Cardiac Ablation Market size is set to surpass USD 8.4 billion by 2028, according to a new research report by Global Market Insights, Inc.
Growing patient pool among numerous countries will positively influence the market growth in the coming years. The growth is owing to adoption of unhealthy lifestyle, excessive alcohol and tobacco consumption, smoking habits, drug abuse, high caffeine intake, and dietary supplements. Furthermore, several chronic diseases such as diabetes mellitus, hypertension, mental stress, hyperthyroidism will develop arrythmia thereby, stimulating demand for cardiac ablation procedures. Moreover, increasing prevalence of several cardiovascular diseases will propel the industry growth.
Increasing technological advancements in cardiac ablation industry will further create ample growth opportunities. Growing usage of robotic technologies in the development and manufacturing of several products will enhance the market demand. Introduction of microwave ablation procedures to treat atrial fibrillation will fuel the overall industry expansion. Additionally, strong presence of key market players in the business that are involved in development of advanced technologies will spur the market value. In addition, improving healthcare infrastructure and growing acceptance of cardiac ablation procedures over conventional surgical procedures will impel the business growth during the forecast timeline.
Rising R&D activities and innovative product developments in ablation systems will boost the market expansion
Cardiac ablation market for cryoablation device segment captured USD 100 million in 2021 led by the growing R&D activities for advanced therapeutic procedures to treat chronic diseases. Continuous advancements in surgical technologies over the conventional procedures will foster the segment growth.
Lower risk in minimally invasive surgical procedures will drive the patient preference towards cardiac ablation procedures
Open/surgical segment in the cardiac ablation market accounted for more than 25% of revenue share in 2021. Open surgical procedures are mainly used to treat atrial fibrillation and other cardiovascular diseases. Additionally, high patient inclination towards minimally invasive surgical procedures will offer ample segment expansion opportunities.
Browse key industry insights spread across 151 pages with 244 market data tables & 17 figures & charts from the report, “Cardiac Ablation Market Size By Product (Radiofrequency (RF) Ablators, Electrical Ablators, Cryoablation Devices, Ultrasound Ablators), By Approach (Catheter-Based, Open/Surgical), By Application (Atrial Fibrillation & Flutter, Tachycardia), By End-use (Hospitals, Ambulatory Surgical Centers, Cardiac Centers), COVID-19 Impact Analysis, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2022 – 2028” in detail along with the table of contents:
Rising disease burden worldwide to augment the market progression
Cardiac ablation market for tachycardia segment valued at USD 297 million in 2021 due to the presence of large patient pool suffering from tachycardia. Furthermore, cardiac ablation procedures help to control increasing heartbeats and several complications in patients. These factors will propel the customer preference towards cardiac ablation procedures. Therefore, higher usage of technology and preference will accelerate to the segment progression in the coming years.
Availability of advanced technologies and skilled professionals in the healthcare settings will impel demand for the market
The ambulatory surgical centers segment held 11% of the market share in 2021. Developing healthcare infrastructure and availability of innovative technology as well as advanced devices and equipment for cardiovascular disease treatment in ambulatory settings will boost the segment demand. Also, rising patient preference for ambulatory surgical centers owing inclination towards minimally invasive procedures, lower risk surgeries, primary treatments with better convenience and skilled professionals. Adding to this, favorable reimbursement scenario and cost-effective treatments in centers among several nations will accelerate the demand for ambulatory surgical centers in the market.
Growing elderly population in the region will create growth opportunities for the market
Europe cardiac ablation market is projected to witness a 14.3% growth rate through 2028 on account for the increasing aging population in the region that are susceptible to several chronic cardiovascular diseases. Moreover, rising awareness about advanced technologies among patient base will contribute to the overall industry progression. Developed healthcare infrastructure, adoption of advanced technologies, rising per capita income in the region will stimulate the market revenue.
Acquisitions and product approvals will broaden company’s product offerings
Major players operating in the market are Abbott Laboratories (St. Jude Medical), AtriCure Inc, Biosense Webster (Johnson & Johnson), Biotronik SE & Co. KG, Boston Scientific Corporation, Medtronic plc, and Stereotaxis Inc. These leaders are adopting numerous growth strategies such as collaborations, acquisitions, partnership, and product launch to expand their market footprints.