Electrophysiology Market is expected to reach $8,271 million by 2022

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.

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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.

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.

North America accounted for the major share in 2015, and is expected to maintain this trend throughout the forecast period. This is due to the rise in prevalence of cardiac arrhythmias coupled with increase in geriatric population, high adoption rate of technologically advanced electrophysiology devices, and high awareness regarding the benefits of electrophysiology devices.

Some of the key companies profiled in the report are 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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