Global Atrial Fibrillation Device Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global Atrial Fibrillation Device Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Atrial fibrillation is one of the most common arrhythmia, which is caused by many small reentrant rings led by atrium. It is found in almost all organic heart diseases, and can also occur in non-organic heart diseases. It causes serious complications, such as heart failure and arterial embolism, which seriously threatens people's health. Atrial Fibrillation Device aims to treat arrhythmia by controlling arrhythmia and preventing thrombosis.

Market Overview:

The latest research study on the global Atrial Fibrillation Device market finds that the global Atrial Fibrillation Device market reached a value of USD 8979.74 million in 2022. It’s expected that the market will achieve USD 21709.02 million by 2028, exhibiting a CAGR of 15.85% during the forecast period.

Influence of COVID-19 Outbreak on Atrial Fibrillation Device Industry Development

The Covid-19 pandemic has caused great interference to the global routine hospital services. Especially, countries or regions with serious epidemic situation are facing the shortage of medical resources. The aggravation of Covid-19 epidemic has brought severe challenges to the normal operation of the global medical system. In related reports, Haytham Kaafarani, director of surgery at the Center for Surgical Efficacy and Patient Safety of Massachusetts General Hospital, said that by 2020, the number of operations cancelled due to the epidemic will reach about 28.4 million cases worldwide. A large number of operations were cancelled during the epidemic, which means that the demand for medical equipment in medical institutions will be greatly reduced in the short term.

In addition, the global supply chain was interrupted by the epidemic. Due to the spread of novel coronavirus, many parts companies around the world have suspended or postponed their production plans, which will involve medical manufacturing companies. The shortage of upstream companies will also affect Atrial Fibrillation Device. Parts manufacturing companies have a negative impact. Order reduction and supply chain interruption will reduce the utilization rate of Atrial Fibrillation Device.

However, after the epidemic is alleviated, medical institutions will continue to digest cancelled and postponed operations in the next one to two years. Haytham Kaafarani said it would take at least 45 weeks to complete the delayed operation. The massive accumulation of surgery will lead to a great increase in the demand for medical equipment including Atrial Fibrillation Device in medical institutions.

Strength

Increased incidence of atrial fibrillation
Atrial fibrillation, referred to as atrial fibrillation, is the most common persistent arrhythmia in clinic. During atrial fibrillation, the atrium loses its normal and effective systolic function, and is in a state of rapid and disordered fibrillation, with the frequency as fast as 300-600 beats/min, and the ventricular beats rapidly and irregularly, reaching 100-200 beats/min.
When atrial flutter or atrial fibrillation occurs, patients may have uncomfortable symptoms such as palpitation, chest tightness, shortness of breath, dizziness and fatigue; In severe cases, angina pectoris, acute left heart failure or shock may occur. At the same time, blood is easy to stagnate in the atrium and form thrombus. Once the thrombus in the atrium falls off, it will be stuck in a certain part of the body along the blood flow, which will cause blood vessel blockage, resulting in embolism of limb artery, mesenteric artery and even cerebral artery. The lighter one will cause disability and the heavier one will lead to death. A few patients with atrial fibrillation have no symptoms, but are found by chance. Although these patients have no symptoms, the harm still exists.
At the same time, it is found that there are many causes of atrial fibrillation, mainly diseases of the heart itself. Common causes are as follows: 1. Hypertension. Hypertension accounts for 9.3% ~ 22.6% of the causes of atrial fibrillation, and the occurrence of atrial fibrillation is related to the abnormal electrophysiology of hypertrophic myocardium caused by hypertension. 2. Coronary heart disease 3. Rheumatic heart valve disease is a common cause, and most of them are women. 4. Other heart diseases such as pulmonary heart disease, cardiomyopathy and congenital heart disease often lead to atrial fibrillation. 5. Inducements such as heavy drinking, smoking, fatigue, emotional excitement, mental stress, caffeine intake, hypoxia, electrolyte disorder, serious infection and the influence of some drugs can induce atrial fibrillation.
Because the etiology is complex, it is harmful to human body and affects people's quality of life. Therefore, medical experts and patients pay more and more attention to atrial fibrillation. Studies have shown that in the United States, about 2-4 million new patients are diagnosed with atrial fibrillation every year, and the incidence of atrial fibrillation will increase. It is predicted that atrial fibrillation will become one of the most popular cardiovascular diseases in the next 50 years. The increasing incidence of atrial fibrillation will directly promote the growth of Atrial Fibrillation Device market.

Population Aging & Growth of Chronic Diseases

Under the modern lifestyle, people are under great pressure in their work and life. Long-term sedentary and lack of exercise, combined with unhealthy diet and eating a large number of high-fat and high-calorie foods, lead to obesity and other cardiovascular diseases, such as chronic diseases such as heart disease, stroke and ischemic heart disease (IHD), and further lead to atrial fibrillation. In addition, the growing elderly population is another important factor driving the growth of the global Atrial Fibrillation Device market. The prevalence and incidence of atrial fibrillation increase with age. According to the Journal of Internal Medicine of American Medical Association, the prevalence rate of atrial fibrillation is 2.3% (over 40 years old) and 5.9% (over 65 years old). Almost 70% of people aged 65-85 have it. The aging of population and the growth of chronic diseases will effectively promote the growth of Atrial Fibrillation Device market.

Region Overview:

From 2022-2027, North America is estimated to witness robust growth prospects.

Company Overview:

Medtronic PLC is one of the major players operating in the Atrial Fibrillation Device market, holding a share of 26.24% in 2021.

Medtronic is a global healthcare solutions company operating in approximately 160 countries. Medtronic has four main business units: the Minimally Invasive Therapies Group, the Diabetes Group, the Restorative Therapies Group, and the Cardiac and Vascular Group. Medtronic develops and manufactures devices and therapies to treat more than 30 chronic diseases, including heart failure, Parkinson disease, urinary incontinence, Down syndrome, obesity, chronic pain, spinal disorders and diabetes.

Abbott Laboratories is a U.S. health care company. It specializes in cardiovascular, diagnostics, diabetes and neuromodulation products.

Segmentation Overview:

Among different product types, EP Ablation Catheters segment is anticipated to contribute the largest market share in 2027.

Application Overview:

By application, the Hospitals segment occupied the biggest share from 2017 to 2022.

Key Companies in the global Atrial Fibrillation Device market covered in Chapter 3:

Medtronic PLC
Boston Scientific Corporation
Lepu
Biotronik SE & Co. KG
Abbott Laboratories, Inc.
MicroPort Scientific Corporation
AtriCure, Inc.
OSYPKA AG
Philips
Japan Lifeline
CardioFocus, Inc.
Johnson & Johnson

In Chapter 4 and Chapter 14.2, on the basis of types, the Atrial Fibrillation Device market from 2018 to 2029 is primarily split into:

EP Ablation Catheters
EP Diagnostic Catheters
Mapping and Recording Systems
Cardiac Monitors or Implantable Loop Recorder
Access Devices
Intracardiac Echocardiography
Left Atrial Appendage Closure Devices

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Atrial Fibrillation Device market from 2018 to 2029 covers:

Hospitals
Ambulatory Surgical Centers
Cardiac Catheterization Laboratories

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)