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 2028” 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.
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 2020 to 2028 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.
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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 2020 to 2028 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 2020, 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 2019, 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.
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Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
This text is related
to segments covered.
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
This text is related
to country scope.
TABLE OF CONTENTS
1. INTRODUCTION
1.1. SCOPE OF THE STUDY
1.2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3. MARKET SEGMENTATION
1.3.1 Cardiac Cryoablation Devices Market - By Product
1.3.2 Cardiac Cryoablation Devices Market - By Application
1.3.3 Cardiac Cryoablation Devices Market - By End-User
1.3.4 Cardiac Cryoablation Devices Market - By Region
1.3.4.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. CARDIAC CRYOABLATION DEVICES MARKET LANDSCAPE
4.1. OVERVIEW
4.2. PEST ANALYSIS
4.2.1 North America - Pest Analysis
4.2.2 Europe - Pest Analysis
4.2.3 Asia-Pacific - Pest Analysis
4.2.4 Middle East and Africa - Pest Analysis
4.2.5 South and Central America - Pest Analysis
4.3. EXPERT OPINIONS
5. CARDIAC CRYOABLATION DEVICES MARKET - KEY MARKET DYNAMICS
5.1. KEY MARKET DRIVERS
5.2. KEY MARKET RESTRAINTS
5.3. KEY MARKET OPPORTUNITIES
5.4. FUTURE TRENDS
5.5. IMPACT ANALYSIS OF DRIVERS AND RESTRAINTS
6. CARDIAC CRYOABLATION DEVICES MARKET - GLOBAL MARKET ANALYSIS
6.1. CARDIAC CRYOABLATION DEVICES - GLOBAL MARKET OVERVIEW
6.2. CARDIAC CRYOABLATION DEVICES - GLOBAL MARKET AND FORECAST TO 2030
6.3. MARKET POSITIONING
7. CARDIAC CRYOABLATION DEVICES MARKET - REVENUE AND FORECASTS TO 2030 - PRODUCT
7.1. OVERVIEW
7.2. PRODUCT MARKET FORECASTS AND ANALYSIS
7.3. SYSTEMS
7.3.1. Overview
7.3.2. Systems Market Forecast and Analysis
7.4. CATHETERS
7.4.1. Overview
7.4.2. Catheters Market Forecast and Analysis
7.5. OTHERS
7.5.1. Overview
7.5.2. Others Market Forecast and Analysis
8. CARDIAC CRYOABLATION DEVICES MARKET - REVENUE AND FORECASTS TO 2030 - APPLICATION
8.1. OVERVIEW
8.2. APPLICATION MARKET FORECASTS AND ANALYSIS
8.3. ATRIAL FIBRILLATION
8.3.1. Overview
8.3.2. Atrial Fibrillation Market Forecast and Analysis
8.4. VENTRICULAR TACHYCARDIA
8.4.1. Overview
8.4.2. Ventricular Tachycardia Market Forecast and Analysis
8.5. OTHERS
8.5.1. Overview
8.5.2. Others Market Forecast and Analysis
9. CARDIAC CRYOABLATION DEVICES MARKET - REVENUE AND FORECASTS TO 2030 - END-USER
9.1. OVERVIEW
9.2. END-USER MARKET FORECASTS AND ANALYSIS
9.3. HOSPITALS
9.3.1. Overview
9.3.2. Hospitals Market Forecast and Analysis
9.4. SPECIALTY CENTERS
9.4.1. Overview
9.4.2. Specialty Centers Market Forecast and Analysis
9.5. AMBULATORY SURGICAL CENTERS
9.5.1. Overview
9.5.2. Ambulatory Surgical Centers Market Forecast and Analysis
9.6. OTHERS
9.6.1. Overview
9.6.2. Others Market Forecast and Analysis
10. CARDIAC CRYOABLATION DEVICES MARKET REVENUE AND FORECASTS TO 2030 - GEOGRAPHICAL ANALYSIS
10.1. NORTH AMERICA
10.1.1 North America Cardiac Cryoablation Devices Market Overview
10.1.2 North America Cardiac Cryoablation Devices Market Forecasts and Analysis
10.1.3 North America Cardiac Cryoablation Devices Market Forecasts and Analysis - By Product
10.1.4 North America Cardiac Cryoablation Devices Market Forecasts and Analysis - By Application
