The global cardiac mapping market size is projected to reach USD 2.1 billion by 2024 from USD 1.4 billion in 2019 at a CAGR of 8.7%
NEW YORK, Jan. 21, 2020 /PRNewswire/ --
The cardiac mapping market is projected to grow at a CAGR of 8.7% during the forecast period.
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The global cardiac mapping market size is projected to reach USD 2.1 billion by 2024 from USD 1.4 billion in 2019 at a CAGR of 8.7%. The emergence of new entrants, growing investments, funds, and grants, increasing incidences of target diseases, and growth in the geriatric population are supporting the growth of this market. However, unfavorable healthcare reforms in the US and the lack of skilled & experienced electrophysiologists may restrain the market to a certain extent during the forecast period.
The contact cardiac mapping segment is projected to dominate the cardiac mapping products market during the forecast period.
The cardiac mapping products market has been segmented into contact cardiac mapping systems and non-contact cardiac mapping systems.The contact cardiac mapping systems segment further includes electroanatomical mapping, basket catheter mapping, and traditional endocardial mapping.
The contact cardiac mapping systems segment held the largest share of this market in 2018 and is also estimated to grow at the highest CAGR during the forecast period. Contact mapping systems are technologically more efficient and precise, hence, they provide higher accuracy, sensitivity, and efficiency in disease diagnosis and ablation.
The atrial fibrillation applications segment held the largest market share in 2018.
By indication, the cardiac mapping market is segmented into atrial fibrillation, atrial flutter, atrioventricular nodal reentry tachycardia (AVNRT), other arrhythmias.The atrial fibrillation segment accounted for the largest share of this market in 2018.
The large share of this segment can be attributed to the technological advancements in mapping systems and the rising incidences of AF and associated ablation procedures.
The North American cardiac mapping market is expected to hold the largest share during the forecast period.
Geographically, the cardiac mapping industry is segmented into North America, Europe, Asia Pacific (APAC), and the Rest of the World.North America is expected to hold the largest share of this market during the forecast period.
The increase in approval rate of mapping systems and clinical trials validating cardiac mapping systems in the US, high incidence of CVDs, and growing focus of government organizations on providing funding for cardiological research are the key factors driving the North American market.
Breakdown of supply-side primary interviews:
-- By Company Type: Tier 1 - 50%, Tier 2 - 30%, and Tier 3 - 20%
-- By Designation: C-level - 37%, Director-level - 29%, and Others - 34%
-- By Region: North America - 35%, Europe - 30%, APAC - 25%, and RoW - 10%
The major players in the cardiac mapping market include Biosense Webster (US), Abbott (US), Medtronic (Ireland), Boston Scientific Corporation (US), 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).
Research Coverage
This report studies the cardiac mapping market based on product, indication, and region.The report also studies factors (such as drivers, restraints, opportunities, and challenges) affecting the market growth.
It analyzes the opportunities and challenges in the market and provides details of the competitive landscape for market leaders. Furthermore, the report analyzes micro markets concerning their growth trends and forecasts the revenue of the market segments for four main regions and respective countries.
Key Benefits of Buying the Report
This report focuses on various levels of analysis--industry trends, market share of top players, and company profiles, which together form basic views and analyze the competitive landscape, emerging segments of the cardiac mapping market, and high-growth regions with their drivers, restraints, challenges, and opportunities. The report will help both established firms as well as new entrants/smaller firms to gauge the pulse of the market and garner greater market shares.
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