ALBANY, New York, December 13, 2018 /PRNewswire/ --
A report from TMR estimates, the global atrial fibrillation marketis expected to attain a valuation of US$ 10,925.1 million by the end of 2026. The market is expected to expand with a CAGR of about 11.0% over the forecast period from 2017 to 2026.
Based on the product type, the EP ablation catheters segment dominated the global atrial fibrillation market and is expected to account for the revenue of US$ 2,700 million by the end of 2026. Based on the end user, the hospital's segment dominated the global atrial fibrillation market and is expected to continue its domination by gaining revenue of US$ 4,400 million by the end of the forecast period. Based on application, the EP ablation segment is dominating the market and is expected to collect the highest revenue of about US$5,000 mn by the end of the forecast period.
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Based on region, Europe dominated the market in the year 2017 and is expected to remain dominant over the forecast period. This growth is attributable to the growing catheter ablation procedures especially in Germany is supporting the growth of the atrial fibrillation market.
Rising Prevalence of Numerous Diseases to Propel Growth of Market
The rising prevalence of common diseases and chronic conditions such as obesity, hypertension, and diabetes is leading to increasing heart problems. The rising number of people suffering from heart diseases and high blood pressure are some of the common risks and surging need for the novel treatment. The growing need for novel treatment technique is encouraging numerous initiatives for improving the treatment. Growing advancements in diagnosis and treatment and its efficiency in treatment is boosting its adoption. The aforementioned factors are propelling the growth of the global atrial fibrillation market.
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Additionally, elder people are more susceptible to the chronic condition and growing geriatric population globally is fuelling the growth of the global atrial fibrillation market. In addition, the growing advancements in the treatment and detection by using the atrial fibrillation are fuelling the growth of the global atrial fibrillation market. Moreover, a growing number of specialists and hospitals preferring for the atrial fibrillation and is likely to propelling growth of the global atrial fibrillation market.
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Growing Advancements in Atrial Fibrillation to Offer Opportunities
Despite the growth prospects, lack of trained physicians coupled with high costs related with treatments is retaining growth of the atrial fibrillation market. Nonetheless, growing availability of alternative technologies coupled with growing adoption of minimally invasive surgeries is expected to offer opportunities for growth of the global atrial fibrillation market. Additionally, advancements in imaging are resulting in high investment in the research and development is offering lucrative opportunities for growth of the market over the forecast period.
The global atrial fibrillation market has a highly competitive vendor landscape, observes Transparency Market Research (TMR). Some of the key players operating in the global atrial fibrillation market are Medtronic Plc, MicroPort Scientific Corporation, Abbott Laboratories, Biosense Webster, Inc., and Biotronik SE & Co. KG. In order to stand alone in the cutthroat competition, the players in the atrial fibrillation market are trying for business expansion.
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This information is encompassed in the new report by TMR, titled "Atrial Fibrillation Market (Product Type - EP Ablation Catheters, EP Diagnostic Catheters, EP Mapping & Recording Systems, Cardiac Monitors, Access Devices, LAA Closure, Other Products; End User - Hospitals, Electrophysiology Labs, Ambulatory Surgical Center; Application - Diagnostic, EP Ablation, Surgical) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 - 2026."
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