Electrophysiology Devices Market Projected to Grow at a CAGR of 5.0% by 2020 | Grand View Research Inc

Increasing use of electrophysiology devices in the diagnosis and treatment of cardiovascular diseases such as arrhythmias and atrial fibrillation and the growing global geriatric population base are some high impact rendering growth drivers of the electrophysiology devices market

Posted on 2019-05-23 by researchinsights in Healthcare // 0 Comments

San Francisco, United States, 2019-May-23 — /EPR Network/ —

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.

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Global electrophysiology devices market, by application, 2012 – 2020 (USD Million)

Further key findings from the study suggest:

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.

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.

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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