Press Release Description
Cardiac Ablation Devices Market to Elevate with the Prevalence of Atrial Fibrillation Disease Across the Globe
The Global Cardiac Ablation Devices market is projected to grow at a CAGR of around 16.53% during the forecast period of 2023-28, cites MarkNtel Advisors in the recent research report. The factor attributing to the growth is the rising instances of cardiovascular diseases like atrial fibrillation, Arrhythmia, etc., due to the growing physical inactivity among individuals & the changing dietary habits. According to the statistics by National Center for Biotechnology Information, the total cases registered for atrial fibrillation across the globe reached around 37 billion instances during the last two decades, which is around a 33% spike in the number of occurrences of diseases. The surge in heart-related illnesses has generated a demand for these devices since they are primarily used in medical procedures to reduce the risk of fatal health complications. Moreover, these devices are regarded as minimally invasive treatment solutions since they offer specialized imaging techniques. Thus, doctors prefer these devices to improve their precision & accuracy during the surgical procedure, thereby driving the market.
Further, the amalgamation of digital technologies like robotics & others into these appliances to improve the accuracy of the devices is also likely to enhance the adoption of cardiac ablation devices across the globe. Along with it, the growing partnerships & collaboration between emerging startups like CardioFocus, EPiEP, etc., and well-established players, namely Johnson & Johnson, in the healthcare industry to manufacture these medical devices & widen their product portfolio would also amplify the growth of the market in the forthcoming years, further states the research report, “Global Cardiac Ablation Devices Market Analysis, 2023.”
Surge in the Number of Atrial Fibrillation (AFib) Cases Globally Necessitate the Utilization of Cryoablation Devices
Based on the technology, the market is further bifurcated into Radiofrequency (RF) Ablation, Cryoablation Devices, Laser Ablation, Electrical Ablators, Microwave Ablation, and Ultrasound Ablation. Of them, Cryoablation devices witnessed significant growth due to the factors such as rising cases of Atrial Fibrillation owing to the prevalence of high blood pressure & sleep apnea among individuals. According to the Centers for Disease Control and Prevention, more than 45,000 are hospitalized due to AFib every year, as a result, it has become a matter of concern for individuals.
Thus, the surging instances of these diseases are giving rise to an expanded share of cryoablation devices in the market. Besides, laser ablation technology is also gaining traction & is likely to register growth in the upcoming years due to the government’s encouragement to use laser technology, owing to the low radiation exposure.
Early Adoption of Advanced Technologies in North America to Augment the Market Growth
North America is regarded as the region with the most advanced & improved digital infrastructure across the globe due to the significant investment by the government to upscale the life quality of the residents. The rising rate of heart-related diseases in the countries such as the US, Mexico, etc., is propelling market growth in the region. In addition, the presence of leading players like Johnsons & Johnsons, Abbott, CardioFocus, etc., in North America is also a prime aspect of the growing innovation in the healthcare industry. Moreover, the digital innovations & amalgamation of technologies in the devices to improve accuracy & precision are also leading to the surging adoption of the devices during surgical procedures.
Further, governments & health authorities like Food and Drug Authority (FDA), etc., are approving the usage of the devices like cardiac ablation systems & others during the treatment. Thus, the upscaling government focuses on sanctioning medical devices to minimize health-related risks and is anticipated to enhance the demand for cardiac ablation devices in the forthcoming years.
With strategic initiatives, such as mergers, collaborations, and acquisitions, the leading market players, including (Abbott Laboratories, Medtronic plc, Olympus Corporation, Johnson & Johnson (Biosense Webster, Inc.), Boston Scientific Corporation, CONMED Corporation, AngioDynamics, Inc., CardioFocus Inc., Stryker Corporation, MicroPort Inc., Stereotaxis Inc., Teleflex Incorporated, Lepu Medical Technology, Avanos Medical, AtriCure Others) are looking forward to strengthening their market position.
Key Questions Answered in the Research Report
- What are the industry’s overall statistics or estimates (Overview, Size- By Value, Forecast Numbers, Segmentation, Shares)?
- What are the trends that have shaped the industry to its current form?
- What key factors would propel and impede the industry across the region?
- How has the industry been evolving in terms of geography & product adoption?
- How has the competition shaped across various countries, followed by their comparative factorial indexing?
- How have buying behavior, customer inclination, and expectations from product manufacturers evolved during 2018-28?
- Who are the key competitors, and what strategic partnerships or ventures are they coming up with to stay afloat during the projected time frame?
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