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The global atrial fibrillation market size was valued at USD 15.21 billion in 2022 and is projected to grow from USD 15.85 billion in 2023 to USD 21.47 billion by 2030, exhibiting a CAGR of 4.4% during 2023-2030. North America dominated the global market with a share of 39.11% in 2022.
Atrial fibrillation (Afib) is a condition characterized by irregular heart rate resulting in blood clots. The condition, if left untreated, can increase the risk of stroke and is common among groups of people suffering from cardiovascular conditions, including hypertension, atherosclerosis, cardiomyopathy, and others. Furthermore, factors such as increasing age, obesity, smoking, and others also increase the risk of developing this condition among the population. The growing prevalence of the condition across the globe is one of the predominant factors raising the demand for the drugs.
Moreover, the approval of new drugs, increasing investments by companies to develop novel drugs to treat patients, growing awareness among patients in developing nations, and growing initiatives by government organizations to improve patient access to these drugs are some factors promoting market growth.
Market Witnessed a Slow Growth Amid Pandemic Due to Temporary Halt in Supply Chain
The market witnessed a slow growth during the pandemic. A multitude of factors, such as the implementation of stringent lockdowns, disruption in demand and supply chain, and temporary closure of various clinics, among others, impacted this market. The pandemic also impacted the treatment strategies adopted by healthcare professionals for all types of atrial conditions.
According to an article published in the Journal of Clinical Medicine in 2022, a significant difference was observed in the selection of invasive interventional and non-invasive therapeutic strategies by clinicians. In addition, there was a significant decline in conducting catheter ablation and percutaneous left atrial appendage occlusion procedures. In contrast, pharmacotherapy was the preferred option for healthcare professionals during the pandemic.
Furthermore, growth slowed down in 2020; however, it bounced back to normal levels post-pandemic. This rebound was attributed to the reopening of healthcare facilities, an increase in diagnoses, and a growing demand for drugs.
Increasing Focus on Monoclonal Antibodies by Key Players
The growing prevalence of the condition is facilitating the demand for developing novel and innovative drugs in order to manage the condition effectively. The key manufacturers operating in the market are shifting their focus to introduce novel drugs, such as human monoclonal antibodies, to cater to the growing demand.
Furthermore, the regulatory bodies are encouraging the key players to develop various drugs by offering various approvals and designations to the drugs in order to expedite the trial process and an early launch of these drugs for proper treatment.
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Rising Burden of Geriatric Population Coupled with Increasing Prevalence of Cardiovascular Disorders to Augment Market Growth
The growing burden of cardiovascular diseases across the globe is one of the prominent factors increasing the risk of atrial fibrillation and related complications. Many researchers have demonstrated that people who are suffering from high blood pressure, underlying heart diseases, hypothyroidism, and others are at a greater risk of developing the condition.
Hypertension is most often associated with impaired heart physiology, such as impaired ventricular filling, slowing of atrial conduction velocity, and left atrial enlargement, among others. These factors are likely to increase the risk of developing cardiac arrhythmias.
Furthermore, most heart-related complications are common among the elderly population, and increasing age also increases the chances of this condition. According to the United Nations 2023 report, the number of people aged 65 years and above is projected to reach 1.6 billion by 2050. Therefore, the increasing burden of cardiovascular disorders, along with the growing old-age population, is driving the demand for these drugs.
Rising Product Recalls Coupled with Presence of Alternative Treatment Approaches May Limit Market Growth
Despite the growing awareness regarding proper management of the condition and robust research & development to launch new drugs, the rising voluntary recalls of a few products due to safety issues, mislabeling, quality concerns with regards to manufacturing, and others may hamper market growth. The rise in product recalls is likely to hamper the brand presence and shift patient preference toward alternative treatment methods, thereby limiting the adoption of these drugs.
Hence, the increasing number of product recalls is shifting patient preference toward alternative treatment methods, thereby impeding the global market growth.
Anticoagulants Segments’ Growth is Driven by its Increasing Number of Drug Approvals
Based on drug class, the market is segmented into anticoagulants and antiarrhythmic drugs.
The anticoagulants segment accounted for the largest market share in 2022. The growing emphasis of the government to increase the use of anticoagulants in order to manage the condition and related complications is one of the key factors contributing to segment growth.
Moreover, the increasing number of clinical trials initiated by the key players to launch new anticoagulants to cater to the rising demand is also promoting the segment’s growth.
On the other hand, the availability of a conducive research environment to promote the development of antiarrhythmic drugs for managing the condition, shifting manufacturers' focus on developing and seeking approval for new drugs, and others are a few factors fueling the segment’s growth.
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Oral Segment’s Dominance is led by Wide Availability of Orally Administered Drugs
Based on route of administration, the market is segmented into oral, intravenous, and others.
