United States, Rockville MD, July 28, 2022 (GLOBE NEWSWIRE) -- Fact.MR – A Market Research and Competitive Intelligence Provider: The global cardiac ablation devices market is currently valued at US $ 4,919.35 Million. This is expected to witness a CAGR of 11.8% to reach US $ 15,007.95 Million.
Surge in atrial fibrillation is expected to boost the growth of cardiac ablation devices market. Market is driven by high prevalence of cardiac diseases, upsurge in investment in research & development, improvement in healthcare sector/infrastructure.
Moreover, high acceptance of catheter ablation & recent developments introducing robotic catheter navigation systems are offering attractive opportunities for the growth of the market.
In addition to this, high rate of geriatric population in countries such as US, regions in Europe, and Japan is leading to the rise in cardiac diseases. Moreover, enhanced health care infrastructure, advancement in healthcare facilities has improved in recent years. Moreover, better access to various advanced diagnostic and treatment services is expected to boost the growth of the market during forecast period.
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Besides this, North America is expected to offer various attractive opportunities as the market consists of leading players such as Johnson & Johnson, Boston Scientific Corporation, Abbott. Moreover, effective product positioning and various advancements in technology are helping these big firms to generate maximum revenues in the region.
Key Takeaways:
- North America is expected to witness the maximum share of around 37% of the global cardiac ablation technologies market. As per various studies, cardiac arrest is the leading cause of deaths in the US. This offers opportunities for the key cardiac ablation technologies in the region.
- Asia Pacific is expected to grow at a rapid pace during forecast period due to increasing cases of atrial fibrillation & significant investments in healthcare across the region.
- By Technology type, radiofrequency is expected to dominate the market and occupy a revenue share of around 55% by 2032. In meanwhile, cryoablation is gaining huge traction due to successful trials of cryoablation done on patients suffering from breast cancer in the US, European countries and Japan.
- By application area, atrial fibrillation is expected to dominate the market
Growth Drivers:
- Rapid approvals by Food and Drug Administration has boosted the growth of the market
- Increasing incidences and prevalence of cancer and cardiac conditions, technological advancements in ablation products and technologies is likely to boost the growth during forecast period.
- Rise in geriatric population in expected to contribute to the market growth. As per World Health Organization, number of people aged 65 years and above is expected to reach 1.5 Billion by 2050.
- Advancements in technologies such as multi-electrode ablation catheters, balloon-mounted technologies are expected to act as a boon for the growth of cardiac ablation technology market.
Restraints:
- During the peak of Covid-19 pandemic, growth of cardiac ablation treatments were curtailed to conserve healthcare resources and limit exposure.
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Competitive Landscape:
Key players in the market are adopting innovative strategies such as marketing tactics, technological advancements, mergers and acquisitions to expand their market share in the market.
- In 2022, Arga Medtech, a company focusing on Coherent Sine-Burst Electroporation, non-thermal cardiac ablation system for treating cardiac arrhythmias, presented its preliminary findings for its innovative technology in San Franscisco.
- In 2021, Boston Scientific entered into an agreement with Baylis Medical Company to acquire the company. This acquisition will help expand electrophysiology and heart product portfolio
Key Companies Profiled by Fact.MR
- Boston Scientific Corporation
- Biosense Webster Inc.
- Johnson & Johnson
- Medtronic Plc.
- MicroPort Scientific Corporation
- CardioFocus Inc.
- St. Jude Medical, Inc. (Abbott)
- Stryker Corporation
Segmentation of Cardiac Ablation Technologies Industry Research
- By Technology Type :
- Radiofrequency Cardiac Ablation
- Ultrasound Cardiac Ablation
- Cryoablation Cardiac Ablation
- Microwave Cardiac Ablation
- Laser Cardiac Ablation
- Other Cardiac Ablation Technologies
- By Application :
- Cardiac Ablation for Atrial Fibrillation
- Cardiac Ablation for Ventricular Tachycardia
- Cardiac Ablation for Other Applications
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More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the global Cardiac Ablation Technologies Market, presenting historical market data (2017-2021) and forecast statistics for the period of 2022-2032.
The study reveals essential insights by Technology (Radiofrequency, Ultrasound, Cryoablation, Microwave, Laser Cardiac Ablation Technology), by Application (Atrial Fibrillation, Ventricular Tachycardia), by Region – Global Forecast 2022-2032.
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