Electrophysiology Devices Market Is Expected To Grow At A CAGR Of 5.0% CAGR from 2014 to 2020: Grand View Research, Inc.
Electrophysiology
devices industry is anticipated to grow at a CAGR of over 5.0% and
reach over USD 6.18 billion by 2020 owing to growing old age population and
frequent cardiac arrhythmias incidents. Adoption of ablation and diagnostics
techniques among physicians has resulted in increased usage of the product in
the past few years and is likley to drive market growth. Development of new
devices such as nanostimleadless pacemaker is also anticipated to fuel demand
in the market.
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.
Browse full research report on electrophysiology
devices market
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.
For more information: http://www.grandviewresearch.com
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