The atrial fibrillation devices market size in the European region is expected to be worth USD 3.23 billion by 2027 from USD 1.78 billion in 2022, growing at a CAGR of 12.68% from 2022 to 2027.
The growing number of people suffering from heart-related diseases across the European region is one of the major factors propelling the market growth. Changes in regular lifestyle, such as increasing consumption of junk funds, reducing exercise, and others, are causing heart diseases. Atrial fibrillation is the most common heart rhythm disorder in European countries, and nearly 25% of heart strokes are caused by atrial fibrillation. Several devices have been used in cardiology to assess a cardiac rhythm and detect arrhythmias like atrial fibrillation (AF), the most commonly used device by healthcare professionals.
Y-O-Y growth in the aging population across the European region is driving Europe's atrial fibrillation market growth. People over 60 years are more prone to atrial fibrillation disorder, which requires AF devices to provide them with better treatment and a fast recovery. In addition, patients with obesity and diabetes who are most likely above 60 years of age also require the assistance of AF devices leading to market growth.
The increasing adoption of technological advancements in manufacturing atrial fibrillation devices and growing support from the European Society of Cardiology in developing applications in smartphones and tablets for atrial fibrillation are favoring the atrial fibrillation devices market in the European region. Therefore, the European Society of Cardiology has conducted several sessions to explain the usage of the AF applications to better the patient's understanding of the interface, improve the communication between the patient and the healthcare provider, and encourage the patient's involvement in sharing their condition through the application. Furthermore, these applications are available for free for Android and iOS phones through Google Play, Amazon, and Apple stores to promote the usage of these applications.
However, high costs associated with atrial fibrillation devices across the European region are a significant factor hampering the market growth. In addition, the lack of proper infrastructure to perform atrial fibrillation procedures and the need for skilled professionals are inhibiting the market’s growth rate.
This research report on the Europe atrial fibrillation devices market has been segmented and sub-segmented into the following categories.
By Product:
By End-use:
By Country:
During the forecast period, the European region accounted for a considerable share of the worldwide market in 2021 and is forecasted to have good occupancy in the global market during the forecast period. The growth of the European market is driven by the growing number of reimbursement policies for using digital devices for atrial fibrillation processes demand the use of AF devices. Early treatment for AF is essential to improve the patient's life span and quality of life. Additionally, Europe also provides some guidelines for AF management to involve shared decision-making between the patients and the healthcare professional to improve care to the patient and ensure a fast recovery. During the pandemic, the European region provided TeleCheck-AF, a remote patient management system that supports patients through teleconsultations based on the rhythm application.
The UK led the European market in 2021 and is expected to hold the leading sport in this region throughout the forecast period. In the UK, approximately 1.5 million people suffer from atrial fibrillation, a common heart rhythm disturbance in the United Kingdom. Half of the patients are using medication for AF and taking treatment in hospitals. Key players in the region are focused on developing different types of atrial fibrillation devices for different types of cardiac problems. Remote patient monitoring devices are also used for atrial fibrillation, which helps prevent the disorder by storing the data in the related application and sharing it with the healthcare provider for better treatment. This data is securely stored in a cloud-based system, which helps the future analysis of the treatment.
On the other hand, the German market is anticipated to showcase a healthy CAGR in the coming years.
KEY MARKET PLAYERS:
Companies such as Atricure Inc., Microport Scientific Corporation, Boston Scientific Corporation, St. Jude Medical, Inc., Medtronic Plc, Koninklijke Philips N.V., Siemens AG, Abbott Laboratories, and Johnson & Johnson are playing a leading role in the European atrial fibrillation devices market.
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