It is developing the Apama Radiofrequency (RF) Balloon Catheter System for the treatment of atrial fibrillation (AF)