Cardiac Ablation Catheters Market - Global Industry Insights, Trends, Outlook, and Opportunity Analysis, 2017-2025
Rising prevalence of cardiac arrhythmia fuels the cardiac ablation catheters market
Catheter ablation procedures are expected to become a prevalent method of treating cardiac arrhythmias owing to the cost effective and safe treatment method. According to American Heart Association, around 33.5 million people were suffering from atrial fibrillation globally in 2013. In 2012, the World Health Organization confirmed that, cardiovascular diseases accounted for almost 37% of the global non-communicable disease-related mortalities with rising rates of obesity and unhealthy lifestyle. The increase in the prevalence of cardiovascular diseases like atrial fibrillation, atrial flutter and supraventricular tachycardia, decrease in heart muscle elasticity, decrease in heart output, aging population are the driving factors for the growth of cardiac ablation device markets. According to the study by American Heart Association in 2017, catheter-based ablation procedures claim 90% success rate with minimum risk of complications allowing patients to resume normal activities within a few days, thereby growing the demand for ablation catheters in surgical procedures.
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Cryoablation catheters are expected to fuel the cardiac ablation device market owing to higher success rates and fewer complications
The global cardiac ablation catheters market is segmented on the basis of product type, technology, application, end user and geography.
On the basis of product type, the global cardiac ablation catheters market is segmented into:
Multielectrode ablation catheters
Single point ablation catheters
On the basis of technology, the global cardiac ablation catheters market is segmented into:
On the basis of applications, the global cardiac ablation catheters market is segmented into:
Supraventricular tachycardia (SVT)
Wolff-Parkinson-White (WPW) syndrome
On the basis of end-user, the global cardiac ablation catheters market is segmented into:
Ambulatory Surgical Centers
Sophisticated reimbursement frameworks to boost the cardiac ablation device market in North America
Regional segmentation of the cardiac ablation catheters market by Coherent Market Insights comprises North America, Europe, Asia Pacific, Latin America, Middle East, and Africa. According to the American Heart Association (AHA) estimates in 2016, atrial fibrillation (AF), the most common complex arrhythmia, affected between 2.7 and 6.1 million people in the U.S., and its prevalence is expected to double by 2050. Moreover, about 2-4 lakh new atrial fibrillation cases are diagnosed every year in the U.S. North America is expected to hold the largest share of the market owing to sophisticated reimbursement frameworks, rising penetration rates of non-pharmacological procedures. Asia Pacific is expected to register the highest growth during the forecast period due to the factors including growing patient awareness and disposable income levels, improving healthcare infrastructure and, demand for non-pharmacological treatments.
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Development of innovative cardiac ablation catheters by manufacturers to improve quality care for patients fuels the market growth
Key players operating the cardiac ablation catheters market include Medtronic, St. Jude Medical, Boston Scientific and Biosense Webste. The strategies adopted by the key players includes the development of novel technology and adaptation in new healthcare fields to improve quality care for arrhythmia patients. Other prominent vendors in the market include Atricure, CardioFocus, Biotronik, Spectranetics and PLC Medical Systems.
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