(PharmaNewsWire.Com, April 22, 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" the global cardiac mapping systems market size is expected to reach USD 2.1 billion by 2024 from USD 1.4 billion in 2019, at a CAGR of 8.7%.
The inclusion of new entrants in the market, growing investments, funds, and grants, increasing incidence of target diseases, and growth in the geriatric population are the key drivers of the cardiac mapping systems market.
What is the projected market value of the global cardiac mapping market?
-> The global market of cardiac mapping is projected to reach USD 2.1 billion by 2024.
What is the estimated growth rate (CAGR) of the cardiac mapping market for the next 5 years?
-> The global cardiac mapping market is projected to grow at a Compound Annual Growth Rate (CAGR) of 8.7% from 2019 to 2024.
Contact cardiac mapping are estimated to account for the largest share of the cardiac mapping systems product market in 2019;
The contact cardiac mapping systems market is segmented into contact cardiac mapping systems and non-contact cardiac mapping systems. The contact cardiac mapping systems segment is divided further into electroanatomical mapping, basket catheter mapping, and traditional endocardial mapping. The contact cardiac mapping systems segment held the largest share of the cardiac mapping systems market in 2019. The advantages offered by contact cardiac mapping systems, such as detection of the precise locations of mapping and ablation catheters in a three-dimensional environment and requirement of just a few beats recordings might uncover the arrhythmia circuit, are the major factors driving the growth of this product segment.
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 systems market.
Global Key Leaders:
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).
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.
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