The global Cardiac Mapping Market was valued at USD 1.37 billion in 2022 and is expected to reach USD 2.66 billion by the year 2030, at a CAGR of 8.5%. Cardiac mapping is a technique by which electric activity is verified directly from the myocardium, examined, and presented in a specific manner.
Cardiac mapping is a wide-ranging term and includes various mapping modes such as endocardial rhythm, body surface, and epicardial mapping. Mapping the electrical activity of the heart is a critical process for the diagnosis and treatment of any heart disease. Many advanced therapies, including ablation for the treatment of arrhythmias, require detailed cardiac mapping. The rising prevalence of cardiac diseases across the world could be a significant driver for the industry. Various people suffer from cardiac diseases due to reduced quality of lifestyle followed in the developed countries. According to the(CDC) Centers for Disease Control and Prevention, around 2.7 million to 6.1 million people suffer from atrial fibrillation in the United States. Moreover, the number is expected to rise to 12.1 million by the year 2030.
Request a Sample@ https://www.qyresearchmedical.com/sample/119182
To raise safety and health awareness, multiple organizations like the World Health Organization (WHO) and government health agencies are continuously guiding combating health diseases. The investment in technology, Artificial Intelligence, and robotics to complement medical practices are also being practiced worldwide, especially in developed countries. The aftermath of the pandemic will be high intervention and high investment in the medical and healthcare sector. These factors are indicative of further growth in the Cardiac Mapping market.
The growing technological innovations in various developed areas is anticipated to drive the industry in the future. Moreover, multiple funds are being assigned to the research and development sector by various authorities to introduce new products into the industry. New entrants in the industry have increased the competition leading to the high growth of the healthcare sector. Furthermore, a rising number of efficient cardiologists in developed countries are expected to fuel the industry. The increasing number of hospital setups in developed countries is also expected to fuel market growth. The growing geriatric population across various regions is also expected to fuel the industry in the future. According to the estimates given by the UN organization, there were 703 million people aged 65 years or over in the world in 2022. The number is projected to increase to 1.5 billion by 2050.
The high cost of these devices and complex processes associated with cardiac mapping is expected to be the primary factors in restraining the industry. Furthermore, a lack of awareness about the cardiac mapping system is expected to be another significant restraint for the industry.
Based on the technology market is segmented into Contact cardiac mapping and non- contract cardiac mapping. Further Contact cardiac mapping is divided into Basket Catheter Mapping, Electro anatomical mapping, Real-time Positional Management (RPM) EP System, and Traditional Endocardial Catheter Mapping. Contact cardiac mapping is witnessed with the fastest growth in 2022. It offers detection of precise locations of ablation catheters and mapping in the 3D environment. Rising incidences of cardiovascular diseases among pediatric and neonatal owing to an inactive lifestyle and rise in obesity are the critical factors for the growth. Furthermore, major players are also coming up with specific ventricular tachycardia and supraventricular tachycardia, enhancing the non-contact mapping system segment\’s growth.
Based on the application market is segmented into Atrial Fibrillation, AV nodal reentrant tachycardia (AVNRT), Atrial Flutter, Others. The Atrial Fibrillation is anticipated to observe beneficial increase rates due to the dramatic rise in the occurrence of Cardiac mapping in the developed nation atrial fibrillation, widely used for Characterization, of arrhythmia. Recognition of the exact locations of ablation and luring catheters in a 3D ecosystem, also alongside with multi-electrode basket catheter, taping just a few beats could be enough to uncover the arrhythmia circuit; these reasons are expanding its adoption. Therefore, the requirement for cardiac mapping devices for identifying complex arrhythmias is also increasing.
End Use Outlook:
By End-use market has been segmented into Hospitals, Clinics, Diagnostics and Imaging centers, and Others. The segment of Hospitals for Cardiac Mapping is anticipated to have a significant CAGR during the forecast period. Technological advancements in Cardiac mapping and rapid expansion of the distribution network of product manufacturers for widespread availability of contract cardiac mapping are the factors providing traction to the market during the forecast period. The key driver for the market growth includes the rising prevalence of growing cardiac diseases worldwide; initiatives are taken up by the private bodies are also influencing the market growth.
North America led the market, with a revenue of USD 477 million in 2022 due to the existence of many Cardiac mapping manufacturers. Features such as surge in endorsement amount of mapping systems and clinical trials validating cardiac mapping in the United States, extreme occurrence of CVDs, rising effort of government establishments on providing capital for research, and growing geriatric populace in Canada are driving the North American cardiac mapping market. The district is expected to remain leading in the entire forecast period, due to the combination of technology with health care in health care capabilities in North America. Europe is projected to represent an important market share throughout the forecast period. Rise in the number of the dominant cardiologists in Australia and India and there is a growing awareness about cardiac mapping practices in these nations. This is a critical factor for the projected development of the market in the Asia Pacific at a significant CAGR during the projected period.
- The North American regional segment held the largest share in the Cardiac Mapping industry of 34.7% in the year 2022. The industry is dominated in this region due to presence of major key players in the region and reduced quality of lifestyle.
