Newark, New Castle, USA, March 08, 2023 (GLOBE NEWSWIRE) -- According to the latest report published by Growth Plus Reports, the global cardiac ablation devices market is expected to clock US$ 4.49 billion by 2030 and to grow at a CAGR of 11.4% during the forecast period. This exclusive information is published by Growth Plus Reports in its report titled “Cardiac Ablation Devices Market – Global Outlook & Forecast 2022-2030”
Cardiac ablation devices are utilized as a minimally invasive therapeutic option for atrial fibrillation. Radiofrequency (RF) and cryo-balloon (CB) catheters are most commonly utilized for ablation, with RF catheters being the most commonly employed technique. The cardiac ablation procedure uses energy to destroy the faulty part of the cardiac tissue. It can also be used to treat atrial fibrillation, a form of abnormal heartbeat. Cardiac ablation is a surgical procedure that scars small portions of the heart to treat cardiac arrhythmias.
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Cardiac Ablation Devices Market Scope
| Report Attribute | Details |
| Market size value in 2021 | US$ 1.7 billion |
| Revenue forecast in 2030 | US$ 4.49 billion |
| Growth Rate | CAGR of 11.4% from 2022 to 2030 |
| Base year for estimation | 2021 |
| Forecast period | 2022-2030 |
| Historical Year | 2020 |
| Segments covered | Type, Function, Application, End User, and Region |
| Regional scope | North America, Europe, Asia Pacific, and the Rest of the World (ROW) |
Market Drivers
Due to advancements in automation and the emergence of hybrid surgical-catheter ablation for the treatment of atrial fibrillation, cardiac ablation is an emerging option for therapy. The use of 3D electro-anatomical mapping systems and robotic catheter navigation systems is expected to trigger the opportunity in the new markets for cardiac ablation technology.
According to recent advances in cardiac ablation technologies, cryoablation, and radiofrequency ablations are the most popular technology among patients and physicians, since they are less painful & less intrusive with a convenient interface. Over the forecast period, the rising prevalence of cardiovascular disorders among the older population will boost the demand for cardiac ablation devices. As they offer low-invasive therapeutic capabilities, cardiac ablation technologies are in high demand. The increase in research activities to test the efficacy and safety of ablation devices, as well as the growing demand for minimally invasive treatments, are also expected to boost market expansion. Moreover, rapid technical enhancement in cardiac ablation devices, as well as an increase in the number of patients base, are likely to fuel the expansion of the cardiac ablation devices market.
The global cardiac ablation devices market has been analyzed from five perspectives: Type, Function, Application, End User, and Region
Excerpts from ‘By Application Segmentation’
Based on application, the global cardiac ablation devices market has been segmented into:
- Cardiac Rhythm Management
- Open Surgery
- Others
The cardiac rhythm management segment dominates the global market with the highest CAGR in 2021. Due to several technological advances, the cardiac rhythm management segment is likely to increase at a high rate throughout the forecast period. Monitoring equipment is developed to provide a stronger doctor-patient interaction as well as in-depth illness analysis and diagnosis while providing high-efficiency services. One of the most significant advantages is the early diagnosis of any irregularities in cardiac activity, which is required for effective therapy.
Furthermore, integrating cloud-based management enables hospitals to better manage databases and simplify operations with greater efficiency and efficacy. Poor eating habits, excessive alcohol consumption, and smoking intake along with a sedentary lifestyle are important factors contributing to an increase in the number of people suffering from Noncommunicable Diseases (NCDs). Hence, these all factors contribute to the growth of the cardiac rhythm management segment, thereby propelling the overall market.
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Excerpts from ‘By Region Segmentation’
The global cardiac ablation devices market has been segmented into:
- North America
- Europe
- Asia Pacific
- Rest of the World
Europe holds the second position in terms of market revenue attributing to high technological advancement adoptions, growing patient base, increasing awareness of cardiac ablations & its benefits, and the presence of some of the key market players with developed healthcare infrastructure. Similarly, Asia Pacific region is estimated to show significant growth during the projected timeline. The growing elderly population, rapidly increasing incidence of cardiovascular illnesses, rising acceptance & awareness of ablation cardiovascular disease therapy, and an expanding number of ablation product manufacturers are some of the primary drivers driving market growth in Asia Pacific. Emerging markets such as China, India, Brazil, and Mexico have also gained a good amount of popularity among the companies engaged in the development, manufacturing, and distribution of cardiac ablation products.
Excerpts from ‘Competitive Landscape’
Some of the prominent players operating in the cardiac ablation devices market are:
- Johnson & Johnson Services Inc.
- Abbott Laboratories
- Novartis AG
- Boston Scientific Corporation
- Stryker Corporation
- Acutus Medical Inc.
- Medtronic Plc.
- Biotronik SE & Co. KG
- Biomerics
- Stereotaxis Inc.
- Atricure Inc.
Table of Content
- INTRODUCTION
- Market Ecosystem
- Timeline Under Consideration
- Historical Years – 2020
- Base Year – 2021
- Forecast Years – 2022 to 2030
- Currency Used in the Report
- RESEARCH METHODOLOGY
- Research Approach
- Data Collection Methodology
- Data Sources
- Secondary Sources
- Primary Sources
- Market Estimation Approach
- Bottom Up
- Top Down
- Market Forecasting Model
- Limitations and Assumptions
- PREMIUM INSIGHTS
- Current Market Trends (COVID-19 Perspective)
- Key Players & Competitive Positioning (2021)
- MARKET DYNAMICS
- Drivers
- Restraints
- Opportunities
- GLOBAL CARDIAC ABLATION DEVICES MARKET- ANALYSIS & FORECAST, BY TYPE
- Radiofrequency (RF) Ablation
- Electrical Ablation
- Ultrasound Ablators
- Microwave Ablators
- Cryoablation Devices
- GLOBAL CARDIAC ABLATION DEVICES MARKET- ANALYSIS & FORECAST, BY FUNCTION
- Automated
- Conventional
- GLOBAL CARDIAC ABLATION DEVICES MARKET- ANALYSIS & FORECAST, BY APPLICATION
- Cardiac Rhythm Management
- Open surgery
- Others
- GLOBAL CARDIAC ABLATION DEVICES MARKET- ANALYSIS & FORECAST, BY END USER
- Hospitals
- Clinics
- Ambulatory Surgical Centers
- Others
TOC Continued…
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