Electrophysiology Market Global Competitive Analysis and Overview 2020-2030
Electrophysiology (EP) is a diagnostic procedure, performed for the
assessment of electrical impulses of the human heart. It is a minimally
invasive procedure that involves the use of catheters and wire electrodes. Electrophysiology
study helps in the diagnosis of heart arrhythmias & other cardiac
conditions, which has high prevalence rate among large population. Electrophysiology
also enables the advance diagnosis & treatment of serious conditions such
as atrial flutter, atrioventricular nodal reentry tachycardia and others.
According to the report, rising prevalence of heart disorders, along with
the development of healthcare facilities & infrastructure are major factors
driving the market growth. Also, the high prevalence rate of atrial
fibrillation and other rhythmic disorders owing to unhealthy food habits,
alcoholism and others has further created demand for electrophysiology study.
In addition, presence of large geriatric population with higher risk of
cardiovascular disorders and the rising market investments to integrate new
technologies for higher accuracy are also expected to contribute to the market
growth. Moreover, high adoption rate of minimally invasive procedure owing to
numerous advantages over conventional technology is also expected to boost the
market growth. On the other hand, continuous launch of new products along and
higher rate of FDA approvals can cause shift in market trends in the near
future.
However, high cost associated with EP devices and stringent regulatory
policies for the approval of devices is likely to inhibit the market growth.
Moreover, rising awareness with regards to electrophysiology procedures, favourable
reimbursement policies and 3D mapping is anticipated to provide numerous
opportunities to the market players in the coming few years.
On the basis of product, the electrophysiology market share is segmented
into ablation catheters, diagnostic catheters, laboratory devices, access
devices, and others. Ablation catheters segment dominates the global electrophysiology
market and will be the dominant segment during the forecasted period.
On the basis of target disease, the electrophysiology market is
categorised into atrial fibrillation, atrioventricular nodal re-entry
tachycardia, atrial flutter, wolff-parkinson-white syndrome, and other. Atrial
fibrillation segment accounts for the major market share which is likely to
dominate the market growth over the forecast period owing to the high
prevalence rate.
North America accounts for the highest market size & share of the electrophysiology
market throughout the forecast period owing to the rising prevalence of atrial
fibrillation along with presence of developed healthcare infrastructure. In
addition, consistent advancement in electrophysiology technology with rising market
investments is expected to propel the market growth. Europe stands second in
electrophysiology market in terms of market size. Asia Pacific is expected to
be the fastest developing region in the electrophysiology market, majorly
driven by the high prevalence rate of cardiovascular disorders and presence of
large geriatric population in the region. Moreover, rapid development in
healthcare facilities as well as surge in disposable income is also expected to
fuel the market growth.
According to the report, some the key players in the electrophysiology
market are Siemens AG, Medtronic plc,St. Jude Medical, Inc., Biosense Webster,
Inc., Philips Healthcare, Biotronik SE & Co.KG, Boston Scientific
Corporation, GE Healthcare, Microport Scientific Corporation, Abbott
Laboratories.
Browse key industry insights from the report, “Electrophysiology
Market Size By Product (Ablation
Catheters, Diagnostic Catheters, Laboratory Devices, Access Devices, and Others)
By Target Disease (Atrial Fibrillation, Atrioventricular Nodal Reentry
Tachycardia, Atrial Flutter, Wolff-Parkinson-White Syndrome, and Other), Regional
Outlook (U.S., Canada, Germany, UK, France, Spain, Italy, Russia, China, India,
Japan, Australia, Indonesia, Malaysia, South Korea, Brazil, Mexico, South
Africa, Saudi Arabia, UAE, Kuwait), Growth Potential, Price Trends, Competitive
Market Share & Forecast, 2020–2030” in detail along with the table
of contents:
Key Insights from the Electrophysiology Market
Report:
- Asia Pacific is
the fastest growing region in the Electrophysiology market owing
to the high prevalence rate of cardiovascular disorders, rising demand for
minimally invasive process and presence of large geriatric population
prone to cardiovascular disorders.
·
The atrial fibrialltion dominates the
market in terms of application and is expected to grow at a significant CAGR to
maintain the lead till 2030.
- Some of the major players in the market are Siemens
AG, Medtronic plc, St. Jude Medical, Inc., Biosense Webster, Inc., Philips
Healthcare, Biotronik SE &Co.KG, Boston Scientific Corporation, GE
Healthcare, Microport Scientific Corporation, Abbott Laboratories.
The report Electrophysiology market –
segmented by product, target disease and geography
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