Cardiac Ablation Devices - Market Insights, Competitive Landscape and Market Forecast-2026

Cardiac Ablation Devices - Market Insights, Competitive Landscape and Market Forecast-2026

Cardiac Ablation Devices Market By Technology (Radiofrequency (RF) Ablation, Electrical Ablation, Cryoablation, Ultrasound Ablation, Microwave Ablation), By Product (Radiofrequency (RF) Ablators [Temperature-Controlled Radiofrequency Ablators, Fluid-Cooled Radiofrequency Ablators, Robotic Catheter Manipulation Systems], Electrical Ablators [Argon Plasma/Beam Coagulators, Irreversible Electroporation Systems], Cryoablation Devices [Tissue Contact Probes, Others], Ultrasound Ablators [High-Intensity Focused Ultrasound Ablators, Ultrasound Ablation Systems, Others], Microwave Ablators [Microwave Thermotherapy Devices]), By Application (Cardiac Rhythm Management, Open Surgery, Others), By End-User (Hospitals, Cardiac Centers, Ambulatory Surgical Centers), by geography is expected to grow at a steady CAGR forecast till 2026 owing to growth in new therapies and increasing prevalence of cardiovascular diseases.

Global Cardiac Ablation Devices Market was valued at USD 2.00 billion in 2020, growing at a CAGR of 12.78% during the forecast period from 2021 to 2026, to reach USD 4.12 billion by 2026. The demand for Cardiac Ablation Devices is motivated by a rise in the prevalence of cardiovascular diseases like cardiac arrhythmia, atrial fibrillation, and stroke. Further, growth in new therapies, technological advancements, increasing geriatric population, and penetration and acceptance of Cardiac Ablation Devices in emerging countries will drive the market growth. Cardiac Ablation Devices were found to be extremely beneficial in heart failure cases in COVID-19 which further pushed for the demand for these devices in the pandemic situation.

Cardiac Ablation Devices Market Dynamics:

Cardiac ablation is a surgical technique that can correct cardiac arrhythmias by scarring tiny regions of the heart. Cardiac arrhythmias arise where there is a deficiency of the electrical impulses that regulate the heartbeats. As a consequence, heartbeats are irregular and can lead to stroke or heart failure if left untreated, and are one of the main causes of death. The global demand for cardiac ablation devices is projected to record significant growth due to a rise in the geriatric population and an increase in the cardiovascular disease population base.

As per the Global Health Data Exchange database, 2020, atrial fibrillation is the most frequent cardiac arrhythmia. It has been estimated that 6-12 million people worldwide will suffer this condition in the US by 2050 and 17.9 million people in Europe by 2060. Atrial fibrillation is a major risk factor for ischemic stroke and provokes an important economic burden along with significant morbidity and mortality.

Various factors can be linked with cardiac arrhythmia. These include pre-existing medical conditions such as diabetes, hypertension, hyperthyroidism, mental stress, heart conditions, old age, and other such factors as well as lifestyle associated factors such as smoking, alcohol abuse, drug abuse, excessive caffeine consumption, and others.

According to the 2019 report from the European Society of Cardiology (ESC), Smoking, alcohol consumption, and levels of mean blood cholesterol are still the main cardiovascular disease risk factors. But, the levels of other factors, such as the prevalence of overweight/obesity and diabetes, have increased considerably in recent decades.

Furthermore, consumption of some dietary supplements, herbal treatments, and some medications may also lead to cardiac arrhythmia. Thus, one of the successful treatments that follow to treat such conditions is cardiac ablation.

As per the Centers for Disease Control and Prevention (CDC), in 2020, the risk for atrial fibrillation increases with age. High blood pressure, the risk for which also increases with advancing age, accounts for about 1 in 5 cases of atrial fibrillation.

It is predicted that the rising number of elderly patients would transform healthcare delivery and create a larger demand for Cardiac Ablation Devices. As per the recent survey, Global Population Aging 2020 Report (United Nations, 2020), the aging population tends to grow at an alarming pace. In 2020, there were around 727 million individuals in the world aged 65 years or older. By 2050, the figure for such patients is expected to double and reach 1.5 billion by 2050. Furthermore, as per the Centers for Disease Control and Prevention (CDC), in 2020, the risk for AFib increases with age. High blood pressure, the risk for which also increases with advancing age, accounts for about 1 in 5 cases of AFib. Thus, all these factors are projected to drive the growth of the Global Market for Cardiac Ablation Devices.

