$4.6+ Billion Cardiac Mapping Market Set To Surpass By 2031 With A Steady CAGR Of 5.7%

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Cardiac Mapping market Size, Share, Competitive Landscape and Trend Analysis Report by Product, by Indication, by End User : Global Opportunity Analysis and industry Forecast, 2021-2031

PORTLAND, OREGON, UNITED STATES, June 19, 2024 /EINPresswire / -- Global Cardiac Mapping Market Overview
The global cardiac mapping market, valued at $2.6 billion in 2021, is projected to surge to $4.6 billion by 2031, growing at a compound annual growth rate (CAGR) of 5.7% from 2022 to 2031. Cardiac mapping involves measuring the electrical activity of the heart, aiding physicians in diagnosing and predicting cardiovascular diseases. These devices capture and store electrical signals sent by catheters, enabling electrophysiologists to pinpoint heart chambers affected by arrhythmias or irregular heart rhythms.

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Market Growth Drivers
The rise in cardiovascular disorders and an aging global population are significant drivers of market growth. 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. Additionally, the COVID-19 pandemic has exacerbated conditions such as hypertension, diabetes, and obesity, which increase the risk of severe cardiac events, further driving the demand for cardiac mapping devices. Excessive alcohol consumption also heightens the risk of atrial fibrillation, contributing to market expansion.

Technological Advancements and Investments
Key market players are heavily investing in research and development to innovate and manufacture advanced cardiac mapping products. Technological improvements are anticipated to accelerate market growth, offering faster, more precise, and effective solutions compared to existing technologies. The focus on launching new products and expanding product portfolios is a strategic priority for companies in this sector.

Healthcare Infrastructure and Government Initiatives
The global increase in healthcare-related diseases, surgical procedures, and the number of hospitals, both public and private, further propels market growth. In June 2021, the World Health Organization (WHO) published a list of priority medical devices for managing cardiovascular diseases and diabetes. This initiative aids policymakers and healthcare providers in prioritizing medical devices for emergencies such as cardiac arrest and stroke, likely boosting the demand for cardiac mapping devices.

Market Constraints
Despite the favorable growth environment, the market faces challenges such as a shortage of skilled electrophysiologists and the high costs associated with cardiac mapping techniques, which may limit market expansion during the forecast period.

COVID-19 Impact on the Market
The COVID-19 pandemic has had a profound impact on global health industries, including the cardiac mapping market. Changes in consumer behavior, supply chain disruptions, and significant government initiatives have reshaped the market landscape. Many individuals who contracted COVID-19 developed cardiovascular issues, highlighting the need for effective cardiovascular treatments and devices, thus positively impacting market demand.

Market Segmentation
By Product
The market is segmented into contact and non-contact cardiac mapping systems. The contact cardiac mapping systems segment was the largest in 2021, while the non-contact systems segment is expected to grow at the highest CAGR during the forecast period due to the increasing prevalence of heart diseases and the adoption of new technologies.

By Indication
Atrial fibrillation held the largest market share in 2021, driven by the rising number of associated cases. The atrial flutter segment is anticipated to grow at the fastest rate due to increasing demand for accurate diagnostic tools.

By End User
Hospitals dominated the market in 2021 due to the adoption of advanced diagnostic tools by interventional cardiologists. This segment is expected to maintain the highest CAGR during the forecast period.

By Region
North America led the market in 2021, supported by key industry players, government initiatives, and advanced healthcare infrastructure. The Asia-Pacific region is projected to experience the highest growth rate, driven by substantial public and private investments. However, market growth in developing nations may be hindered by a lack of awareness, high costs, and minor operational risks.

Key Market Players
Major companies in the cardiac mapping market 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., and MicroPort Scientific Corporation.

Strategic Insights for Stakeholders
This market analysis provides a detailed examination of market segments, trends, and dynamics from 2021 to 2031, identifying growth opportunities. It highlights key drivers, restraints, and opportunities, supported by Porter's five forces analysis, which emphasizes the power dynamics between buyers and suppliers. The report maps major countries' revenue contributions and positions market players to facilitate strategic decision-making and enhance supplier-buyer networks.

By understanding regional and global market trends, key players, and strategic growth opportunities, stakeholders can better navigate the evolving cardiac mapping market landscape.

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