- The contact cardiac mapping segment is expected to reach USD 1,549.59 million by the year 2030, showing significant growth during the forecast period.
- In 2022, non-contact cardiac mapping segment was valued at USD 588.9 million and is expected to grow at a high CAGR of 8.1%.
- The atrial fibrillation segment is expected to grow with a CAGR of 8.4% during the forecast period owing to high patient population.
- The European region has occupied 31.8% of the industry and is expected to grow in the forecast period.
- Asia-Pacific regional segment of the sector is expected to remain highest growing segment during 2022-2030, at a CAGR of 9.8%. This regional healthcare sector is widely driven by rising geriatric population in the region.
Companies considered and profiled in this market study
The key players in the global Cardiac Mapping includes companies such as Abbott, Boston Scientific Corporation, Medtronic, EP Solutions SA, Acutus Medical, Biosense Webster, Koninklijke Philips N.V., Epmap-System, MicroPort Scientific Corporation and CoreMap
The players operating in the market have undertaken several strategies related to the market in the period 2022-2020. The key highlight is:
- Various key players have launched their products in different regions to expand their sales. For instance, in November 2022, a cardiology devices developer, Baylis Medical launched its 2 French (2F) EPstar fixed electrophysiology catheter in the United States.
- Furthermore, the device is capable of deep examination including mapping and is generally used to diagnose complex atrial tachycardias, idiopathic ventricular tachycardias and left Wolff-Parkinson-White Syndrome
- In 2022, Philips and Medtronic entered a collaboration to develop an image guided treatment for paroxysmal atrial fibrillation (PAF), which is a type of heart rhythm disorder.
- Furthermore, Philips’ KODEX-EPD navigation system and dielectric imaging, clinical software, dielectric imaging sensors, and services will support cryoablation procedures completed using the Medtronic Arctic Front Advance cryoablation technology.
- Increasing merger and acquisitions are expected to drive the market growth in future. For instance, in 2022, Acutuc medical entered a collaboration with Peerbridge health. The merger facilitates use of AcQMap system in combination with Peerbridge Cor, an ECG product that detects different types of arrythmias
- In June 2022, Abbott launched HD grid mapping catheter, it was reviewed by US FDA clearance in may 2018, it allows new design to physicians for detailed analysis of heart map which help them to differentiate between healthy and unhealthy tissue.
The industry offers numerous growth opportunities. Thus, several startups providing innovative products and technologies have been entering the market. The untapped potential in emerging economics will help the startup companies to gain traction during the forecast period.
Mergers and Acquisitions are an integral part of the Cardiac Mapping market. Along with the companies operating in the market, other key market players have also been entering the industry.
- in May 2022, Acutus Medical expanded its AFib offering by announcing the new strategic agreement and partnership with peerbridge health, cardiac design, and MedFact., and also acquired Rhythm xience, Inc enhancing its world class cardiac access.
Reports and Data forecast promising developments for increased adoption of Cardiac Mapping. The companies are designing new product concepts according to the current customer expectations coupled with best clinical outcome. According to industry experts, new manufacturers are expected to enter the market, which is likely to change the market dynamics. The outbreak of the COVID-19 has resulted in more than a million deaths. Government authorities are increasingly concerned about the health and safety of citizens and healthcare workers New companies entering the industry would focus on innovating and providing through advanced technologies, thereby reducing complexity, and lowering the overall total cost of operation.
Segments Covered in the report
This report forecasts revenue growth at a global, regional & country level, and provides an analysis of the market trends in each of the sub-segments from 2022 to 2030. The scope of the report can be defined as:
For the purpose of this report, have segmented into the global Cardiac Mapping market on the basis of type of test, product, end use, and region:
Technology Outlook (Revenue in Million USD; 2022–2030)
- Contact Cardiac Mapping
- Basket Catheter Mapping
- Electro anatomical mapping
- Real-time Positional Management (RPM) EP System
- Traditional Endocardial Catheter Mapping
- Non- Contact Cardiac Mapping
Application Outlook (Revenue in Million USD; 2022–2030)
- Atrial Fibrillation
- Atrial flutter
- AV-nodal reentrant tachycardia (AVNRT)
End-use Outlook (Revenue in Million USD; 2022–2030)
- Diagnostic and Imaging Centers
Regional Outlook (Revenue in Million USD; 2022–2030)
- North America
- Rest of the Europe
- Asia Pacific
- Rest of Asia-Pacific
- Middle East & Africa
- Latin America
Buy quantitative research Report at discounted price – USD 1500 https://www.qyresearchmedical.com/report/checkout/119182/1500
You can place an order or ask any questions, please feel free to contact [email protected] | +1 9197 992 333
QYResearch Medical has more than 4000 global well-known customers, covering more than 30 industries including pharmaceuticals, medical technology & devices, healthcare services etc. Company services cover one-stop solution as Data-Analysis-Suggestion-Consulting Implementation. Research regions cover North America, Europe, Latin America, Middle East and Africa, Asia- Pacific.
For Latest Update Follow Us:
URL – http://www.qyresearchmedical.com/