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Global Cardiac Ablation Industry

Global Cardiac Ablation Industry

  • October 2022
  • 297 pages
  • ID: 5798096
  • Format: PDF
  • Global Industry Analysts

Summary

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Abstract:

What`s New for 2022?

Global competitiveness and key competitor percentage market shares

Market presence across multiple geographies - Strong/Active/Niche/Trivial

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- Global Cardiac Ablation Market to Reach $1.7 Billion by 2026
- Cardiac ablation is a medical procedure for treatment of cardiovascular diseases. The endovascular procedure involves destroying the heart`s damaged tissues that is responsible for incorrect electrical signals and hence regulates the abnormal heart rhythm. The most widely used cardiac ablation technologies are Radiofrequency (RF) ablation and cryoablation. Amid the COVID-19 crisis, the global market for Cardiac Ablation estimated at US$1.1 Billion in the year 2022, is projected to reach a revised size of US$1.7 Billion by 2026, registering a compounded annual growth rate (CAGR) of 10.8% over the analysis period. The United States represents the largest regional market for Cardiac Ablation, and is projected to reach US$760.4 Million by 2026. China is expected to spearhead growth and emerge as the fastest growing regional market with a CAGR of 15.2% over the analysis period.
- The global cardiac ablation market is being driven mainly by the rising prevalence of cardiovascular diseases around the world. With the world`s expanding elderly population facing at high risk of cardiovascular diseases, the market for cardiac ablation technologies and products is poised for growth. Also driving growth is the increasing awareness about the advantages of cardiac ablation procedures compared to conventional procedures and the steady pace of technology advancements in ablation devices. The minimally invasive nature of cardiac ablation procedure and the growing inclination of both patients and healthcare professionals towards least invasive treatments augur well for the cardiac ablation market. With advanced robotic technologies being used in cardiac ablation process, the safety and accuracy of the procedure is enhanced further, thus contributing towards its increased adoption. The successful clinical trials of microwave ablation procedure in the treatment of atrial fibrillation also present considerable opportunities for the market. The large elderly population and the high incidence of cardiac rhythm conditions such as tachycardia, stroke, atrial fibrillation and atrial flutter is contributing to the growth of cardiac ablation market in developed economies. Developing economies present tremendous growth potential for cardiac ablation, with growing incidence of cardiovascular diseases and rising adoption of ablation technology for treatment purposes propelling growth. The market for atrial fibrillation procedure type is forecast to dominate market growth over the analysis period. The demand for atrial fibrillation procedure type is driven by rising incidence of atrial fibrillation (AF) and increasing adoption cardiac ablation for treatment of AF. In the US, the prevalence of AF is expected to increase to 12 million by 2050 compared to 6.1 in 2013. With advancing age increasing the risk of AF, the demand for cardiac ablation technologies is also expected to grow in this age group. Atrial fibrillation is known to enhance risk of stroke, dementia and heart failure in patients. As one of the most common types of cardiac arrhythmias in the world, the demand for cardiac ablation for treatment of AF continues to grow. By type of technology, radiofrequency (RF) ablation is the largest category in the cardiac ablation market. A well-established procedure, RF ablation technology is widely used in cardiac procedures due to higher safety and efficacy associated with it. The segment also benefits from the minimally invasive nature of the procedure, which lowers the risk level for patients. The lower risk and easy to perform features of technique also contribute to the large share of RF ablation market.

Select Competitors (Total 16 Featured)
Abbott Laboratories
Alcon Laboratories, Inc.
AngioDynamics, Inc.
AtriCure, Inc.
Biosense Webster, Inc.
Boston Scientific Corporation
ConMed Corporation
Medtronic PLC
Olympus Corporation

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