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(Health-NewsWire.Net, May 13, 2021 ) The report "Cardiac Mapping Market by Product (Contact Mapping Systems (Electroanatomical Mapping, Basket Catheter Mapping), Non-contact Mapping Systems), Indication (Atrial Fibrillation, Atrial Flutter, AVNRT), Region - Global Forecast to 2024" is expected to reach USD 2.1 billion by 2024 from USD 1.4 billion in 2019, at a CAGR of 8.7%.
The Growth in the cardiac mapping industry is driven primarily by factors such as new entrants in the market, growing investments, funds, and grants, increasing incidence of target diseases, and growth in the geriatric population.
Market Size Estimation;
Both top-down and bottom-up approaches were used to estimate and validate the total size of the cardiac mapping market. These methods were also used extensively to determine the extent of various subsegments in the market. The research methodology used to estimate the market size includes the following:
- The key players in the industry and markets have been identified through extensive secondary research
- The industry’s supply chain and market size, in terms of value, have been determined through primary and secondary research processes
- All percentage shares, splits, and breakdowns have been determined using secondary sources and verified through primary sources
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Atrial fibrillation is the primary application areas of the global cardiac mapping market
The market is segmented into atrial fibrillation, atrial flutter, atrioventricular nodal reentry tachycardia (AVNRT), other arrhythmias. The atrial fibrillation segment estimated to command the largest share of the market in 2019, and this segment is also projected to register the highest CAGR owing to the rise in incidences of AF worldwide and the subsequent increase in the ablation procedures.
Geographical View in-detailed:
North America held the largest share of the market in 2019 and is projected to continue to do so during the forecast period. Factors such as the increase in approval rate of mapping systems and clinical trials validating cardiac mapping systems in the US, high incidence of CVDs, growing focus of government organizations on providing funding for research, and increasing geriatric population in Canada are driving the North American cardiac mapping market.
Key Market Players;
The major vendors in the cardiac mapping market include Biosense Webster (US), Abbott (US), and Boston Scientific Corporation (US). These leading players offer a strong suit of products for cardiac mapping and have a broad geographic presence. The other players in this market include Medtronic (Ireland), MicroPort Scientific Corporation (China), EP Solutions SA (Switzerland), Acutus Medical (US), Koninklijke Philips N.V. (Royal Philips) (Netherlands), Lepu Medical (China), BIOTRONIK (Germany), AngioDynamics (US), BioSig Technologies (US), APN Health (US), CoreMap (US), Kardium (Canada), Catheter Precision (US), and Epmap-System (Germany).
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Biosense Webster (US) held the dominant position in the cardiac mapping market in 2018. The large share of this company can be attributed to its strong suite of cardiac mapping systems, software, and catheters. The company provides products mainly targeted at the diagnosis and treatment of several cardiac arrhythmias, such as atrial fibrillation. Moreover, the firm has a strong geographic presence in all regions of the world. The company focuses on product launches to create a strong foothold in the market. In 2019, Biosense introduced the CARTONET, a cloud-based networking and data analytics software solution.
Abbott (US) held the second-largest share of the cardiac mapping market in 2018. The company offers an advanced EnSite Precision cardiac mapping system, along with sensor-enabled catheters compatible with the mapping system. The firm’s Cardiovascular and Neuromodulation Products segment offers rhythm management, electrophysiology, heart failure, vascular, and structural heart devices for the treatment of cardiovascular diseases. The firm focuses on organic & inorganic growth strategies. For instance, in 2018, the company received the US FDA approval for its Advisor HD Grid Mapping Catheter, Sensor Enabled, which can help optimize the accuracy of the cardiac image when paired with the EnSite Precision cardiac mapping system. Moreover, the company acquired St. Jude Medical (US), in 2017, thus expanding its product portfolio in cardiac rhythm management and electrophysiology market.
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Mr. Aashish Mehra
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raviraj.tak@marketsandmarkets.com
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