According to the Fact.MR report, the global cardiac ablation technologies market is expected to reach US$ 15,007.95 Mn by 2032, with a staggering 11.8% CAGR from 2022 to 2032. The demand for cardiac ablation technologies is primarily being driven by an increase in surgical procedures for the treatment of atrial fibrillation.
Sales of devices utilising cardiac ablation technology increased by 11.1% in terms of value CAGR from 2017 to 2021. By the end of the aforementioned historical period, the market had a value of US$ 4,427.89 Mn. Given the detrimental impact of the illness on the circulatory system, prospects were largely unaffected during the peak of the COVID-19 pandemic.
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Atrial fibrillation is thought to affect between 2.7 million and 6.1 million people in the United States, according to the Centers for Disease Control and Prevention (CDC). It also emphasises the fact that atrial fibrillation was listed as the underlying cause of death in 26,077 of the 166,793 deaths in the United States for which death certificates were issued. These figures highlight the rising incidence of atrial fibrillation and suggest a healthy market growth turnover for cardiac ablation technology.
Important conclusions from the market study
· By 2022, the market for cardiac ablation technologies will be worth US$4,919.35 million.
· Radiofrequency cardiac ablation is the most profitable technology by far.
· The main application area for cardiac ablation technologies will continue to be atrial fibrillation.
· Asia Pacific will be a highly opportunistic market, accounting for 40% of global revenue in cardiac ablation technologies, with North America accounting for 37% of that figure.
· The Food and Drug Administration's speedy approvals have accelerated market expansion.
· Growth during the forecast period is likely to be boosted by rising cancer incidences and cardiac conditions, as well as technological advancements in ablation products and technologies.
· Geriatric population growth is anticipated to support market expansion. According to the World Health Organization, there will be 1.5 billion people who are 65 years of age or older by 2050.
· The development of the cardiac ablation technology market is anticipated to benefit from advances in technologies like multi-electrode ablation catheters and balloon-mounted technologies.
· To save money on healthcare and reduce exposure, the growth of cardiac ablation procedures was restrained at the height of the Covid-19 pandemic.
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Leading players are embracing novel strategies like cutting-edge marketing strategies, technological developments, mergers, and acquisitions.
· The Johnson & Johnson Company announced the CARTO VIZIGO bi-directional guiding sheath's release on the American market in 2018. Electrophysiologists can lessen their reliance on fluoroscopy with the aid of this product.
· Boston Scientific and Baylis Medical Company Inc. entered into a binding contract in October 2021 with the purchase price of $1.75 billion up front, subject to closing adjustments. The radiofrequency (RF) NRG® and VersaCross® Transseptal Platforms, as well as a family of guidewires, sheaths, and dilators used to support left heart access, will be added to Boston Scientific's portfolio of electrophysiology and structural heart products as a result of the acquisition.
Key Companies Profiled by Fact.MR
- Boston Scientific Corporation
- Biosense Webster Inc.
- Johnson & Johnson
- Medtronic Plc.
- MicroPort Scientific Corporation
- CardioFocus Inc.
- St. Jude Medical, Inc. (Abbott)
- Stryker Corporation
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Key Segments Covered in Cardiac Ablation Technologies Industry Report
- By Technology Type :
- Radiofrequency Cardiac Ablation
- Ultrasound Cardiac Ablation
- Cryoablation Cardiac Ablation
- Microwave Cardiac Ablation
- Laser Cardiac Ablation
- Other Cardiac Ablation Technologies
- By Application :
- Cardiac Ablation for Atrial Fibrillation
- Cardiac Ablation for Ventricular Tachycardia
- Cardiac Ablation for Other Applications
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