Market Trends of Intracardiac Echocardiography Industry
This section covers the major market trends shaping the Intracardiac Echocardiography Market according to our research experts:
Electrophysiology is Expected to Hold a Significant Share in the Market Over the Forecast Period
Electrophysiology (EP) is a test performed to assess the heart's electrical system or activity and is used to diagnose abnormal heartbeats or arrhythmia. EP is performed by inserting catheters and wire electrodes, which measure electrical activity through blood vessels that enter the heart.
In electrophysiology procedures, intracardiac echocardiography (ICE) allows the integration of real-time images with electroanatomic maps, which has a role in assessing arrhythmogenic substrate. It is particularly useful for mapping structures that are not visualised by fluoroscopies. Therefore, ICE is preferred over other diagnostic methods. With the increasing prevalence of arrhythmia in populations worldwide, the demand for electrophysiology procedures is expected to increase over the years, and the studied segment is expected to grow significantly.
According to the BMJ article published in August 2021, around 80% of the study participants diagnosed with atrial fibrillation in the United Kingdom were eligible for early rhythm control. Such prevalence of atrial fibrillation in the population eligible for early rhythm control is expected to drive the demand for electrophysiology procedures, thus contributing to the growth of the market.
With technological innovations, along with the rising adoption of imaging procedures for electrophysiology, the segment is further expected to grow over the forecast period. For instance, in July 2021, Mayo Clinic used a next-generation 4D intracardiac echo (ICE) device in patients to guide heart procedures. The technology can also help physicians perform procedures without using general anesthesia on patients.
The increasing prevalence of various heart and circulatory disorders among the global population, and the rising demand for electrophysiology procedures are expected to contribute to the growth of the studied segment, during the forecast period.
North America is Expected to Hold a Significant Share in the Market and Expected to do Same Over the Forecast Period
With the rising focus on patient care and need, supported by the well-developed infrastructure and technologically advanced healthcare system, the increasing burden of cardiac diseases is expected to drive the growth of the intracardiac echocardiography market in the region.
Additionally, the rising geriatric population is also expected to drive the growth of the market in this region. For instance, the data published by Statistics Canada in August 2022 indicated that the population aged 70 to 74 years in Canada was 1,879,862, whereas the population aged 80 to 84 years was 878,672. Such a rise in the geriatric population who are prone to developing cardiovascular diseases is expected to drive the demand for minimally invasive cardiac procedures such as intracardiac echocardiography, thereby contributing to the growth of the market in this region.
Furthermore, the rising product approvals and technologically advanced products are expected to boost the growth of the market during the forecast period. For instance, in April 2022, Franklin Mountain Medical received the Food and Drug Administration's clearance of its patented UltraNav Transseptal Catheter system for controlled access and delivery of cardiovascular catheters ad guidewires to heart chambers. This visualization allows the delivery of catheters, including intracardiac echocardiography catheters for the intended treatment.
Similarly, in January 2021, Seimens Medical Solutions USA, Inc, received approval from the United States Food and Drug Administration for the ACUSON AcuNav volume intracardiac echocardiography catheter for legal marketing and usage.
Thus, owing to the above-mentioned factors such as innovative product launches and high burden of cardiac disease is contributing to the growth of the intracardiac echocardiography market in North America region over the forecast period.