10.1.5 North America Cardiac Cryoablation Devices Market Forecasts and Analysis - By End-User
10.1.6 North America Cardiac Cryoablation Devices Market Forecasts and Analysis - By Countries
10.1.6.1 United States Cardiac Cryoablation Devices Market
10.1.6.1.1 United States Cardiac Cryoablation Devices Market by Product
10.1.6.1.2 United States Cardiac Cryoablation Devices Market by Application
10.1.6.1.3 United States Cardiac Cryoablation Devices Market by End-User
10.1.6.2 Canada Cardiac Cryoablation Devices Market
10.1.6.2.1 Canada Cardiac Cryoablation Devices Market by Product
10.1.6.2.2 Canada Cardiac Cryoablation Devices Market by Application
10.1.6.2.3 Canada Cardiac Cryoablation Devices Market by End-User
10.1.6.3 Mexico Cardiac Cryoablation Devices Market
10.1.6.3.1 Mexico Cardiac Cryoablation Devices Market by Product
10.1.6.3.2 Mexico Cardiac Cryoablation Devices Market by Application
10.1.6.3.3 Mexico Cardiac Cryoablation Devices Market by End-User
10.2. EUROPE
10.2.1 Europe Cardiac Cryoablation Devices Market Overview
10.2.2 Europe Cardiac Cryoablation Devices Market Forecasts and Analysis
10.2.3 Europe Cardiac Cryoablation Devices Market Forecasts and Analysis - By Product
10.2.4 Europe Cardiac Cryoablation Devices Market Forecasts and Analysis - By Application
10.2.5 Europe Cardiac Cryoablation Devices Market Forecasts and Analysis - By End-User
10.2.6 Europe Cardiac Cryoablation Devices Market Forecasts and Analysis - By Countries
10.2.6.1 Germany Cardiac Cryoablation Devices Market
10.2.6.1.1 Germany Cardiac Cryoablation Devices Market by Product
10.2.6.1.2 Germany Cardiac Cryoablation Devices Market by Application
10.2.6.1.3 Germany Cardiac Cryoablation Devices Market by End-User
10.2.6.2 France Cardiac Cryoablation Devices Market
10.2.6.2.1 France Cardiac Cryoablation Devices Market by Product
10.2.6.2.2 France Cardiac Cryoablation Devices Market by Application
10.2.6.2.3 France Cardiac Cryoablation Devices Market by End-User
10.2.6.3 Italy Cardiac Cryoablation Devices Market
10.2.6.3.1 Italy Cardiac Cryoablation Devices Market by Product
10.2.6.3.2 Italy Cardiac Cryoablation Devices Market by Application
10.2.6.3.3 Italy Cardiac Cryoablation Devices Market by End-User
10.2.6.4 Spain Cardiac Cryoablation Devices Market
10.2.6.4.1 Spain Cardiac Cryoablation Devices Market by Product
10.2.6.4.2 Spain Cardiac Cryoablation Devices Market by Application
10.2.6.4.3 Spain Cardiac Cryoablation Devices Market by End-User
10.2.6.5 United Kingdom Cardiac Cryoablation Devices Market
10.2.6.5.1 United Kingdom Cardiac Cryoablation Devices Market by Product
10.2.6.5.2 United Kingdom Cardiac Cryoablation Devices Market by Application
10.2.6.5.3 United Kingdom Cardiac Cryoablation Devices Market by End-User
10.2.6.6 Rest of Europe Cardiac Cryoablation Devices Market
10.2.6.6.1 Rest of Europe Cardiac Cryoablation Devices Market by Product
10.2.6.6.2 Rest of Europe Cardiac Cryoablation Devices Market by Application
10.2.6.6.3 Rest of Europe Cardiac Cryoablation Devices Market by End-User
10.3. ASIA-PACIFIC
10.3.1 Asia-Pacific Cardiac Cryoablation Devices Market Overview
10.3.2 Asia-Pacific Cardiac Cryoablation Devices Market Forecasts and Analysis
10.3.3 Asia-Pacific Cardiac Cryoablation Devices Market Forecasts and Analysis - By Product
10.3.4 Asia-Pacific Cardiac Cryoablation Devices Market Forecasts and Analysis - By Application
10.3.5 Asia-Pacific Cardiac Cryoablation Devices Market Forecasts and Analysis - By End-User
10.3.6 Asia-Pacific Cardiac Cryoablation Devices Market Forecasts and Analysis - By Countries
10.3.6.1 Australia Cardiac Cryoablation Devices Market
10.3.6.1.1 Australia Cardiac Cryoablation Devices Market by Product
