Enjoy complimentary customisation on priority with our Enterprise License!
The cardiac ablation market share is expected to increase by USD 1.67 billion from 2020 to 2025, and the market’s growth momentum will accelerate at a CAGR of 7.51%.
This cardiac ablation market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers cardiac ablation market segmentations by product (cardiac ablation catheters and cardiac ablation devices) and geography (North America, Europe, Asia, and ROW). The cardiac ablation market report also offers information on several market vendors, including Abbott Laboratories, AngioDynamics Inc., AtriCure Inc., Boston Scientific Corp., CONMED Corp., DVx Inc., Imricor Medical Systems Inc., Johnson and Johnson Inc., Medtronic Plc, and Olympus Corp. among others.
Download Report Sample to Unlock the Cardiac Ablation Market Size for the Forecast Period and Other Important Statistics
Based on our research output, there has been a positive impact on the market growth during and post COVID-19 era. The rising incidence of cardiac diseases and growth of insurance providers is notably driving the cardiac ablation market growth, although factors such as high cost of related products may impede market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the cardiac ablation industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Cardiac Ablation Market Driver
The rising incidence of cardiac diseases and the growth of insurance providers is one of the key factors driving the growth of the global cardiac ablation market. In the Americas, the US occupies the major market share owing to the increasing incidence of cardiac diseases. Statistical data by CDC about cardiac diseases in the US. For instance, CDC estimated that these diseases are accounted for about 655,000 deaths in the US every year. The agency also suggested that coronary heart disease was the most common cardiac disease, causing 375,000 deaths in the US annually. Physicians diagnose and recommend surgeries based on the stage of the disease. Similarly, to track the increasing number of heart disease cases, the US government initiated the Million Hearts plan under the ACA. The plan focuses on preventing one million heart attacks by 2017. To provide better treatment, the government offers reimbursement plans, which cover the treatment cost. This will encourage people to opt for early treatment plans, such as cardiac ablation.
Key Cardiac Ablation Market Trend
The marketing and sales strategies for cardiac ablation will fuel the global cardiac ablation market growth. The global cardiac ablation is a competitive and concentrated market to capture the cutting edge benefits of market revenue the competitors in the field are adopting several marketing strategies. For instance, in September 2020, Boston Scientific Corporation announced an investment agreement with an exclusive option to acquire Farapulse, Inc., a privately held company developing a pulsed field ablation system for the treatment of atrial fibrillation and other cardiac arrhythmias. Similarly, in January 2019, Medtronic plc announced a definitive agreement to acquire EPIX Therapeutics, Inc. (EPIX), a privately held medical device company that manufactures a novel, catheter-based, temperature-controlled cardiac ablation system for the treatment of cardiac arrhythmias, including atrial fibrillation. Also, in May 2019, Varian, a radiation oncology company acquired the start-up company Cyber health, which has developed cardiac radio-ablation technology to use radiation therapy in the heart and other forms of radiosurgery for cardiovascular diseases. Such factors will grow the market during the forecast period.
Key Cardiac Ablation Market Challenge
The high cost of related products is a major challenge for the global cardiac ablation market growth. The total cost of catheter ablation procedures in developed countries such as the US and Canada ranges from $17,400 to $23,000. The average cost of medication is $982. Moreover, for cardiac ablation, end-users such as hospitals, clinics, ASCs, and diagnostic or cath labs are required to purchase various types of devices, which increases the cost burden on them. Similarly, the high cost of imaging modalities for diagnosis and perioperative procedure can decrease the adoption of cardiac ablation products and hinder market growth. Medical institutions need to consider various procurement processes and budget allocation considerations before purchasing such devices. The use of catheter ablation for treating arrhythmias has increased the demand for advanced devices that can help improve the safety and effectiveness of related procedures. However, most of these devices enabled with technologies such as 3D mapping and remote catheter navigation are expensive. This deters individuals, particularly in developing countries, from undergoing catheter ablation procedures. In the US, the average cost of a cardiac ablation system ranges from $15,000 to $24,000.
This cardiac ablation market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2021-2025.
Technavio categorizes the global cardiac ablation market as a part of the global healthcare equipment market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the cardiac ablation market during the forecast period.
The report analyzes the market’s competitive landscape and offers information on several market vendors, including:
This statistical study of the cardiac ablation market encompasses successful business strategies deployed by the key vendors. The cardiac ablation market is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market.
To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The cardiac ablation market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Our report provides extensive information on the value chain analysis for the cardiac ablation market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
The value chain of the global healthcare equipment market includes the following core components:
The report has further elucidated on other innovative approaches being followed by service providers to ensure a sustainable market presence.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Five Forces Analysis
5 Market Segmentation by Product
6 Customer landscape
7 Geographic Landscape
8 Drivers, Challenges, and Trends
9 Vendor Landscape
10 Vendor Analysis
11 Appendix
Get lifetime access to our
Technavio Insights
Quick Report Overview:
Cookie Policy
The Site uses cookies to record users' preferences in relation to the functionality of accessibility. We, our Affiliates, and our Vendors may store and access cookies on a device, and process personal data including unique identifiers sent by a device, to personalise content, tailor, and report on advertising and to analyse our traffic. By clicking “I’m fine with this”, you are allowing the use of these cookies. Please refer to the help guide of your browser for further information on cookies, including how to disable them. Review our Privacy & Cookie Notice.