Global Cardiac Ablation Market 2017-2021
About Cardiac Ablation
Cardiac ablation is an endovascular procedure that helps to treat an irregular heart rhythm and is performed with the help of an ablation device and catheter. These products use radio frequency (RF) as an energy source to destroy unhealthy heart tissues. Ablation catheters remove faulty electrical pathways from the heart, thereby reducing the risk of ventricular fibrillation and sudden cardiac arrest. Cardiac arrhythmias are characterized by an abnormal heart rhythm, which is lower than 60 beats per minute, more than 100 beats per minute, or irregular. The improper functioning of the electrical systems regulating the heart can cause arrhythmia. Arrhythmias are of various types, including atrial fibrillation, atrial flutter, and atrioventricular nodal re-entrant tachycardia.
Technavio’s analysts forecast the global cardiac ablation market to grow at a CAGR of 7.6% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global cardiac ablation market for 2017-2021. To calculate the market size, the report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Cardiac Ablation Market 2017-2021
Technavio recognizes the following companies as the key players in the global cardiac ablation market: Boston Scientific, Medtronic, and St. Jude Medical.
Other Prominent Vendors in the market are: AblaCor, Advanced Cardiac Therapeutics, and AngioDynamics.
Commenting on the report, an analyst from Technavio’s team said: “One trend in market is emergence of digital cath labs in hospitals. Cath labs or cardiac catheterization laboratories in hospitals conduct both diagnostic and therapeutic procedures. These laboratories are used to conduct normal procedures such as the monitoring of blood flow and heart pressure. Advances in catheterization technology such as robot-assisted catheterization for cardiac catheterization have advanced the digital imaging system.”
According to the report, one driver in market is growing focus on clinical trials. Vendors are using advanced technologies to develop innovative ablation catheters. They invest in R&D to develop cost-effective and efficient devices and lower manufacturing costs. Many of these devices are awaiting approval across different countries. To prove the safety and efficacy profiles of their products, vendors conduct clinical trials. These studies will help vendors fulfill the regulatory requirements for product approvals. Positive or negative results of long-term follow-ups from clinical trials will also affect market growth. For instance, positive results of St. Jude Medical’s clinical trial for Flexibility ablation catheter, an irrigated ablation catheter with a flexible tip, led the product to receive the US FDA approval in January 2015.
Further, the report states that one challenges in market is lack of reimbursement in APAC and Africa. The cost of procedures and technology play a significant role in determining their adoption. While reimbursement covers ablation catheter procedures in countries such as Germany, France, and the UK, many countries do not provide reimbursement for physicians and hospitals. In APAC, only some countries such as Japan provide partial or fixed reimbursements for devices and procedures. The restrictive reimbursement environment in China, India, and African countries such as South Africa is limiting the adoption of cardiac ablation procedures, which has impacted the sales of cardiac ablation devices and catheters negatively.
Boston Scientific, Medtronic, St. Jude Medical, AblaCor, Advanced Cardiac Therapeutics, and AngioDynamics.