Atrial Fibrillation Market Update- Which Player Is Going to Acquire Bigger Piece of Industry?

Atrial Fibrillation Market Insights: Who Will Dominate the Industry?

Atrial fibrillation is probably one of the more common forms of cardiac arrhythmias, this is when irregular heart rhythms are caused by the atrial fibrillation or the ‘ibrillation’ of the atrial cells. Atrial fibrillation occurs when the ventricular pressure of the heart is too low or the heart is beating too fast for the ventricular muscles to handle. This causes the ventricular muscle to contract very quickly and leads to a heart rhythm that is very irregular and can even be seen on an electrocardiogram. Atrial Fibrillation or the ‘fibrillar fibrillations’ is usually caused by many different factors. Some say that it can be hereditary, but it is also something that can happen suddenly and without any warning. Atrial fibrillation is usually characterized by shortness of breath, palpitations, dizziness, nausea, chest pain, diarrhea, and sweating.

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Key Market Drivers:

The growing prevalence of atrial fibrillation is primarily fueling growth of the atrial fibrillation market. According to the Centers for Disease Control and Prevention (CDC), approximately 2 percent of people younger than 65 years old have AFib, while about 9 percent of people ages 65 and older have it.

The rise in the geriatric population is increasing prevalence of atrial fibrillation. This is another major factor augmenting growth of the market. According to the World Health Organization, by 2020, the number of people aged 60 years and older will outnumber children younger than 5 years. In 2050, 80% of older people will be living in low- and middle-income countries.

Covid-19 Impact Analysis

During the Covid-19 pandemic, there was high demand for atrial fibrillation as infected patients with cardiovascular disease are at high risk and vulnerable to multiple organ failures. Thus, the market of atrial fibrillation has witnessed strong growth during Covid -19 pandemic.

Key Takeaways:

1. The atrial fibrillation market is expected to exhibit a CAGR of XX % over the forecast period, owing to the increasing launch of AI-based diagnostic tests. For instance, in March 2021, the U.S. FDA has granted breakthrough device designation to Tempus Inc. for its ECG Analysis Platform. It was developed in collaboration with Geisinger, the artificial intelligence (AI)-powered platform helps clinicians identify patients at increased risk of developing atrial fibrillation (AF) or atrial flutter.

2. North America is expected to witness strong growth in the near future owing to the high prevalence of atrial fibrillation in the region. According to the Centers for Disease Control and Prevention, more than 454,000 hospitalizations with AFib as the primary diagnosis happen each year in the United States. The condition contributes to about 158,000 deaths each year.

Top Key Players Include In Atrial Fibrillation Market: Cardiofocus, Inc., Biosense Webster, Inc., Biotitic Se & Co. Kg, St. Jude Medical, Inc., Medtronic, Inc., Carima, Inc., Boston Scientific Corporation, Ncontact, Inc., and Agricore, Inc.

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