Moreover, the companies are increasing their manufacturing of essential medical devices products. For instance, in August 2021, Acutus Medical, Inc. announced its innovative suite of software upgrades, known collectively as AcQMap 8, which has received FDA clearance and been awarded, CE Mark. AcQMap 8 introduces advanced new mapping algorithms into Acutus’ foundational technology, the AcQMap 3D imaging, and mapping system. These algorithms – including AcQTrack™ and the SlowZone™ Locator (Composite Maps) – are designed to quickly highlight regions of interest during the mapping and ablation of complex atrial arrhythmias, the treatment of which has been shown to significantly improve patient outcomes.

Therefore, such initiatives are expected to help the market and the patients in their treatment will drive the Global Cardiac Ablation Devices market growth also.

However, the product recalls and unfavorable regulatory scenarios may prove to be certain restraints to the Global Cardiac Ablation Devices market growth. Thus, the high prevalence of cardiovascular diseases that majorly includes heart failure conditions rising across the globe to which Cardiac Ablation Devices have emerged as potential solutions for patients' treatment and are likely to boost the growth of the device market.

Cardiac Ablation Devices Market Segment Analysis:

Cardiac Ablation Devices by Technology (Radiofrequency (RF) Ablation, Electrical Ablation, Cryoablation, Ultrasound Ablation, Microwave Ablation), Cardiac Ablation Devices by Product (Radiofrequency (RF) Ablators [Temperature-Controlled Radiofrequency Ablators, Fluid-Cooled Radiofrequency Ablators, Robotic Catheter Manipulation Systems], Electrical Ablators [Argon Plasma/Beam Coagulators, Irreversible Electroporation Systems], Cryoablation Devices [Tissue Contact Probes, Others], Ultrasound Ablators [High-Intensity Focused Ultrasound Ablators, Ultrasound Ablation Systems, Others], Microwave Ablators [Microwave Thermotherapy Devices]), By Application (Cardiac Rhythm Management, Open Surgery, Others), Cardiac Ablation Devices market by End User (Hospitals, Cardiac Centers, Ambulatory Surgical Centers), and Cardiac Ablation Devices market by Geography (North America, Europe, Asia-Pacific, and Rest of the World).

Cardiac Ablation Devices market product segment, Radiofrequency Ablators is expected to hold the largest share and it is one of the fastest-growing segments in the market. It is minimally invasive, enables excellent local tumor control, has promising long-term survival, and is a multimodal approach.

Other factors such as lower cost of radiofrequency ablation, and ease of use will support the growth of the Cardiac Ablation Devices market globally. Further, the rising geriatric population will fuel the growth of the Cardiac Ablation Devices market.

Additionally, assistance from government bodies, favorable reimbursement scenarios, is expected to enhance the Cardiac Ablation Devices market potential in several countries. Hence, all the above-mentioned factors are expected to drive the segment growth.

North America is expected to dominate the Overall Cardiac Ablation Devices Market:

North America is expected to dominate the overall Cardiac Ablation Devices market during the forecast period. This domination is due to the growing demand for advanced and minimally-invasive technologies in Cardiac Ablation Devices, and the increased cardiovascular disease in the region is driving the regional growth.

In the United States, approximately 670,000 new cases of heart failure are diagnosed each year. According to the Centers for Disease Control and Prevention (CDC), in 2020, about 6.2 million adults have heart failure. Heart disease is the leading cause of death for men, women, and people of most racial and ethnic groups. In addition, about 655,000 Americans die from heart disease each year—that’s 1 in every 4 deaths. Moreover, it is estimated that in the US, approximately 5.7 million patients of age 20 are affected with heart failure, while 30% of patients are below the age of 60.

Further, in the United States, the rising adoption of these devices, the high prevalence of CVDs, the growing number of research and development activities to improve current technologies. This situation is giving rise to a critical need for Cardiac Ablation Devices for the treatment of the disease. Additionally, the risk of being affected by a chronic disease is increasing dramatically due to the rising geriatric population, as per the National Institute of Environmental Health Sciences. This indicates that most Americans are likely to be affected by chronic disease, in the coming decades. This situation is giving rise to a critical need for Cardiac Ablation Devices for the prevention, and treatment of the disease.

As per European Heart Network AISBL, each year cardiovascular disease (CVD) causes 3.9 million deaths in Europe and over 1.8 million deaths in the European Union (EU). According to the 2019 report from the European Society of Cardiology (ESC), atrial fibrillation is the most common heart rhythm disorder and accounts for 0.28% to 2.6% of healthcare spending in European countries. Patients with atrial fibrillation have five times higher risk of stroke. And 20% to 30% of strokes are caused by atrial fibrillation. This is due to the rising burden of chronic diseases in the European region countries and Asia countries. In all countries, chronic illness rates have been increasing.

Thus, Europe and Asia-Pacific region have the future potential growth for the Global Cardiac Ablation Devices market.

