According to DelveInsight, the Global Cardiac Ablation Devices Market was valued at USD 2.25 billion in 2021 and growing at a CAGR of 12.77% during the forecast period (2023 to 2028); it is expected to reach USD 4.63 billion by 2028.
The Global Cardiac Ablation Devices Market is anticipated to grow owing to the rise in the prevalence of cardiovascular diseases, technological advancements, increasing geriatric population, and greater penetration and acceptance of Cardiac Ablation Devices in emerging countries. Some of the key companies in the Global Cardiac Ablation Devices Market include Abbott Laboratories, Boston Scientific Corporation, Avanos Medical, Inc., Auris Health, Inc., Olympus, CONMED Corporation, ERBE ELEKTROMEDIZIN GMBH, AngioDynamics, Medtronic Inc., AtriCure, Inc., Biosense Webster, Inc., Teleflex Incorporated, St. Jude Medical Inc., Lepu Medical Technology(Beijing)Co., Ltd., MicroPort Scientific Corporation, and others.
DelveInsight’s “Cardiac Ablation Devices Market Insight, Competitive Landscape and Market Forecast – 2028” research report provides the current and forecasted Cardiac Ablation Devices market size, share, and trends analysis for the next five years. Moreover, it highlights the ongoing innovations in the segment, major market drivers & barriers, key competitors, and emerging devices in the domain.
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Cardiac Ablation Devices Market: Overview
Cardiac Ablation is a surgical technique that can correct cardiac arrhythmias by scarring tiny heart regions. Cardiac arrhythmias arise when there is a deficiency of the electrical impulses that regulate the heartbeats. As a consequence, heartbeats are irregular and can lead to stroke or heart failure if left untreated, and are one of the main causes of death. The global demand for Cardiac Ablation devices is projected to record significant growth due to a rise in the geriatric population and an increase in the cardiovascular disease population base.
As per the assessment, Radiofrequency Ablators are expected to hold the largest share in the Cardiac Ablation Devices market product segment. Radiofrequency Ablator is one of the fastest-growing segments in the market owing to several advantages associated with these devices. Radiofrequency Ablator is minimally invasive, enables excellent local tumor control, has promising long-term survival, and is a multimodal approach.
Cardiac Ablation Devices Market Analysis
The Cardiac Ablation Devices Market is anticipated to observe immense growth in the coming years owing to the rise in the prevalence of cardiovascular diseases like atrial fibrillation, cardiac arrhythmia, and stroke. Atrial fibrillation is a major risk factor for ischemic stroke and provokes an important economic burden and significant morbidity and mortality. It is observed that the risk for atrial fibrillation increases with age. High blood pressure, the risk which also increases with advancing age, accounts for about 1 in 5 cases of atrial fibrillation.
Similarly, various factors are directly linked with cardiac arrhythmia, leading to a rise in the number of cases globally. The major risk factor for cardiac arrhythmia includes pre-existing medical conditions such as diabetes, hypertension, hyperthyroidism, mental stress, heart conditions, old age, and lifestyle-associated factors such as smoking, alcohol abuse, drug abuse, excessive caffeine consumption, and others. Furthermore, some dietary supplements, herbal treatments, and specific medications may also lead to cardiac arrhythmia. Overall, cardiovascular disease rises directly stimulate the demand for Cardiac Ablation Devices. The rising number of elderly patients will also transform healthcare delivery and create a greater demand for Cardiac Ablation Devices. Moreover, major MedTech companies are actively investing and increasing their manufacturing capacity for essential medical device products, including Cardiac Ablation Devices, to cater to the growing demand and grab the market share.
Despite several favorable factors, some of the key aspects, such as product recalls and unfavorable regulatory scenarios, are expected to hamper the Global Cardiac Ablation Devices market growth.
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Cardiac Ablation Devices Market Assessment and Forecast
As per the estimate, North America is anticipated to dominate the overall Cardiac Ablation Devices market in the coming years. Some of the key factors, such as the growing demand for advanced and minimally-invasive technologies and the increased cardiovascular disease in the region, are expected to drive the Cardiac Ablation Devices market. It is observed that heart disease is the leading cause of death for men, women, and people of most racial and ethnic groups. As per the estimate, in the United States, about 670,000 new cases of heart failure are diagnosed each year. Moreover, in 2020, about 6.2 million adults had heart failure. In addition, about 655,000 Americans die from heart disease yearly; that’s 1 in every 4 deaths. The leading cases are stimulating the demand for better and improved devices. Similarly, the rising geriatric population, the growing awareness, and the rise in the number of research and development activities to improve current technologies are also leading to the growth of Cardiac Ablation Devices in the region.
