Atrial Fibrillation Drugs Market: Introduction
• Atrial fibrillation is the most common sustained cardiac arrhythmia disorder across the globe. It is caused by degeneration of the electrical impulses in the upper cardiac chambers (atria) of the heart, leading to chaotic rhythm. Advancing age, diabetes, high blood pressure, obesity, excessive alcohol consumption, chronic kidney disease, and ischemic heart disease are the major risk factors for atrial fibrillation. According to the American Heart Association, the lifetime risk of developing atrial fibrillation is 25% for individuals aged 40 years and above. Atrial fibrillation leads to increased hospitalization rate, impaired quality of life, and increased risk of stroke and death. Atrial fibrillation medications are utilized to control the heart rate and rhythm by preventing blood clots, which leads to effective management of the disease. Warfarin, Apixaban, Sotalol, Esmalol, Verapamil, and Dofetilide are some of the atrial fibrillation drugs currently available in the market.
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Key Drivers, Restrains, and Opportunities of Global Atrial Fibrillation Drugs Market
• Increase in the number of geriatric patients and rise in prevalence of atrial fibrillation across the globe are major factors driving the global atrial fibrillation drugs market. According to the Centers for Disease Control and Prevention (CDC), 2.7 million to 6.1 million people in the U.S. are suffering from atrial fibrillation, and the number is expected to reach 12.1 million by 2030. This is projected to fuel the demand for atrial fibrillation drugs during the forecast period. Increase in the geriatric population is a major factor contributing to high prevalence of atrial fibrillation, which in turn is anticipated to propel the market in the next few years. For instance, prevalence of atrial fibrillation increases with age, affecting around 10% of the population aged 80 years and above. However, high cost of anticoagulants and complications associated with the use of atrial fibrillation drugs including shortness of breath, low blood pressure, seizures, slow heart rate, fainting, hallucinations, and heart palpitations are likely to restrain the global market from 2021 to 2031.
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Atrial Fibrillation Drugs Market: Segmentation
• The global atrial fibrillation drugs market can be segmented based on drug class, type, route of administration, end-user, and region. In terms of drug class, the market can be categorized into calcium channel blockers, beta-adrenergic receptor blockers, cardiac glycosides, antiarrhythmic drugs, anticoagulants, and antiplatelet agents. The anticoagulants segment held a considerable share of the global market in 2020. Based on type, the global atrial fibrillation drugs market can be divided into paroxysmal, persistent, and long-standing atrial fibrillation. In terms of route of administration, the global market can be bifurcated into oral and injectable. Based on end-user, the global atrial fibrillation drugs can be classified into hospitals, ambulatory surgical centers, and others.
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North America to Capture Major Share of Global Atrial Fibrillation Drugs Market
• The global atrial fibrillation drugs market can be segmented into five major regions: North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America is projected to account for a prominent share of the global market between 2021 and 2031. Rise in prevalence of cardiovascular diseases such as atrial fibrillation among the aging patient pool, presence of leading drug manufacturers in the U.S., and favorable reimbursement scenario for cardiac surgeries are anticipated to drive the demand for atrial fibrillation drugs in the country. According to CDC, 9% of the geriatric population aged 65 and above has atrial fibrillation in the country. High geriatric patient pool with cardiac disorders and rise in prevalence of atrial fibrillation is expected to drive the demand for atrial fibrillation therapeutics in Europe in the next few years. For instance, atrial fibrillation affects approximately 4.5 million people in countries in Europe. Rapid adoption of western lifestyle, which increases the risk of cardiac diseases, and surge in the baby boomer population suffering from cardiovascular ailments in developing countries such as India and China are key factors boosting the atrial fibrillation drugs market in Asia Pacific.
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Key Players Operating in Global Atrial Fibrillation Drugs Market
The global atrial fibrillation drugs market is highly concentrated due to the presence of key players. A large number of manufacturers hold a major share in their respective regions. Demand for products to treat chronic diseases has increased in emerging as well as developed markets. Growth strategies adopted by leading players are likely to drive the global atrial fibrillation drugs market. These players focus on research and development activities for innovative product launches, as well as mergers & acquisitions to expand product portfolio and enhance geographic presence.
Major players operating in the global atrial fibrillation drugs market are listed below:
• Pfizer
• GlaxoSmithKline
• Johnson & Johnson
• Sanofi
• Boehringer Ingelheim Pharmaceuticals, Inc.
• Daiichi Sankyo Company, Limited
• Acesion Pharma
• Bristol-Myers Squibb Co.