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Atrial Fibrillation Market 2024: Trends, Share Analysis, and Size Forecast Report
Atrial Fibrillation Global Market Report 2024
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According to The Business Research Company's, The atrial fibrillation market size has grown rapidly in recent years. It will grow from $12.02 billion in 2023 to $13.47 billion in 2024 at a compound annual growth rate (CAGR) of 12.1%. The growth in the historic period can be attributed to increasing awareness and screening programs, technological innovations in treatment, increasing healthcare expenditure, clinical research and drug development, genetic predisposition.
The atrial fibrillation market size is expected to see rapid growth in the next few years. It will grow to $21.66 billion in 2028 at a compound annual growth rate (CAGR) of 12.6%. The growth in the forecast period can be attributed to focus on stroke prevention, patient and physician education programs, global initiatives for cardiovascular health, increasing electrophysiology procedures, customization of treatment plans, government initiatives for cardiovascular disease prevention. Major trends in the forecast period include advancements in diagnostic technologies, rise in the incidence of atrial fibrillation, advancements in catheter ablation techniques, emergence of novel oral anticoagulants (noacs), integration of wearable technologies for monitoring, expanding role of telemedicine in af management, advancements in implantable devices.
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Market Drivers and Trends:
The increase in the cardiovascular diseases is expected to drive the atrial fibrillation market forward. Cardiovascular diseases refer to a class of disorders affecting the heart and blood vessels, encompassing conditions such as coronary artery disease, heart failure, and arrhythmias, posing a significant risk to overall cardiovascular health. The surge in cardiovascular conditions underscores the growing demand for advanced diagnostic and treatment solutions, driving the atrial fibrillation market forward as healthcare systems and industries respond to the escalating challenges posed by the increasing incidence of these diseases. For instance, in January 2022, according to an article published by the American Heart Association, a US-based nonprofit organization focused on cardiovascular medical research, approximately 19.1 million deaths were attributed to cardiovascular disease globally in 2022. Furthermore, in May 2023, according to the Centers for Disease Control and Prevention, a US-based national public health agency, the number of people who died from heart disease in the US increased from 659,041 in 2019 to 695,000 in 2021. Therefore, the high burden of cardiovascular diseases worldwide will drive the atrial fibrillation market.
Major companies in the atrial fibrillation market are launching innovative products and solutions such as patient-centric clinical decision support tools to strengthen their position in the market. Clinical decision support tools (CDST) are software or electronic systems designed to assist healthcare professionals in making informed and timely decisions about patient care. These tools are developed to integrate relevant clinical information from various sources. For instance, in August 2023, GE HealthCare, a US-based multinational medical technology company launched the CardioVisio, a patient-centered clinical decision support tool to help doctors drive evidence-based clinical decision support guided by current atrial fibrillation guidelines and visualize longitudinal data from various data sources relevant for illness progression. CardioVisio for atrial fibrillation, can assist cardiologists with in streamlining clinician image interpretation and to provide a view of the history of the patient's heart as well as their healthcare journey, including previous diagnoses, prescribed medications, interventions, and comorbidities.
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• Comprehensive Market Insights: Stakeholders gain access to detailed market statistics, trends, and analyses that help them understand the current and future landscape of their industry.
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• Global Perspective: The reports cover various regions and markets, providing a broad view that helps stakeholders expand and operate successfully on a global scale.
Major Key Players of the Market:
AtriCure Inc., Johnson & Johnson Private Limited, Abbott Laboratories, C.H. Boehringer Sohn AG & Co. KG, Biotronik Se & Co. Kg, Boston Scientific Corporation, Bristol-Myers Squibb Company, CardioFocus Inc., Sanofi S.A, Medtronic plc, Biosense Webster Inc., MicroPort Scientific Corporation, Siemens AG, Acutus Medical Inc., AEGEA Medical Inc., Apama Medical Inc., Aria CV Inc., Armetheon Inc., BioSig Technologies Inc., Cardialen Inc., CardioRobotics Inc., CardioInsight Technologies Inc., Circa Scientific LLC, CorWave SA, EpiEP Inc., Farapulse Inc., Fibralign Corporation, Impulse Dynamics NV, JenaValve Technology Inc., Kardium Inc.
Atrial Fibrillation Market 2024 Key Insights:
• The atrial fibrillation market size is expected to see rapid growth in the next few years. It will grow to $21.66 billion in 2028 at a compound annual growth rate (CAGR) of 12.6%.
• Rise In Geriatric Population Drives The Atrial Fibrillation Market
• Innovative Products Revolutionize Atrial Fibrillation Patient Care
• North America was the largest region in the atrial fibrillation market in 2023
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