SAN JOSE, Calif., June 04, 2018 (GLOBE NEWSWIRE) -- The latest market report published by Credence Research, Inc. “Atrial Fibrillation Devices Market Growth, Future Prospects, and Competitive Analysis, 2018 - 2026” the atrial fibrillation devices market was valued at US$ 4,884.9 Mn in 2017, and expected to reach US$ 17,867.3 Mn by 2026 at a CAGR of 15.6% during the forecast period from 2018 to 2026.
Market Insights
The global atrial fibrillation devices market exhibits remunerative growth during the forecast period from 2018 to 2026 due to technological advances in atrial fibrillation devices and significant rise in prevalence of hypertension & atrial fibrillation across the world. Technological advances in atrial fibrillation devices including fluoroscopy integrated 3D mapping technology in ablation, which decreases radiation exposure and provide real-time 3D electromagnetic navigation. Innovative techniques such as convergent procedure, focal impulse and rotor modulation (FIRM) ablation, and WATCHMAN left atrial appendage closure (LAAC) procedure are gaining popularity among patients around the world. Additionally, radiofrequency (RF) catheter ablation, microwave-based catheter ablation, cryoablation, and laser-based catheter ablation procedures are developed and expected to exhibit profitable market growth in near future. Radiofrequency catheter ablation utilizes radiofrequency current for the production of heat to destroy the heart tissues responsible for rapid or irregular heart rhythm. Cryoblation freezes heart tissue or pathways that interfere with the normal distribution of the electrical impulses of the heart and restores normal electrical conduction. Laser-based catheter ablation procedure uses a balloon catheter that enables cardiologist a direct endoscopic view of the pulmonary veins’ convergence; hence, reduces the need for X-rays.
As per the data published by the AtriCure, Inc., worldwide more than 33.0 million people are suffering from Atrial fibrillation (Afib). U.S. has 6.0 million Afib patients who incurred a total cost of US$ 26.0 billion for the disease in 2017. U.S. holds more than US$ 1.5 billion market for atrial fibrillation devices. An article published in the Journal of the American Society of Hypertension stated the worldwide prevalence of hypertension was 1.39 billion in 2010, which is anticipated to reach to 1.56 billion by 2025.
Key Market Movements:
- Globally, the atrial fibrillation devices market continues to witness a lucrative growth at a CAGR of 15.6% for the period from 2018 to 2026
- Based on the product type, the electrophysiology (EP) ablation catheters segment spearheaded the market in 2017 due to increasing adoption of advanced procedures such as radiofrequency catheter ablation, microwave-based catheter ablation, cryoablation, and laser-based catheter ablation. This procedure is majorly used when patients are tolerant to anti-coagulation drugs.
- The cardiac monitors segment is expected to witness fastest market growth owing to the emergence of implantable cardiac monitors (ICMs) and worldwide adoption of other cardiac monitors such as holter monitor, event recorder, mobile cardiac telemetry (MCT) to monitor heart rhythms
- Global surge in the number of hospitals and comparatively higher adoption of atrial fibrillation devices during AF procedures in hospitals are putting the hospitals segment at the dominant position
- Higher presence of Afib patient population and rising adoption of advanced technologies in the U.S. and Canada, North America is likely to contribute maximum to the overall growth of atrial fibrillation devices market
- Asia Pacific is expected to exhibit lucrative CAGR over the forecast period due to growing awareness about Afib procedures, surging geriatric population, and increasing healthcare expenditure in India, China, and Japan
- Major players in this vertical are Medtronic; Boston Scientific Corporation; AtriCure, Inc.; Abbott Laboratories; Hansen Medical; Stereotaxis, Inc.; Biosense Webster, Inc.; Siemens Healthineers; BIOTRONIK SE & Co. KG; and CardioFocus, Inc.
Browse Full Report With TOC, Figures And Tables @ http://www.credenceresearch.com/report/atrial-fibrillation-devices-market
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