China 3D Cardiac Mapping Market Size Expected to Reach $150.59 Million a at 12.8% CAGR by 2027
Pune, Maharashtra, India, February 26 2021 (Wiredrelease) Allied Analytics –:growth of the China 3D cardiac mapping market is attributed to the prevalence of cardiac arrhythmias, rise in preference for minimally invasive procedures, and increase in geriatric population. However, high cost of 3D cardiac mapping issues hinder the market growth. On the contrary, rise in preference for 3D cardiac mapping is expected to provide significant profitable opportunities for manufacturers in the China 3D cardiac mapping market.
“China 3D Cardiac Mapping Market by application and end user: opportunity analysis and industry forecast, 2020–2027,” the China 3D cardiac mapping market was valued at $55.55 million in 2019 and is projected to reach $150.59 million by 2027, registering a CAGR of 12.8% from 2020 to 2027.
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3D cardiac mapping is a procedure that is used to diagnose the origins of cardiac arrhythmias. This process uses an electrically sensitive catheter to map the electrical activity in chambers of heart. Cardiac mapping is used widely for identification, characterization, and localization of an arrhythmia.3D cardiac mapping covers several forms of mapping like endocardial, epicardial, and body surface mapping to characterize the timing and amplitude (voltage) of signals relative to each other. Rise in prevalence of cardiac arrhythmias (uneven or irregular heartbeat) and other cardiac disorders is expected to drive the growth of the China 3D cardiac mapping market during the forecast period.
The impact of the coronavirus pandemic and the lockdown it triggered is visible in various industries, including the China 3D cardiac mapping market. Furthermore, this disease predominantly affects the lungs, frequently leading to pneumonia and acute respiratory distress syndrome, adverse effects on the heart have also been observed. On the contrary it has been observed that there is prevalence of Novel coronavirus in patients suffering with conditions like arrhythmia. For this condition mainly 3D cardiac mapping is used. All these factors are anticipated to impact the china 3D cardiac mapping market as well in the future.
Rise in the number of cardiac arrhythmias patients in China and benefits of using advanced 3D cardiac mapping systems such electroanatomical mapping, basket catheter mapping, and real-time positional management (cardiac pathways) EP system over conventional products are expected to boost the growth of the China market. However, lack of awareness, less variability in products, and high cost in China are expected to hamper the market growth. On the contrary, rise in preference for 3D cardiac mapping is expected to provide significant profitable opportunities for manufacturers in the China 3D cardiac mapping market.
The geriatric population in China continues to grow at an exceptional rate and the proportion of elderly population is more prone to cardiovascular diseases. Incidences of cardiac arrhythmias in aged people are more as compared to adult population, owing to long life expectancy and life style modifications According to the China National Committee on Aging (CNCA), 2017, approximately 241 million people in China were aged 60 or above and it is estimated that by 2050 the number would rise to 487 million across China. Thus, alarming rise in prevalence of cardiac arrhythmias cases in China is expected to drive the growth of the China 3D cardiac mapping market.
Furthermore, High costs associated with 3D cardiac mapping systems restrain the adoption of 3D cardiac mapping. Integration of real-time positional management (cardiac pathways) electrophysiology system and electroanatomical mapping in cardiac mapping has increased in recent years, which has led to an increase in the overall cost of 3D cardiac mapping. The cost of electroanatomical mapping systems systems ranges from $375,000 to $495,000. Electroanatomical mapping and real-time positional management in cardiac mapping increases the overall cost of 3D cardiac mapping system treatment. This creates a resistance among end users and decreases utilization of cardiac mapping. Further, lack of access of advanced cardiac mapping systems in a few developing countries constrains the growth of this market.
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In 2019, the application segment generated highest market share, owing to increased use in electroanatomical mapping, basket catheter mapping, and real-time positional management (cardiac pathways) electrophysiological system. The basket catheter mapping segment is anticipated to dominate the China 3D cardiac mapping market by 2027. Moreover, advantages of electroanatomical mapping are anticipated to create newer opportunities for 3D cardiac mapping in the future. Advanced features offered by these mapping provide accurate three-dimensional view of a cardiac chamber with a straightforward geometric display that has the capability to determine the location and orientation of the ablation catheter accurately.
Comprehensive competitive analysis and profiles of major market players such as Abbott Laboratories, Microport Scientific Corporation, Medtronic Plc, and Acutus Medical provided in this report.
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