Atrial Fibrillation Drugs Market: Current Analysis and Forecast (2021-2027)
Emphasis Product (Anticoagulant and Antiarrhythmic Drugs); Type (Paroxysmal Atrial Fibrillation, Persistent Atrial Fibrillation, And Longstanding Persistent Atrial Fibrillation); End-Users (Hospitals, Ambulatory Surgical Centers, and Others); and Region/Country
The atrial fibrillation drugs market has captured significant market demand and is expected to grow at a CAGR of 5% during the forecast period. Atrial fibrillation (A-fib) is an irregular heart rhythm, also known as a type of arrhythmia. It can interrupt the normal flow of blood in the body and increase the risk of blood clots and stroke. The rapidly rising number of atrial fibrillation cases is one of the main reasons for the growth of the atrial fibrillation drug market. For instance, as per CDC, it is estimated that 12.1 million people in the United States will have AFib in 2030. In 2019, AFib accounted for 26,535 deaths. Furthermore, the increasing number of surgeries and the increasing prevalence of stressful lifestyle is also responsible for arrhythmia cases resulting in the significant market growth of the atrial fibrillation drugs market. Additionally, as per CDC, hypertension, smoking, and alcohol consumptions are the factors that can cause atrial fibrillation.
COVID-19 has a staggering effect on the global market. However, the market for atrial fibrillation drugs was not largely affected by the pandemic. This is mainly due to the COVID-19 pandemic, the government imposed strict regulations on healthcare institutions and essential treatments were allowed. Cardiac diseases come under essential care and the market for heart diseases did not affect by the pandemic.
Pfizer Inc., AstraZeneca Plc, Boehringer Ingelheim International GmbH, Sanofi S.A., Bristol-Myers Squibb Company, Mitsubishi Tanabe Pharma Corporation, Johnson and Johnson, DAIICHI SANKYO COMPANY LIMITED, GlaxoSmithKline plc, and Portola Pharmaceuticals are some of the key players in the market. Several strategic measures have been undertaken by these players to facilitate customers with hi-tech and innovative products/technologies.
Insights Presented in the Report
“Amongst product, anticoagulant drug category is expected to witness considerable growth during the forecast period”
Based on product, the market has been categorized into anticoagulant and antiarrhythmic drugs. Amongst these, anticoagulant drugs are expected to the significant growth in the atrial fibrillation drugs market. The ease in availability and efficacy significantly contributes to the market growth of the segment. Furthermore, the availability of new medications in the anticoagulant drug category for the prevention of strokes has shown impressive results and also has a positive impact on the segmental growth of the anticoagulant drugs
“Amongst disease type, paroxysmal atrial fibrillation category held a significant share in 2020”
Based on the disease type, the market has been categorized into paroxysmal atrial fibrillation, persistent atrial fibrillation, and longstanding persistent atrial fibrillation. Amongst these, the paroxysmal atrial fibrillation category is expected to witness significant growth during the forecast period. This mainly owing to the higher prevalence of paroxysmal atrial fibrillation (PAF) and changing lifestyle preferences. For instance, as per the research conducted by NCBI, the prevalence of PAF found in a population referred for continuous 24-hour electrocardiographic monitoring for diverse reasons was 2.5% and the overall AF/AFL prevalence was 12.4%. PAF was more prevalent in younger patients.
“Amongst end-users, hospitals to lead growth in the global atrial fibrillation drugs market”
Based on end-users, the market is segmented into hospitals, ambulatory surgical centers, and others. The hospitals are predicted to have considerable market growth during the forecast period. This is due to the specialization of hospitals in multiple disease treatments and the presence of skilled professionals. Furthermore, the increasing investments of the developing nations in hospitals significantly contribute to segmental growth in the atrial fibrillation drugs market. For instance, the Government of India had allocated US$ 2,673.9 million for the 16 new AIIMS.
