Atrial Fibrillation Market Size and Forecasts (2021 - 2031), Global and Regional Share, Trends, and Growth Opportunity Analysis

Coverage: Atrial Fibrillation Market covers analysis By Treatment Type (Non-pharmacological and Pharmacological) and End User (Hospitals, Ambulatory Surgical Centers, and Cardiac Catheterization Laboratories), and Geography (North America, Europe, Asia Pacific, and South and Central America)

Publication Month : Apr 2024

  • Report Code : TIPRE00003531
  • Category : Medical Device
  • Status : Upcoming
  • No. of Pages : 146
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The atrial fibrillation market is expected to grow from US$ 9,511.05 million in 2022 to US$ 20,925.79 million by 2028; it is expected to grow at a CAGR of 14.11% from 2022 to 2028.

The market's growth is attributed to the increasing prevalence of atrial fibrillation and rising awareness regarding atrial fibrillation. However, the high cost of atrial fibrillation devices and procedures is hampering the atrial fibrillation market growth.

Atrial fibrillation, AFib, or AF, is a medical condition that causes irregular heartbeats (arrhythmia) and can lead to blood clots, stroke, heart failure, and other heart-related complications. In this condition, the heart's upper chambers (known as atria) beat irregularly and thus cannot pump blood through its chambers. The medicines used to treat atrial fibrillation are blood thinners, heart rate, and heart rhythm medicines. If the medicines do not work, electrical cardioversion, cardiac ablation, and surgeries are preferred as the next treatment option.

Asia Pacific is the fastest-growing region in the global atrial fibrillation market. China, Japan, and India are among the key contributors to the market in this region. The driving factors in the region include increasing incidences of cardiovascular diseases, increasing geriatric population, growing awareness on better treatment procedures and advancement in technology are expected to equally influence the overall growth of market during the forecast period. Additionally, increasing availability of diagnostic and treatment services in countries such as India and large patient population contribute to the growth of the market.

Strategic Insights

Lucrative Regions for Atrial Fibrillation Market

Lucrative Regions for Atrial Fibrillation Market

Market Insights

Rising Awareness Regarding Atrial Fibrillation

Atrial fibrillation is among the most commonly occurring heart condition, which causes irregular and often abnormally fast heart rates, possibly leading to a stroke. A large number of populations across the globe are unaware of the symptoms associated with atrial fibrillation and hence remain untreated. For instance, according to the Centers for Diseases Control and Prevention estimates that by 2030, ~12.1 million people will have atrial fibrillation in the US. The data states that ~454,000 hospitalizations are observed yearly for atrial fibrillation in the US, leading to 158 000 deaths. It is said that millions of Americans are unaware of the atrial fibrillation condition. Therefore, Various associations worldwide have been involved in undertaking awareness regarding a medical conditions. For instance, Health Innovation Manchester in November 2018 raised awareness regarding Atrial Fibrillation and other innovative technologies to increase disease detection as part of Global AF Aware Week.

Other than bodies such as associations and organizations, companies in the market have also played an instrumental role in increasing awareness regarding atrial fibrillation. For instance, in February 2023, Bristol Myers Squibb and Pfizer, Inc. collaborated with Kareem Abdul-Jabbar, a basketball player, to raise awareness of atrial fibrillation and its symptoms through their campaign No Time to Wait Campaign. Similarly, in November 2020, Biosense Webster, a Division of Johnson & Johnson, launched two major initiatives for the Global AF Aware Week, which falls between 18–24 November. As a part of the Get Smart About AFIB (GSAAF) action, the company entered into a strategic partnership with the Arrhythmia Alliance to increase knowledge of AF across the healthcare community and the general public.

As awareness helps improve the medical care needed to treat atrial fibrillation, the market is expected to witness considerable growth during the forecast period.

Treatment Type-Based Insights

Based on treatment type, the atrial fibrillation market is segmented into non-pharmacological and pharmacological. The non-pharmacological segment held a larger market share in 2022 and is anticipated to register a higher CAGR during 2022–2028. The non-pharmacological segment is further divided into the surgical maze, catheter ablation, and electric cardioversion. In 2022, the MAZE surgery segment held the largest share of the market. However, the catheter ablation segment is estimated to register the highest CAGR in the market during the forecast period

Atrial Fibrillation Market, by Treatment Type – 2022 and 2028

Atrial Fibrillation Market, by Treatment Type – 2022 and 2028

End User-Based Insights

Based on end user, the atrial fibrillation market is segmented into hospitals, ambulatory surgical centers, and cardiac catheterization laboratories. The hospitals segment accounted for the largest market share in 2019, and it is estimated to register the highest CAGR during the forecast period.

