What is Electrophysiology Market?
Electrophysiology refers to use test performed to assess your heart's electrical system or activity and is used to diagnose, monitoring abnormal heartbeats and treatment of heart disease. Electrophysiology market has high growth prospects owing to increasing patient pool globally. For instance, according to World Health Organization (WHO) report, in 2017, cardiovascular diseases caused 3.9 million deaths in Europe and in 2018, cardiovascular diseases accounted for nearly 836,546 deaths in the United States. This growth is primarily driven by rapid growth in geriatric population and growing prevalence of cardiovascular diseases which is expected to drive the demand for electrophysiology over the forecasted period.
The market study is being classified by Type (EP Diagnostic Catheters [Conventional EP Diagnostic Catheters, Advanced EP Diagnostic Catheters, others], EP Laboratory Devices [EP X-Ray Systems, 3D Mapping Systems, EP Recording Systems, Others] and EP Ablation Catheters [Radiofrequency (RF) EP Ablation Catheters, Cryoablation EP Catheters, Laser Ablation Systems, other]) and major geographies with country level break-up.
Abbott Laboratories (United States), Biosense Webster, Inc. (United States), BIOTRONIK SE & Co. KG (Germany), Boston Scientific Corporation (United States), GE Healthcare (United Kingdom), Koninklijke Philips N.V. (Netherland), Medtronic, Inc. (United States), St. Jude Medical, Inc. (United States), Siemens AG (Germany) and Johnson & Johnson (United States) are some of the key players profiled in the study. Additionally, the Players which are also part of the research are AtriCure (United States) and Microport Scientific Corporation (China).
Research Analyst at AMA predicts that United States Players will contribute to the maximum growth of Global Electrophysiology market throughout the predicted period.
Analyst at AMA have segmented the market study of Global Electrophysiology market by Type, Application and Region.
On the basis of geography, the market of Electrophysiology has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
- Rapid Growth in Geriatric Population
- Growing Prevalence of Cardiovascular Diseases
- Increasing Prevalence of Atrial Fibrillation
- Emergence of Advanced Electrophysiology Diagnostic Catheters
- Lack of Skilled Professionals to Operate Electrophysiology
- High Cost Associated With Electrophysiology Devices
- Growing Demand for EP Ablation Catheters for the Treatment of Cardiac Arrhythmia
- Increasing Demand from the Emerging Economies Owing To Growth in Healthcare Infrastructure
- Lack of Advanced Healthcare Infrastructure in the Emerging Economies
Market Leaders and some development strategies
17th May 2019, Acutus announced to acquire Rhythm Xience, engaged in the diagnosis and treatment of abnormal heart rhythms in the arena of catheter-based cardiac rhythm management to expand its product portfolio in the multi-electrode electrophysiology mapping catheter system.
"According to the Food and Drug Administration, reprocessed electrophysiology catheters are intended for temporary intracardiac sensing, recording, stimulation, and electrophysiological mapping of cardiac structures."
Key Target AudienceMedical Institutes, Healthcare Companies, Government Regulatory Authorities, Research Laboratories and Academic Institutes, Clinical Research Organizations (CROs), Research and Development Companies and Others