Cardiac Mapping Market Research, 2031
The global cardiac mapping market size was valued at $2.6 billion in 2021, and is projected to reach $4.6 billion by 2031, growing at a CAGR of 5.7% from 2022 to 2031. Cardiac mapping is the measurement of the electrical activity of the heart that helps doctors diagnose and give cardiovascular disease predictions. These devices capture electrical signals sent by a particular catheter and store patient information. Electro-physiologists often use this very efficient instrument to identify the location of heart chambers that are experiencing arrhythmia or irregular heart rhythms. The cardiac mapping market size is anticipated to grow as a result of the rising prevalence of cardiovascular disorders and also due to the rise in geriatric population. According to the Centers for Disease Control and Prevention, CDC, 12.1 million people in the U.S. are expected to have atrial fibrillation by 2030.
Also, the COVID-19 pandemic has had an impact on people's lifestyles, resulting in numerous consequences like hypertension, cholesterol, diabetes, and obesity, which can cause strokes, cardiac arrests, or deadly heart attacks. In addition, excessive alcohol consumption increases the risk of atrial fibrillation. Hence, these factors lead to the increase in the demand for the cardiac mapping devices.
Furthermore, key market players are investing on a large scale in R&D and manufacturing of the innovative products. Increase in technological improvements is expected to boost the market expansion during the cardiac mapping market forecast period, due to faster results, greater precision, and greater efficacy as compared to the existing technologies in use. In addition to this, launch of new products and building a strong product portfolio is the major focus of the players.
In additio, the drivers contributing to the market are the growing prevalence of the healthcare associated diseases, increasing number of surgeries around the globe, and rising number of public and private hospitals. In addition, in June 2021, World Health Organization (WHO), published a list of priority medical devices for management of cardiovascular diseases and diabetes, which will help policy-makers and health-care providers prioritize the selection and use of medical devices for these health conditions as it includes more than 500 devices that are required for health emergencies, such as cardiac arrest, stroke, and hypo or hyperglycemic emergencies. This initiative by government is expected to further lead to rise in demand for the devices associated with heart diseases.
These drivers provide a favorable environment for increasing sales of products and also for the cardiac mapping market growth. However, the market may be somewhat constrained during the forecast period due to scarcity of knowledgeable and experienced electrophysiologists and high cost of the cardiac mapping technique.
Impact of COVID-19 on Cardiac Mapping Market
The COVID-19 pandemic proved to be an incomparable global public health emergency that has affected almost every industry, and the effects are expected to impact every industry growth during the forecast period. Several changes in consumer demand and behavior, buying habits, supply chain redirection, and significant government initiatives have been seen around the globe. The COVID-19 pandemic has changed the nutrition pattern, other substance use, and other health-related behaviors of the population. In addition, many people who suffered from the COVID-19 had cardiovascular diseases or they developed it during the course of the illness, which highlighted the demand for the cardiovascular treatments and related devices, further causing a positive impact on the cardiac mapping market share.
The cardiac mapping market is segmented into End User, Product and Indication.
The cardiac mapping market is segmented on the basis of product, indication, end user, and region. By product, it is divided into contact cardiac mapping systems and non-contact cardiac mapping systems. Further, the contact cardiac mapping systems segment is divided into electroanatomical mapping, basket catheter mapping, and traditional endocardial catheter mapping. On the basis of indication, the market is segmented into atrial fibrillation, atrial flutter, AVNRT, and others. According to end user, the market is segmented into hospitals, clinics, and others.
Region-wise, the market is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, France, UK, Italy, Spain, and rest of Europe), Asia-Pacific (Japan, China, Australia, India, South Korea, and rest of Asia-Pacific), and LAMEA (Brazil, Saudi Arabia, South Africa, and rest of LAMEA).
Segment Review
According to the product type, the contact cardiac mapping systems segment was the largest segment in the 2021. However, the non-contact cardiac mapping systems segment is expected to grow at a highest CAGR during the forecast period, due to increase in the number of heart diseases and rise in usage of new technologies in the treatment of the cardiovascular diseases. In addition, the rise in investment for R&D of the advanced and precise diagnostic tools by public and private players in the market is the key factor responsible for the expansion of the cardiac mapping market.