Companies operating in the atrial fibrillation market are adopting the inorganic and organic strategies to meet the evolving customer demands across the world, which further permits them to maintain their brand name in the global market.

  • In August 2022, Medtronic completed acquisition of Affera, a Massachusetts-based healthcare technology company, dedicated to offer treatment of arrhythmias. Medtronic acquired Affera US$ 925 million and Medtronic had 3% of ownership in Affera well before this deal was announced.
  • In May 2019, Royal Philips signed a collaboration deal with Medtronic plc. This collaboration will likely advance the treatment of paroxysmal atrial fibrillation (PAF), a common heart rhythm disorder.
  • In January 2019, Medtronic plc. acquired EPIX Therapeutics, Inc. This acquisition is likely to expand the Medtronic cardiac ablation portfolio to offer physicians a comprehensive set of tools to treat patients with cardiac arrhythmias.
  • In August 2019, AtriCure, Inc. acquired SentreHEART, Inc. With this, the company will likely increase its product portfolio in the atrial ablation field.

Atrial Fibrillation Market: Competitive Landscape and Key Developments

Some key companies operating in the atrial fibrillation market include Boston Scientific Corporation; Medtronic; AtriCure, Inc; Johnson & Johnson (Biosense Webster, Inc.); BOEHRINGER INGELHEIM GMBH; CardioFocus; Abbott; Sanofi; Biotronik, Inc.; and Bristol-Myers Squibb Company. These players focus on expanding and diversifying their market presence and acquiring a novel customer base, thereby tapping prevailing business opportunities.


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REGIONAL FRAMEWORK
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Report Coverage
Report Coverage

Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends

Segment Covered
Segment Covered

Treatment Type, and End User

Regional Scope
Regional Scope

North America, Europe, Asia Pacific, Middle East & Africa, South & Central America

Country Scope
Country Scope

Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Saudi Arabia, South Africa, South Korea, Spain, United Arab Emirates, United Kingdom, United States

Frequently Asked Questions


What is the average cost of atrial fibrillation devices and procedures?

The cost of the catheter ablation procedures and devices are higher in the North American region and developed nations. Atrial fibrillation (AF) ablation uses high cost technology and equipment. The average cost of catheter ablation ranges approximately from US $16,278 to US $21,294. However, it may differ in different regions.

What are the driving factors for the atrial fibrillation market across the globe?

Driving factors such as increasing prevalence of atrial fibrillation and rising awareness regarding atrial fibrillation are expected to boost the market growth over the years. Moreover, development opportunities in emerging countries is likely to have a positive impact on the growth of the market in the coming years.

What is atrial fibrillation?

Atrial fibrillation also referred to as AFib or AF is a medical condition that causes irregular heartbeat (arrhythmia) and which can further lead to blood clots, stroke, heart failure and other heart-related complications. In this condition, the upper chambers of the heart (known as atria) beat irregularly and thus cannot pump blood through its chambers.

The List of Companies - Atrial Fibrillation Market

  1. Boston Scientific Corporation
  2. Medtronic
  3. AtriCure, Inc
  4. Biosense Webster, Inc.
  5. BOEHRINGER INGELHEIM GMBH
  6. CardioFocus
  7. Abbott
  8. Sanofi
  9. Biotronik Inc.
  10. Bristol-Myers Squibb Company

The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.

  1. Data Collection and Secondary Research:

As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.

Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.

  1. Primary Research:

The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.

For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.

A typical research interview fulfils the following functions:

  • Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
  • Validates and strengthens in-house secondary research findings
  • Develops the analysis team’s expertise and market understanding

Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:

  • Industry participants: VPs, business development managers, market intelligence managers and national sales managers
  • Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.

Below is the breakup of our primary respondents by company, designation, and region:

Research Methodology

Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.

  1. Data Analysis:

Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.

  • 3.1 Macro-Economic Factor Analysis:

We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.

  • 3.2 Country Level Data:

Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.

  • 3.3 Company Profile:

The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.

  • 3.4 Developing Base Number:

Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.

  1. Data Triangulation and Final Review:

The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.

We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.

We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.

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