Medtronic’s dominance of the cryoablation market is under threat, according to GlobalData.
Adagio Medicals appear to be one of the companies disrupting the market. The company recently announced that it successfully treated its first patients with its One Shot+ catheter.
Sheryl Tang, senior analyst for medical devices at GlobalData said: “The cryoablation market is set for disruption as Adagio Medical, Boston Scientific and a number of other smaller companies enter the space to challenge the market dominance of Medtronic’s devices.
“The global electrophysiology ablation catheters market is relatively new and fast growing, with cryoablation catheters contributing 27% of market value and growing at an impressive compound annual growth rate (CAGR) of 5%, according to the latest research by GlobalData.
‘‘In the face of this new competition, Medtronic will need to leverage their reputation and the provenance of their cryoablation device in order to protect and maintain their market dominance.’’