The oral segment dominated the market in 2022 and is anticipated to continue its dominance during the forecast period. The wide availability of these drugs, increasing uptake of oral anticoagulants, and increasing research and development to develop and launch new drugs based on oral administration are factors bolstering the segment growth.
The intravenous segment is expected to grow at a CAGR of 3.4% during the forecast period. The intravenous route of administration-based medications is predominantly used to manage acute rate control in the condition. The limited focus on developing intravenous drugs for managing the condition and atrial flutters is slowing the segment’s growth.
Retail Pharmacies’ Dominance Fueled by Consumer Focus and Strategic Investments
Based on distribution channel, the market is categorized into hospital pharmacies, online pharmacies, and retail pharmacies.
The retail pharmacies segment accounted for the lion’s share and is likely to continue its dominance in the upcoming years. The various advantages, such as the high focus on consumer satisfaction, increasing investment by the retail pharmacies to expand their channel, and cost-effectiveness by reducing shipping costs as in the case of online pharmacies, among others, are a few factors contributing to its market share.
In addition, the online pharmacies segment is anticipated to witness lucrative growth in the forthcoming years. The shifting patient preference toward e-pharmacies is due to factors such as convenience, heavy discounts levied on medicine, home delivery, reduction in transportation costs, and others.
Based on region, this market is divided into Europe, the Middle East & Africa, North America, Latin America, and Asia Pacific.
North America Atrial Fibrillation Market Size, 2022 (USD Billion)
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North America dominated the market in 2022 and was valued at USD 5.95 billion. The rising prevalence of atrial fibrillation in the region, along with the availability of a conducive environment for developing and seeking approval for new drugs, are some factors driving the adoption of these drugs in the region.
Moreover, the rising burden of the old age population and the growing prevalence of hypertension, among others, are a few other factors supporting the growth of the North American market.
Europe held the second position in the global market in 2022. The growing prevalence of various heart diseases, the increasing geriatric population in the region, and increasing investment by regional drug manufacturers to develop drugs are a few prominent factors contributing to the growth of the market.
Asia Pacific is projected to witness stellar growth in the upcoming years. Increasing novel product launches in the region, rising awareness, surging geriatric population, and rising cases of Afib are the factors contributing to regional market growth.
Furthermore, the Latin America and the Middle East & Africa regions are anticipated to grow at a considerable CAGR during the forecast period. Increasing government initiatives to raise awareness about the condition and its proper treatment, the growing old age population, and the population suffering from other cardiovascular disorders are a few factors promoting the adoption of drugs.
Expansion Efforts and Innovative Offerings by Industry Leaders Drive Market Growth
The global market is semi-consolidated with a few players, including Bayer AG, Daiichi Sankyo, Sanofi, and Bristol Myers Squibb, among others. The increasing focus of the key players to expand their geographical footprint and increased focus toward launching innovative drugs, are some factors contributing to their high global atrial fibrillation market share. In addition, a strong distribution network and brand presence of these companies in the market aid in the high market share.
Some other companies, such as Johnson & Johnson, Pfizer, Inc., Eisai Co., Ltd., and others, are continuously engaging in inorganic business activities to establish their footprints in emerging nations.
An Infographic Representation of Atrial Fibrillation Market
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The report delivers a detailed market analysis and market sizing. It focuses on key aspects such as new product launches and technological advancements. In addition, it includes an overview of segments, key industry developments, mergers, partnerships, and acquisitions. Moreover, it covers regional analysis of different segments, key trends, and company profiles of key market players, the competitive landscape, and the impact of COVID-19 on the market. Besides, the report offers an overview of market trends, market opportunities, and the impact of the market on the stakeholders. The report further encompasses qualitative and quantitative insights that contribute to the growth of the market.
ATTRIBUTE | DETAILS |
Study Period | 2019-2030 |
Base Year | 2022 |
Estimated Year | 2023 |
Forecast Period | 2023-2030 |
Historical Period | 2019-2021 |
Growth Rate | CAGR of 4.4% from 2023-2030 |
Unit | Value (USD Billion) |
Segmentation | By Drug Class
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By Route of Administration
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By Distribution Channel
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By Region
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Fortune Business Insights says that the global market size was USD 15.21 billion in 2022 and is projected to reach USD 21.47 billion by 2030.
In 2022, North America stood at USD 5.95 billion.
The market is projected to expand at a CAGR of 4.4% during the forecast period.
By drug class, the anticoagulants segment held the largest market share in 2022.
The key factors driving the market growth are the global rise in atrial fibrillation prevalence, new product launches, an aging population's growing burden, and increased R&D investments for innovative products.
Bayer AG, Bristol Myers Squibb, Sanofi, and Johnson & Johnson, among others, are some of the major players in the global market.
North America held the largest market share and dominated the market in 2022.
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