New York, Aug. 17, 2020 (GLOBE NEWSWIRE) -- According to the current analysis of Reports and Data, the Global Cardiac Mapping Market was valued at USD 1.37 billion in 2019 and is expected to reach USD 2.66 billion by the year 2027, at a CAGR of 8.5%. Cardiac mapping is the development of detection of the temporal and spatial divisions of myocardial electrical potentials during a heart rhythm.
Cardiac mapping is broadly useful to identify heart issues such as arrhythmia, which is a very common heart disorder and is growing across the world. According to the estimations provided by the Centers for Disease Control and Prevention (CDC), around 2% of people younger than 65 years old are expected to suffer from atrial fibrillation, while about 9% of people aged 65 and older already have the disorder. The increasing incidences of such cardiac illnesses are expected to fuel market growth in the future. Furthermore, the rising number of innovative devices introduced by various key players is expected to drive the cardiac mapping industry. The growing number of certified and experienced cardiologists in the developing economies is also a primary factor driving the market growth.
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COVID-19 Impact Analysis:
The COVID-19 outbreak has resulted in more than a million deaths. The pandemic has impacted almost every industry and sector. There will also be a substantial change in the product pipeline, and the overall supply chain as macroeconomic shifts take place. As a result of the outburst, government authorities are increasingly concerned about the health and safety of citizens and healthcare workers. Moreover, the regulatory bodies and governments of various countries have issued numerous safety regulations of all sorts. To raise safety and health awareness, multiple organizations like the World Health Organization (WHO) and government health agencies are continuously guiding combating health diseases. The government initiatives are expected to provide traction to the market in the near future, considering the aftermath. The medical sector will be at the receiving end of many investments, an intervention from various sources. Once the COVID-19 cases start decreasing, the treatment of other chronic diseases will be back in the priority. These factors indicate that there will be prospects for the cardiac mapping market in the future.
Various new entrants in the industry are known to have invested in research and development to introduce innovative products to establish themselves in the competitive landscape. Furthermore, the increasing geriatric population, which is expected to be immensely prone to chronic disorders, including cardiac disorders, diabetes, and others, could lead the cardiac mapping industry towards growth. The rising funds and grants by the government and various other institutions is also a major driver for the market. Such funds and grants could lead to various new technological advancements that will develop the healthcare sector leading to better treatments. The lack of awareness about cardiac mapping in developing regions could be a primary factor that may hinder the market growth. Furthermore, the high cost of such systems and complex processes associated with the same may also be some major restraints for the market.
Further key findings from the report suggest
- Increasing mergers and acquisitions are expected to drive market growth in the future. For instance, in 2019, Acutus Medical entered into a collaboration with Peerbridge health. The merger facilitates the use of the AcQMap system in combination with Peerbridge Cor, an ECG product that detects different types of arrhythmias.
- In January 2019, Abbott received and FDA approval for its TactiCath catheter, which is capable of implying 3D mapping and can be significantly used to treat atrial fibrillation. Such approval for innovative devices could fuel the market extensively.
- In September 2019, a cardiovascular tech developer Ablacon Inc. announced that they released an updated version of their existing technology under the company’s CE mark. Ablamap uses a novel and proprietary algorithm, operated by artificial intelligence, to visualize the flow of electrical activity within the heart. Once visualized, the Electrographic Flow map can be used to guide the application of ablation therapy to target potential sources of atrial fibrillation
- Various key players have launched their products in different regions to expand their sales. For instance, in November 2019, a cardiology device developer, Baylis Medical, launched its 2 French (2F) EPstar fixed electrophysiology catheter in the United States.
- Key participants in the market include Abbott, Boston Scientific Corporation, Medtronic, EP Solutions SA, Acutus Medical, Biosense Webster, Koninklijke Philips N.V., Epmap-System, MicroPort Scientific Corporation, and CoreMap.
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For the purpose of this report, Reports and Data has segmented the Cardiac Mapping Market on the basis of technology, application, end-use, and region:
Technology Outlook (Revenue in USD Million; 2017–2027)
- Contact Cardiac Mapping
- Basket Catheter Mapping
- Electroanatomical mapping
- Real-time Positional Management (RPM) EP System
- Traditional Endocardial Catheter Mapping
- Non- Contact Cardiac Mapping
Application Outlook (Revenue in USD Million; 2017–2027)
- Atrial Fibrillation
- Atrial flutter
- AV-nodal reentrant tachycardia (AVNRT)
- Others
End-use Outlook (Revenue in USD Million; 2017–2027)
- Hospitals
- Clinics
- Diagnostic and Imaging Centers
- Others
To identify the key trends in the industry, click on the link below: https://www.reportsanddata.com/report-detail/cardiac-mapping-market
Regional Outlook (Revenue in USD Million; 2017–2027)
- North America
- U.S.
- Canada
- Europe
- Germany
- France
- U.K.
- Spain
- Italy
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- Rest of Asia Pacific
- Latin America
- Brazil
- Middle East & Africa
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