By indication, the atrial fibrillation segment holds the largest share of the global cardiac mapping market in 2021. This is mainly due to increase in demand for cardiac mapping systems due to increase in the number of cases associated with atrial fibrillation, whereas the atrial flutter segment is expected to grow at the fastest rate at a CAGR during the forecast period.
By end user, the hospitals owned the largest share of the market in 2021, because of adoption for advanced and precise diagnostic tools by interventional cardiologists in hospitals and is also expected to grow at the highest CAGR during the forecast period. Also, increase in adoption of these technologies by the interventional cardiologists in hospitals lead to the growth of the segment.
Region-wise, North America acquired a major share of the market in the year 2021, owing to the presence of key players, rising government initiatives, well-developed healthcare infrastructure, and rising prevalence of health issues. However, Asia-Pacific is expected to witness the highest growth rate at a CAGR for the cardiac mapping market during the forecast period due to the investments by the public and private market players in this field. However, the market is expected to be significantly constrained due to factors such as lack of awareness about these systems in developing nations, expensive price, and minor risks involved in the cardiac mapping operation.
The major companies profiled in this cardiac mapping industry report include, Abbott Laboratories, Acutus Medical Inc., APN Healthcare, BioSig Technologies, Boston Bioscientific Corporation, EPMap Systems, Johnson And Johnson (Biosense Webster), Kardium Inc., Koninklijke Philips, Lepu Medical Technology, Medtronic Plc., MicroPort Scientific Corporation, and others.
Key Benefits For Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the cardiac mapping market analysis from 2021 to 2031 to identify the prevailing cardiac mapping market opportunity.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the cardiac mapping market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global cardiac mapping market trends, key players, market segments, application areas, and market growth strategies.
Cardiac Mapping Market Report Highlights
| Aspects | Details |
 Market Size By 2031 | USD 4.6 billion |
 Growth Rate | CAGR of 5.7% |
 Forecast period | 2021 - 2031 |
 Report Pages | 310 |
 By End User |
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 By Product |
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 By Indication |
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 By Region |
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 Key Market Players | Boston Bioscientific Corporation, EPMap Systems, Abbott Laboratories, APN Healthcare, Johnson and Johnson (Biosense Webster), Lepu Medical Technology, Acutus Medical Inc., Kardium Inc., MicroPort Scientific Corporation, Medtronic Plc., BioSig Technologies, Koninklijke Philips |
 Other Players | BIOTRONIK, Koninklijke Philips N.V, Biosig Technologies, Inc. |
Analyst Review
This section provides various opinions of top-level CXOs in the cardiac mapping market. The cardiac mapping market has piqued the interest of healthcare providers, patients, and consumers, owing to several benefits offered by these products, which helps the cardiologist find out what is causing a heart rhythm problem like arrhythmia. There have been remarkable advancements in development of cardiac mapping systems to provide advanced options for cardiological treatment. As the market is saturated and is growing at a steady rate in developed nations, Asia-Pacific and LAMEA are expected to offer high growth opportunities to key players in this market.
According to the perspectives of CXOs of leading companies in the market, significant advancements in the cardiac mapping systems with increase in clinically backed research, growing investments, funds, and grants, increasing incidence of target diseases, entry of new players, and growth in the geriatric population are projected to increase the sale of cardiac mapping systems globally. Presently, rapid adoption of these products due to COVID-19 is witnessed globally as many people who suffered from the COVID-19 had cardio vascular diseases or they developed it during the course of the illness.
The upcoming trends of Cardiac Mapping Market includes rising government initiatives, well-developed healthcare infrastructure, and rising prevalence of health issues.
Cardiovascular disease is the leading application of Cardiac Mapping Market.
North America is the largest regional market for Cardiac Mapping.
Cardiac Mapping is projected to reach $4,572.17 million by 2031, registering a CAGR of 5.7% from 2022 to 2031.
The major companies profiled in this report include, Abbott Laboratories, Acutus Medical Inc., APN Healthcare, BioSig Technologies, Boston Bioscientific Corporation, EPMap Systems, Johnson & Johnson (Biosense Webster), Kardium Inc., Koninklijke Philips, Lepu Medical Technology, Medtronic Plc., MicroPort Scientific Corporation, and others.
The base year is 2021 in Cardiac Mapping market.
Yes, the Cardiac Mapping market report provides PORTER Analysis.
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