Atrial Fibrillation Market – Large Number of Geriatric Population is a Crucial Factor that has Surged Growth of the Market
Global Atrial Fibrillation Market: Overview
Atrial fibrillation is an irregular heartbeat identified by the rapid and abnormal beating of the heart. The global market for atrial fibrillation is majorly driven by the rise in high blood pressure and valvular heart disease. Meanwhile, increasing prevalence of atrial fibrillation among the geriatric population is also fueling the growth of the market. Significant technological advancement is leading to the development of new monitoring technologies that can help patients as well as clinicians to keep a close watch and treat it on time. Smart, wireless, easy-to-use, cost-effective, and efficient monitoring systems are also being focused on to monitor the heartbeat. These developments present a major opportunity for key players operating in atrial fibrillation space.
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Innovative technologies with the ability to target the causes of atrial fibrillation have led to the maximum success rate of treating the condition. The key market players are also entering into a partnership with research institutes and other companies to develop an efficient system to detect and treat atrial fibrillation.
Global Atrial Fibrillation Market to Witness Robust Growth during the Forecast Period 2017-2026
According to a study by Transparency Market Research (TMR), the global atrial fibrillation market is expected to witness strong growth. The market is estimated to register 11.0% CAGR during the forecast period 2017-2026. The market is also estimated to reach US$ 10,925.1 million revenue by the end of 2026.
On the basis of product type, the EP ablation catheters are expected to emerge as the most preferred product in the global atrial fibrillation market. On the basis of end-user, the market is segmented into electrophysiology labs, hospitals, and ambulatory surgical center. Among these, hospitals are expected to be witness impressive growth during the forecast period 2017-2026. By application, EP ablation is expected to witness the highest growth in the global atrial fibrillation market during the forecast period 2017-2026.
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Geographically, the market is segmented on the basis of North America, Latin America, Europe, Japan, APEJ, and MEA. Europe is expected to dominate the global atrial fibrillation market during the forecast period 2017-2026. A maximum number of catheter ablation are performed in Germany.
Rise in the Use of Less Invasive and Advanced Treatment for Atrial Fibrillation
Major hospitals and medical centers are using a less invasive procedure known as catheter ablation for treating atrial fibrillation. It also has facilitated quick recovery than the surgery. Meanwhile, the on-going research is also resulting in more options that can be used by doctors to perform catheter ablation. A recent study by the researchers at the Klinikum Coburg and the University of Utah Health also showed that radiofrequency catheter ablation lowered mortality rates in patients suffering from atrial fibrillation. Being a highly effective therapy, various additional features are being added to catheter ablation. For instance, new 3D mapping technology reduces fluoroscopy time and radiation dose for patients. Moreover, a new 3D catheter mapping technology allowing real-time device tracking in prerecorded fluoroscopy was also being used. However, new treatment options including FIRM ablation, convergent procedure, and watchman device have also been developed and were successful in minimizing the chances of atrial fibrillation. Increasing demand for minimally invasive procedures and better imaging is resulting in the manufacturers investing in research and development for introducing technologically advanced catheter ablation procedure. Meanwhile, increasing number of hospitals are also using a combination of both device and drugs to treat atrial fibrillation.
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