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Albany, New York, June 17, 2019 (GLOBE NEWSWIRE) -- According to the report by Transparency Market Research (TMR), the global atrial fibrillation market is likely to project an expansion in CAGR of 11.0% within the forecast period from 2017 to 2026. By the end of forecast period, the market is likely to reach around worth of US$10,925.1 mn revenue by the end of 2026.
Based on product type, the EP ablation catheters segment is anticipated to lead the global atrial fibrillation market in coming years. Regionally, Europe is likely to lead the market within the forecast period, Germany being the hub for catheter ablation.
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High Treatment Cost to Pull Down Demand in Global Market
Rising cases of common ailments for example, diabetes, obesity, hypertension, and so on are key factors behind several health issues. In addition, increasing number of people falling sick, and suffering from high BP and valvular heart ailment owing to rheumatic fever are among the common factors boosting market growth. Besides this, rising prevalence of people suffering from atrial fibrillation, particularly old aged people is another factor behind market growth in forthcoming years.
Advancements in treatment and diagnostic methods to atrial fibrillation is contributing majorly to the market demand. Experts are working consistently on R&D activities to innovate new technologies for early detection and effective treatment methods. Nevertheless, lack of skilled professionals and elevated price of treatment is foreseen to restrict market growth globally.
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EP Ablation Catheters to Hold Dominant Share in Atrial Fibrillation Market
The global atrial fibrillation market is categorized on the basis of product type, end user, and application. Based on product type the market is divided into EP diagnostic catheters, cardiac monitors, EP mapping and recording systems, EP ablation catheters, LAA closure, access devices, and others. Out of these, the demand for EP ablation catheters is competitively high than other products. Over the forecast tenure, this segment is expected to attain a valuation of US$2.7 bn by the end of 2026. In the meantime, EP mapping and recording systems are also expected to witness high growth over this period.
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The application of atrial fibrillation is seen in surgical, EP ablation, and diagnostics. Of these, the EP ablation segment is expected to hold larger share in the global atrial fibrillation market. In terms of end user, the market is segmented into hospitals, electrophysiology labs, and ambulatory surgical center. Among these end users, hospitals are projected to witness high demand over the projected tenure.
The vendor landscape of global atrial fibrillation market is foreseen to experience a high competition among the players owing to emergence of several players in the market. As a result, the market scenario is expected to be very fragmented. The key players operating in global atrial fibrillation market are Abbott Laboratories, Medtronic Plc, Biosense Webster, Inc., Boston Scientific Corporation, and MicroPort Scientific Corporation.
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The information is derived from report titled, "Atrial Fibrillation Market (Product Type - EP Ablation Catheters, EP Diagnostic Catheters, EP Mapping & Recording Systems, Cardiac Monitors, Access Devices, LAA Closure, Other Products; End User - Hospitals, Electrophysiology Labs, Ambulatory Surgical Center; Application - Diagnostic, EP Ablation, Surgical) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 - 2026".
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