Industry Outlook and Trend Analysis
The Atrial Fibrillation Market was worth USD 3.43 billion in the year 2013 and is expected to reach approximately USD 8.96 billion by 2023, while registering itself at a compound annual growth rate (CAGR) of 11.25% during the forecast period. The worldwide atrial fibrillation market is anticipated to encounter a critical development over the figure time frame. Increasing predominance of atrial fibrillation in geriatric population, mechanical headwaysand increment in inclination of catheter removal for cardiovascular arrhythmia treatment will drive the atrial fibrillation market over the forecast period. However, deficiency of talented experts and negative inclination towards pharmaceutical mediations (drugs) over AF treatment gadgets are relied upon to ruin the atrial fibrillation market growth.
Product Type Outlook and Trend Analysis
On the basis of product type, the worldwide atrial fibrillation market is segmented into Access Devices, EP Mapping & Recording Systems, Cardiac Monitors, EP Ablation Catheters, EP Diagnostic Catheters, LAA Closure and Other Product Types. Cardiac Monitors section is expected to demonstrate highest market share over the forecast period owing to the increasing incidence of valvular heart disease and high blood pressure. Moreover, rising prevalence of atrial fibrillation among the geriatric population is likewise filling the development of the market.
Application Outlook and Trend Analysis
The worldwide atrial fibrillation market is segmented into Surgical, EP Ablation and Diagnostic on the basis of applications. EP Ablation section of the application segment is expected to demonstrate highest market share over the forecast period as it is generally utilized as surgical devices for the treatment of heart arrhythmias. Moreover, EP Ablation is mostly preferred when anticoagulant drugs and different meds cannot be regulated or endured by the patient. Hence, this section is expected to show significant growth of the atrial fibrillation market in the upcoming years.
End User Outlook and Trend Analysis
The worldwide atrial fibrillation market is segmented into Electrophysiology Labs, Hospitals and Ambulatory Surgical Center on the basis of end users. Hospital section of the end user segments is expected to demonstrate highest market share over the forecast period owing to the increased applications of catheter ablation for curing atrial fibrillation. Moreover, increasing interest for minimally invasive procedures and better imaging is bringing about the makers putting resources into innovative work for presenting mechanically propelled catheter removal strategy. In addition, rising number of hospitals is utilizing a blend of both devices and medications to treat atrial fibrillation.
Regional Outlook and Trend Analysis
North America held a significant share of the atrial fibrillation market in 2014 due to the increasing awareness of the people towards to minimally invasive procedures and increase in disposable income especially among middle income group. The Asia-Pacific market has not experienced any substantial growth due to high pricing and low Government initiatives towards the market, but can experience favorable growth in coming years owing to increasing in disposable income in the region.
The market includes various competitors prevailing across regions. The major players in the market are Abbott Laboratories, Biosense Webster, Inc., Medtronic Plc, MicroPort Scientific Corporation, Boston Scientific Corporation, Biotronik SE & Co. KG, CardioFocus, Inc., AtriCure Inc., Koninklijke Philips N.V., and Osypka AG.
The Atrial Fibrillation Market is segmented as follows-
By Product Type:
EP Mapping & Recording Systems
EP Ablation Catheters
EP Diagnostic Catheters
Other Product Types
By End User:
Ambulatory Surgical Center
Rest of Europe
Rest of Asia Pacific
Rest of the World
United Arab Emirates
Some of the key questions answered by the report are:
What was the market size in 2014 and forecast from 2014 to 2023?
What will be the industry market growth from 2014 to 2023?
What are the major drivers, restraints, opportunities, challenges, and industry trends and their impact on the market forecast?
What are the major segments leading the market growth and why?
Which are the leading players in the market and what are the major strategies adopted by them to sustain the market competition?