(PharmaNewsWire.Com, April 08, 2020 ) Market Overview The global ablationcatheters market is expected to grow at a CAGR of 10.70% to reach a market value of USD YY million by 2027. Ablation is the removal of a part of biological tissue, usually by surgery. Surface ablation of the skin (dermabrasion) is carried out by lasers (laser ablation), chemicals (chemoablation), by freezing (cryoablation), or by electricity (fulguration). Catheter ablation is a minimally invasive procedure in which a physician advances a flexible thin tube (catheter) through the blood vessels of the heart to ablate (stop) abnormal electrical pathways (signals) in the heart tissue.
Market Dynamics The global market for ablation catheters is primarily driven by the rise in the prevalence of cardiac arrhythmia with the increase of the elderly population. The rising prevalence of Coronary Artery Disease (CAD) is one of the major driving factor leading to the growth of the ablation catheters market. CAD is the most prominent cause of death globally and is expected to drive during the forecast period. According to WHO, it is estimated that CAD will be responsible for a total of 11.1 million deaths, globally by 2020. In Europe, one in every seven European women dies of CAD, and in case of men, the percentage varies from 16% to 25%. In addition to its impact on mortality, CAD is a leading cause of morbidity and loss of quality of life. This makes CAD a significant public health problem, exerting massive economic costs. Advances in healthcare led companies to develop innovative ablation catheters that help reduce the procedural duration and offer better ablation than previous generation devices. Next-generation advanced devices are safe, efficient, and cost-effective and provide better outcomes. For instance, Boston Scientifics IntellaTip MiFi XP Temperature Ablation Catheter is one such device that uses MicroFidelity (MiFi) sensor technology with embedded mini-electrodes on the tip. However, the risk associated with ablation procedures, the high cost of ablation procedures, stringent regulatory approval process and lack of skilled electrophysiologists may hinder the market progress.
Market Segmentation By Product type, the ablation catheters market is segmented into multielectrode ablation catheters and single point ablation catheters. The multielectrode ablation catheters share the most established market due to its prominent advantages reduce the duration of ablation procedures, improve the making of contiguous lesions, and prevent certain complications associated with unipolar RF energy. By procedures, the supraventricular tachycardia ablation holds a significant share in terms of volume for the year 2018, followed by Atrial fibrillation ablation. Supraventricular tachycardia is the abnormal electrical activity that originates at or above the atrioventricular node in the heart. For instance, the Wolff-Parkinson-White syndrome can short circuit the hearts electrical system due to the abnormal electrical connection between the atria and ventricles, causing this condition.
Geographical Analysis North America market accounted for the largest share in the ablation catheters market. It is attributed to the increasing prevalence of patients with chronic illnesses along with the rapid adoption of minimal-invasive therapies. To reduce healthcare expenditure and provide improved medical outcomes, companies such as Biosense Webster, Boston Scientific, and Medtronic, are developing innovative ablation catheters. For instance, on April 30, 2018, LuxCath LLC a medical technology company addresses persistent unmet needs in the catheter ablation treatment of cardiac arrhythmias, has showcased the OmniView light-guided ablation catheter an only technology which can see into tissue during cardiac ablation and assess catheter-tissue contact and lesion progression in real time. The growing research funding and technological advancements are other factors that help the market see profitable growth. The Asia Pacific is expected to be the fastest growing share owing it to its vast and diverse patient pool, development in healthcare infrastructure and improving economic conditions, in urbanization & disposable income, and growing awareness about ablation catheters.
Competitive Trends Key players are adopting strategies such as product launches, mergers and acquisitions, partnerships, and regional expansion to stand out as strong competitors in the market. New product launches along with increased focus on R&D are other ways the leading players improve their market presence. On January 21, 2019, Abbott received U.S. Food and Drug Administration (FDA) approval of the TactiCath Contact Force Ablation Catheter, Sensor Enabled, a new ablation catheter designed to help physicians accurately and effectively treat atrial fibrillation (AFib) In February 2019, Biosense Webster enrolled and managed the first patient in its U.S. Investigational Device Exemption (IDE) study evaluating the companys QDot Micro radiofrequency (RF) ablation catheter in the treatment of symptomatic drug-refractory paroxysmal atrial fibrillation (AF) In June 2018, Philips Healthcare had an agreement to acquired EPD Solutions, a provider of image-guidance in catheter ablation procedures for cardiac arrhythmias, for 292 million Euros In 2015, AtricCure acquired nContact, a privately-held developer of innovative cardiac ablation solutions.
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