Atrial Fibrillation Devices Market Size, Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, France, Spain, Italy, Japan, China, Australia, India, Brazil, Mexico, Argentina, Saudi Arabia, South Africa, UAE), Application Development Potential, Price Trends, Competitive Market Share & Forecast, 2019 – 2025
Report ID: GMI3165
Atrial Fibrillation Devices Market size is projected to experience significant growth from 2019 to 2025.
Atrial fibrillation devices market will witness significant growth in the future due to high pervasiveness of atrial fibrillation. As per Centers for Disease Control and Prevention (CDC), 2.7-6.1 million people have atrial fibrillation and with the aging population it is expected to grow more in the near future. Hence, it will augment the growth of the atrial fibrillation devices market.
Favorable government regulations regarding application of atrial fibrillation devices are supporting the growing use of such devices. Additionally, technological advancement in the past few years have also escalated the demand of atrial fibrillation devices, thus increasing the market growth.
High cost associated with the use of atrial fibrillation devices is a major hindrance in market growth in the future. Also, lack of healthcare infrastructure in developing economies will impede market growth.
Catheter ablation devices market is expected to show significant growth in the future owing to superior surgery outcomes. As per the American Heart Association (AHA), catheter ablation devices based procedures have a 90 percent favorable result, comparatively low rate of complications and allow individuals to resume regular activities very soon. Furthermore, companies such as Webster, Boston Scientific and Medtronic are investing millions of dollars every year for the development of novel devices to reduce surgical compilations and improve success rates. Aforementioned reasons are major growth drivers for catheter based ablation devices.
Non-pharmacological treatment is projected to show rapid growth in the upcoming period. The benefits of the non-pharmacological treatment include lower risk of side effects compared to other treatment procedures. Hence, low risk and efficient treatments are increasing growth of atrial fibrillation devices market.
Hospitals as an end use will hold the majority shares of the market, as large number of these procedures are performed in hospital settings to ensure safety and efficiency. Increasing demand for atrial fibrillation devices in hospitals for applications in the treatment of various medical conditions will foster market growth.
North America is expected to hold maximum share, as the rate of patients suffering from atrial fibrillation is high in the U.S. Additionally, recent technological advancement will also augment growth of the U.S. market.
Asia-Pacific region is expected to grow at a substantial rate, due to presence of less stringent government regulations regarding product approval of atrial fibrillation market. Additionally, rising competition in the mature markets will compel developers of atrial fibrillation devices to focus on developing markets, thereby favoring regional growth.
Some of the major industry players are Biosense Webster, Inc., Cardima, Inc., St. Jude Medical, Inc., Biotronik SE & Co., Medtronic, Inc., Boston Scientific Corporation, Cardiofocus, Inc., Articure, Inc., and nContact, Inc. These companies focus mostly on strategic alliances, approvals and product launches as their primary market expansion strategies.
Atrial Fibrillation Devices Market, by product type, 2014-2025 (USD Million)
- EP Ablation Catheters
- EP Diagnostic Catheters
- Left atrial appendage (LAA) closure devices
- Cardiac monitors
- Access devices
- Intracardiac echocardiography (ICE) systems
- Catheter ablation devices
- Mapping and recording systems
Atrial Fibrillation Devices Market, by treatment type, 2014-2025 (USD Million)
- MAZE surgery
- Catheter ablation
- Electric cardioversion
Atrial Fibrillation Devices Market, by End-use, 2014-2025 (USD Million)
- Ambulatory surgery centers (ASCs)
The above information is provided for the following regions and countries:
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
- South Africa
- Saudi Arabia
- Biosense Webster, Inc.
- Cardima, Inc.
- St. Jude Medical, Inc.
- Biotronik SE & Co.
- Medtronic, Inc.
- Boston Scientific Corporation
- Cardiofocus, Inc.
- Articure, Inc.
- nContact, Inc.
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