Atrial Fibrillation Device Market Size growing at a CAGR of 14.3% to Reach USD 3.29 billion by 2034: Fact.MR Report
Production Innovation Critical to Long Term Growth in Atrial Fibrillation Device Business
Rockville , Dec. 08, 2023 (GLOBE NEWSWIRE) — The global atrial fibrillation device market is estimated at a value of US$ 6.52 billion in 2024 and is projected to expand at an impressive 14.3% CAGR over the next ten years (2024 to 2034). Increasing levels of stress in people’s lives and a growing number of individuals developing cardiovascular disorders are key contributors to the high demand for atrial fibrillation devices around the world.
Surging prevalence of diabetes and rising awareness regarding the symptoms and treatment of atrial fibrillation and cardiac arrhythmia are also projected to create a new growth scope for atrial fibrillation device companies in the future. North America is projected to hold a dominant stance in terms of atrial fibrillation device sales revenue in the world from 2024 to 2034 owing to the rising availability of novel atrial fibrillation equipment in this region.
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Atrial fibrillation device companies are focusing on launching new initiatives to manage atrial fibrillation and reduce the mortality rate for people affected with atrial fibrillation.
- In July 2023, HealthspanMD, a leading provider of cardiac care based in the United States, announced the launch of a new remote program to help people treat and manage atrial fibrillation. The new program is covered by most healthcare insurance providers in the country.
Find more detailed insights and new developments related to the atrial fibrillation device market from this study by Fact.MR, a market research and competitive intelligence provider.
| Report Attribute | Details |
| Value Projection (2034) | US$ 24.76 Billion |
| Growth Rate (2024-2034) | 14.3% CAGR |
| No. of pages | 170 Pages |
| No. of Tables | 84 Tables |
| No. of Figures | 112 Figures |
Key Takeaways from Market Study
- The global atrial fibrillation device market is forecasted to be valued at US$ 6.52 billion in 2024.
- Sales of atrial fibrillation devices are set to rise at a stellar CAGR of 14.3% from 2024 to 2034.
- The market is forecasted to reach a valuation of US$ 24.76 billion by 2034-end.
- Growing adoption of hectic lifestyles, rising incidence of diabetes and hypertension, expanding geriatric population, and advancements in atrial fibrillation treatment technology are key market drivers.
- Lack of skilled medical professionals to operate advanced atrial fibrillation equipment and high costs of devices are estimated to impede market growth in the future.
- Sales of atrial fibrillation devices in North America are projected to account for a market valuation of US$ 9.38 billion by the end of the study period.
- Atrial fibrillation device demand in China is estimated to rise at an astronomical CAGR of 15.9% over the next ten years.
- Sales of atrial fibrillation therapeutics are projected to account for 55.7% of the global atrial fibrillation device market revenue by the end of 2034.
- Hospitals are predicted to account for a market value of US$ 5.35 billion in 2024.
“Integration of artificial intelligence and other digital technologies with new atrial fibrillation devices is set to be a prominent trend that new as well as established companies will look to follow over the coming years,” says a Fact.MR analyst
Top fortune Companies Profiled in This Report
- Medtronic Plc
- Japan Lifeline Co.
- Biomerics
- Abbott Laboratories
- Biosense Webster Inc. (Johnson & Johnson)
- ArtiCure Inc.
- Biotronik Inc.
- Boston Scientific Corporation
- MicropORT Scientific Corporation
Winning Strategy
Atrial fibrillation device suppliers are investing heavily in the R&D of novel approaches to treat atrial fibrillation. Atrial fibrillation device companies should focus on the incorporation of advanced technologies to improve patient outcomes as the penetration of technologies in different healthcare applications increases.
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Country-wise Insights:
What Makes the United States a Key Market for Atrial Fibrillation Devices?
“Increasing Availability of Novel Atrial Fibrillation Systems”
The United States is expected to be a very favorable location for atrial fibrillation device providers due to the rising adoption of cutting-edge healthcare technologies and significant investments in R&D of innovative atrial fibrillation treatment devices. A growing number of new medical devices receiving regulatory approvals and the regular release of cutting-edge atrial fibrillation equipment are anticipated to propel the growth of the atrial fibrillation device market in the nation in the future.
- In July 2023, Biosense Webster, a leading name in the treatment and diagnosis of heart rhythm disorders, announced the launch of a new catheter to map complex cardiac arrhythmias in the United States. Optrell Mapping Catheter with TrueRef Technology was cleared by the United States FDA back in 2022.
- In May 2023, Bayer, a global leader in the healthcare business, announced that it had received a fast track clearance for its asundexian Atrial fibrillation program from the United States FDA. The drug is probably projected to be used in the treatment of atrial fibrillation stroke and systemic embolism as well.
More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the global atrial fibrillation device market, presenting historical demand data (2018 to 2023) and forecast statistics for the period (2024 to 2034).
The study divulges essential insights on the market based on product type (electrophysiology diagnostics, therapeutics), technology (radiofrequency, cryotherapy, ultrasound, others), and end user (hospitals, ambulatory surgical centers, cardiac catheterization labs), across six major regions of the world (North America, Europe, Latin America, East Asia, South Asia & Oceania, and the Middle East & Africa).
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About Fact.MR:
Fact.MR is a distinguished market research company renowned for its comprehensive market reports and invaluable business insights. As a prominent player in business intelligence, we deliver deep analysis, uncovering market trends, growth paths, and competitive landscapes. Renowned for its commitment to accuracy and reliability, we empower businesses with crucial data and strategic recommendations, facilitating informed decision-making and enhancing market positioning. With its unwavering dedication to providing reliable market intelligence, FACT.MR continues to assist companies in navigating dynamic market challenges with confidence and achieving long-term success. With a global presence and a team of experienced analysts, FACT.MR ensures its clients receive actionable insights to capitalize on emerging opportunities and stay ahead in the competitive landscape.
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