The global cardiac ablation technologies Market is project worth US$ 3,450.5 Million in 2017 and the market is projected to showcase 11.4% CAGR during the forecast period. The cardiac ablation technologies market is driven by rising incidence of atrial fibrillation and technological advancement.
Rising prevalence of atrial fibrillation and increase in adoption of cardiac ablation technologies for the treatment of atrial fibrillation are the driving factors boosting the growth of the cardiac ablation technologies market. Also, increase in patient preference for minimally invasive surgeries and technological advancement creates demand for cardiac ablation technologies which is bolstering the growth of the global cardiac ablation technologies market.
There is huge presence of elderly population in developed countries such as the U.S, and most countries of Europe, and Japan. Developed countries are witnessing high rate of aging as compared to developing nations. This factor is contributing to the rise in improved healthcare infrastructure, favourable government norms, and technological advancements in healthcare facilities in these developed countries. Additionally, ease of access to several diagnostic services has developed in the recent years, particularly in developed countries. This, in turn, has improved the life expectancy of the population in these countries. The aged population are the target user of cardiac ablation technologies as there is higher risk of increasing cardiac diseases.
The global cardiac ablation technologies market is segmented into technology type, application and region. On the basis of technology type, the global cardiac ablation technologies market is segmented into radio frequency, cryoablation, laser, ultrasound, microwave, and others. On the basis of application, the global cardiac ablation technologies market is segmented into atrial fibrillation, ventricular tachycardia, and others. On the basis of region the global cardiac ablation technologies market is segmented into North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. Based on technology type, the radiofrequency segment accounted for around 50% share of the global market. The radiofrequency ablation procedure is a well-known procedure that offers high safety and efficiency that leads to higher adoption of these technologies. Moreover, it is a least invasive procedure that has low risk and less pain and is easy to perform which is further contributing to the growth of global cardiac ablation technologies market.
Increase in patient preference for minimally invasive surgeries and technological advancement creates demand for cardiac ablation technologies which is one of the key factor for the growth of the cardiac ablation technologies market. North America is anticipated to hold major share of the global market, due to higher adoption of cardiac ablation technologies and increase in medical expenditure. Europe is predicted to account for a significant share of the global market during the forecast period. Increase in incidence of atrial fibrillation and other heart diseases is projected to fuel the market growth in the region. The market in Asia Pacific region is expected to grow at a rapid pace due to the rise in healthcare expenditure.
The major players associated with the cardiac ablation technologies market are Medtronic Plc, St. Jude Medical, Inc. (Abbott), Stryker Corporation, MicroPort Scientific Corporation, Boston Scientific Corporation, CardioFocus Inc., and Biosense Webster, Inc. (Johnson & Johnson),and CONMED Corporation etc. The key players in the cardiac ablation technologies market are constantly focusing on research and development in order to expand their product portfolio and increase their customer base in developing regions.Key manufacturers invests heavily in research and development to manufacture low weighting, fuel efficient and innovative cardiac ablation technologies models. Additionally, players associated with the global cardiac ablation technologies market are focusing mainly on merger and acquisition and developing strategic partnerships with other players in order to expand their product portfolio and to increasethe market share.
Market By Technology Type
Market By Application
Market By Geography