Unwavering prevalence of cardiac conditions such as flutter, atrial fibrillation, and arrhythmia has driven the adoption of medical procedures such as ablation and electrophysiology study.
Unwavering prevalence of cardiac conditions such as flutter, atrial fibrillation, and arrhythmia has driven the adoption of medical procedures such as ablation and electrophysiology (EP) study. Utilization of EP ablation catheters in treatment of cardiovascular disorders continues to gain significant traction. Patients are being drawn towards reliable procedures such as electrophysiology study for the heart.
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The success rate of these procedures promotes the reputation of catheters being used. Transparency Market Research projects that positive patient attitudes towards the utilization of catheters in ablation procedures and EP studies will foster the growth of the global EP catheter ablation market.
RF Ablation Catheters to Remain in Great Demand through 2020
According to the report, the catheters to be sold in the global EP catheter ablation market by 2026-end will bring in over US$ 2.74 Bn in global revenues. Among these, the report has analyzed that sales of radiofrequency (RF) ablation catheters will be predominant. While the global market for EP catheter ablation will expand at a 7.9% CAGR during the forecast period, 2017-2026, the sales of RF ablation catheters are poised to register growth at 7% CAGR. Throughout the forecast period, over US$ 100 Mn worth of RF ablation catheters are poised to be sold annually across the globe.
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Increasing Use of Ablation Catheters in Treatment of Atrial Fibrillation at Hospitals
Key insights developed in the study reveal that hospitals will be the largest end-user in the global market for EP catheter ablation. By 2026, nearly four-fifth of revenues being procured in the global EP catheter ablation market will be accounted by the end-use of these catheters in hospitals. Since the ablation and electrophysiology procedures require extended hospitalization, the demand for EP catheters and ablation catheters will be considerably high in the global market. In addition, the report also reveals that atrial fibrillation will be the key diseases indication that will propel the growth of the global EP catheter ablation market. While the use of ablation catheters in cardiac arrhythmia will be considerably high, atrial fibrillation will register high revenues, amassing more than US$ 1.5 Bn by 2026-end.
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North America will emerge as the largest market for EP catheter ablation
Based on the regional forecast, the demand for ablation catheters and EP catheters is estimated to be the highest in the US and Canada, compared to other parts of the world. Prevalence of cardiovascular diseases and robust healthcare infrastructure will continue to support the growth of the EP catheter ablation market in the North America region.
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Over the forecast period, North America’s EP catheter ablation market will expand vigorously, registering a value CAGR of 6.7%. Europe will also be at the forefront of global EP catheter ablation market expansion as the second-most leading market. The EP catheter ablation market in the Asia-Pacific excluding Japan (APEJ) region, on the other hand, will register a steady growth on the account of growing geriatric population and manufacturing feasibilities.
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Leading Manufacturers of Ablation Catheters
The report has profiled leading manufacturers of ablation catheters to assess the competition landscape of the global EP catheter ablation market. Companies such as Medtronic Plc., Boston Scientific Corporation, Johnson & Johnson, BIOTRONIK SE & Co. KG, Abbott Laboratories Inc., Lepu Medical Tech Co. Ltd., MicroPort Scientific Corporation, CardioFocus Inc., and Hansen Medical, Inc. are expected to actively partake in the expansion of the global EP catheter ablation market through 2026. Several manufacturers of ablation catheters are likely to focus on product development that aids patient comfort during the ablation procedure and EP studies.
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