Electrophysiology Devices Market trend, outlook 2025
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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. In 2017, Abbott launched new Ensite Precision Cardiac Mapping System. Siemens Healthineers launched cardiovascular imaging and information solution called as ‘syngo Dynamics’ at American College of Cardiology in March 2018. Biosense Webster launched CARTO 3 System CARTO VISITAG module with ablation index for simplification and standardization in electrophysiology procedures in March 2017. Product innovation and launches are expected to support the growth of the global electrophysiology devices market over the forecast period.
However, high costs of these devices, one time installation, strict regulations, alternative therapies, and high instances of product recall are expected to hamper the growth of the market.
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.
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 Taxonomy
The global electrophysiology devices market is segmented on the basis of product type, application, end user, and geography.
By Product Type –
Holter Monitoring Devices
Diagnostic Electrophysiology Catheters
3D Mapping Systems
Intracardiac Echocardiography Systems (ICE)
Implantable Cardiac Monitors
By End User-
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