Atrial Fibrillation Market Report Provide Market Strategies Focuses on Industry Situation Along With Future Scenario to Drive the Market Growth in Forecast Period
Increased prevalence of atrial fibrillation in the elderly population, technological advances in devices, improved medical infrastructure in developing countries, minimally invasive procedures and improved patient awareness promote market growth. However, it lacks skilled specialists and poor drug preference, which hampers market growth.
Catheter removal is the highest revenue contribution and is expected to grow at a CAGR of 13.8% over the analysis period. This growth is due to technological advances such as cryoFORM. cryoFORM offers flexibility for easy manipulation and treatment during the surgical procedure. In addition, catheter ablation for cardiac arrhythmia is preferred over other devices because it is a safer, minimally invasive surgical procedure used for the treatment of atrial fibrillation.
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North America is a major player in the global atrial fibrillation device market in 2015 and is expected to remain at the forefront throughout the forecast period. This is due to increased prevalence of atrial fibrillation in the elderly population and increased adoption of advanced technology for AF therapy.
Key players have adopted product development as their key strategy to cater to the changing needs of the industry.
Major players that operate in this market include
• Abbott Laboratories
• Johnson & Johnson
• MicroPort Scientific Corporation
• Boston Scientific Corporation
• St. Jude Medical Inc.
• Medtronic plc
• Biotronik SE & Co. KG
• Koninklijke Philips N.V.
• Siemens AG
• AtriCure Inc.
Asia-Pacific is expected to be the fastest growing region with a CAGR of 14.7% during the forecast period. Japan accounted for the highest share of the total Asia-Pacific market in 2015; while China is poised to grow at highest CAGR during the analysis period (20162022). This growth in this region is attributed to the rise in the prevalence of cardiac arrhythmia in developing countries (such as India and China) owing to the large geriatric population.
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Key findings of the Atrial Fibrillation Market
• North America dominated the market of atrial fibrillation and is expected to maintain its lead throughout the forecast period, with a CAGR of 12.1%
• By country, U.S. generates the highest revenue in 2015
• Asia-Pacific is the fastest growing market and is estimated to grow at a CAGR of 14.7%
• Japan accounted for more than one-third share of the Asia-Pacific atrial fibrillation devices market in 2015
• The non-surgical equipment segment dominated in 2015, occupying largest revenue share and is anticipated to grow at a CAGR of 12.5%
• Catheter ablation (sub segment for surgical equipment) accounted for largest market share in 2015 and is anticipated to grow at a CAGR of 13.8%
• Cryoablation, a sub type of catheter ablation, is projecting the highest CAGR of 14.6% during the study period
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Allied Market Research, a market research and advisory company of Allied Analytics LLP, provides business insights and market research reports to large as well as small & medium enterprises. The company assists its clients to strategize business policies and achieve sustainable growth in their respective market domain.
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