As per the assessment, Europe and Asia-Pacific region also have high growth potential for the Global Cardiac Ablation Devices market owing to the rising burden of cardiovascular disease (CVD) and chronic diseases;
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Cardiac Ablation Devices Market – Key Developments and Breakthroughs
Over the years, the Cardiac Ablation Devices market has evolved significantly, owing to the active participation of the global MedTech companies and technological advancements in the domain. Similarly, several clinical, commercial, and regulatory developments have also been registered in the domain. Some of the major advancements in the Cardiac Ablation Devices market in recent years include –
- In August 2021, the Stereotaxis and Shanghai Microport EP Medtech Co., Ltd. announced a broad collaboration to advance technology innovation and commercial adoption of robotics in electrophysiology in China. The agreement combines MicroPort EP’s commercial and product leadership in China’s electrophysiology market with Stereotaxis’ advanced Robotic Magnetic Navigation technology. MicroPort EP will also pursue regulatory approvals for Stereotaxis’ latest innovations, including the Genesis RMN® system and proprietary magnetic ablation catheter.
- In August 2021, Acutus Medical announced that its suite of new algorithms for the mapping and ablation of complex atrial arrhythmias received FDA clearance and CE mark approval.
- In June 2021, The FDA granted a new indication to a cryoballoon ablation catheter that allows it to be used as a first-line treatment for atrial fibrillation before antiarrhythmic drugs. Until the new indication for the catheter (Arctic Front Advance, Medtronic), catheter ablation was approved only for use in patients with atrial fibrillation who had failed antiarrhythmic drug therapy.
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Key Companies in the Cardiac Ablation Devices Market
Globally, some of the leading MedTech giants working in the Cardiac Ablation Devices market include Abbott Laboratories, Boston Scientific Corporation, Avanos Medical, Auris Health, Olympus, CONMED Corporation, ERBE ELEKTROMEDIZIN GMBH, AngioDynamics, Medtronic Inc., AtriCure, Inc., Biosense Webster, Teleflex Incorporated, St. Jude Medical, Lepu Medical Technology (Beijing), MicroPort Scientific Corporation, and others. Owing to the rising demand and favorable growth opportunities for revenue generation, several new players are anticipated to enter the market, thereby leading to high competitiveness in the domain.
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Scope of the Cardiac Ablation Devices Market Report:
- Study Period – 2020-2028
- Geography Covered – North America, Europe, Asia-Pacific, and Rest of the World
- Cardiac Ablation Devices Market Assessment –
- By Technology – Radiofrequency (RF) Ablation, Electrical Ablation, Cryoablation, Ultrasound Ablation, Microwave Ablation), Cardiac Ablation Devices
- By Product – Radiofrequency (RF) Ablators (Temperature-Controlled Radiofrequency Ablators, Fluid-Cooled Radiofrequency Ablators, Robotic Catheter Manipulation Systems), Electrical Ablators (Argon Plasma/Beam Coagulators, Irreversible Electroporation Systems), Cryoablation Devices (Tissue Contact Probes, Others), Ultrasound Ablators (High-Intensity Focused Ultrasound Ablators, Ultrasound Ablation Systems, Others), Microwave Ablators (Microwave Thermotherapy Devices)
- By Application – Cardiac Rhythm Management, Open Surgery, Others
- By End User – Hospitals, Cardiac Centers, Ambulatory Surgical Centers
- Porter’s Five Forces Analysis, Product Profiles, Case Studies, KOL’s Views, Analyst’s Views
Table of Content
1. Report Introduction
2. Executive Summary
3. Regulatory and Patent Analysis
4. Cardiac Ablation Devices Market Key Factors Analysis
5. Cardiac Ablation Devices Porter’s Five Forces Analysis
6. COVID-19 Impact Analysis on the Cardiac Ablation Devices Market
7. Cardiac Ablation Devices Market Layout
8. Cardiac Ablation Devices Global Company Share Analysis – Key 3–5 Companies
9. Cardiac Ablation Devices Product Profiles and Key Companies
10. Project Approach
11. KOL Views
12. DelveInsight Capabilities
14. About DelveInsight
DelveInsight is a leading Business Consultant and Market Research firm focused exclusively on life sciences. It supports Pharma companies by providing comprehensive end-to-end solutions to improve their performance. It also offers Healthcare Consulting Services, which benefits in market analysis to accelerate business growth and overcome challenges with a practical approach.
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