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Cardiac ablation market size to exceed $11bn by 2030

  • Published Date: July 13, 2022

Cardiac Ablation Market size is set to surpass USSD 11 billion by 2030, according to a new research report by Global Market Insights Inc.
 

The growing patient pool suffering from cardiovascular condition across the globe will drive market landscape. Adoption of an unhealthy lifestyle, excessive tobacco and alcohol intake, smoking habits, substance abuse, high caffeine consumption, and others will contribute towards the increase in prevalence of cardiac disorders. The growing consumption of tobacco among the population is one of the major impact rendering factors leading to escalating number of cardiac cases.
 

Rising incidence of cardiovascular disorders will boost the market size. According to the Centers for Disease Control and Prevention (CDC), around 12 million people in the U.S. will suffer from atrial fibrillation by the year 2030. As a result, the increasing patient burden will drive up demand for minimally invasive cardiac ablation operations.
 

Growing investment towards development of innovative products will create more growth opportunities for the industry. The increasing application of robotic technologies for the development and manufacturing of various products will spur the expansion of cardiac ablation sector. Additionally, significant presence of key market players in cardiac ablation business involved in the development of sophisticated technologies would foster the market trends.
 

Focused R&D activities resulting in development of innovative products in ablation industry will augment the cardiac ablation market revenue

Electrical ablators segment held over USD 300 million in 2021. The is attributed to increased R&D activity for devising advanced therapeutic procedures to treat chronic disorders. The continuous development in the field of surgical technologies over traditional treatments will fuel the market progression. Furthermore, healthcare infrastructure improvement, availability of innovative medical technology and trained healthcare professionals in several developed countries will impel the market statistics.
 

Lower risk in minimally invasive surgical procedures will boost the patient preference for cardiac ablation procedures

Open/surgical segment accounted for more than 25% revenue share in 2021 is set to register a significant CAGR through 2030. Majority of open surgical procedures are used to treat atrial fibrillation and other cardiovascular disorders. According to the Heart and Stroke Foundation, nearly 25% of all strokes occurring post age 40 years are caused due to atrial fibrillation indicating the high incidence rate of the underlying condition. Thus, the high prevalence rate of atrial fibrillation will require surgical procedure.
 

Expanding disease burden will augment the cardiac ablation market outlook

Tachycardia segment held around USD 290 million in 2021. This is owing to the availability of large patient pool suffering from tachycardia. According to the Centers for Disease Control and Prevention (CDC) data, tachycardia affects approximately one in every 300 people in the U.S., with elderly and female patients having highest prevalence rate. Cardiac ablation techniques aid in management of irregular heartbeats thereby addressing numerous issues experienced by patients suffering from tachycardia.
 

Browse key industry insights spread across 158 pages with 243 market data tables & 18  figures & charts from the report, “Cardiac Ablation Market Analysis By Product (Radiofrequency (RF) Ablators, Electrical Ablators, Cryoablation Devices, Ultrasound Ablators), Approach (Catheter-based, Open/surgical), Application (Atrial Fibrillation & Flutter, Tachycardia), End-use (Hospitals, Ambulatory Surgical Centers, Cardiac Centers), Industry Analysis Report, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2022 – 2030 in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/cardiac-ablation-market

 

Availability of advanced technologies and skilled professionals in healthcare settings will accelerate the cardiac ablation market demand

Ambulatory surgical centers segment acquired around 10% business share in 2021. This is due to the availability of advanced technologies and devices for treating patients suffering from cardiovascular diseases in ambulatory settings. Furthermore, there has been growing popularity of ambulatory surgical centers over recent years due to high preference for minimally invasive procedures with reduced-risk, convenience, and experienced personnel availability in this type of settings.
 

Expanding elderly population base in Europe will impel the market statistics

Europe cardiac ablation market is projected to witness 14.4% CAGR during the forecast period. The aging population residing in the region, that is more prone to suffer from variety of chronic diseases will stimulate the demand for cardiac ablation devices. However, improved patient awareness about recent technologies would add up to overall market value. Developed healthcare infrastructure, high adoption of innovative technologies, and rising disposable income will propel the regional market forecasts.
 

Acquisitions and product approvals will broaden industry players’ product offerings

The cardiac ablation industry consists of numerous market players. Few of the renowned players include Atricure, Abbott Laboratories, Medtronic, Biosense Webster (Johnson & Johnson), Boston Scientific Corporation, Biotronik, and Stereotaxis, among others. These industry players are adopting numerous growth strategies such as collaborations, acquisitions, partnerships, and product launches to expand their market footprint.
 

For instance, in January 2022, Medtronic completely acquired Affera, Inc. The acquisition broadened the company's cardiac ablation portfolio, including the manufacturing capability of cardiac mapping and navigation systems, along with catheter-based cardiac ablation devices. These cardiac ablation devices are currently used for treatment of patients suffering from cardiac arrhythmias (irregular heartbeats) such as atrial fibrillation (AF), thus resulting into company’s growth and business expansion.
 

Authors: Sumant Ugalmugle, Rupali Swain