Atrial Fibrillation Market: Global Size, Share, Trends, Growth and Forecast 2022-2032

Atrial Fibrillation Market: Overview and Definition

The global atrial fibrillation market was estimated to be worth roughly USD 14.6 billion in 2021 and is expected to reach USD 63.2 billion by 2032, at a CAGR of 14.4% over the forecast period of 2022 to 2032. 

Atrial fibrillation refers to an irregular and rapid heart rate when the two upper chambers of heart witness chaotic electrical signals. This leads to fast and irregular heart rhythm. The heart rate in atrial fibrillation generally range from 100 to 175 beats a minute.

Ideally, to treat atrial fibrillation, the heart rate and rhythm should be normal. To correct your condition, doctors may be able to reset your heart to its regular rhythm (sinus rhythm) using a procedure called cardioversion.

Electrical cardioversion aids to treat abnormal heart rhythms. This method is also used to treat atrial fibrillation (AFib). In atrial fibrillation, atria of the heart quiver instead of beating the right way. Symptoms of AFib may include shortness of breath, fatigue and a very fast heartbeat.

In terms of treatment options, anticoagulant and antiarrhythmic drugs are the most commonly used therapies for managing AFib. However, catheter ablation, a minimally invasive procedure that uses radiofrequency or cryotherapy to destroy small areas of heart tissue causing AFib, is becoming increasingly popular. In addition, implantable devices such as pacemakers and implantable cardioverter defibrillators (ICDs) are also used to manage AFib.

Atrial Fibrillation Market: Key Drivers

The atrial fibrillation (AFib) market is expected to grow significantly in the coming years, driven by several key drivers. These drivers include:

Increasing Prevalence of AFib: The prevalence of AFib is increasing worldwide, with millions of people affected by the condition. The aging population, sedentary lifestyle, and rising incidence of obesity and diabetes are some of the factors contributing to the growing prevalence of AFib.

Advancements in Technology: Recent advancements in technology, such as the development of catheter ablation and implantable devices, have improved the diagnosis, treatment, and management of AFib. These new technologies offer more effective and less invasive treatment options, leading to better patient outcomes and driving demand for AFib products and services.

Rising Healthcare Expenditure: Increasing healthcare expenditure, particularly in developed countries, is driving the growth of the AFib market. Governments and private healthcare providers are investing in improving the diagnosis and treatment of AFib, which is fueling demand for drugs, devices, and other products.

Growing Awareness about AFib: As awareness about AFib and its potential complications increases, more patients are seeking diagnosis and treatment. Physicians are also becoming more aware of the condition and its treatment options, leading to increased referrals and demand for AFib products and services.

Favorable Reimbursement Policies: Favorable reimbursement policies for AFib treatments, especially in developed countries, are driving the growth of the market. This is encouraging more patients to seek diagnosis and treatment, and is supporting the adoption of new and innovative treatment options.

Increased geriatric population and preference for catheter ablation for cardiac arrhythmia treatment contributed to the growth of this market. Lifestyle choices like the prevalence of work from home culture and living in a virtual world lead to increased obesity among children and adults, increasing potential for growth and this market as most heart diseases come from lesser daily movement and inefficient cholesterol management.

Consuming a large amount of alcohol also increases the probability of irregular heart rate, which nudges the market in the forward direction in the coming years.
With the advent of AI, big data and machine learning algorithms, companies are known to change the world and develop devices with algorithms for personalized monitoring and make this market an attractive investment opportunity for the future.

The government is investing in research and testing of the innovative solutions developed by various firms such as implantable pacemakers, refrigerators, and catheters regarded as high-risk medical devices by the US FDA. State regulations are also positively impacting the growth in this market.

Atrial Fibrillation Market: Challenges

The atrial fibrillation (AFib) market faces several challenges that could impact its growth and development in the coming years. Some of the major challenges include:

High Cost of Treatment: The cost of treatment for AFib, particularly for the most advanced and innovative therapies, can be very high. This can limit access to treatment for some patients, particularly in developing countries or for those without adequate insurance coverage.

