Cardiac Cryoablation Devices Market Size and Forecasts (2021 - 2031), Global and Regional Share, Trends, and Growth Opportunity Analysis

MARKET OVERVIEW

A cardiac cryoablation device is a medical instrument used to treat arrhythmias, also known as abnormal heart rhythms. In this procedure extreme colds is used to destroy abnormal tissue in the heart that causes arrhythmias. The cold temperature causes the cells in the targeted area to freeze, correcting the arrhythmia. This device treats conditions like ventricular tachycardia, atrial flutter, and atrial fibrillation. These can be used in both minimally invasive procedures and open-heart and be effective and safe in many cases.

The “Global Cardiac Cryoablation Devices Market Analysis to 2031” is a specialized and in-depth study of the medical devices industry with a special focus on global market trend analysis. The report aims to provide an overview of the cardiac cryoablation devices Market with detailed market segmentation by product, application, end user, and geography. The report provides key statistics on the market status of the leading cardiac cryoablation devices market players and offers key trends and opportunities in the market.

MARKET DRIVERS

Factors driving the cardiac cryoablation devices market are the rising prevalence of arrhythmias, technological advancement in the field of cardiac cryoablation, and increasing the demand for minimally invasive procedures. However, more cryoablation devices and high costs associated with the procedures are needed.

The advancement in the field of cardiac cryoablation is boosting the cardiac cryoablation devices market growth. It significantly improved the treatment options for cardiac arrhythmias. Cryoablation is a minimally invasive procedure that involves using extremely cold temperatures to create scares in the heart tissues disrupting abnormal electrical pathways that cause arrhythmias. Recent innovations have focused on precision, safety, and outcomes for patients with cardiac arrhythmias. These innovations continue to shape the field, making cryoablation an increasingly effective and viable treatment option for various cardiac rhythm disorders. Additionally, the incorporation of robotic-assisted systems in cardiac cryoablation has brought automation and improved control to the procedures. Robotic platforms assist in catheter manipulation and enable more precise movements, reducing human error and enhancing procedural safety. The catheters utilize advanced cryogenic substances and cooling technologies to rapidly freeze targeted tissue areas allowing for more precise lesion formation. Thus, technological advancement in the field of cardiac cryoablation is fueling the cardiac cryoablation devices market growth.

GLOBAL SEGMENTAL ANALYSIS

The global cardiac cryoablation devices market is segmented into products, application, and end user. The product segment is further sub segmented as systems, catheters, and others. Based on application, the market is segmented into atrial fibrillation, ventricular tachycardia, and others. Based on end user, the market is segmented into hospitals, specialty centers, ambulatory surgical centers, and others.

Based on the end user, the hospital’s segment dominates the global cardiac cryoablation devices market share. The hospital segment in the cryoablation device market held the largest share. This is attributed to an increase in cardiovascular diseases that are enhancing the number of cardiac arrhythmia surgeries, one of the most common surgeries performed worldwide, and the procedure primarily occurs in hospitals. This type of operation represents more resources allocated in the cardiovascular area than in any other procedure. Insurance firms are paying for health care services, including the cost of ligatures in advanced countries. Thus, the hospital segment drives the growth of the cardiac cryoablation devices market.

REGIONAL FRAMEWORK

The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides cardiac cryoablation devices market size and forecast estimates from the year 2021 to 2031 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East & Africa (MEA), and South & central America. The cardiac cryoablation devices market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.

The report analyzes factors affecting the market from both the demand and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trends. The report also provides an exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social and technological factors affecting the cardiac cryoablation devices market in these regions.

North America is dominated by a revenue share anticipated to remain constant over the forecast period. The rise in the number of imaging and diagnostic centers and augmented consciousness about minimally invasive techniques and other factor. The growth in the regional market for cryoablation devices is also expected to be supported by a growing emphasis on minimally invasive procedures rather than traditional methods and increasing adoption of cryoablation devices throughout North America.

MARKET PLAYERS

The report covers key developments in the cardiac cryoablation devices market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals, and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved the way for the expansion of business and the customer base of market players. The market payers from the cardiac cryoablation devices market are anticipated to have lucrative growth opportunities in the future with the rising demand for cardiac cryoablation devices in the global market.

The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the cardiac cryoablation devices market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.

• Boston Scientific Corporation
• Medtronic
• Micro Port Scientific Corporation
• ATRICURE, INC.
• CPSI Biotech
• Premier Health
• GALIL MEDICAL INC.
• METRUM CRYOFLEX Sp. z o.o.
• ICECURE MEDICAL
• SANARUS TECHNOLOGIES

Recent Developments

• In June 2021, Medtronic plc received U.S. Food and Drug Administration (FDA) expanded approval for the Arctic Front Family of Cardiac Cryoablation Catheters for the treatment of recurrent symptomatic paroxysmal atrial fibrillation therapy as an initial rhythm control strategy. Medtronic has received clearance from the US Food and Drug Administration to market Freezor and Freezor Xtra Cardiac Cryoablation Catheters.
• In June 2021, Boston Scientific announced that the US is launching a diagnostic tool to monitor the effect of RFRF in cardiac ablation procedures, called DIRECTSENSETM.
• In On April 05, 2021, IceCure Medical won the FDA breakthrough device designation for the cryoablation system.
• In Feb 2021, AtriCure used the cryoICE Ablation System to treat the first Afib patient. Medical technologies developer AtriCure has started enrolment and treatment in the prospective ICE-AFIB clinical trial of its cryoICE Ablation System in atrial fibrillation (Afib) patients. To assess the safety and effectiveness of ICEFIB in up to 150 patients who have persisted with a persistent disease for a continuous period, this multiCenter, Single arm study is being conducted.

The Insight Partner’s dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.

Cardiac Cryoablation Devices Report Scope