Increased competition in the cryoablation catheter segment

Increased competition in the cryoablation catheter segment

Time Stamp: August 18, 2023 11:44 AM
Source Node: 2829945

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The cryoablation segment of the ablation catheters market is expected to reach $738.3 million by 2033. Credit: MAD.vertise via Shutterstock.

With the FDA’s approval of Boston Scientific’s new cryoablation system, POLARx, new competition has been added to the cryoablation segment of the ablation catheters market. This is sure to provide a boost to a segment that was previously solely occupied by Medtronic. The cryoablation segment of the ablation catheters market was worth $459.2 million in 2022 and is expected to reach $738.3 million by 2033, according to GlobalData.

This rivalry could prove to be beneficial for the market overall as increased competition translates to better products and services that can meet a more diverse range of needs for patients. Up to now, Medtronic has dominated this segment with its Freezor and Artic Front product lines, but there may now be a slight shift in the dynamics of the cryoablation catheter space.

The POLARx FIT is a minimally invasive cryoablation balloon catheter intended to treat paroxysmal atrial fibrillation by providing cryotherapy to the pulmonary vein. Once the affected tissue is frozen, scar tissue is created, which blocks irregular electrical signals.

The use of cryoablation has been slowly growing due to its ease of use relative to other ablation catheters, such as radiofrequency ablation or laser ablation, and its low risk and high success rate make it an ideal method for treating cardiac arrhythmia. It has also become more popular among physicians due to its improved efficiency, safety and effectiveness. However, one barrier to the adoption of this procedure is its relatively high cost.

The demand for more effective ablation catheters is increasing as the ageing population continues to grow, which in turn increases the prevalence of cardiovascular diseases. With Boston Scientific launching into the cryoablation catheter segment, GlobalData expects this competition to generate more fine-tuned products and services that can help push the overall market forward.

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