10.3.6.1.2 Australia Cardiac Cryoablation Devices Market by Application
10.3.6.1.3 Australia Cardiac Cryoablation Devices Market by End-User
10.3.6.2 China Cardiac Cryoablation Devices Market
10.3.6.2.1 China Cardiac Cryoablation Devices Market by Product
10.3.6.2.2 China Cardiac Cryoablation Devices Market by Application
10.3.6.2.3 China Cardiac Cryoablation Devices Market by End-User
10.3.6.3 India Cardiac Cryoablation Devices Market
10.3.6.3.1 India Cardiac Cryoablation Devices Market by Product
10.3.6.3.2 India Cardiac Cryoablation Devices Market by Application
10.3.6.3.3 India Cardiac Cryoablation Devices Market by End-User
10.3.6.4 Japan Cardiac Cryoablation Devices Market
10.3.6.4.1 Japan Cardiac Cryoablation Devices Market by Product
10.3.6.4.2 Japan Cardiac Cryoablation Devices Market by Application
10.3.6.4.3 Japan Cardiac Cryoablation Devices Market by End-User
10.3.6.5 South Korea Cardiac Cryoablation Devices Market
10.3.6.5.1 South Korea Cardiac Cryoablation Devices Market by Product
10.3.6.5.2 South Korea Cardiac Cryoablation Devices Market by Application
10.3.6.5.3 South Korea Cardiac Cryoablation Devices Market by End-User
10.3.6.6 Rest of Asia-Pacific Cardiac Cryoablation Devices Market
10.3.6.6.1 Rest of Asia-Pacific Cardiac Cryoablation Devices Market by Product
10.3.6.6.2 Rest of Asia-Pacific Cardiac Cryoablation Devices Market by Application
10.3.6.6.3 Rest of Asia-Pacific Cardiac Cryoablation Devices Market by End-User
10.4. MIDDLE EAST AND AFRICA
10.4.1 Middle East and Africa Cardiac Cryoablation Devices Market Overview
10.4.2 Middle East and Africa Cardiac Cryoablation Devices Market Forecasts and Analysis
10.4.3 Middle East and Africa Cardiac Cryoablation Devices Market Forecasts and Analysis - By Product
10.4.4 Middle East and Africa Cardiac Cryoablation Devices Market Forecasts and Analysis - By Application
10.4.5 Middle East and Africa Cardiac Cryoablation Devices Market Forecasts and Analysis - By End-User
10.4.6 Middle East and Africa Cardiac Cryoablation Devices Market Forecasts and Analysis - By Countries
10.4.6.1 South Africa Cardiac Cryoablation Devices Market
10.4.6.1.1 South Africa Cardiac Cryoablation Devices Market by Product
10.4.6.1.2 South Africa Cardiac Cryoablation Devices Market by Application
10.4.6.1.3 South Africa Cardiac Cryoablation Devices Market by End-User
10.4.6.2 Saudi Arabia Cardiac Cryoablation Devices Market
10.4.6.2.1 Saudi Arabia Cardiac Cryoablation Devices Market by Product
10.4.6.2.2 Saudi Arabia Cardiac Cryoablation Devices Market by Application
10.4.6.2.3 Saudi Arabia Cardiac Cryoablation Devices Market by End-User
10.4.6.3 U.A.E Cardiac Cryoablation Devices Market
10.4.6.3.1 U.A.E Cardiac Cryoablation Devices Market by Product
10.4.6.3.2 U.A.E Cardiac Cryoablation Devices Market by Application
10.4.6.3.3 U.A.E Cardiac Cryoablation Devices Market by End-User
10.4.6.4 Rest of Middle East and Africa Cardiac Cryoablation Devices Market
10.4.6.4.1 Rest of Middle East and Africa Cardiac Cryoablation Devices Market by Product
10.4.6.4.2 Rest of Middle East and Africa Cardiac Cryoablation Devices Market by Application
10.4.6.4.3 Rest of Middle East and Africa Cardiac Cryoablation Devices Market by End-User
10.5. SOUTH AND CENTRAL AMERICA
10.5.1 South and Central America Cardiac Cryoablation Devices Market Overview
10.5.2 South and Central America Cardiac Cryoablation Devices Market Forecasts and Analysis
10.5.3 South and Central America Cardiac Cryoablation Devices Market Forecasts and Analysis - By Product
10.5.4 South and Central America Cardiac Cryoablation Devices Market Forecasts and Analysis - By Application
