Cardiac Ablation Market size is expected to reach USD 14 billion by 2032, as per a new research report announced by Global Market Insights Inc.
Increasing technological advancements in the field of cardiac ablation devices are among the key drivers behind market progress. Market players in the field are focusing on the development of cutting-edge technologies to provide precise treatments and better outcomes. The market growth is majorly driven by the rising product availability factor as increasing investments by industry players towards R&D efforts are resulting in frequent new product development as well as launches.
Low risk associated with laser catheter ablation to fuel others product segment growth
The others segment which includes laser, microwave, and thermal ablators is projected to gain over 26.5% of the market share till 2032. The short procedure time and low risk associated with laser catheter ablation of long-lasting atrial fibrillation is set to favor segment growth. Meanwhile, the irrigated microwave catheter ablation procedure is considered effective for deep ventricular lesion creation with fat penetration capability, fostering segment demand.
Advanced ablation technologies to impel the catheter-based approach segment growth
The catheter-based approach segment from cardiac ablation market accounted for the biggest revenue share of about 75% in 2022, driven by the consistent introduction of advanced ablation technologies. The growth can also be ascribed to an increase in the number of catheter-based ablation procedures. Catheter-based ablation for atrial fibrillation is regarded an effective and safe approach for patients who suffer from medication refractory, which is responsible for elevating the segment expansion.
Browse key industry insights spread across 175 pages with 243 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), Industry Analysis Report, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2023 – 2032” in detail along with the table of contents:
Growing prevalence of heart-related complications to bolster other application segment growth
The others segment, which includes heart attack, coronary artery or valve disease, and other heart-related complications, is likely to hold a 9% market share in 2032. Segment share is estimated to be driven by the rising prevalence of these diseases. According to US CDC, nearly 805,000 people in the US alone suffer a heart attack every year, with over 605,000 being the first instances.
High convenience factor to fuel ambulatory surgical centers end-use segment share
Cardiac ablation market from ambulatory surgical centers (ASCs) segment held a revenue share of more than USD 430 million in 2022. The segment is poised to witness notable growth on account of the rapidly growing popularity of ASCs among patients. Determinants such as high preference for minimally invasive surgical procedures, reduced-risks involved, convenience, and better availability of experienced personnel is influencing the patient inclination towards ASCs, fostering segment outlook.
Rising incidence rate of cardiac arrhythmia to augment APAC market size
Asia Pacific cardiac ablation market is slated to hit USD 3 billion through 2032, owing to the rising occurrences of cardiovascular ailments in the region. According to World Heart Federation, cardiovascular diseases account for approximately one-third of all deaths in South-East Asia, causing more than 4 million mortalities every year. The segment growth can also be ascribed to the increasing prevalence of cardiac arrhythmia in the region.
Frequent product development to outline market competitive landscape
The list of industry players in the cardiac ablation industry includes names such as Abbott Laboratories, Angiodynamics, Atricure, Medtronic, and Boston Scientific Corporation, among others. A common strategy these firms use is of frequent product launches, wherein they invest heavily towards novel product development.