Global Cardiac Ablation Devices Market - 2022-2029

Market Overview

Cardiac Ablation Devices Market size was valued US$ 4,067.2 million in 2021 and is estimated to reach US$ 10,894.3 million by 2029, growing at a CAGR of 12.85% during the forecast period (2022-2029).

Cardiac ablation, a non-invasive procedure to modify/alter the functions of the tissues in heart which causes abnormal heart rhythm. Catheter ablation, surgical ablation, and hybrid surgical catheter ablation are various types of cardiac ablation. Cardiac ablation is used in cardiac rhythm management, open surgery, and in other applications.

Market Dynamics

The major driving forces are the increasing number of people with cardiac arrhythmia, increasing geriatric population, rising healthcare awareness, and the growing demand for non-invasive procedures.

Increasing prevalence of cardiac arrhythmia and rising research activities are expected to drive market growth.

The rising number of cardiac arrhythmia is expected to drive the market. For instance, according to the CDC 2020 report, more than 750,000 hospitalizations occur each year because of atrial fibrillation. The condition also contributes to nearly 130,000 deaths each year. Thus, the increasing number of cardiac arrhythmia cases is driving the market.

Increasing geriatric population is expected to boost the market over the period of forecast. Many nations are now facing challenges related to the ongoing and increasing demographic shift in age among their populations. As per the Department of Economic and Social Affairs Population Division of United Nations 2019, the global population of 60 years old will double and those of 80 years old will triple in the next 30 years. As per the World Health Organization, the number of people of 65 or older is expected to grow from 524 million in 2010 to 1.5 billion in 2050. Development of several chronic diseases such as cardiovascular diseases and neurodegenerative diseases are often associated with and more common among the older age groups. Thus, the growing geriatric population is driving the market.

The increasing research activities to check the efficacy and safety of ablation devices are expected to boost the market. For instance, on August 19, 2019, Scientists at Johns Hopkins have successfully created personalized digital replicas of the upper chambers of the heart and used them to guide the precise treatment of patients suffering from persistent irregular heartbeats. Also, Loyola tested a new catheter ablation system that can reach deeper into the heart muscle.

Stringent government regulations and side effects are expected to hamper the market growth.

The lack of skilled medical professionals, stringent government regulations, and the onset of side effects are hampering the market. Among these, the onset of side effects is expected to restrain the market. For instance, stroke, chemical allergies, esophageal injury, or in rare cases, death of the complete heart is seen in less percentage of the total population.

Industry Analysis

The global cardiac ablation devices market provides in-depth analysis of the market based on various industry factors such as porter's five forces, regulatory analysis, supply chain analysis, pricing analysis and unmet needs.

Segment Analysis

Radiofrequency ablation devices segment is expected to hold the largest market share in global cardiac ablation devices market

The global cardiac ablation devices market can be segmented by product type into radiofrequency (RF) ablation devices, electrical ablation devices, cryoablation devices, ultrasound ablation devices, and microwave ablation devices.

Electric ablators are further segmented into argon plasma/beam coagulators and irreversible electroporation systems. The electrical ablation devices are expected to grow at a high rate, owing to the increased number of research activities. For instance, according to the researchers, who presented the study details at Heart Rhythm, the Heart Rhythm Society's 39th Annual Scientific Sessions, commenced a first-in-human electroporation ablation study and reported that pulsed electric fields could target the specific tissue for atrial fibrillation.

The cryoablation devices are further segmented into tissue contact probes and tissue spray probes. The cryoablation devices are expected to boost the market, owing to the recent approvals, acquisitions, and mergers by the key players. For instance, In Jan 2021, Medtronic announced that DiamondTemp ablation system got approved by U.S.FDA for treatment of patients that have recurrent, paroxysmal atrial fibrillation.

Ultrasound ablation devices are further segmented into high-intensity focused ultrasound ablators, magnetic resonance-guided focused ultrasound ablators and ultrasound ablation systems. It is expected to drive the market over the period of forecast, owing to the recent government approvals. For instance, in 2019, Acutus Medical won European approval for its AcQMap contact mapping software. The system's novel catheter uses ultrasound and electrical tissue conduction mapping to provide a novel electro physiologic live view inside the heart.

The global cardiac ablation devices market can be segmented by application into cardiac rhythm management, open-heart surgery, and others.

