Electrophysiology Market to Exhibit Impressive Growth with major Key player St. Jude Medical, Inc.,
Posted: Aug 25, 2019
Electrophysiology Market Report, published by Allied Market Research, forecasts that the global market is expected to garner $8,271 million by 2022, registering a CAGR of 13.4% during the period 2016-2022.Electrophysiology (EP) ablation catheters is expected to dominate the global electrophysiology market throughout the forecast period. North America accounted more than one-third share of the global electrophysiology market in 2015.
The market is driven by growth in incidence of atrial fibrillation (one of the most common heart rhythm disorder or cardiac arrhythmia), growth in baby boomer generation with high-risk of targeted diseases, and increase in adoption of EP catheter ablation. Rise in focus of the key players toward innovative EP technologies (such as 3D mapping systems, bidirectional duodecapolar diagnostic catheter, remote steering systems, and irrigated-tip RF catheters), and growth in EP labs further drives the market growth. However, stringent government regulations, high cost of the treatment of complex arrhythmias, preference to pharmaceutical interventions (drugs) over, and dearth of skilled & experienced electrophysiologists restrain the market growth.
EP ablation is a minimally invasive procedure, which employs catheters to destroy faulty electrical pathways from heart. The device is useful in removal of the abnormal heart tissues that cause irregular heart rhythms. Radiofrequency and cryoablation types are the most widely used EP ablation catheters, and are expected to register significant market capture with pertinent advancements in the technology. In addition, the number of ablation procedures performed for the treatment of atrial fibrillation is expected to increase substantially in the foresee future. Catheter ablation is a low-risk process with high success rates, making it the most preferred modality for the treatment of cardiac arrhythmias. The treatment of cardiac arrhythmias, especially
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Key Findings of the Electrophysiology Market
- In 2015, EP ablation catheter was the leading product type, and is projected to grow at a high CAGR of 14.4%.
- Cryoablation EP catheters is expected to grow at a remarkable CAGR of 15.1%.
- Irrigated-tip RF ablation catheters is projected to grow at a high CAGR of 14.6%.
- U.S. was the highest market shareholder with over 80% in the North American region in 2015.
- Japan is the major shareholder, accounting for around half of the Asia-Pacific electrophysiology market.
- North America is expected to dominate the EP market followed Europe, during the analysis period.
Major Key Players:
- St. Jude Medical, Inc.
- Biosense Webster, Inc. (A Johnson & Johnson Company)
- Boston Scientific Corporation
- Medtronic, Inc.
- GE Healthcare (Division of General Electric Co.)
- Siemens AG
- Medtronic plc
- Philips Healthcare (A Division of Koninklijke Philips N.V.)
- Biotronik SE & Co.KG
- Microport Scientific Corporation, and Abbott Laboratories.
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