Overview:
The study involved four major activities in estimating the current size of the cardiac mapping market. Exhaustive secondary research was done to collect information on the market and its different subsegments.
The next step was to validate these findings, assumptions, and sizing with industry experts across the value chain through primary research. Both top-down and bottom-up approaches were employed to estimate the total market size. After that, the market breakdown and data triangulation was used to estimate the market size of segments and subsegments.
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Expected Revenue Surge:
The global cardiac mapping 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%.
Major Growth Boosting Factors:
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.
Contact cardiac mapping are estimated to account for the largest share of the cardiac mapping systems product market in 2019
The contact cardiac mapping 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.
Atrial fibrillation is the primary application areas of the global cardiac mapping market
The market is segmented into atrial fibrillation, atrial flutter, atrioventricular nodal reentry tachycardia (AVNRT), other arrhythmias. The atrial fibrillation segment estimated to command the largest share of the market in 2019, and this segment is also projected to register the highest CAGR owing to the rise in incidences of AF worldwide and the subsequent increase in the ablation procedures.
The APAC cardiac mapping market to grow at the highest CAGR during the forecast period
While North America is expected to dominate the global cardiac mapping industry in 2019, the Asia Pacific region is expected to register the highest CAGR during the forecast period. The high growth in this region can be attributed to the large population, increasing geriatric population, the growing incidence of chronic diseases, rising healthcare spending, healthcare reforms for infrastructural development, and growing demand for advanced technologies.
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Key Players:
The major players operating in the cardiac mapping market include Biosense Webster (US), Abbott (US), and Boston Scientific Corporation (US). 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).
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