Atrial Fibrillation Market Size, Share, Growth Analysis, By Technology(Radiofrequency, Laser), By End User(Hospitals, Specialty Clinics) - Industry Forecast 2024-2031

Drivers

Increasing geriatric population

• The rising geriatric population is the major driving factor in the atrial fibrillation market, as the geriatric population is prone to Atrial Fibrillation. For instance, according to the World Health Organization (WHO) by 2030, approximately one in six individuals globally will be 60 years or older, representing a notable demographic shift. During this period, the proportion of the population aged 60 years and above is anticipated to rise from 1 billion in 2020 to 1.4 billion. Looking ahead to 2050, the worldwide population of individuals aged 60 and older is projected to double, reaching 2.1 billion. Furthermore, there is an expected threefold increase in the number of individuals aged 80 years or older between 2020 and 2050, reaching a total of 426 million. These demographic projections underscore the significant aging trend shaping the global population in the coming decades.

Restraints

High Cost of Treatment

• The high treatment cost of atrial fibrillation is a major concern that is expected to hamper the growth of the atrial fibrillation market. For instance, according to Science Direction, the mean cost per patient is USD 3,530 (95% CI $3,328–$3,732) for hospital admissions, USD 3,878 (95% CI $3,769–$3,987) for visits to outpatient facilities, and $394 (95% CI $358–$430) for visits to the emergency room. Hence the high cost of treatment hampering the atrial fibrillation market growth