According to the new market research report ” Cardiac Ablation Market (Types – Catheter Ablation, Hybrid Surgical-catheter Ablation, and Surgical Ablation; Application – Cardiac Rhythm Management, Open Surgery, and Other Applications; End User – Hospitals, Ambulatory Surgical Centers, and Specialty Clinics): Global Industry Analysis, Trends, Size, Share and Forecasts to 2025”. The global cardiac ablation market is projected to grow at a CAGR of 12.4 % over the forecast period of 2019-2025. The market size of the cardiac ablation market in 2017 was approximately USD 1 billion and is expected to reach over USD 2.4 billion during the forecast period.
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Cardiac Ablation Market: Insights
Cardiac ablation is a procedure to destroy tissues in the heart that causes abnormal heart rhythm. Catheter ablation, hybrid surgical catheter ablation, and surgical ablation are various types of cardiac ablation. Cardiac ablation is applicable in cardiac rhythm management, open surgery and in different other applications. Cardiac ablation is a non-invasive procedure that is helpful for the patient.
What are the Major Market Drivers of the Cardiac Ablation Market?
The increasing number of people with cardiac arrhythmia drives the growth of the cardiac ablation market. Factors such as increasing geriatric population, rising healthcare awareness, and increasing demand for non-invasive procedures stimulate the growth of cardiac ablation market. There are around 2.7 to 6.1 million people in the U.S. suffering from atrial fibrillation.
What are the Cost and Revenue Drivers of Cardiac Ablation Industry?
The geriatric population is more prone to have irregular heartbeat disorders. In addition, cardiac ablation offers quick patient recovery that promotes the growth of the cardiac ablation market. On the other hand, the lack of skilled medical professionals hampers the growth of the cardiac ablation market. Moreover, technological advancements create numerous opportunities for the cardiac ablation market.
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What are the Different Segments in the Cardiac Ablation Market?
The cardiac ablation market is segmented on the basis of type, application, and end user. The type segment of the cardiac ablation market is classified into catheter ablation, hybrid surgical catheter ablation, and surgical ablation. Based on the application, the cardiac ablation market is divided into cardiac rhythm management, open surgery, and other applications. On the basis of the end users, the cardiac ablation market is divided into hospitals, ambulatory surgical centers, and specialty clinics. The hospital segment is expected to be dominant in the cardiac ablation market.
Which Region is a Market Leader in the Global Cardiac Ablation Market and What are the Key Reasons?
Geographically, North America is anticipated to have a larger share in the cardiac ablation market. North America has a well-established healthcare infrastructure. In addition, rising demand for minimally invasive medical procedures contributes to the growth of the cardiac ablation market. Asia-Pacific region is expected to grow in the cardiac ablation market. Rising healthcare awareness and increasing cardiovascular diseases contribute to the growth of the cardiac ablation market. The growing medical tourism in Asian countries promotes the growth of the cardiac ablation market.
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What are the Market Major Key Players and the Regions of the Cardiac Ablation Industry?
The leading players in the cardiac ablation market are Abbott Laboratories, Advanced Cardiac, Therapeutics, Inc., St. Jude Medical, Inc., Medtronic plc, Olympus Corporation, EPIX Therapeutics, Inc, Biosense Webster, Inc., Boston Scientific Corporation, CONMED Corporation, and AngioDynamics, Inc. The companies are focusing on mergers and acquisitions to expand their market share. In 2019, Abbott Laboratories acquired Cephea Valve Technologies, Inc. that provides catheter delivered mitral valve regurgitation products.