Electrophysiology Devices Market Size, Growth | Industry Report, 2020Posted by Marsh William on June 19th, 2019
Catherer ablation has gained popularity as the first line treatment, rendering 95.0% success rate for several rhythm disorders and is anticipated to be a key driving factor for growth. Diagnostic electrophysiology catheters are estimated to grow at the CAGR of over 15.0% in the foreseeable future.Technological developments such as laser ablation, cryo-ablation and ultrasound ablation, coupled with optimised mapping techniques are anticipated to augment market growth over the forecast period. Electrophysiology treatment & monitoring devices contributed to a share of over 60.0% of in 2013. X-ray systems was the most widely used device in electrophysiology monitoring sector. Market growth can be attributed to improving diagnostic interventional capabilities of healthcare consultants and increasing usage of digital and portable systems. Technological improvements such as Optima IGS 320 and GE Healthcare’s Innova IGS 520 are projected to provide future opportunities for growth. These are dose efficient products and interventional X-ray systems that allow physicians to perform compound interventional procedures with accuracy and ease. Electrophysiology treatment devices include pacemakers, implantable cardioverter defibrillators (ICD) and catheters. Catheters emerged as the largest treatment devices segment in 2013 owing to growing number of interventional procedures and extensive usage of treatment devices in electrophysiology readings. However, rising costs related with the product, existence of strict regulations and accessibility of substitute therapies are anticipated to hamper growth over the forecast period. In 2013, North America contributed to over 30.0% of the overall market share and emerged as the dominant market owing to frequent occurrence of cardiac arrhythmia resulting from unhealthy lifestyle habits. Increasing demand for the latest healthcare infrastructure and rising consumer awareness are anticipated to propel growth. Asia-Pacific is a lucrative market owing to high rate of unmet medical requirements leading to increase in the number of patients. Rapid developments in healthcare infrastructure and increase in disposable income in emerging economies such as India and China are expected to provide new avenues and opportunities for companies to capitalize over the forecast period. Key electrophysiology device manufacturers include Biotronik SE & Co. KG, Medtronic Inc., St. Jude Medical, Boston Scientific Corporation and Abbott Laboratories. Browse Details of Report @ http://www.grandviewresearch.com/industry-analysis/electrophysiology-devices-market Like it? Share it!More by this author |