Cardiac Rhythm Management is further segmented into cardiac arrhythmia, atrial fibrillation and flutter, and tachycardia. The cardiac rhythm management segment is expected to boost the market, owing to the increased number of researches, government approvals, etc. Loyola Medicine is among the two centers in the world, offering a novel catheter ablation system used to improve treatment outcomes for a life-threatening heart rhythm disorder called ventricular tachycardia. On January 30, 2019, according to the new research published in the January issue of The Journal of Nuclear Medicine, the Iodine-123 metaiodobenzylguanidine (123I-MIBG) SPECT imaging, when combined with cardiac magnetic resonance imaging (MRI), helped to identify specific subsets of heart tissue more prone to arrhythmia, which may allow physicians to achieve improved ventricular tachycardia suppression and shorter procedure times. Thus, the growing number of research activities are driving the market.

Geographical Analysis

North America region holds the largest market share in the global cardiac ablation devices market

Geographically, the global cardiac ablation devices market is segmented into five major regions: North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.

North America is dominating the global cardiac ablation devices market and is estimated to hold a significant market size over the forecast period owing to the increasing prevalence of cardiac arrhythmia's, presence of well-developed infrastructures, high volumes of catheterization for surgeries, increasing government support, and high patient awareness in the region.

The high volumes of catheterization for surgeries are expected to boost the market. For instance, according to the American Heart Association (AHA), catheter-based ablation procedures boast a 90 % success rate, having a lower risk of complications, and allow patients to resume the normal activities in a few days. Also, the leading companies such as Biosense Webster, Medtronic, and Boston Scientific spend millions of dollars each year researching and developing new devices to improve these success rates and to reduce complications during procedures.

The increasing number of cardiac arrhythmia cases is boosting the market. For instance, the Centre for Disease Control and Prevention in 2019, estimated that 2.7-6.1 million people in the US had atrial fibrillation. Thus, the rising number of cardiac arrhythmia cases are driving the market.

Also, the presence of key players manufacturing cardiac ablation devices are boosting the market. For instance, In Feb 2022, Medtronic announced U.S. FDA approved Freezor and Freezor Xtra cardiac cryoablation focal catheters. These are the first ablation catheters approved by FDA for the treatment of pediatric atrioventricular nodal reentrant tachycardia.

Competitive Landscape

The cardiac ablation devices market is highly competitive with presence of large number of players including Boston Scientific Corporation, Epix Therapeutics, Acutus Medical, Medtronic, AtriCure, Inc., Biosense Webster, Inc., St Jude Medical, Abbott and Mount Sinai Health System Inc.

The key players are adopting various growth strategies such as product launches, mergers & acquisitions, partnerships, and collaborations which are contributing to the growth of the cardiac ablation devices market globally. For instance,

• In Aug 2022, Medtronic announced its acquisition of Affere Inc. This acquisition will help metronic expand its portfolio of cardiac ablation by including 1st ever cardiac mapping and navigation platform that will provide integrated diagnostic and radiofrequency ablation solution.
• In Oct 2021, Boston Scientific announced its acquisition of Baylis Medical Company. It will increase the electrophysiology and heart product portfolio of Boston Scientific.
• In Jun 2021, Boston Scientific Corp. announced about exercising the acquisition of Farapulse Inc. remaining shares. It will expand Boston electrophysiology portfolio and include Pulse field ablation system of Farapulse. It is a non-thermal ablation system that is used for treating atrial fibrillation.
• In Jan 2021, Medtronic announced that DiamondTemp ablation system got approved by U.S.FDA for treatment of patients that have recurrent, paroxysmal atrial fibrillation. It is the 1st FDA approved irrigated radiofrequency ablation system that is temperature controlled.

Key Companies to Watch

Boston Scientific Corporation:

Overview: Boston is a multinational biomedical engineering company. It manufactures medical devices that includes interventional cardiology, neurovascular intervention, cardiac surgery, oncology, vascular surgery etc. it also offers minimally invasive implantable cardiovascular defibrillator. It was founded in 1979 and is headquartered in Massachusetts, United States.

Product Portfolio:

MetriQ Pump: It is an open irrigated system that enables ablation procedures. It helps in maximizing the success of open irrigated procedure. With advanced ablation technology it improves patient outcomes.

Key Developments: In Jan 2021, Boston Scientific Corp. announced its agreement of acquisition of Preventice Solutions Inc., a private company that provides products of mobile cardiac health solutions and services.

The global cardiac ablation devices market report would provide an access to an approx. 45+market data table, 40+figures and 180pages.