The global cardiac ablation technologies market size is expected to exceed US$ 8,184 Million by 2026, the market is estimated to grow at 11.4% CAGR during the forecast period. Growing geriatric population coupled with increasing population base of cardiovascular disease patients is one of the factors that is expected to boost the growth of the global cardiac ablation technologies market.
Radiofrequency ablation process is a well-known method that are implemented with high focus on safety and efficiency that leads to increase in adoption of cardiac ablation technologies. Cardiac ablation is a least intrusive process that helps in destroying the affected heart tissue. These cardiac ablation devices provide low obstacle rates and great technical success, leading to better quality of life for the cardiac patients. Also, these cardiac ablation devices are the effective substitutes for the invasive techniques. This procedure uses advanced medical technology to reach to the internal tissues through small slits, which cause less infection, less pain, and faster recovery time, and reduced blood loss. These are the major driving forces factors that are anticipated to drive the growth of global cardiac ablation technologies market in the upcoming years. Also, constant participation of key vendors in replacing the current cardiac ablation products by investing on research and development activities are further expected to propel the growth of cardiac ablation technologies market.
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Atrial fibrillation is the one of the most frequently occurring heart beat disorder. There are various heart rhythm disorders that consist ofWolff-Parkinson-White syndrome, tachycardia, and atrial flutter. In the U.S., 75% of the patients of around 65 years of age or more are suffering from atrial fibrillation (AF). This specifies that there is a rise in the aged population which is estimated to boost theoccurrence of atrial fibrillation (AF). Therefore, the rise in the occurrence rate of atrial fibrillation is generating a significant impact across the globe, which, in turn, is expected to propel the demand for cardiac ablation technologies.
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 radiofrequency, 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.
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North America and Europe region are expected to hold major share of the global cardiac ablation technologies market.
High prevalence of various heart rhythm disorders such as atrial fibrillation, tachycardia, and atrial flutter, and the huge presence of elderly population that are more prone to heart diseases are fuelling the demand for cardiac ablation technologies in North America region. The cardiac ablation technologies market in Asia Pacific region is expected to expand at a higher CAGR during the forecast period. The surge in incidence of atrial fibrillation (AF) and other heart rhythm diseases are projected to fuel the cardiac ablation technologies market in the region during the forecast period. Furthermore, the manufacturing cost in developing countries such as China and India is low which creates incremental growth opportunities and results in increased production facilities that attracts global players from across the globe.
The prominent players in the global cardiac ablation technologies market are Medtronic Plc, St. Jude Medical, Inc. (Abbott), Olympus Corporation, Stryker Corporation, Alcon Laboratories Inc., MicroPort Scientific Corporation, Boston Scientific Corporation, CardioFocus Inc., and Biosense Webster, Inc. (Johnson & Johnson), Advanced Cardiac Therapeutics, 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. These companies have established their competitive position in the cardiac ablation technologies market and are able to expand their customer base globally. Moreover, the entry of local players, especially in the developing markets of Asia Pacific, is being observed. However, the strict government regulations and standards followed by key participants are estimated to restrain the penetration of new players in the global cardiac ablation technologies market.
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