Cardiac Mapping Market Growing at a CAGR of 8.7% – Growth in the Geriatric Population

PUNE, Country, 2021-Jun-15 — /EPR Network/ — The report “Cardiac Mapping Market by Product (Contact Mapping Systems (Electroanatomical Mapping, Basket Catheter Mapping), Non-contact Mapping Systems), Indication (Atrial Fibrillation, Atrial Flutter, AVNRT), Region – Global Forecast to 2024″, is expected to reach USD 2.1 billion by 2024 from USD 1.4 billion in 2019, at a CAGR of 8.7%.

The inclusion of new entrants in the market, growing investments, funds, and grants, increasing incidence of target diseases, and growth in the geriatric population are the key drivers of the cardiac mapping systems market.

Market Size Estimation;

Both top-down and bottom-up approaches were used to estimate and validate the total size of the cardiac mapping market. These methods were also used extensively to determine the extent of various subsegments in the market. The research methodology used to estimate the market size includes the following:

– The key players in the industry and markets have been identified through extensive secondary research

– All percentage shares, splits, and breakdowns have been determined using secondary sources and verified through primary sources

Data Triangulation;

After arriving at the overall market size-using the market size estimation processes as explained above-the market was split into several segments and subsegments. To complete the overall market engineering process and arrive at the exact statistics of each market segment and subsegment, the data triangulation, and market breakdown procedures were employed, wherever applicable. The data was triangulated by studying various factors and trends from both the demand and supply sides in the cardiac mapping industry.

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The contact cardiac mapping segment is projected to grow at the highest rate during the forecast period;

By product, the cardiac mapping market is segmented into contact cardiac mapping (electroanatomical mapping, basket catheter mapping, traditional endocardial mapping) and non-contact cardiac mapping. The contact cardiac mapping segment is expected to witness the fastest growth during the forecast period. Advantages offered by contact cardiac mapping, such as detection of the precise locations of mapping and ablation catheters in a three-dimensional environment, also with multi-electrode basket catheter, recording just a few beats might be enough to uncover the arrhythmia circuit; these factors are increasing its adoption. Consequently, the demand for cardiac mapping devices for diagnosing complex arrhythmias is also growing.

Atrial fibrillation held the largest share of the cardiac mapping systems market in 2019;

Cardiac mapping is used widely for the identification, characterization, and localization of an arrhythmia. The cardiac mapping systems indication market is segmented into atrial fibrillation, atrial flutter, atrioventricular nodal reentry tachycardia (AVNRT), other arrhythmias. The atrial fibrillation segment held the largest share of the market in 2019, a trend that is expected to continue during the forecast period. The large share of this segment can primarily be attributed to the rising incidences of AF throughout the globe.

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North America held the largest share of the market in 2019 and is projected to continue to do so during the forecast period. Factors such as the increase in approval rate of mapping systems and clinical trials validating cardiac mapping systems in the US, high incidence of CVDs, growing focus of government organizations on providing funding for research, and increasing geriatric population in Canada are driving the North American cardiac mapping systems market.

Key Market Players;

The major vendors in the cardiac mapping market include Biosense Webster (US), Abbott (US), and Boston Scientific Corporation (US). These leading players offer a strong suit of products for cardiac mapping and have a broad geographic presence. The other players in this market include Medtronic (Ireland), MicroPort Scientific Corporation (China), EP Solutions SA (Switzerland), Acutus Medical (US), Koninklijke Philips N.V. (Royal Philips) (Netherlands), Lepu Medical (China), BIOTRONIK (Germany), AngioDynamics (US), BioSig Technologies (US), APN Health (US), CoreMap (US), Kardium (Canada), Catheter Precision (US), and Epmap-System (Germany).