10.5.5 South and Central America Cardiac Cryoablation Devices Market Forecasts and Analysis - By End-User
10.5.6 South and Central America Cardiac Cryoablation Devices Market Forecasts and Analysis - By Countries
10.5.6.1 Brazil Cardiac Cryoablation Devices Market
10.5.6.1.1 Brazil Cardiac Cryoablation Devices Market by Product
10.5.6.1.2 Brazil Cardiac Cryoablation Devices Market by Application
10.5.6.1.3 Brazil Cardiac Cryoablation Devices Market by End-User
10.5.6.2 Argentina Cardiac Cryoablation Devices Market
10.5.6.2.1 Argentina Cardiac Cryoablation Devices Market by Product
10.5.6.2.2 Argentina Cardiac Cryoablation Devices Market by Application
10.5.6.2.3 Argentina Cardiac Cryoablation Devices Market by End-User
10.5.6.3 Rest of South and Central America Cardiac Cryoablation Devices Market
10.5.6.3.1 Rest of South and Central America Cardiac Cryoablation Devices Market by Product
10.5.6.3.2 Rest of South and Central America Cardiac Cryoablation Devices Market by Application
10.5.6.3.3 Rest of South and Central America Cardiac Cryoablation Devices Market by End-User
11. IMPACT OF COVID-19 PANDEMIC ON GLOBAL CARDIAC CRYOABLATION DEVICES MARKET
11.1 North America
11.2 Europe
11.3 Asia-Pacific
11.4 Middle East and Africa
11.5 South and Central America
12. INDUSTRY LANDSCAPE
12.1. MERGERS AND ACQUISITIONS
12.2. AGREEMENTS, COLLABORATIONS AND JOIN VENTURES
12.3. NEW PRODUCT LAUNCHES
12.4. EXPANSIONS AND OTHER STRATEGIC DEVELOPMENTS
13. CARDIAC CRYOABLATION DEVICES MARKET, KEY COMPANY PROFILES
13.1. BOSTON SCIENTIFIC CORPORATION
13.1.1. Key Facts
13.1.2. Business Description
13.1.3. Products and Services
13.1.4. Financial Overview
13.1.5. SWOT Analysis
13.1.6. Key Developments
13.2. MEDTRONIC
13.2.1. Key Facts
13.2.2. Business Description
13.2.3. Products and Services
13.2.4. Financial Overview
13.2.5. SWOT Analysis
13.2.6. Key Developments
13.3. MICRO PORT SCIENTIFIC CORPORATION
13.3.1. Key Facts
13.3.2. Business Description
13.3.3. Products and Services
13.3.4. Financial Overview
13.3.5. SWOT Analysis
13.3.6. Key Developments
13.4. ATRICURE, INC.
13.4.1. Key Facts
13.4.2. Business Description
13.4.3. Products and Services
13.4.4. Financial Overview
13.4.5. SWOT Analysis
13.4.6. Key Developments
13.5. CPSI BIOTECH
13.5.1. Key Facts
13.5.2. Business Description
13.5.3. Products and Services
13.5.4. Financial Overview
13.5.5. SWOT Analysis
13.5.6. Key Developments
13.6. PREMIER HEALTH
13.6.1. Key Facts
13.6.2. Business Description
13.6.3. Products and Services
13.6.4. Financial Overview
13.6.5. SWOT Analysis
13.6.6. Key Developments
13.7. GALIL MEDICAL INC.
13.7.1. Key Facts
13.7.2. Business Description
13.7.3. Products and Services
13.7.4. Financial Overview
13.7.5. SWOT Analysis
13.7.6. Key Developments
13.8. METRUM CRYOFLEX SP. Z O.O.
13.8.1. Key Facts
13.8.2. Business Description
13.8.3. Products and Services
13.8.4. Financial Overview
13.8.5. SWOT Analysis
13.8.6. Key Developments
13.9. ICECURE MEDICAL
13.9.1. Key Facts
13.9.2. Business Description
13.9.3. Products and Services
13.9.4. Financial Overview
13.9.5. SWOT Analysis
13.9.6. Key Developments
13.10. SANARUS TECHNOLOGIES
13.10.1. Key Facts
13.10.2. Business Description
13.10.3. Products and Services
13.10.4. Financial Overview
13.10.5. SWOT Analysis
13.10.6. Key Developments
14. APPENDIX
14.1. ABOUT THE INSIGHT PARTNERS
14.2. GLOSSARY OF TERMS
The List of Companies
1. Boston Scientific Corporation
2. Medtronic
3. Micro Port Scientific Corporation
4. ATRICURE, INC.
5. CPSI Biotech
6. Premier Health
7. GALIL MEDICAL INC.
8. METRUM CRYOFLEX Sp. z o.o.
9. ICECURE MEDICAL
10. SANARUS TECHNOLOGIES
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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