Atrial Fibrillation Surgery Market Size, Industry Analysis Report, Regional Outlook, Application Growth Potential, Competitive Market Growth & Forecast, 2021 – 2027
Report ID: GMI1831
Atrial Fibrillation Surgery Market size is projected to experience significant growth from 2017 to 2024.
Atrial fibrillation (AF) surgery market size should witness significant growth due to increased prevalence of atrial fibrillation over the last few years. Rising geriatric population coupled with increased prevalence of heart diseases will drive the global atrial fibrillation surgery market size. It is most commonly occurring dysrhythmia worldwide. An estimated three million adults have diagnosed with the disease in the U.S. with its prevalence expected to reach four million by 2030, and 5.6 million by 2050.
Increasing global prevalence of obesity due to sedentary lifestyle, lack of physical activity and unhealthy dietary habits will increase the number of surgeries performed. As per WHO, in 2014, about 13% of adults were obese while 39% were overweight. Obesity leads to various types of cardiac disorders and is the second leading cause of preventable death in the U.S.
Increasing number of programs to enhance public awareness will create immense growth opportunities. For instance, World Heart Federation has created campaign known as Global Atrial Fibrillation Action (GAFA) campaign in order to encourage its members and individuals to fight against disease related strokes. The main objective of GAFA is to reduce premature cardiovascular disorder mortality up to 25% by 2025. High cost associated with the treatment and limited reimbursement policies in low and middle-income countries may hamper the atrial fibrillation surgery market growth during the forecast period.
Based on the product, the industry is categorized into catheter ablation and surgical ablation. Catheter ablation holds larger revenue share due to added advantages over the other methods. Radiofrequency ablation uses high energy locally deliverable radiofrequency signals to make scars.
Based on the end use, the industry is categorized into hospitals, clinics, and others. Hospitals are witnessing for major revenue share due to availability of sophisticated technologies for disease treatment. The burden of treatment cost is escalating since the past decade. Moreover, collaboration of hospitals with insurers will further boost the hospitals industry size.
U.S. atrial fibrillation surgery market will witness significant growth over the forecast period due to presence of large patient pool. As per CDC statistics, 2.7 to 6.1 million people in the U.S were diagnosed with the disorder. About 9% of the U.S. population aged 65 years and above are suffering from the disorder. Increasing geriatric population as well as high prevalence will boost the atrial fibrillation surgery market size.
Germany will exhibit profitable growth over the forecast period. Increased prevalence coupled with adoption of cutting-edge technologies will accelerate the revenue share. China atrial fibrillation surgery market will grow at healthy rate due to presence of large patient pool. Increased health care expenditure coupled with rising awareness among people witnesses to create lucrative growth opportunities.
South Africa will grow at robust rate in coming years due to increased prevalence and rise in the awareness of advanced treatment methods. Increased sedentary lifestyle, changes in dietary habits and increase obese population will boost the Saudi Arabia industry share. Favorable government policies and availability of state of art technologies will fuel the regional industry share.
Some of the players in atrial fibrillation surgery market include, Boston Scientific, Medtronic, Biosense Webster, St. Jude Medical, Cardiofocus, Articure, Biotronik, and Cardima. The industry players focus on strategic alliances and innovative product launch to expand their business portfolio as main strategies.
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