“North America to witness significant growth during the forecast period”
North America grabbed a significant market share of the global atrial fibrillation drugs market in 2020. It is expected to grow with considerable CAGR during the forecast period (2021-2027F). The major factors such as the presence of healthcare infrastructure and the increasing geriatric population attributed to the growth of the region in the atrial fibrillation drugs market. Furthermore, the higher health insurance is also responsible for the increase in the number of surgeries that results in the rising demand for drugs in the region. According to the US Census, 91.4% of U.S. citizens were covered with health insurance in 2020.
Reasons to buy this report:
- The study includes market sizing and forecasting analysis validated by authenticated key industry experts.
- The report presents a quick review of overall industry performance at one glance.
- The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolio, expansion strategies, and recent developments.
- Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry.
- The study comprehensively covers the market across different segments.
- Deep dive regional level analysis of the industry.
Customization Options:
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Table of Contents
Research Methodology for the Global Atrial Fibrillation Drugs Market Analysis (2021-2027)
Analyzing the historical market, estimating of the current market, and forecasting the future market of the global atrial fibrillation drugs market were the three major steps undertaken to create and analyze the adoption of atrial fibrillation drugs in major regions globally. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the global atrial fibrillation drugs market. Post assumption and validation of market numbers through primary interviews, we employed a top-down/bottom-up approach to forecasting the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments of the industry pertains to. Detailed methodology is explained below:
Analysis of Historical Market Size
Step 1: In-Depth Study of Secondary Sources:
Detail secondary study was conducted to obtain the historical market size of the atrial fibrillation drugs market through company internal sources such as annual reports & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.
Step 2: Market Segmentation:
After obtaining the historical market size of the atrial fibrillation drugs market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. Major segments included in the report as product, disease type, and end-users. Further country-level analyses were conducted to evaluate the overall adoption of testing models in that region.
Step 3: Factor Analysis:
After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of the atrial fibrillation drugs market. Further, we conducted factor analysis using dependent and independent variables such as product, disease type, and end-users of atrial fibrillation drug equipment. A thorough analysis was conducted for demand and supply-side scenarios considering top partnerships, mergers and acquisitions, business expansion, and product launches in the atrial fibrillation drugs market sector across the globe.
Current Market Size Estimate & Forecast
Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the global atrial fibrillation drugs market, and market shares of the segments. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.
Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., the top-down/bottom-up approach were applied to arrive at the market forecast about 2027 for different segments and sub-segments across the major markets globally. The research methodology adopted to estimate the market size encompasses:
- The industry’s market size, in terms of revenue (USD) and the adoption rate of the atrial fibrillation drugs market across the major markets domestically
- All percentage shares, splits, and breakdowns of market segments and sub-segments
- Key players in the global atrial fibrillation drugs market in terms of solutions offered. Also, the growth strategies adopted by these players to compete in the fast-growing market
Market Size and Share Validation
Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.
Split of Primary Participants in Different Regions
Market Engineering
Data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers of each segment and sub-segment of the global atrial fibrillation drugs market. Data was split into several segments & sub-segments post studying various parameters and trends in the areas of product, disease type, and end-users in the global atrial fibrillation drugs market.
The main objective of the Global Atrial Fibrillation Drugs Market Study
The current & future market trends of the global atrial fibrillation drugs market were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments from the qualitative and quantitative analysis performed in the study. Current and future market trends were determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit as a first-mover advantage. Other quantitative goals of the studies include:
- Analyze the current and forecast market size of the atrial fibrillation drugs market in terms of value (USD). Also, analyze the current and forecast market size of different segments and sub-segments
- Segments in the study include areas of product, disease type, and end-users.
- Define and analysis of the regulatory framework for the atrial fibrillation drugs market industry.
- Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors of the industry.
- Analyze the current and forecast market size of the atrial fibrillation drugs market for the major region.
- Major countries of regions studied in the report include Asia Pacific, Europe, North America, and Rest of the world.
- Company profiles of the atrial fibrillation drugs market and the growth strategies adopted by the market players to sustain in the fast-growing market
- Deep dive regional level analysis of the industry
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