Growing acceptance of catheter ablation as the first line of therapy, along with recent developments introducing robotic catheter navigation systems and 3D electro-anatomical mapping systems creates a highly conducive environment for the growth of the cardiac ablation technologies market. However, an extensive study published by Fact.MR raises concerns regarding technical complexity leading to lack of required operational competency, which leads to fundamental barriers to the adoption of advanced ablation systems.
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Key Takeaways of Cardiac Ablation Technologies Market Study
- Adoption of radiofrequency is projected to add significant revenue share of around 55% to the cardiac ablation technologies market by 2026, while laser technology would witness the highest adoption rate, considering its high precision rate and better outcomes.
- Application of cardiac ablation technologies for treatment of atrial fibrillation is projected to grow by 10% in 2020, over 2019, as it is a common disorder affecting electrical impulses in the atria.
- Introduction of hybrid surgical-catheter ablation aids electrophysiologists in performing heart surgeries with minimal invasion, thereby encouraging patients to undergo surgeries. Advent of robotic technologies is intended at offering increased safety and accuracy to the cardiac ablation process, which is expected to herald high sales opportunities to players in the cardiac ablation technologies market.
- North America is an early adopter of new technologies, more so in the healthcare domain. Furthermore, availability of healthcare reimbursement schemes makes the purchase of advanced medical products easy for medical professionals. On the back of a circular demand and supply scenario, North America is projected to lead the global cardiac ablation technologies market with an estimated share of 40% during the forecast period.
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A key opinion leader at Fact.MR opines, “China, India, Brazil, and Mexico are attractive markets for the development and distribution of cardiac ablation systems, as successful clinical trials of the microwave ablation procedure for the treatment of atrial fibrillation are leading to high adoption among surgeons and wide acceptance among patients.”
Diversified Product Portfolio – A Key Strategy to Acquire Higher Market Share
Johnson & Johnson alone accounts for a share of around 52% in the cardiac ablation technologies market, which is attributable to its extensive range of products and incorporation of advanced technologies. In 2018, the company announced the launch of the CARTO VIZIGO bi-directional guiding sheath in the U.S. market. This product helps electrophysiologists reduce their dependency on fluoroscopy. Such developmental initiatives are projected to further gain momentum in the future, as the market leader increases its Y-o-Y investment expenditure for R&D activities. In 2017, the company invested around US$ 10 Bn on R&D activities.
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Though the investment capability of leading players is significantly high, players across all tiers in the cardiac ablation technologies market extend efforts towards diversifying their product portfolios to beat their global counterparts.
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