Cardiac Ablation Market Analysis by Technology (Radiofrequency, Electrical, Cryoablation, Ultrasound, and Microwave); by Product (Irreversible Electroporation, HIFU, and MRgFUS); and by Application (Cardiac Arrhythmia, Atrial Fibrillation, Tachycardia, and Open Surgery) – Global Supply & Demand Analysis & Opportunity Outlook 2023-2035
Buy Now Report ID: 4773 | Published Date: Mar 30, 2023
The global cardiac ablation market is estimated to garner a revenue of ~USD 5 Billion by the end of 2035 by growing at a CAGR of ~13% over the forecast period, i.e., 2023 – 2035. Further, the market generated a revenue of ~USD 3 Billion in the year 2022. The growth of the market can be attributed to growing consumption of alcohol, tobacco and substance abuse which is further boosting the prevalence for cardiac ailments. According to a new brief released by the World Health Organization, the World Heart Federation, and the University of Newcastle Australia ahead of World Heart Day, which is observed on September 29, 1.9 million people per year pass away from tobacco-induced heart disease.
Smoking and the consumption of any other substances greatly affect the functioning of the heart, along with all other body parts. According to the FDA, the poisonous mixture of more than 7,000 chemicals in cigarette smoke could interfere with vital bodily functions when it is inhaled, causing serious health problems. Getting oxygen-rich blood to the heart and the rest of the body is one of processes of inhaling. When a person breathes, the lungs receive oxygen and send it to the heart, which then circulates this blood throughout the rest of the body via the blood arteries. In addition, when people inhale cigarette smoke, the blood that is circulated to the rest of the body picks up the compounds in the smoke. These substances could harm the blood vessels and heart, which could result in cardiovascular disease (CVD) or other heart disease.
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Base Year |
2022 |
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Forecast Year |
2023-2035 |
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CAGR |
~13% |
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Base Year Market Size (2022) |
~USD 3 Billion |
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Forecast Year Market Size (2035) |
~ USD 5 Billion |
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Regional Scope |
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Growth Drivers
The expected prevalence of diabetes worldwide in 2019 was about 8% (approximately 460 million people), and it was predicted to increase to about 9% (approximately 570 million) by 2030 and more than 11% (approximately 699 million) by 2045. Atrial fibrillation (AF) cardiac ablation appears to be a safe therapy in people with diabetes mellitus (DM) and considerably lowers symptom load in this group. Patients with and without DM experienced comparable post-procedural complications and hospitalization rates. Hence, owing to this, the market is estimated to boost over the forecast period.
According to the World Health Organization, the number of people 60 and older in the world is expected to double by 2050 (2.1 billion). One of the key elements that is going to have a beneficial effect on market revenue is the growing geriatric demographic base. The number of ablation treatments would increase in the coming years since elderly people to experience a greater variety of cardiovascular problems than younger people. Moreover, age-related changes in the heart's and blood vessels' functionality increase the risk of cardiac diseases. Additionally, the ageing population is projected to fuel the need for cardiac ablation as it is a safe and highly successful treatment for disorders such as atrial fibrillation, arrhythmia, and tachycardia.
Throughout the past two decades, India has emerged as one of the fastest-growing emerging economies, benefiting from significant FDI inflows that have increased from USD 2.5 billion in 2000–01 to USD 50 billion in 2019–20.
Minimally invasive operations made up 11.1% of these procedures in 2017 and were assisted by robotics in 2.5% of them; these percentages increased to 11.2% and 2.9%, respectively, in 2018.
By 2024, it was predicted that India's alcohol consumption would rise to roughly 7 billion litres from approximately 4 billion litres as it was in 2020.
Challenges
The global cardiac ablation market is segmented and analyzed for demand and supply by technology into radiofrequency, electrical, cryoablation, ultrasound, and microwave. Out of which, the radiofrequency segment is anticipated to garner the highest revenue by the end of 2035. The growth of the market can be attributed to the growing number of cardiovascular diseases all around the globe. According to the World Health Organization, the main cause of death worldwide is cardiovascular disease (CVD). In 2019, 32% of all fatalities worldwide were attributable to CVDs, killing an estimated 17.9 million individuals. Heart attacks and strokes were to blame for 85% of these deaths. Radiofrequency has been used to create percutaneous left heart access and has been proven effective at reanalyzing the central and peripheral arteries. Moreover, it is known to be safe and effective in treating heart disease. Moreover, the ultrasound segment is anticipated to grow significantly over the forecast period, backed by growing demand for ultrasound devices.
The global cardiac ablation market is also segmented and analyzed for demand and supply by application into cardiac arrhythmia, atrial fibrillation, tachycardia, and open surgery. Amongst these segments, the atrial fibrillation segment is anticipated to grow significantly over the forecast period, backed by its growing frequency. Moreover, the growing consumption of alcohol and smoking is also estimated to boost the frequency of atrial fibrillation. Additionally, growing intake of caffeine is also anticipated to drive the growth of the segment in the market. Also, atrial fibrillation risk is higher in people with specific chronic illnesses such as diabetes, metabolic syndrome, chronic renal disease, lung disease, or sleep apnea. Blood could build up and form clots in the upper chambers of the heart (atria) as a result of the disorderly cardiac rhythm in atrial fibrillation. A stroke may result from a blood clot in the left atrium of the heart that escapes and travels to the brain. As a person ages, the risk of stroke from atrial fibrillation increases. Hence, the treatment for atrial fibrillation is necessary. Further, this is estimated to boost the demand for effective cardiac rhythm management. Therefore, owing to the growth in this segment, the market is expected to grow further.
