The exclusive COVID-19 impact analysis report by Axiom MRC provides a 360 degree analysis of micro and macro-economic factors on the global cardiac mapping market. In addition, complete analysis of changes on the global cardiac mapping market expenditure, economic and international policies on supply and demand side. The report also studies the impact of pandemic on global economies, international trade, business investments, GDP and marketing strategies of key players present in the market. In terms of supply and demand, the pandemic has a negative impact on the cardiac mapping market. As a result, during this epidemic, the global cardiac mapping market is expected to experience a slowdown.
MARKET OVERVIEW - GLOBAL CARDIAC MAPPING MARKET
MARKET DRIVERS
The global cardiac mapping market is witnessing lucrative growth during the forecast period of 2022-2028. Increasing prevalence and incidence of heart disorder is expected to boost the growth during the forecast period. Moreover, better precession in heart disease diagnostics due to technological advancements in cardiac mapping system is expected to fuel the adoption of cardiac mapping system, In addition, the developing healthcare infrastructure and the growing importance of cardiac mapping systems in the diagnosis of heart disorders are providing impetus to the market development. Moreover, government initiatives in preventing and controlling cardiovascular diseases play a critical role in expanding the market. For instance, the National Programme for Prevention and Control of Cancer, Diabetes, Cardiovascular Diseases and Stroke (NPCDCS) by the Government of India aims to manage chronic NCDs such as cardiovascular diseases through early diagnosis, treatment, and follow up by setting up NCD clinics.
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MARKET OPPORTUNITIES
The market players are focusing on improving different types of the cardiac mapping, this also increased the opportunities in the market. Moreover, acquisitions, and partnership collaborations between companies are increasing and these activities have paved way for expansion of business and customer base of market players. The market players from cardiac mapping systems market are anticipated to have lucrative growth opportunities in the future with the rising demand for cardiac mapping systems in the global market.
MARKET RESTRAINTS
The major market restrain is lack of awareness about cardiac mapping systems in developing countries, their high cost restraint the market growth during the forecast period. Moreover, the lack of information related to that jacket and its maintenance is also another factor for the restrains the growth of market.
MARKET GROWTH CHALLENGES
Manufacturers of cardiac mappings are expected to witness hurdles due to several components of the production cycle's maturity. Furthermore, lack of government funding for the technology development and infrastructure these are the challenging factor for the growth of cardiac mapping systems market.
CUMULATIVE GROWTH ANALYSIS
The report provides in-depth analysis of global cardiac mapping market, market size, and compound annual growth rate (CAGR) for the forecast period of 2022-2028, considering 2021 as the base year. With increasing demand for various cardiac mapping in various applications has led the increasing demand for market and is expected to witness the growth at a specific CAGR from 2022-2028.
MARKET SEGMENTAL OVERVIEW
The Cardiac Mapping market is bifurcated into product type, detection type, and geography.
CARDIAC MAPPING MARKET BY PRODUCT TYPE
Based on product, the cardiac mapping market is segmented into non-contact mapping system, contact mapping system, electro anatomical mapping, basket catheter mapping, and real-time positional management (Cardiac Pathways) EP system. Contact mapping system segment is expected to dominate the market during the forecast period. Advantages of contact cardiac mapping, such as detection of the precise locations of mapping and ablation catheters in a three-dimensional environment, also with multi-electrode basket catheter, recording just a few beats might be enough to uncover the arrhythmia circuit these factors are increasing its adoption.
CARDIAC MAPPING MARKET BY DETECTION TYPE
Based on detection, the cardiac mapping market is categorized into atrial flutter, atrial fibrillation, AVNRT, and other types of arrhythmias. Atrial fibrillation segment is expected to dominate the market during the forecast period. The atrial fibrillation segment held the largest share of the market in 2021 a trend that is expected to continue during the forecast period. The large share of this segment can primarily be attributed to the rising incidences of AF throughout the globe.
CARDIAC MAPPING MARKET BY GEOGRAPHY
The global cardiac mapping market is studied for key countries such as North America, Europe, Asia Pacific and Rest of the World. The North America is anticipated as fastest growing region of the market in during the forecast period. North America held the largest share of the market in 2021 and is projected to continue to do so during the forecast period. Factors such as the increase in approval rate of mapping systems and clinical trials validating cardiac mapping systems in the US, high incidence of CVDs, growing focus of government organizations on providing funding for research, and increasing geriatric population in Canada are driving the North American cardiac mapping market.
COMPETITIVE LANDSCAPE ANALYSIS
The competitive landscape analysis of cardiac mapping market is certainly based vast range of market players operating in the cardiac mapping market. The key manufacturer significantly offer a range of product portfolio through various product types and application. Besides, the market has major competitive analysis based on new product launches as well as expansion and acquisitions. With the increasing trends, changing lifestyle, emerging COVID-19 cases the market players has increased their innovation further propelling the market with new growth avenue.
The key players studied in the global Cardiac Mapping market are International Safety Products Ltd, Survitec Hansen Protection AS, Biosense Webster, Abbott, and Boston Scientific Corporation. These leading players offer a strong suit of products for cardiac mapping and have a broad geographic presence. The other players in this market include Medtronic, MicroPort Scientific Corporation , EP Solutions SA, Acutus Medical , Koninklijke Philips N.V. , Lepu Medical, BIOTRONIK, AngioDynamics , BioSig Technologies , APN Health , CoreMap, Kardium , Catheter Precision, and Epmap-System.
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