Leading cardiac ablation market players include Medtronic, AngioDynamics, Atricure, Inc., Alcon, Boston Scientific Corporation, Olympus Corporation, CONMED Corporation, Medical Device Business Services, Inc., BIOTRONIK SE & Co KG, and Biosense Webster, Inc.
New York, Jan. 10, 2024 (GLOBE NEWSWIRE) -- The global cardiac ablation market size is projected to grow at a CAGR of over ~13% from 2023 to 2035. The market is expected to garner a revenue of USD 5 billion by the end of 2035, up from a revenue of ~USD 3 billion in the year 2022.The major element to influences the growth of the market is the growing geriatric population. According to the WHO, one in six individuals on the planet is expected to be 60 years of age or older by 2030. At this point, there will be 1.4 billion people over the age of 60, up from 1 billion in 2020.
Moreover, individuals aged 65 and older may be more susceptible to heart disease owing to changes in their bodies. Over time, fatty deposits accumulate in the artery walls, which is one of the main causes of heart disease. Furthermore, growing obesity among people is also encouraging heart disease. As per WHO, over 1 billion individuals globally are affected by obesity — this includes 650 million adults, 340 million teenagers, and 39 million children. This figure is still rising. Therefore, the market revenue is set to rise.
Rising Population to Boost the Growth of Global Cardiac Ablation Market
With 8,045,311,446 individuals on the globe in 2023, there was a rise of over 0.87% (or over 70,206,290) from the population of roughly 7,975,105,155 in 2022. Hence, this has also increased the need for an advanced healthcare system since with the rise in population and the prevalence of disease among them Therefore, the market demand for cardiac ablation is estimated to increase.
Cardiac Ablation Market: Regional Overview
The market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa region.
Growing Investment in the Healthcare Sector to Influence Market Expansion in North America
The cardiac ablation market in North America is set to capture the largest market revenue by the end of 2035. The major factor to dominate the market revenue is growing investment in healthcare. For instance, the amount spent on health care in the United States increased by over 3% in 2021 to approximately USD 5 trillion, or close to USD 12,913 per person.
Surge in Number of Diabetes to Influence the Market Expansion in Asia Pacific
The Asia Pacific market for cardiac ablation is set to have notable growth over the forecast period. This could be on account of the rising number of diabetes patients. Additionally, this region is expected to have a rise in smokers. According to the World Health Organization, around 8 million people globally die from tobacco-related causes of mortality each year. In the WHO South-East Asia Region (SEAR), which is also home to some of the biggest producers and consumers of tobacco products, it takes 1.6 million lives annually. India and Indonesia are two of the world's top five tobacco producers. This is further also increased prevalence of cardiovascular disease in this region which is influencing the market demand.
Cardiac Ablation, Segmentation by Technology
Radiofrequency
Electrical
Cryoablation
Ultrasound
Microwave
The radiofrequency segment is poised to gather the highest revenue by the end of 2035. This growth is set to be dominated by growing prevalence of cardiovascular disease. According to the WHO predictions, globally, cardiovascular diseases (CVDs) account for 17.9 million deaths annually, making them the leading cause of death.
Cardiac Ablation, Segmentation by Application
Cardiac Arrhythmia
Atrial Fibrillation
Tachycardia
Open Surgery
The atrial fibrillation segment is projected to have notable growth in the market over the forecast period. This growth is set to be encouraged by raising lung disease. COPD is the third most prevalent cause of death globally, with an estimated over 199 million people living with the disease and close to 4 million dying from it annually.
A few of the well-known industry leaders in the cardiac ablation market that are profiled by Research Nester are Medtronic, 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.
Recent Development in the Market
Affera, Inc., a privately held medical technology company based in the Boston area, was officially acquired by Medtronic, the company stated. Affera manufactures and develops catheter-based cardiac ablation technologies, including a special localized pulsed field ablation solution (AF), to treat patients with cardiac arrhythmias (irregular heartbeats), such as atrial fibrillation.
The Johnson & Johnson MedTech subsidiary Biosense Webster, Inc. has announced the release of the OCTARAY Mapping Catheter with TRUEref Technology, powered by the CARTO 3 Version 7 System. With the OCTARAY Mapping Catheter, atrial fibrillation and other heart arrhythmias were induced (AFib).
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