Cardiac Ablation Devices Market Key Players:

Some of the key market players operating in the Cardiac Ablation Devices market include Abbott Laboratories, Boston Scientific Corporation, Avanos Medical, Inc., Auris Health, Inc., Olympus, CONMED Corporation, ERBE ELEKTROMEDIZIN GMBH, AngioDynamics, Medtronic Inc., AtriCure, Inc., Biosense Webster, Inc., Teleflex Incorporated, St. Jude Medical Inc., Lepu Medical Technology(Beijing)Co., Ltd., MicroPort Scientific Corporation, and others.

Recent Developmental Activities in the Cardiac Ablation Devices Market:

In August 2021, the Stereotaxis and Shanghai Microport EP Medtech Co., Ltd. announced a broad collaboration to advance technology innovation and commercial adoption of robotics in electrophysiology in China. The agreement brings together MicroPort EP’s commercial and product leadership in China’s electrophysiology market with Stereotaxis’ advanced Robotic Magnetic Navigation technology. MicroPort EP will also pursue regulatory approvals for Stereotaxis’ latest innovations including the Genesis RMN® system and proprietary magnetic ablation catheter.

In August 2021, Acutus Medical announced that its suite of new algorithms for the mapping and ablation of complex atrial arrhythmias received FDA clearance and CE mark approval.

In June 2021, The FDA granted a new indication to a cryoballoon ablation catheter that allows it to be used as a first-line treatment for atrial fibrillation, before antiarrhythmic drugs. Until the new indication for the catheter (Arctic Front Advance, Medtronic), catheter ablation was approved only for use in patients with atrial fibrillation who had failed antiarrhythmic drug therapy.

Key Takeaways from the Cardiac Ablation Devices Market Report Study

Market size analysis for current market size (2020), and market forecast for 5 years (2021-2026)

The effect of the COVID-19 pandemic on this market is significant. To capture and analyze suitable indicators, our experts are closely watching the Cardiac Ablation Devices market.

Top key product/services/technology developments, merger, acquisition, partnership, joint venture happened for last 3 years

Key companies dominating the Global Cardiac Ablation Devices Market.

Various opportunities are available for the other competitor in the Cardiac Ablation Devices Market space.

What are the top-performing segments in 2020? How these segments will perform in 2026.

Which are the top-performing regions and countries in the current market scenario?

Which are the regions and countries where companies should have concentrated on opportunities for Cardiac Ablation Devices market growth in the coming future?

Target Audience who can be benefited from this Cardiac Ablation Devices Market Report Study

Cardiac Ablation Devices providers

Research organizations and consulting companies

Cardiac Ablation Devices related organization, association, forum, and other alliances

Government and corporate offices

Start-up companies, venture capitalists, and private equity firms

Distributors and Traders in Cardiac Ablation Devices

Various End-users want to know more about the Cardiac Ablation Devices Market and the latest technological developments in the Cardiac Ablation Devices market.

Frequently Asked Questions for Cardiac Ablation Devices Market:

1. What are Cardiac Ablation Devices?

Cardiac ablation is a surgical technique that can correct cardiac arrhythmias by scarring tiny regions of the heart. Cardiac arrhythmias arise where there is a deficiency of the electrical impulses that regulate the heartbeats. As a consequence, heartbeats are irregular and can lead to stroke or heart failure if left untreated, and are one of the main causes of death.

2. What is the market for Global Cardiac Ablation Devices?

Global Cardiac Ablation Devices Market was valued at USD 2.00 billion in 2020, growing at a CAGR of 12.78% during the forecast period from 2021 to 2026, to reach USD 4.12 billion by 2026.

3. What are the drivers for Global Cardiac Ablation Devices?

The major drivers driving the demand for Cardiac Ablation Devices are the rise in the prevalence of cardiovascular diseases like cardiac arrhythmia, atrial fibrillation, and stroke. Further, growth in new therapies, technological advancements, increasing geriatric population, and penetration and acceptance of Cardiac Ablation Devices.

4. What are the key players operating in Global Cardiac Ablation Devices?

Some of the key market players operating in the Cardiac Ablation Devices market include Abbott Laboratories, Boston Scientific Corporation, Avanos Medical, Inc., Auris Health, Inc., Olympus, CONMED Corporation, ERBE ELEKTROMEDIZIN GMBH, AngioDynamics, Medtronic Inc., AtriCure, Inc., Biosense Webster, Inc., Teleflex Incorporated, St. Jude Medical Inc., Lepu Medical Technology(Beijing)Co., Ltd., MicroPort Scientific Corporation and others.

5. What regions have the highest share in the Cardiac Ablation Devices market?

North America is expected to dominate the overall Cardiac Ablation Devices market during the forecast period, 2021 to 2026. This domination is due to the growing demand for advanced and minimally-invasive technologies in Cardiac Ablation Devices, and the increased cardiovascular disease in the region is driving the regional growth.

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