Lack of Skilled Physicians: Treating AFib requires specialized knowledge and training, particularly for complex procedures such as catheter ablation. There is a shortage of skilled physicians in some regions, which can limit patient access to advanced treatments.

Limited Awareness Among Patients: Despite growing awareness about AFib, there is still a lack of understanding among some patients about the condition and its potential complications. This can lead to delays in diagnosis and treatment, and can limit the adoption of new and innovative treatment options.

Stringent Regulatory Environment: The regulatory environment for AFib treatments is complex and stringent, particularly for new and innovative therapies. The regulatory approval process can be time-consuming and costly, which can limit the ability of companies to bring new treatments to market.

Reimbursement Challenges: Although favorable reimbursement policies are a driver of the AFib market, there are also challenges associated with reimbursement. These include changes to reimbursement policies, restrictions on coverage, and delays in reimbursement, which can limit patient access to treatment and impact the profitability of companies in the market.

Atrial Fibrillation Market: Segmentation

By Devices

• Surgical Devices
  • Maze Surgery
  • Catheter Ablation
  • Radiofrequency Catheter Ablation
    • Conventional RF Ablation Catheters
    • Irrigated-tip RF Ablation Catheters
  • Cryoablation
  • Microwave Based Catheter Ablation
  • Laser Based Catheter Ablation
  • Navigational Advanced Mapping Accessories
• Non-Surgical Devices
  • Electric Cardioversion
  • Diagnostic Catheters 
  • Conventional Diagnostic Catheters
    • Fixed Diagnostic Catheters
    • Steerable Diagnostic Catheters
  • Advanced Diagnostic Catheters
  • Mapping and Recording Systems
  • Cardiac Monitors
  • Access Devices
  • Left Atrial Appendage and Closure Devices
  • Intracardiac Echocardiography (ICE) Systems

By Geography 

• North America
  • U.S.
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • France
  • Spain
  • Italy
  • Rest of Europe
• Asia-Pacific
  • Japan
  • India
  • China
  • Australia
  • South Korea
  • Rest of Asia-Pacific
• Latin America-Middle East-Africa
  • Brazil
  • Argentina
  • Egypt
  • Israel
  • South Africa

Atrial Fibrillation Market: Regional Synopsis

In terms of region, the North America region generated the highest market value in 2020. This is due to the refined medical care framework and the high reception pace of exceptionally cutting-edge innovations in North American nations like the U.S., Canada, and Mexico. Additionally, emerging markets, for example, Mexico, have seen critical ventures by the public authority and merchants.

In addition, Asia-Pacific is anticipated to be the quickest developing region during the forecast period because of its large population base and distinctive age groups being powerless to cardiovascular sicknesses. The interest for AF gadgets is relied upon to help because of progress in medical care foundation and consumption in the rising business sectors (like India and China) to meet the clinical necessities in these countries. Japan and China have a huge portion of geriatric urban population which are more prone cardiac malfunctions, and will make the devices in this market more relevant and a lucrative opportunity.

Atrial Fibrillation Market: Key Players

• Menarini,
• Bristol-Myers Squibb,
• Daiichi Sankyo,
• Pierre Fabre,
• Gilead Sciences,
• ARCA Biopharma,
• Xention,
• HUYA Biosciences,
• Servier,
• ChanRx
• Pfizer

Atrial Fibrillation Market: Recent Developments

17-MAY-2021-Finerenone may delay onset of AFib in patients with chronic kidney disease, diabetes- Patients with chronic kidney disease and Type 2 diabetes who took the experimental drug finerenone were about 30% less likely to develop the heart rhythm disorder atrial fibrillation (AFib) than those taking a placebo, according to data presented at the American College of Cardiology's 70th Annual Scientific Session.

May 2020, CardioFocus, Inc. received the U.S. Food and Drug Administration approval for the next-generation HeartLight X3 Endoscopic Ablation System for the treatment of drug refractory recurrent symptomatic paroxysmal atrial fibrillation.