North America Electrophysiology Market Analysis 2018 to 2023: Leading Players - ABBOTT LABORATORIES, BOSTON SCIENTIFIC, BIOTRONIK SE & CO. KG, GE HEALTHCARE, HANSEN MEDICAL, JOHNSON & JOHNSON, MEDTRONIC

North America Electrophysiology Market Highlights
The North America electrophysiology market is expected to register a good CAGR during the forecast period, 2018 to 2023. The electrophysiology is a biomedical field, which deals with the study of electric activity in the human body.

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Key Developments in the Market:
• January 2018 - BioSig Technologies, a medical device company, which is developing a biomedical signal processing platform designed to address the demand for electrophysiology market, has partnered with Mr. Charles Austin and JK advisors to scale up operational activities.
• January 2018 u2013 Rhythmlink announced patent license agreement with Dignity Health for improving and expanding brain health monitoring options. The proprietary technology by Dignity Health allows quick and easy collection of EEG data, which can be further distributed to healthcare personnel for analysis and intervention.

Major Players:
ABBOTT LABORATORIES, BOSTON SCIENTIFIC, BIOTRONIK SE & CO. KG, GE HEALTHCARE, HANSEN MEDICAL, JOHNSON & JOHNSON, MEDTRONIC INC., SIEMENS HEALTHCARE, NIHON KOHDEN CORPORATION, among others.

Growing Incidence of Arrhythmia and Heart Failure
In North America, 1-2% of the total healthcare expenditure is attributed to heart failure. In 2016, around 5.5 million people were diagnosed with heart failure in the United States. It is expected that this number would increase to 8 million by 2030. Since, electrophysiology devices have their major applications in detecting heart failure rates, the increasing number of heart failures is expected to drive the market over the forecast period. The other factors, such as high adoption rates in emerging markets due to technological advancements, rapid growth in aging population, increasing demand for catheter ablation procedures are also driving the market.

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Lack of Skilled and Experienced Electro physiologists
As of 2017, in the United States, approximately 6-8% of cardiologists hold a specialization in electrophysiology. Although not a favorable percentage, the EP workforce is more or less stable in the United States. However, due to lack of mobility among the majority of established electro physiologist, there exists a distinct lag in geographical dispersion of the EPs, resulting in a rift between the demand and supply, and a visible disparity among electro physiologists. The lack of skilled electro physiologists is acting as a major restraint for the North America electrophysiology market.
Additionally, unfavorable healthcare reforms, is also responsible for hindering the growth of the market.

US Lead the Market in North America Region
The US electrophysiology market holds the largest market share in 2017 in North America region due to the presence of well-established healthcare facilities and rise in the number of arrhythmia and heart failure cases in the region.

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