Atrial Fibrillation Market Global Opportunity Analysis and Industry Forecast, 2020-2030

PORTLAND, OREGON, UNITED STATES, November 28, 2023 /EINPresswire.com/ -- Allied Market Research recently unveiled a comprehensive 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." This exhaustive study projects a substantial surge in the global atrial fibrillation industry, estimating a remarkable leap from $1.82 billion in 2020 to an impressive $3.37 billion by 2030. The forecast indicates a steady compound annual growth rate (CAGR) of 6.4% from 2021 to 2030.

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Driving Forces:

The market's upward trajectory is propelled by several key factors. An escalating incidence of atrial fibrillation among the geriatric demographic, coupled with advancements in high-end technologies, notably catheter ablation for cardiac arrhythmia therapy, fuels market expansion. Notwithstanding these drivers, challenges persist, such as a scarcity of experienced specialists and a lingering preference for pharmacological treatments over AF therapy devices. Nevertheless, major industry players are pioneering the development of advanced catheter ablation technologies, mitigating stroke risks in patients and creating lucrative opportunities within the sector.

Navigating the Pandemic:

The COVID-19 pandemic introduced its own set of challenges, with prolonged lockdown measures disrupting the production and manufacturing of atrial fibrillation devices. This resulted in a temporary setback for the global atrial fibrillation market, particularly in the initial phases. However, a swift recovery is anticipated as the market adapts to the evolving landscape.

Segment Dynamics:

Non-Surgical Dominance: The non-surgical segment claimed a dominant position in 2020, contributing over half of the global atrial fibrillation market. Notably, heart rate monitoring apps spearhead this segment's growth. Conversely, the surgical segment is projected to witness the fastest CAGR of 7.2% during the forecast period, driven by a transition from conventional surgical methods to minimally invasive techniques.

Technological Landscape: Radiofrequency emerges as the frontrunner in technology, capturing more than three-fifths of the global market in 2020. Its efficacy in restoring normal heart rhythm positions it as a preferred treatment for atrial fibrillation. Meanwhile, the laser segment is poised for rapid growth, with a projected CAGR of 7.3% from 2021 to 2030, offering an alternative to catheter ablation systems.

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Regional Insights:

North America's Dominance: North America asserted its dominance in 2020, contributing nearly two-fifths of the global atrial fibrillation market. This can be attributed to a substantial patient base grappling with heart diseases, coupled with a sophisticated healthcare infrastructure and advanced technologies in countries like the U.S., Canada, and Mexico.

Asia-Pacific's Accelerated Growth: The Asia-Pacific region is forecasted to exhibit the fastest CAGR of 8.8% by 2030. Rising investments in healthcare infrastructure and a focus on overcoming unmet medical needs position this region as a key growth frontier for the atrial fibrillation market.

Key Industry Players:

The competitive landscape is marked by the presence of key industry players spearheading innovation:

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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David Correa
Allied Analytics LLP
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