Cardiac Ablation Technologies Market Growth will Be Driven by High Reliance of Electro-physiologists on New Ablation Devices: Fact MR
170 Pages Market Research Survey by Fact MR, A Market Research and Competitive Intelligence Provider, Highlights Key Factors Enabling Cardiac Ablation Technologies Market Growth
The cardiac ablation technologies market survey offers insights into chief growth drivers and restrains impacting the overall growth trajectory. The report also divulges compelling insights into cardiac ablation technologies demand outlook in terms of technology and application. It studies key strategies adopted by vendors to increase sales in cardiac ablation technologies market.
Fact.MR: Fact.MR in its market analysis on cardiac ablation technologies market predicts that market will experience a double-digit growth throughout the assessment period. Presence of modern healthcare infrastructure and rising number of aging population in developed nations are the key market driver.
Cardiac ablation is emerging as the first choice of therapy due to advancement in robotics and introduction of hybrid surgical-catheter ablation for treating of atrial fibrillation. Adoption of 3D electro-anatomical mapping systems and robotic catheter navigation systems will create opportunities for cardiac ablation technologies market expansion.
Latest trends in cardiac ablation technologies suggest that cryoablation and radiofrequency ablations are gaining popularity among patients, as these processes are less painful and minimal invasive.
Beside these, both processes have low risk profile and high convenience factor. Such factors will propel the sales of cardiac cryoablation and radiofrequency ablation devices.
Demand for microwave cardiac ablation is expected to rise between 2021 and 2031 due to successful clinical trials showcasing effectiveness of the procedure in treating atrial fibrillation. Incorporation of microwave ablation procedure due to its low risk of infection will further boost the market growth.
Electro-physiologists are relying on these new ablation devices while performing heart surgeries since they are safe and highly accurate. Market players are promoting these cardiac ablation devices in emerging economies, thus creating revenue generating opportunities in the cardiac ablation technologies market.
“Increasing demand for minimally-invasive surgical procedures to reduce the blood loss and promote faster recovery is expected to accelerate the sales of cardiac ablation systems," said a Fact MR analyst.
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Key Takeaways From Cardiac Ablation Technologies Market Research Report:
- The U.S. cardiac ablation system demand is expected to rise throughout the forecast period due to rising cases of heart ailments among population and favorable reimbursement policies in the country,
- Sales of cardiac radiofrequency ablation is poised to account for more than 55% of total share of revenue generated by global cardiac ablation technologies market by 2031.
- Superior outcomes and high precision laser technology will boost the sales of cardiac ablation laser during the forecast period.
- Demand of cardiac ablation for atrial fibrillation treatment is anticipated to experience around 10% year-on-year growth in 2021.
- Introduction of robotics in cardiac ablation to improve accuracy and safety of the procedure will boost the demand of ventricular tachycardia ablation in upcoming years.
- Rising prevalence of cardiovascular diseases among geriatric population will drive the demand of cardiac ablation devices throughout the assessment period.
- High demand of cardiac ablation technologies owing to its minimal invasive treatment capabilities will boost the growth.
- Increasing awareness regarding advantages of cardiac ablation over traditional surgical procedures.
- Stringent regulatory process for product approval in every phase of clinical trials and product design is hampering the sales of cardiac ablation systems.
- High expenditure and revenue loss due to long approval and inspection time will hamper the market growth.
- High technical complexity of the cardiac ablation procedure and scarcity of skilled operators and personnel will hinder the demand of cardiac ablation devices.
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Johnson & Johnson is a leader in the cardiac ablation technologies market, accounting for more than half of cardiac ablation technologies market shares. The company offers variety of products and invests heavily in advanced technology adoption and development.
In May 2019, Johnson & Johnson’s Biosense Webster launched a state of the art cloud-based cardiac ablation data network “CARTONET platform” to link the field’s devices and share the data used in practice.
Such developmental initiatives will further boost the market expansion during the forecast period.
In order to gain a competitive advantage, market players are venturing towards strategic acquisition and collaborations with start-ups operating in the cardiac ablation technology domain. Increasing investment to develop treatments to diversify their portfolio will further promote such acquisitions between companies.
In June 2021, Boston Scientific Corp. announced the acquisition of a pulsed ablation technology start-up Farapulse for US$ 295 million. Boston Scientific Corp. already owned around 27% stakes in Farapulse, but decided to acquire the company in full to integrate its pulsed electric field ablation technology with its own electrophysiology portfolio for developing treatment of atrial fibrillation and other cardiac arrhythmias.
Key players operating in the cardiac ablation technologies market are
- Hansen Medical Inc.
- Biosense Webster Inc.
- MicroPort Scientific Corporation
- Boston Scientific Corporation
- CardioFocus, Inc.
- Medtronic PLC
More Insights on the Cardiac ablation technologies Market:
Fact MR provides an unbiased analysis of the cardiac ablation technologies market, presenting historical demand data (2020-2026) and forecast statistics for the period from 2021-2031. The study divulges compelling insights on the global cardiac ablation technologies market with a detailed segmentation on the basis of:
- Atrial Fibrillation
- Ventricular Tachycardia
- North America
- Latin America
- Asia Pacific Excluding Japan
- Middle East and Africa
Key Questions Covered In the Cardiac ablation technologies Market Report
- The report offers insight into cardiac ablation technologies demand outlook for 2021-2031
- The market study also highlights projected sales growth for cardiac ablation technologies market between 2021 and 2031
- Cardiac ablation technologies market survey identifies key growth drivers, restraints, and other forces impacting prevailing trends and evaluation of current market size and forecast and technological advancements within the industry
- Cardiac ablation technologies market share analysis of the key companies within the industry and coverage of strategies such as mergers & acquisitions, joint ventures, collaborations or partnerships, and others
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