by Pulsed field ablation is a cardiac ablation technique used to treat various arrhythmias such as atrial fibrillation. It involves using pulsed electric fields to selectively target, ablate and destroy faulty heart tissue that causes irregular heartbeats. This cardiac ablation technique offers several advantages over other techniques such as radiofrequency and cryoablation as it can be performed without causing any tissue damage to the surrounding healthy cardiac tissues. The growing prevalence of atrial fibrillation across the globe has increased the demand for effective treatment options like pulsed field ablation.
The Pulsed Field Ablation Market is estimated to be valued at US$ 3.52 Bn in 2024 and is expected to exhibit a CAGR of 7.8% over the forecast period 2024-2031.
Key Takeaways
Key players operating in the Pulsed Field Ablation market are Medtronic, Boston Scientific, Johnson & Johnson (Biosense Webster), Abbott Laboratories, Kardium. Medtronic and Boston Scientific currently dominate the market.
The growing geriatric population susceptible to developing atrial fibrillation and technological advancements in pulsed field ablation systems present lucrative growth opportunities in the market.
Numerous market players are focused on expanding their global footprint especially in emerging markets of Asia Pacific and Latin America. For instance, Abbott Laboratories received FDA approval to market its cardiac ablation catheter system in Japan in 2022.
Market Drivers
The rising prevalence of atrial fibrillation globally is the major factor driving the growth of the pulsed field ablation market. According to the WHO, atrial fibrillation affects over 33 million people worldwide and the number is projected to increase to over 60 million by 2030. The low risk of complications associated with pulsed field ablation such as cardiac tamponade as compared to other ablation techniques boosts its adoption rate among healthcare professionals.
PEST Analysis
Political: Regulations around the use of medical devices have a significant impact on the adoption of pulsed field ablation products. Stringent approval processes and changing standards affect product development timelines and market entry.
Economic: The overall growth of the healthcare industry and rising healthcare expenditures positively influence the market. Demand increases with growing aging population and rising incidence of chronic diseases that require minimally invasive treatment procedures.
Social: Increasing awareness about various disease conditions and availability of innovative treatment options drive patients to opt for pulsed field ablation. Growth in medical tourism also contributes to market growth.
Technological: Continuous innovation leads to development of more advanced products with improved features and therapeutic efficacy. Design automation and digitalization help improve outcomes. Adoption of robotics, artificial intelligence and connected devices open new opportunities.
North America dominates the pulsed field ablation market, both in terms of value and volume, owing to presence of major players, high awareness, and growing prevalence of atrial fibrillation cases. Asia Pacific is projected to witness the fastest growth during the forecast period owing to increasing healthcare expenditures, rising medical tourism, growing geriatric population and economic growth of countries such as China and India.
The European region is also a major contributor to market value and is expected expand steadily supported by availability of technologically advanced products, favorable reimbursement policies and large research funding. While the market in Middle East & Africa and Latin America are still in the developmental stage, growing medical infrastructure and awareness would drive future demand.
What Are The Key Data Covered In This Pulsed Field Ablation Market Report?
:- Market CAGR throughout the predicted period
:- Comprehensive information on the aspects that will drive the Pulsed Field Ablation Market’s growth between 2024 and 2031.
:- Accurate calculation of the size of the Pulsed Field Ablation Market and its contribution to the market, with emphasis on the parent market
:- Realistic forecasts of future trends and changes in consumer behaviour
:- Pulsed Field Ablation Market Industry Growth in North America, APAC, Europe, South America, the Middle East, and Africa
:- A complete examination of the market’s competitive landscape, as well as extensive information on vendors
:- Detailed examination of the factors that will impede the expansion of Pulsed Field Ablation Market vendors
FAQ’s
Q.1 What are the main factors influencing the Pulsed Field Ablation Market?
Q.2 Which companies are the major sources in this industry?
Q.3 What are the market’s opportunities, risks, and general structure?
Q.4 Which of the top Pulsed Field Ablation Market companies compare in terms of sales, revenue, and prices?
Q.5 Which businesses serve as the Pulsed Field Ablation Market’s distributors, traders, and dealers?
Q.6 How are market types and applications and deals, revenue, and value explored?
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*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
About Author - Priya Pandey
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