Growth In Sales of Cardiac Ablation Technologies Market To Push Revenue Growth In Market : Fact.MR

The cardiac ablation technologies market refers to the industry that produces and sells medical devices used to treat abnormal heart rhythms, also known as cardiac arrhythmias. Cardiac ablation is a minimally invasive procedure that uses heat or cold energy to destroy small areas of heart tissue that are causing the irregular heartbeat. The global market for cardiac ablation technologies is driven by several factors, including the increasing prevalence of cardiovascular diseases, rising demand for minimally invasive procedures, and advancements in technology that have made these procedures safer and more effective.

There are several types of cardiac ablation technologies available in the market, including radiofrequency ablation, cryoablation, laser ablation, and microwave ablation. These technologies are used to treat various types of arrhythmias, including atrial fibrillation, ventricular tachycardia, and supraventricular tachycardia.

The cardiac ablation technologies market is highly competitive, with several major players operating in the space. Some of the key companies in the market include Boston Scientific Corporation, Abbott Laboratories, Medtronic plc, Biosense Webster, Inc. (a Johnson & Johnson company), and St. Jude Medical, Inc. (a subsidiary of Abbott Laboratories). These companies are investing in research and development to introduce new and innovative products and are also engaging in strategic partnerships and collaborations to expand their market reach.

According to a report by Grand View Research, the global cardiac ablation technologies market was valued at $4.2 billion in 2020 and is projected to reach $7.5 billion by 2028, growing at a CAGR of 7.5% during the forecast period. North America is expected to dominate the market due to the high prevalence of cardiovascular diseases and advanced healthcare infrastructure in the region, while the Asia-Pacific region is expected to grow rapidly due to the increasing adoption of advanced cardiac ablation technologies and rising healthcare expenditure in the region

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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

Key Takeaways of Cardiac Ablation Technologies Market Study

• Adoption of radiofrequency is projected to add significant revenue share of around 55% to the cardiac ablation technologies market by 2026, while laser technology would witness the highest adoption rate, considering its high precision rate and better outcomes.
• Application of cardiac ablation technologies for treatment of atrial fibrillation is projected to grow by 10% in 2020, over 2019, as it is a common disorder affecting electrical impulses in the atria.
• Introduction of hybrid surgical-catheter ablation aids electrophysiologists in performing heart surgeries with minimal invasion, thereby encouraging patients to undergo surgeries. Advent of robotic technologies is intended at offering increased safety and accuracy to the cardiac ablation process, which is expected to herald high sales opportunities to players in the cardiac ablation technologies market.

• North America is an early adopter of new technologies, more so in the healthcare domain. Furthermore, availability of healthcare reimbursement schemes makes the purchase of advanced medical products easy for medical professionals. On the back of a circular demand and supply scenario, North America is projected to lead the global cardiac ablation technologies market with an estimated share of 40% during the forecast period.

Key Companies Profiled

• Boston Scientific Corporation
• Biosense Webster Inc.
• Johnson & Johnson
• Medtronic Plc.
• MicroPort Scientific Corporation
• CardioFocus Inc.
• St. Jude Medical, Inc. (Abbott)
• Stryker Corporation

Competitive Landscape

• The Johnson & Johnson Company announced the CARTO VIZIGO bi-directional guiding sheath’s release on the American market in 2018. This item aids electrophysiologists in lessening their reliance on fluoroscopy.
• 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.