Our in-depth analysis of the global cardiac ablation market includes the following segments:
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By Technology |
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By Product |
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By Application |
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The North American cardiac ablation market, amongst the market in all the other regions, is projected to hold the largest market share by the end of 2035, backed by the presence of key pharmaceutical equipment companies, along with rise in number of clinical trials. Moreover, the prevalence of heart disease is also high in this region which is also estimated to boost the growth of the market in this region. Most prevalent form of heart disease, coronary heart disease (CHD), claims the lives of over 382,820 people each year in United States. Almost 805,000 people experience a heart attack each year. 605,000 of these result in a first-time heart attack, while 200,000 are caused by previous heart attacks. Further, there has been growing investment made in the development of cardiac ablators and rise in technological advancement, which would further enhance productivity which would also boost the market growth in this region.
The Asia Pacific cardiac ablation market, amongst the market in all the other regions, is projected to grow with the highest CAGR during the forecast period. The growth of the market in this region can be attributed to the growing geriatric population who are prone to cardiovascular disease. However, adults as well as young people in this region are estimated to diagnose with cardiovascular disease. Although, it has less than 20% of the global population, according to estimates from the Indian Heart Association, India is responsible for over 60% of the burden of heart disease worldwide. This may be attributed to a genetic susceptibility to metabolic dysregulation and cardiomyopathy, as well as a recent change in modifiable risk factors towards increased consumption of red meat, saturated fats, and trans fats, junk foods, and higher levels of stress. Hence, the adoption of cardiovascular disease treatment is estimated to increase in this region, further boosting the market growth. Moreover, there has been a rise in manufacturers of ablation in this region, which is estimated to influence the growth of the market.
Medtronic, announced the signing of a formal agreement to purchase Affera, Inc., a privately held medical technology business situated in the Boston region. For the treatment of patients with cardiac arrhythmias (irregular heartbeats) such atrial fibrillation, Affera develops and produces catheter-based cardiac ablation technologies, such as a unique localized pulsed field ablation solution (AF).
Biosense Webster, Inc., a subsidiary of Johnson & Johnson MedTech, announced the availability of the OCTARAY Mapping Catheter with TRUEref Technology, which is driven by the CARTO 3 Version 7 System. Atrial fibrillation and other cardiac arrhythmias were produced using the OCTARAY Mapping Catheter (AFib).
In 2023, market players might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain.
Controlling Inflation has become the first priority for global economies from last quarter of 2022 and to be followed in 2023. With skewed economic situations, rise in interest rate by governments to control spending and inflation, spiked oil and gas prices, high inflation, geo-political issues including U.S. & China trade war, Russia-Ukraine conflict to intensify the global economic issues.
The interest rates in the U.S. may be less sensitive in 2023 as compared to 2022; sigh of relief for businesses. Positive business sentiments, healthy business balance sheets, growth in construction spending (private construction value in 2022 stood at $1,429.2 billion, 11.7 percent (±1.0 percent) above the $1,279.5 billion spent in 2021, Residential construction in 2022 was $899.1 billion, up by 13.3 percent (±2.1 percent) from $793.7 billion in 2021, non-residential construction touched $530.1 billion, 9.1 percent (±1.0 percent) above the $485.8 billion in 2021.) showcases minimal impact of recession in the country.
Similarly, spiked spending in the European and major Asia economics including, India, China & Japan to showcase less impact on the global demand.
Author Credits: Radhika Gupta, Shivam Bhutani
Ans: The major factors driving the growth of the market are growing prevalence of diabetes mellitus, rising geriatric population, surge in investment in healthcare sector, and others.
Ans: The market is anticipated to attain a CAGR of ~13% over the forecast period, i.e., 2023 – 2035.
Ans: Stringent government regulations, risk associated with cardiac ablation, and high cost of the treatment are estimated to be the growth hindering factors for the market expansion.
Ans: The market in the North American region is projected to hold the largest market share by the end of 2035 and provide more business opportunities in the future.
Ans: The major players in the market are AngioDynamics, Atricure, Inc., Alcon, Boston Scientific Corporation, Olympus Corporation, CONMED Corporation, Medical Device Business Services, Inc., BIOTRONIK SE & Co KG, Biosense Webster, Inc., and others.
Ans: The company profiles are selected based on the revenues generated from the product segment, the geographical presence of the company which determines the revenue generating capacity as well as the new products being launched into the market by the company.
Ans: The market is segmented by technology, product, application, and by region.
Ans: The atrial fibrillation segment is anticipated to garner the largest market size by the end of 2035 and display significant growth opportunities.
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