November 25, 2020
According to the research report titled ‘Cardiac Ablation Market Size By Product, By Application, By End-use, Industry Analysis Report, Regional Outlook, Application Potential, Price Trends, Competitive Market Share & Forecast, 2020 - 2026‘, available with Market Study Report, global cardiac ablation market is anticipated to witness notable growth during 2020-2026.
Increasing cases of cardiovascular diseases such as cardiac arrhythmias, patient preference for minimally invasive procedures, and technological developments are majorly fueling the global cardiac ablation market growth. However, strict regulations as well as high risk associated with cardiac ablation procedure are likely to hamper the industry growth in coming years.
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Based on the product spectrum, global cardiac ablation market is classified into ultrasound ablators, electrical ablators, radiofrequency (RF) ablators, cryoablation devices, and others. Among these, electric ablators segment is poised to amass modest revenues in the coming years, as they ensure momentary intra-cardiac sensing, recording, stimulation, and mapping, which is minimally invasive.
Speaking of application terrain, worldwide cardiac ablation market is classified into open surgery, cardiac rhythm management, and others. Among them, the cardiac rhythm management segment is poised to witness significant gains owing to increasing prevalence of atrial fibrillation among the geriatric population that requires treatments to control heart rate and reduce the risk of stroke. Further, several procedures like cardioversion, to restore normal heart rhythm is driving the segmental growth.
With respect to end-use spectrum, global cardiac ablation industry is bifurcated into cardiac centers, hospitals, ambulatory surgical centers, and others. The other end-use segment consists of electrophysiology labs and catheterization labs.
From a regional point of view, LATAM cardiac ablation market is expected to experience significant growth over forecast period, with Brazil being the major contributor, mainly due to the increasing awareness regarding cardiac ablation procedures among individuals in the region. Rising incidences of cardiovascular diseases caused due to tobacco consumption, hypertension, obesity, and diabetes, will bolster the market growth in LATAM.
Major players influencing global cardiac ablation market trends are AngioDynamics Inc., Boston Scientific Corporation, Medtronic plc, Stereotaxis Inc., Biosense Webster Inc. (Johnson & Johnson), Abbott Laboratories (St. Jude Medical), Japan Lifeline Co. Ltd., MicroPort Scientific Corporation, AtriCure Inc., and Biotronik SE & Co. KG.