Global Ablation Catheters Market - 2022-2029

Market Overview

Ablation Catheters Market size was valued at US$ 2933.29 million in 2021 and is estimated to reach US$ 417.41 million by 2029, growing at a CAGR of 5.86% during the forecast period (2022-2029).

Ablation is removing a part of biological tissue, usually by surgery. Catheter ablation is a minimally invasive procedure in which a physician advances a flexible thin tube (catheter) through the blood vessels of the heart to ablate (stop) abnormal electrical pathways (signals) in the heart tissue.

Market Dynamics

The major driving forces are the rising incidence of coronary artery disease, the increase in research and development, technological advancements and the rising geriatric population are expected to drive market growth.

The rising incidences of coronary artery disease and cardiac arrhythmia are expected to drive the market growth

The global market for ablation catheters is primarily driven by the rising prevalence of coronary artery disease (CAD) and cardiac arrhythmia. CAD is the most prominent cause of death globally and is expected to drive the market's growth during the forecast period.

According to WHO, it is estimated that CAD will be responsible for a total of 11.1 million deaths globally by 2020. In Europe, one in every seven European women dies of CAD, and in the case of men, the percentage varies from 16% to 25%. In addition to its impact on mortality, CAD is a leading cause of morbidity and loss of quality of life. Above mentioned points make CAD a significant public health problem, exerting massive economic costs. 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 yearly 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 technological advancements by the major key players are driving the market's growth. Various novel research studies and innovations are taking place in the market. For instance, in Apr 2022, Abbott announced results from the PERSIST-END study that reported that the TactiCath contact force, a sensor-enabled ablation catheter device, was used to treat patients with persistent atrial fibrillation. Almost 9 out of 10 patients showed no symptoms for 15 months after the procedure.

The high cost associated with the ablation procedures will hamper the market's growth.

The risk associated with ablation procedures, the high cost, the stringent regulatory approval process, and the lack of skilled electrophysiologists may hinder market progress. 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 whole heart is seen in less percentage of the total population.

Segment Analysis

The multielectrode ablation catheter segment is expected to grow at the fastest CAGR during the forecast period (2022-2029)

The multielectrode ablation catheters segment is the highest market share holder in the global ablation catheters market, owing to the increased number of incidences of coronary artery disease leading to growing minimally invasive surgery and research activities. The multielectrode ablation catheters share the most established market. Their prominent advantages are reducing the duration of ablation procedures, improving the making of contiguous lesions, and preventing certain complications associated with unipolar RF energy. For instance, in Oct 2020, Johnson & Johnson Medical Devices Companies announced the approval of the THERMO COOL SMART TOUCH SF ablation catheter of Biosense Webster, a J&J subsidiary by the United States Food and Drug Administration. This catheter can be used for persistent atrial fibrillation treatment.

Increasing the latest scientific and technological advancements by key players in the market is driving the market. For instance, in Jan 2021, Medtronic announced that the Diamond Temp ablation system got approved by U.S.FDA for treating patients with recurrent paroxysmal atrial fibrillation. It is the first FDA-approved irrigated radiofrequency ablation system that is temperature controlled.

Geographical Analysis

North America holds the largest market share of the global ablation catheters market.

North America dominates the global ablation catheter market, primarily attributed to the rising geriatric population leading to the higher occurrence of heart failures. The growing prevalence of cardiovascular diseases and the rapid adoption of minimally invasive surgery are likely to enhance the growth of ablation catheters. Furthermore, factors such as the high spending of GDP on healthcare, growing government initiatives, and reimbursement policies in advanced medical treatment options are likely to enhance the growth of the ablation catheter market 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, lower complications risk, and allow patients to resume normal activities in a few days. Also, 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 reduce complications during procedures.

Moreover, extensive research activities are undertaken by the most prominent players in the area, and the rising demand for technologically advanced treatment will propel the market. Also, 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 the FDA for treating pediatric atrioventricular nodal reentrant tachycardia.

Competitive Landscape

The ablation catheter market is a moderately competitive presence of local and global companies. Key players contributing to the market's growth are Biosense Webster Inc., Boston Scientific Corporation, Medtronic Plc, Abbott Laboratories, Angiodynamics, CardioFocus, PLC Medical Systems, Biotronik, AtriCure, Inc., Spectranetics and more.

The key players are adopting various growth strategies such as product launches, mergers & acquisitions, partnerships, and collaborations, contributing to the growth of the cardiac ablation devices market. For instance, in Aug 2022, Medtronic announced its acquisition of Affere Inc. This acquisition will help Medtronic expand its portfolio of cardiac ablation by including 1st ever cardiac mapping and navigation platform that will provide integrated diagnostic and radiofrequency ablation solutions.

Boston Scientific Corporation:

Overview:

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

Product Portfolio:

INTELLATIP MIFI XP: It is a new generation ablation catheter with high resolution and MicroFidelity sensor technology. It is developed to deliver electrical information that is highly localized with real-time critical information.

Key Developments: In Oct 2021, Boston Scientific announced its acquisition of Baylis Medical Company. It will increase the electrophysiology and heart product portfolio of Boston Scientific.

The global ablation catheters market report would provide access to approximately 40+ market data tables, 45+ figures, and 200 (approximate) pages.