Growing healthcare expenditure and rapid technological development have fueled the atrial fibrillation devices market over the last few years, along with rising awareness about symptoms and causes of heart disorders. The demand for medical devices has augmented due to the increasing occurrence of diseases resulting from unhealthy eating habits and lack of physical activities. Heart conditions are one of the major outcomes of this hectic lifestyle that has raised the risk of developing atrial fibrillation (AFib). Accelerated efforts by medical institutes as well as private corporations to provide solutions which help people address concerns related to the heart will significantly boost the atrial fibrillation devices industry expansion.
A key factor influencing the occurrence of AFib is age, with the risk of developing the disorder rising as a person grows older. Subsequently, an increase in the geriatric population will warrant a fast-paced growth for the global atrial fibrillation devices market, since advanced treatments have ensured that people are able to survive various diseases and live longer. The World Health Organization has reported that by the year 2050, the number of people aged 60 years or more will reach around 2 billion, suggesting a potentially massive need for critical treatments and health management services. This will create substantial demand for the atrial fibrillation devices industry, as heart failure and stroke are leading causes of fatalities in older people.
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In terms of the regional landscape, North America is a prominent revenue contributor to the healthcare industry and is home to many companies involved in research and development of vital medical devices. Apparently, U.S. was estimated to be the biggest customer base for the atrial fibrillation devices market in 2018 and is counted amongst the most technologically advanced countries in the world. Coronary disorders have become increasingly common in the U.S. owing to varied food consumption patterns and drinking habits. It must be noted that in many cases, people without any heart disease or other diseases can also develop AFib, but the condition is often associated with having coronary artery disease, heart attacks, high blood pressure, lung diseases, prior heart surgeries, congenital disorders and many other possible causes.
Speaking further on the prospects for the U.S. atrial fibrillation devices market, reports show that nearly 735,000 people in America have a heart attack every year, while around 47% people exhibit at least one of the three risk factors for heart arrhythmias, namely smoking, high cholesterol and high blood pressure. Another likely factor that causes AFib – lung diseases, is also on the rise with more than 3.2 million in the state of California alone estimated to have adult chronic lung disease.
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Evidently, the U.S. represents a vast target area for the atrial fibrillation devices industry and is experiencing a surge in geriatric population as well. Abbot Laboratories, based in Chicago, has even developed the Confirm Rx ICM, which is an insertable cardiac monitor to detect arrhythmias associated with AFib and transmit data to a user’s smartphone.
Referring to other advancements in the country related to the condition, Boston Scientific’s Watchman is an FDA-approved implant for lowering the risk of stroke in people having AFib not caused by heart valve problem. The company claims Watchman is a suitable alternative to patients who require continuous use of blood thinners, demonstrating crucial benefits of the proliferating atrial fibrillation devices market. Separately, Johnson & Johnson had recently confirmed that its subsidiary Biosense Webster, Inc. treated the first AFib patient in the trial of its new radiofrequency ablation catheter, QDOT MICRO, confirming another noteworthy achievement in the field.
In a nutshell, owing to the immense consumer base and constant innovations being pursued by leading firms in the country, the U.S. atrial fibrillation devices market is anticipated to grow with a remarkable 13.9% CAGR between 2019 to 2025. The demand and availability of smart cardiac monitoring devices and minimally invasive ablation procedures could considerably reinforce the industry stance over the forecast timespan.
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