Atrial fibrillation is a type of arrhythmias refers to as an irregular heart rhythm of the upper chamber of the heart i.e. erratically change of normal sequence electrical impulses. Atrial fibrillation is treated with medications by slowing the heart rate to the rhythm control stage. Atrial fibrillation may lead to blood cloth, heart failure, strokes and other heart related problems. If atrial fibrillation disease remains untreated it will double the risk of patient’s death. Valvular heart disease and hypertension are the most common alterablerisk factor of atrial fibrillation disease. In 2014, according to centers for disease control and prevention, around 6 Mn people in the U.S were suffering from atrial fibrillation disease and the number was estimated to increase in near future. According to MRI Interventions, Inc. research report, around 2 to 4 Mn new patients are diagnosed with atrial fibrillation in the U.S annually and the incidence rate of atrial fibrillation disease will increase. Technological advancement in the field of surgical catheter ablation along with rising occurrence of disease due to changes lifestyle habits like drinking and smoking will drive the growth of global atrial fibrillation device market in forecast period.
Increase in the prevalence of obesity and hypertension among aging population, reduce mortality rate and favorable outcomes of the atrial fibrillation device are the factors expected to drive the growth of global atrial fibrillation device market. Moreover, atrial fibrillation device is an alternative to long term oral anticoagulants among non-valvular atrial fibrillation (NVAF) patients, eliminate the use of long term warfarin and reduce the risk of heart bleeding and strokes are some other factors expected to fuel the growth of global atrial fibrillation device market. However, alternative to atrial fibrillation device such as drug therapy, catheter related complications and high cost of minimally invasive ablation procedures are proving a major challenge for overall growth of atrial fibrillation device market.
Based on surgical type, global atrial fibrillation device market is sub segmented into catheter ablation and diagnostic device, of which catheter ablation segment is expected to grow fastest over the forecast period. Increasing patient awareness, improved healthcare infrastructure and rising demand for non-pharmacological treatments are some of the factors which are driving the growth of catheter ablation segment. Pharmacological drug segment is expected to have highest market share in the forecast period. Low prices of pharmacological drugs along with increasing use of anti-coagulant therapy is driving the demand of pharmacological drugs segment.
Depending on geographic region, atrial fibrillation device market is segmented into seven key regions: North America, Latin America, Eastern Europe, Western Europe, Asia Pacific, Japan, and Middle East & Africa. North America held largest share in the atrial fibrillation device market followed by Europe, Japan and Asia Pacific owing to high prevalence of atrial fibrillation, awareness among population, reimbursement policies,and healthcare infrastructure. The developing nations in Asia Pacific, Middle East and Africa hold huge potential for growth in the atrial fibrillation device market due to increase in geriatric population, improved healthcare expenditure along with increased per capita income. Also, growth in public and private hospitals, pharmacies & drug stores will drive the growth ofatrial fibrillation device market in this region.
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Some of the key players in global atrial fibrillation device market are Boston Scientific Corporation, Abbott, Biosense Webster, Inc., St. Jude Medical, Inc., Siemens Healthcare, Medtronic plc, Koninklijke Philips N.V. and AtriCure, Inc.