Cardiac Ablation Devices Market Outlook 2031
The global cardiac ablation devices market size was valued at USD XX Billion in 2022 and is projected to reach USD XX Billion by 2031, expanding at a CAGR of XX% during the forecast period 2023 - 2031. The growth of the market is attributed to the rising prevalence of cardiovascular diseases.
Cardiac ablation is a surgical procedure that requires correction of rhythmic problems of the heart. The procedure includes scarring and deterioration of tissues that causes heart rhythm abnormality. In certain cases, cardiac ablation can help to avoid an arrhythmia. This is done by preventing irregular electrical signals to enter into the patient's heart.
Cardiac ablation involves inserting long, flexible tubes called catheters into a vein or artery, which delivers energy in a form of heat or cold to the tissues in the heart that triggers an arrhythmia. Increasing number of patients suffering from cardiovascular diseases such as arrhythmia is expected to drive the demand for cardiac ablation devices in the coming years.
According to the World Health Organization (WHO), around 17 million people die each year from cardiovascular diseases. Out of the total death count, heart attacks account for nearly 85 percent of deaths.
Cardiac Ablation Devices Market Drivers, Restraints, Trends, and Opportunities
Rising number of people with cardiac arrhythmia and growing geriatric population are the driving the cardiac ablation devices market growth.
Increasing preference for minimally invasive surgeries and rising awareness regarding cardiac ablation devices are anticipated to spur the cardiac ablation devices market growth.
Growing number of ablation centers is speculated to boost the cardiac ablation market.
Stringent regulations and risks related to cardiac ablation procedures can hamper the market opportunities during the forecast period.
Scope of Cardiac Ablation Devices Market Report
The report on the global cardiac ablation devices market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
Cardiac Ablation Devices Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
Products (Radiofrequency (RF) Ablators, Electrical Ablators, Cryoablation Devices, Ultrasound Ablators), Applications (Tachycardia, Open Surgery, and Cardiac Rhythm Management), and End-users (Hospitals, Ambulatory Surgical Centers, Clinics, and Others)
Asia Pacific, North America, Latin America, Europe, and Middle East & Africa
Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
Key Players Covered in the Report
Epix Therapeutics, Acutus Medical, Medtronic, AtriCure, Inc., Biosense Webster, Inc., St Jude Medical, and Abbott
Global Cardiac Ablation Devices Market Segment Insights
Electric ablators segment to account a large market share
Based on products, the cardiac ablation devices market share is segmented into cryoablation devices, radiofrequency ablators, ultrasonic ablators, and electrical ablators. In 2020, electric ablators segment to account for a large market share during the forecast period. Argon plasma/beam coagulators and irreversible electroporation devices are two types of electric ablators. Increasing number of R&D activities is driving the growth of the market segment.
Cardiac rhythm management segment to account for key market share
In terms of applications, the cardiac ablation devices market share is segmented into tachycardia, open surgery, and cardiac rhythm management. The cardiac rhythm management to account for a key market share during the forecast period. Cardiac rhythm management devices are commonly used to treat heart disease and heart rhythmic disorders.
Hospitals segment to dominate the market
On the basis of end-users, the market is classified as hospitals, ambulatory surgery centers, clinics, and others. In 2020, the hospital segment accounted for more than USD 1.5 billion in revenue. The presence of modern healthcare infrastructure and trained clinicians improve procedural adoption rates in the hospitals. The availability of latest technology in hospitals is driving the growth of the market segment.
North America to dominate the market
Based on regions, the market is segregated into Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. In 2020, North America held a large market share owing to the rising healthcare expenditure, increasing disposable income, and the availability of latest technology are contributing to the regional market growth.
North America is expected to dominate the market during the forecast period owing to the rising prevalence of cardiac arrhythmias, established healthcare infrastructures, high volumes of catheterization, increasing government funding, and growing patient awareness in countries such as the US and Canada.
The global cardiac ablation devices market has been segmented based on
- Radiofrequency (RF) Ablators
- Electrical Ablators
- Cryoablation Devices
- Ultrasound Ablators
- Open Surgery
- Cardiac Rhythm Management
- Ambulatory SurgicalCcenters
- Asia Pacific
- North America
- Latin America
- Middle East & Africa
Some of the leading manufacturers in the global cardiac ablation devices market are Epix Therapeutics, Acutus Medical, Medtronic, AtriCure, Inc., Biosense Webster, Inc., St Jude Medical, Abbott.
Companies are focusing on providing advanced technology devices to hospitals and clinics for the treatment of patients suffering from arrhythmia.