London 14 March 2016: Technavio, the independent tech-focused global research firm, has published a report on the global ablation catheters market, which is predicted to grow at an impressive CAGR of almost 13% by 2020.
Global ablation catheters market segmentation by product
Source: Technavio
An important factor spurring the prospects for growth in this market is the increased focus on clinical trials. Recently, vendors have started investing in R&D to develop cost-effective and efficient devices with lower manufacturing costs. To prove the safety and efficacy profiles of their products, vendors conduct clinical trials. These trials also help vendors to fulfil the regulatory requirements for product approvals. For instance, positive results of St. Jude Medical’s clinical trial for the flexibility ablation catheter, an irrigated ablation catheter with a flexible tip, led the product to receive FDA approval in January 2015.
“Recent advances in technology have helped increase the efficiency of catheter ablation procedures and provide better medical support to both patients and surgeons. Robot-assisted navigation technologies enhance the visualization of the ablation catheter’s orientation and easy movement of needles, catheters, and electrode tips with precision and control within close-fitting spaces. Since robot-assisted catheter ablation procedures help reduce the duration of hospital stays, they can facilitate better cost management for patients,” says Brahadeesh Chandrasekaran, Lead Analyst, Healthcare & Lifesciences, Technavio Research.
“APAC offers a large patient pool owing to the rising prevalence of cardiovascular diseases. Countries, such as China, India, and Japan are undergoing rapid economic development and have improved their healthcare infrastructure to make high-quality treatment options available to the general populace. Since high-quality treatment is available at a lower cost in this region, there will be an influx of people from developed economies for availing these affordable services. This increase in medical tourism has compelled vendors such as Boston Scientific and Medtronic to launch their products in APAC.”
Market drivers –
- Increased prevalence of arrhythmia
- Advances in technology
- Focus on clinical trials
- Use of minimally invasive procedures
Market trends –
- Rise in public awareness
- Development of robot-assisted navigation technologies
- Demand for ablation catheters in APAC
Key vendors –
- Biosense Webster Inc. (a subsidiary of Johnson & Johnson)
- Boston Scientific Corp.
- Medtronic plc
- St. Jude Medical Inc.
To define the market circumstances in the next 3-4 years, Technavio analysts have conducted in-depth analysis of the impact of market drivers, challenges, and trends featuring data on product segmentations, vendor shares, growth rate by revenue and an evaluation of the different buying criteria in the order of importance.
If you are interested in more information on this topic and our upcoming research on the Global Ablation Catheters Market 2016-2020, please send an e-mail to media@TechNavio.com.
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