The healthcare sector is forever evolving and readily embraces new
technologies that are proven efficient at providing cure to the
community. Minimally invasive procedures have been very well received
by the medical practitioners and its application has escalated in the
recent past, providing a traction to the EP catheter ablation market.
A recent business intelligence study by Transparency Market Research
(TMR) has estimated that the global ET catheter ablation market will
be worth US$2.74 bn by the end of 2026, with the demand incrementing
at a formidable CAGR of 7.9% during the forecast period of 2017 to
2026.
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Owing to its apparent lucrativeness, a number of companies
functioning in the healthcare industry have thrown their hat into the
market for EP catheter ablation, making the value-chain-landscape
fairly fragmented and intensely competitive. The report identifies
Medtronic Plc., Boston Scientific Corporation, Abbott Laboratories
Inc., Johnson & Johnson, BIOTRONIK SE & Co. KG, Lepu Medical
Tech Co. Ltd., MicroPort Scientific Corporation, CardioFocus Inc.,
and Hansen Medical, Inc. as some of the key companies in the global
ET catheter ablation market. Most of these companies are well
established with strong geographical presence and financial might. In
the near future, these companies are expected to focus on the
development of advanced devices that can provide convenient
diagnosis.
While Biosense Webster, which is a subsidiary of Johnson &
Johnson, dominates in the cardiac ablation market as it is a major
supplier of diagnostic electrophysiology catheters, and is ahead of
the curve as far as localization capabilities are concerned. In the
same segment, Boston Scientific is not far behind either with its
Ultra ICE catheter and Blazer II RF ablation catheter products. St.
Jude Medical has also expanded its outreach by acquiring Irvine
Biomedical and EP Medsystems.
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Over the course of the forecast period, 2017–2026, the analysts of
the report have anticipated that the number of ablation procedures
will increase as a result of approval of new diagnostic EP catheters
that can incorporate localization or mapping capabilities. In
addition to that, innovations pertaining to wireless and
software-based diagnosis procedures are also expected carve a niche
for the market players.
Based on product, the TMR report segments the EP catheter ablation
market into radiofrequency (RF) ablation catheters, cryoablation
electrophysiology catheters, microwave ablation (MWA) systems,
navigational advanced mapping accessories, and laser ablation
systems, whereas indication-wise, the market has been categorized
into atrial fibrillation and flutter, cardiac arrhythmia,
tachycardia, and other indications. On the basis of end-users, the
market for EP catheter ablation has been bifurcated into hospitals,
specialty clinics, and ambulatory surgical centers. Geographically,
the analysts of the report have rated North America are the most
profitable region, which is primarily a reflection of high prevalence
of cardiovascular diseases in the developed country of the U.S. The
demand in the North America EP catheter ablation market has been
projected to increment at a CAGR of 6.7% during the aforementioned
forecast period.
Prevalence of cardiovascular diseases as a result of escalating
percentage of geriatrics in the global population, growing awareness
regarding the reliability of electrophysiology procedures, increasing
adoption of minimally invasive procedures, government support to
promote the usage of new technologies, and improving healthcare
infrastructure in a number of emerging economies are some of the key
factors augmenting the demand in the global EP catheter ablation
market.
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