Global Atrial Fibrillation Market is Expected to Witness High Growth due to Rising Geriatric Population and Increasing Obesity Levels
The Global Atrial Fibrillation Market is estimated to be valued at USD 24.61 Bn in 2024, exhibiting a CAGR of 7.2% over the forecast period (2024-2031). Furthermore, rising prevalence of cardiovascular diseases and technological advancements in treatment procedures are also fueling market growth.
Market Dynamics:
The growth of the global atrial fibrillation market is driven by the rising geriatric population worldwide and increasing obesity levels. According to Frontiers Data, in May 2021, over 35% of people aged above 65 years suffer from atrial fibrillation due to aging-related decline in the physiological structure and function of the heart. Similarly, obesity is a major risk factor for atrial fibrillation as excess body fat leads to inflammation and irregular heart rhythms. Moreover, obese patients are more susceptible to heart failure, hypertension, and other heart conditions which further raises the risk of atrial fibrillation. This growing target patient pool has encouraged players in the market to invest heavily in the development of innovative treatment solutions like drug-eluting devices, vascular closure devices, and cryoablation devices. The advent of innovative ablation catheters and technologies for catheter ablation procedures has also simplified the treatment process, augmenting the growth of this industry.
Increasing Geriatric Population is Driving the Demand for Atrial Fibrillation Treatment
One of the key drivers for the growth of the global atrial fibrillation market is the rising geriatric population worldwide. According to World Heart Federation, in May 2021, atrial fibrillation is more prevalent among older adults, with nearly 9% of people above 65 years of age having the condition. The global population aged 60 years or over is projected to double from current levels and reach around 2.1 billion by 2050. As the proportion of elderly people increases, so does the risk of atrial fibrillation due to age-related degeneration of the heart. This growing pool of at-risk patients is expected to significantly drive the demand for diagnosis, treatment, and management of atrial fibrillation in the coming years.
Growing Prevalence of Chronic Heart Conditions is Fueling the Need for Atrial Fibrillation Treatment
The rising incidence of chronic heart conditions such as heart failure, hypertension, diabetes, and obesity is another key growth driver for the atrial fibrillation market. These comorbidities increase the chances of developing atrial fibrillation. For instance, heart failure patients have over 4 times higher risk of atrial fibrillation. Growing prevalence of such associated conditions worldwide is fueling the need for effective atrial fibrillation treatment options. In September 2022, according to National Library of Medicine estimates, over 1.5 million new atrial fibrillation cases are diagnosed each year in the U.S. alone due to increasing prevalence of accompanying heart diseases.
Lack of Awareness about Atrial Fibrillation Symptoms can Hamper Early Detection
One of the major restraints for the atrial fibrillation market is the lack of awareness among people about the symptoms of this condition. Atrial fibrillation symptoms can sometimes be intermittent and mild, and people often neglect to consult a doctor thinking it is nothing serious. This leads to delayed diagnosis and increases the risk of complications. Educational campaigns are needed to spread knowledge regarding common atrial fibrillation symptoms like palpitations, fluttering sensations, fatigue etc. so that people recognize the signs early and seek timely medical advice.
High Cost of Treatment Alternatives act as a Bottleneck
The high cost of advanced treatment devices and medications for atrial fibrillation management poses a notable challenge to widespread adoption and growth of the market. For example, cardiac ablation procedures for rhythm control require expensive electrophysiology lab setup and consumables. Similarly, novel oral anticoagulants have a higher per patient cost compared to warfarin. This price burden limits their accessibility in developing nations and for people lacking health insurance. Governments and medical device companies need to find ways to make life-saving therapies more affordable.
Growing Awareness Programs are Opening New Opportunities
Healthcare organizations and pharmaceutical players have recognized the potential for market expansion that lies in spreading mass awareness about atrial fibrillation. Several awareness initiatives are being undertaken through websites, social media, healthcare conferences, and community outreach programs to educate people on atrial fibrillation risks, symptoms, diagnosis and management options. This is generating greater recognition and demand for professional care. It opens new opportunities for industry players to penetrate untapped regional markets and expand their consumer base.
Technological Advancements are Driving Innovation
Constant innovation in medical device technologies presents significant growth opportunities in the atrial fibrillation market. Areas such as less invasive ablation procedures, remote monitoring solutions, implantable devices, and digital health tools hold promise for revolutionizing care. For instance, technologies like remote patient monitoring via smartphone apps allow continuous oversight of device functions and symptoms at low costs. Similarly, novel ablation catheters and 3D cardiac mapping systems are reducing complication risks and procedure times. Continuous R&D in this sphere can help drive market expansion by enhancing treatment efficacy and patient outcomes.
Link - https://www.coherentmarketinsights.com/market-insight/atrial-fibrillation-market-205
Key Developments:
- In November 2024, Johnson & Johnson MedTech received the USFDA approval for the VARIPULSE Pulsed Field Ablation (PFA) Platform for treating drug-refractory paroxysmal Atrial Fibrillation (AFib). The VARIPULSE Platform is the first in the U.S. to integrate fully with the CARTO 3 Electro-anatomical Mapping System, enhancing efficiency, reproducibility, and accuracy in cardiac procedures.
- In November 2023, Bayer initiated the OCEANIC-AFINA Phase III study to evaluate asundexian (BAY2433334) as a treatment for atrial fibrillation (AF) patients aged ≥65 at high risk for stroke or embolism who cannot take oral anticoagulants due to bleeding risks. This complements the ongoing OCEANIC-AF study, aiming to provide comprehensive evidence of asundexian's efficacy and safety in stroke prevention across diverse AF patient groups.
- In November 2021, Medtronic India, a MedTech company, took a significant step in advancing atrial fibrillation treatment with the launch of its Arctic Front Cardiac Cryoablation Catheter System. This innovative product is designed specifically for pulmonary vein isolation, effectively blocking unwanted electrical signals and providing a reliable solution for managing atrial fibrillation.
Key Players:
Pfizer Inc., Boehringer Ingelheim GmbH, Bristol-Myers Squibb Company, Johnson & Johnson, Abbott Laboratories, Boston Scientific Corporation, Medtronic plc, AtriCure, Inc., Sanofi, Bayer AG, Gilead Sciences, Inc., Amgen Inc., Merck & Co., Inc., St. Jude Medical, Inc., and Cardiovascular Systems, Inc.
