Electrophysiology Devices Market Size Will Grow At A 5.0% 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.
Global electrophysiology devices market, by application, 2012 - 2020 (USD Million) |
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.
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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.
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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.
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Press Release By Grand View Research: www.grandviewresearch.com/press-release/global-electrophysiology-devices-market
About Grand
View Research:
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco.
The company provides syndicated research reports, customized research
reports, and consulting services. To help clients make informed business
decisions, we offer market intelligence studies ensuring relevant and
fact-based research across a range of industries, from technology to chemicals,
materials and healthcare.
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