WELLESLEY, Mass., Nov. 06, 2018 (GLOBE NEWSWIRE) -- Catheter ablation is evolving as the first-line treatment for individuals affected with atrial fibrillation, while left atrial appendage (LAA) closure procedures are becoming effective alternatives to anticoagulant therapy for stroke management. A new BCC Research study projects that the global market for atrial fibrillation interventions will reach $7.8 billion in 2023.
Atrial fibrillation affects millions of people worldwide. Although treatment approaches exist (e.g., use of pharmacological agents, electrical cardioversion, and pacemakers), electrophysiology-based approaches—catheter ablation and left atrial management devices—are generating increased interest in the clinical community. From an estimated $4.1 billion in 2018, a five-year compound annual growth rate of 13.6% is projected, according to a new report by BCC Research Atrial Fibrillation: Technologies and Global Markets.
Market growth is driven by the increase in prevalence of atrial fibrillation and the launch of premium-priced ablation catheters, diagnostic mapping catheters, and LAA closure devices in developed countries. A significant challenge is the lack of a skilled workforce.
Research Highlights
- Key innovations and the development of advanced ablation catheters present additional choices for selection of the appropriate ablation procedure by the interventional cardiologist and electrophysiologist.
- Developments in 3D electro-anatomical systems, advanced diagnostics, and mapping catheters are assisting and guiding physicians in the visualization and ablation of cardiac tissue.
- Increased evidence of atrial fibrillation burden in developing regions of the world is expected to drive the use of ablation and LAA closure procedures in those areas.
“Electrophysiology ablation catheters and diagnostic catheters are expected to achieve the fastest growth during the forecast period,” the report notes. “The increased demand for improved ablation catheters and diagnostic catheters is driven by the need to reduce the length of procedures, improve ablation efficiencies and reduce recurrence rates.”
Significant Growth Forecast for LAA Closure Devices
The global market for LAA closure devices is expected to increase at a five-year compound annual growth rate of 24.6%. Growth is partially driven by the growing aging population, which has a higher susceptibility to stroke and atrial fibrillation. Positive results from clinical trials are contributing to the expanding use of these devices worldwide.
About BCC Research
BCC Research is a publisher of market research reports that provide organizations with intelligence to drive smart business decisions. By partnering with industry experts worldwide, BCC Research provides unbiased measurements and assessments of global markets covering major industrial and technology sectors, including emerging markets. For more information about BCC Research, please visit bccresearch.com. Follow BCC Research on Twitter at @BCCResearch.