Atrial Fibrillation Devices Market 2020 Top Players - AtriCure, Inc., Abbott Laboratories (St. Jude Medical), BIOTRONIK, Boston Scientific Corporation, CardioFocus, Inc., Hansen Medical, Johnson and Johnson (Biosense Webster), Medtronic plc, Siemens Healt
Rise in adoption rate of enhanced technologies coupled with availability of sophisticated healthcare infrastructure will boost atrial fibrillation devices industry growth across the globe. Presence of reimbursement scenario in developed regions will further propel industry expansion. Moreover, rising prevalence of cardiovascular diseases owing to sudden transition of lifestyle and growing trends of tobacco intake in millennials will prove to be high market impact rendering factor. Continuous growth in geriatric population is another reason responsible for upward trajectory of atrial fibrillation market growth.
Currently, high cost associated with the application of atrial fibrillation devices will act as a market restraining factor. Additionally, poor health care access in some parts of under developed regions and lack of awareness about latest technological advents are few major hindrances for the market growth.
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EP ablation catheters market is forecasted to witness a lucrative CAGR of 14.4% over the forecast period. Ablation catheters are most extensively used across the globe owing to increasing preference for minimally invasive surgeries. Furthermore, adoption rate of catheter ablation system is high due to increasing success rate of paroxysmal, persistent and permanent conditions of atrial fibrillation procedures. Venture capital investment in research and development of such devices is another market augmenting factor.
Hospitals as an end-use held significant market share and was valued at around USD 2,483.4 million in the year 2018. The hospital end-use segment is dominating the atrial fibrillation devices market owing to increasing number of multi-specialty hospitals and people's preference for hospitals over other healthcare facilities. Moreover, procedures related to atrial fibrillation are mostly performed in hospital settings. Hence, the demand for atrial fibrillation devices are highest in hospitals as compared to other healthcare facilities. Increasing number of hospitals admissions for atrial fibrillation in developed countries will strongly drive the segment growth in the coming years.
U.S atrial fibrillation devices market will witness a growth at 13.9% during the forecast period. Availability of cutting-edge technologies and rising healthcare expenditure in the U.S. will enable efficient growth of atrial fibrillation devices market. With growing popularity of these systems, more and more installations are anticipated to take place during the projection years.
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China atrial fibrillation devices market was valued at around USD 324.7 million in the year 2018. The region provides lucrative growth opportunity owing to rising prevalence of cardiovascular diseases in the country. Growing healthcare expenditure of China and citizen's financial position will propel industry growth over the forecast period.
Industry players having a strong foothold in the global market include Abbott Laboratories, Johnson & Johnson, Atricure Inc., Microport Scientific Corporation and Boston Scientific Corporation. Other notable participants include St. Jude medical, Inc., Medtronic Plc, Koninklijke Philips N.V., Siemens AG. Etc. Several well-known firms are entering in sparsely addressed high potential geographies in order to expand their market presence. Innovative product launch in developing economies by these companies permits them to cater to unmet needs of the patient population and hence, expand revenue bases.
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