LOS ANGELES, May 09, 2019 (GLOBE NEWSWIRE) -- The Global Atrial Fibrillation Drugs Market is estimated to grow at CAGR above 3.4 % over the forecast time frame 2019-2026 and reach the market value around USD 17.5 billion by 2026.
Increased geriatric population worldwide is one of the biggest growth factors, because people over 65 years of age are prone to chronic conditions such as auric fibrillation, diabetes, high blood pressure etc. Moreover, the increase in cardiovascular prevalence in the United States, in particular, will boost the growth of the market for atrial fibrillation in the coming years. One of the major impending growth factors is the side effects linked to the regular intake of atrial fibrillation drugs. Side effects such as excessive bleeding, fatigue, etc. are likely to impair the growth of the market. In addition, a lack of awareness of recent pharmaceutical therapies is a further obstacle to growth.
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Industry Insights
The market for auricular fibrillation anticoagulants was estimated at approximately US$ 11.5 trillion in 2018. Anticoagulants have been introduced in order to reduce atrial fibrillation in people with stroke. Anti-platelet or anticoagulant therapy based on the age of the patient and the presence of other risk factors should be considered in patients with atrial fibrillation. A substantial increase in the incidence of strokes associated with auric fibrillation has increased demand for anticoagulants in recent years and increased the growth of the market for atrial fibrillations.
The use of atrial paroxysmal fibrillation medicines over the estimated period is increased to 2.9 percent. Paroxysmal atrial fibrillation occurs when the heart's electrical pathways are irregular and the heart does not pump enough oxygen-rich blood, which results in erratic cardiac rates which last up to 24 hours. In the geriature and younger generation, the occurrence of paroxysmal aural fibrillation obviously increases due to factors like valve disorders, coronary artery disease, pre-cardial surgery etc. The above reasons will therefore increase the growth of the market for atrial fibrillation drugs.
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In 2018 the use of the cardiac rhythm control market for atrial fibrillation drug was estimated at USD 3.3 billion. The control of cardiac rhythm consists of maintenance and acute restoration of sinus rhythm in atrial fibrillation patients. Cardiovascular control can actually lower atrial death and morbidity associated with fibrillation. There is a much higher risk of progression of arrhythmia among patients with coexisting cardiovascular conditions such as obstructive sleep apnea, hypertension, heart disease, and heart failure. The increasing incidence and geriatric population of these cardiovascular diseases therefore will increase the cardiac rhythm contrasting.
Over the forecast period, oral atrial fibrillation drug market will grow at 3.1 %. The objective of medical treatment is to prevent complication risks, maintain the rhythm of the sinus and minimize atrial fibrillation symptoms for patients with atrial fibrillation. Oral drug therapy like warfarin is the cornerstone of oral anticoagulant therapy for patients who are at high risk. As the incidence of atrial strokes worldwide increases, oral drug therapies are undergoing a upward path to market growth.
The use of atrial medicines is estimated to increase by 3% over the forecast period in hospitals. Increased popularity in developing and development countries for anticoagulant and antiarrhythmic drugs will strongly contribute to higher demand for aura in hospitals. In addition, the growth of the auric fibrillation drug market would further expand investments and partnerships with different manufacture companies.
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Regional Snapshots
The US market for atrial fibrillation drugs is the world's largest, and it is expected to expand by 2.4% over the forecast period. It will continue to increase with stable growth during the forecast period and lead the industry worldwide. The US atrial fibrillation market is supposed to be driven during projection years by increasing geriatric population, increasing investment in venture capital from manufacturing companies and increasing adoption rates of new medicinal product for severe conditions in patients under atrial fibrillation in the country.
Key Players & Strategies
The major industrial operators in the global market are Johnson & Johnson, Pfizer, Sanofi, Bavier AG, Boehringer Inglheim, Bristol-Myers Squibb, Daiichis, Sankyos and AstraZeneca. Due to their strong financial position and better brand recognition these key market players hold majority market share. These firms’ main strategies in the market include launching of new products, expansion strategy, procurement strategy, and other measures to achieve a competitive advantage over their peers.
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