Cardiac Ablation Devices Market – Overview
The global cardiac ablation devices market is expected to grow at a favorable rate from 2021 to 2031 (forecast period). The increasing geriatric population and growing prevalence of cardiovascular diseases are anticipated to drive the global cardiac ablation devices market during the forecast period. Moreover, technological improvements in the field of ablation devices and increasing awareness regarding the positive effects of cardiac ablation procedures over standard therapeutic and surgical procedures are projected to boost the global cardiac ablation devices market.
Furthermore, ongoing product advancements to provide effective and safe therapy is likely to aid the cardiac ablation devices market growth.
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Cardiac Ablation Devices Market – Competitive Landscape
Prominent players active in the global cardiac ablation devices market are Stryker Corporation Abbott Laboratories, Olympus Corporation, Alcon Laboratories Inc., Boston Scientific Corporation, MicroPort Inc., CardioFocus Inc., Advanced Cardiac Therapeutics, Johnson & Johnson (Biosense Webster, Inc.), AngioDynamics, Inc., CONMED Corporation, Medtronic Plc, AtriCure, Inc., Toray Industries, Inc., Therapeutics, Inc., and others.
To obtain a competitive advantage and increase their market presence, these market players are pursuing various growth methods such as collaboration, partnership, mergers, and acquisitions.
Medtronic received extended FDA clearance for Cryoablation Catheters in June 2021. As an early rhythm control technique, the device is intended for the treatment of paroxysmal atrial fibrillation.
Cardiac Ablation Devices Market Cardiac Ablation Devices Market – Trends and Opportunities
The burgeoning elderly population is a major factor projected to boost the global cardiac ablation devices market during the forecast period. The elderly population is more vulnerable to cardiovascular illnesses, which will increase the number of ablation procedures in the years ahead. As per the World Health Organization, the number of people aged 65 and more is expected to rise from 524 million in 2010 to 1.5 billion by 2050. Aging causes various changes in the heart and blood arteries, increasing the likelihood of cardiac diseases. As a result, the aging population is expected to boost the product demand since cardiac ablation is an effective and safe treatment for abnormal heart rhythms.
Moreover, numerous technological breakthroughs in ablation devices and arrhythmia diagnostic devices are anticipated to bolster the global cardiac ablation devices market growth. The use of modern robotic technologies in cardiac ablation makes the procedure safer and more precise, providing major businesses with significant growth prospects. Furthermore, the increasing market penetration of ablation product makers in developing nations is likely to provide significant growth prospects for the worldwide cardiac ablation devices market.
The rising demand for advanced minimally invasive technologies is expected to propel the global cardiac ablation devices market. Numerous advantages linked with minimally invasive procedures, such as lowered surgical complications, shorter stay in the hospitals, quick recovery, and efficient post-surgical pain management, are anticipated to push patient preference for such treatments in the near future, positively affecting the global cardiac ablation devices market growth.
Cardiac Ablation Devices Market – Regional Landscape
The global cardiac ablation devices market in Asia Pacific is expected to grow due to the rising prevalence of cardiac arrhythmia in the region. Moreover, top industry players extending their operations in Asian countries, the accessibility of technologically improved products, and increasing awareness of treatment therapies among all demographic groups are some of the key aspects projected to drive the regional market growth.
The North American cardiac ablation devices market is likely to expand, owing to the increased prevalence of cardiovascular illnesses. As per the Centers for Disease Control and Prevention, approximately 18.2 million individuals in the United States are expected to be impacted by cardiovascular disease. As a result, the rising patient pool is likely to boost product demand. Furthermore, increased use of modern technologies, rising healthcare expenditures, and the presence of key industry leaders are anticipated to propel the regional market.