Atrial Fibrillation Drugs Market trends research and projections for 2019-2025
Ocean View, DE -- (SBWIRE) -- 05/21/2020 -- Atrial Fibrillation Drugs Market will exceed USD 17.0 billion by 2025; as per a new research report.
Growing number of geriatric population and increasing prevalence of valvular diseases will boost atrial fibrillation drugs industry growth worldwide. Moreover, rising adoption rate of sedentary lifestyle coupled with increasing habit of binge eating among the millennials in developed as well as developing countries will prove to be a high impact rendering factor for the atrial fibrillation drugs market growth during forthcoming years.
However, drug side effects will be one of the major reasons hindering the adoption rates in few developing and under-developed countries. Drug side effects such as severe bleeding, tiredness, etc. will continue to hamper market growth over the forecast timeframe. Also, lack of awareness regarding recent medical drug therapies for the treatment of atrial fibrillation in certain emerging nations might hamper market growth.
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Anticoagulant drugs market is forecasted to grow at a lucrative rate of 3.5% over the estimation period. Anticoagulant drugs are most widely used across geographies; the need of using these drugs in the three stages of atrial fibrillation will fuel market growth. Anticoagulants have been known for many years to produce a declining rate of stroke in individuals suffering from atrial fibrillation. Moreover, increasing venture capital investment of firms in the manufacturing of therapeutic drugs will further boost product demand. Hence, the aforementioned factors will boost anticoagulants growth in the global atrial fibrillation drugs market.
The use of atrial fibrillation drugs in paroxysmal condition accounted for revenue of USD 7,095.8 million in the year 2018. Paroxysmal atrial fibrillation occurs when there are irregular electric pathways in the heart and the heart is not pumping enough oxygen-rich blood around the body. The likelihood of suffering from paroxysmal atrial fibrillation increases with age. The most suitable treatment for paroxysmal atrial fibrillation is anticoagulants or blood thinners. Hence, rise in population of baby boomers coupled with increasing prevalence of patients suffering from paroxysmal atrial fibrillation will augment market growth.
Application of atrial fibrillation drugs in heart rhythm control will witness a considerable decline at -2.3% over the forecast timeframe owing to decreasing use of these drugs for restoration and maintenance of sinus rhythm in patients with atrial fibrillation. According to the recent data launch of new oral anticoagulants in the market and rise in preference of physicians to prescribe anticoagulants in case of atrial fibrillation will impede the use of antiarrhythmic drugs in heart rhythm control. As per the American Heart Association, currently around 2.7 million to 6 million Americans suffer from some form of atrial fibrillation. Hence, the rising incidence of the disease will boost atrial fibrillation drugs demand but will witness decline in the use of atrial fibrillation drugs in heart rhythm control.
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Injectable atrial fibrillation drugs segment is estimated to grow at 2.4% over the projection period. The growth is attributed to its wide use in patients suffering from acute atrial fibrillation that are forbidden to take drugs orally. Hence, increase in such cases have augmented the segment growth of injectable atrial fibrillation drugs.
Hospitals segment was valued at around USD 6,583.2 million in the year 2018. Hospitals as an end use segment are emerging as one of the preferred healthcare settings for atrial fibrillation care in various countries across the globe. Increasing popularity of this setting in developed countries owing to availability of drug therapies coupled with rising supply agreements of drugs between manufacturing firms and hospitals will strongly propel the growth of atrial fibrillation drugs market in hospitals.
U.S. atrial fibrillation drugs market will witness a growth of 2.4% during the forecast period. Increasing number of major industry players in U.S. facilitates efficient treatment option for patients with atrial fibrillation. Moreover, rising prevalence of chronic diseases such as diabetes, hypertension, etc. will further augment U.S. atrial fibrillation market growth.
China atrial fibrillation drugs market was valued at around USD 805.4 million in the year 2018. The country offers lucrative growth opportunity owing to the unmet needs in large addressable geographical markets. The country's increasing acceptance of private clinics and development of multi-specialty hospitals would propel industry growth over the forecast period.
Industry players having a strong foothold in the atrial fibrillation drugs market include Johnson & Johnson, Pfizer, Sanofi, Bayer AG, Boehringer Ingelheim, Bristol-Myers Squibb, Daiichi Sankyo and AstraZeneca. Various recognized firms are entering in sparsely addressed high potential geographies to expand their industry presence. In addition, introduction of drug therapies in developing countries by these companies enable them to expand revenue sources and cater to unmet needs of patient population.