Electrophysiology Devices Market: Drivers Are Responsible to for Increasing Market Share, Forecast 2

Electrophysiology involves the study of electrical activity of heart to diagnose and monitor any arrhythmia. Depending on the results of electrophysiology studies, the course of treatment such as medication, implantable medical devices, cardiac ablation, and surgery can be decided. Electrical signals have a specific travel pattern in the heart, which changes and becomes irregular due to disorders and conditions such as heart attacks, aging, and blood pressure. In such cases, electrophysiology techniques are utilized to diagnose, monitor, and select suitable course of treatment mentioned above. Indications for electrophysiology include bradycardia, tachycardia, atrial fibrillation, ventricular tachycardia, ventricular fibrillation, and other arrhythmias.

Generally, catheters are used for electrophysiology studies and for cardiac ablation procedures. Catheters can be used for visualization of intracardiac electrograms, measurement of electrograms, cardiac pacing, navigational mapping, and others. The electrophysiology devices market is highly competitive in nature, as leading manufactures such as Boston Scientific Corporation and Abbott Laboratories have technologically advanced and wide product portfolios.

The Electrophysiology Devices Market is mainly driven by technological innovation. Manufacturers have adopted strategies such as mergers and acquisitions, intensive research and development, and continuous product launches to effectively compete in the market. Commercially available electrophysiology products include Rhythmia HDx, Confirm Rx, Advisor FL, EnSite Precision, WorkMate Claris Recording System, and SJM Confirm Implantable Cardiac Monitor.

Electrophysiology Devices Market Drivers

Increasing global prevalence of cardiovascular system diseases and associated comorbidities is expected to have a positive impact on the growth of the market. According to the World Health Organization (WHO), around 17 million people die annually from cardiovascular diseases. According to the Centers for Disease Control and Prevention (CDC), in 2017, 2.7 to 6.1 million people in the U.S. were suffering from atrial fibrillation, which is the most common type of heart arrhythmia.

Increasing incidence and prevalence of cardiovascular diseases is expected to foster growth of the electrophysiology devices market over the forecast period. Early diagnosis has become paramount in order to decide on the optimal treatment plan and to improve medical outcome, and faster diagnosis can significantly improve the medical outcomes.

Leading manufacturers in the market are indulged in technological advancement of the electrophysiology devices, which is expected to boost the electrophysiology devices market. For instance, manufacturers have invented wearable and implantable devices with smartphone connectivity such as wearable holter monitors and implantable cardiac monitors. In 2017, St. Jude Medical received CE mark for the Confirm Rx, the world’s first smartphone compatible implantable cardiac monitor and Boston Scientific launched Rhythmia HDx.

Competitive Landscape

Key players operating in the electrophysiology devices market include Siemens AG, Boston Scientific Corporation, Abbott Laboratories, GE Healthcare, Biotronik SE & Co.KG, Biosense Webster, Inc., Philips Healthcare, and MicroPort Scientific Corporation.

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Electrophysiology Devices Market Insights

On the basis of region, North America and Europe are expected to show significant growth in the electrophysiology devices market over the forecast period. North America has the presence of leading manufacturers who are indulged in research and development of these devices. Manufacturers such as Boston Scientific Corporation (U.S.) and St. Jude Medical offer innovative products in the electrophysiology market. North America market is expected to witness significant growth, owing to inorganic growth strategies adopted by manufacturers such as acquisitions. For instance, in 2017, Boston Scientific Corporation announced acquisition of Apama Medical to strengthen electrophysiology portfolio. Asia Pacific region is expected to show significant growth, owing to high prevalence of cardiovascular disease and increasing availability of advanced electrophysiology devices in the region.

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