Cardiac Mapping Market Size

Cardiac Mapping Market Analysis

The Cardiac Mapping Market size is estimated at USD 1.99 billion in 2024, and is expected to reach USD 3.07 billion by 2029, growing at a CAGR of 8.99% during the forecast period (2024-2029).

• COVID-19 significantly impacted the cardiac mapping market owing to the factors such as delayed cardiac consultation and surgical procedures. During the pandemic, urgent surgeries were allowed, and most of the cardiac procedures were canceled or postponed, which affected the cardiac mapping market. For instance, a research study was published in March 2022 on PubMed.
• The study analyzed 717,103 adult cardiac surgery patients and more than 20 million COVID-19 patients and stated that there was a 52.7% reduction in adult cardiac surgery volume and a 65.5% reduction in elective cases. However, in the post-pandemic situation, as the restriction are lifted, the market is expected to witness significant growth due to the increase in post covid cardiac complications and the rise in technological advancements in cardiac mapping.
• Factors such as a rise in cardiac diseases, an increase in the geriatric population, and a novel technological innovation in cardiac mapping devices are expected to drive market growth over the forecast period. For instance, as per the October 2022 update from the Center for Disease Control and Prevention (CDC), about 20.1 million adults aged 20 and older have coronary artery disease (about 7.2%) in the United States.
• Similarly, as per the BHF Global CVD Factsheet 2022, around 550 million people were living with heart and circulatory diseases across the world. Hence, due to the high burden of cardiovascular diseases, the demand for cardiac mapping rises and thereby boosting the market growth over the forecast period.
• Product launches, strategic acquisitions, and partnerships by the key players are further expected increases product availability and competition in the market. For instance, in January 2022, Medtronic PLC entered into a definitive agreement to acquire Affera, Inc., at USD 925 million. Affera designs and manufactures cardiac mapping and navigation systems and catheter-based cardiac ablation technologies. The company's acquisition to expand the cardiac ablation portfolio, including first-time entry into mapping and navigation.
• Similarly, in April 2022, Philips showcased its latest KODEX-EPD cardiac mapping and navigation system at the 2022 European Heart Rhythm Association annual meeting. Hence, as the number of cardiac complications increases, the demand for cardiac mapping is expected to increase, thereby boosting market growth over the forecast period.
• Thus, due to the rise in cardiac diseases and the increase in technological advancements in cardiac mapping, the studied market is expected to witness significant growth over the forecast period. However, the lack of skilled electrophysiologists is likely to hinder the market's growth.