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Electrophysiology Market Comprehensive Growth Analysis On Biotronik SE & Co. KG, Abbott Laboratories, Johnson & Johnson, Koninklijke Philips, Magnetecs Corporation, Japan Lifeline, Stereotaxis, Topera, Boston Scientific Corporation, GE Healthcare
Rising prevalence of cardiac arrhythmias such as atrial fibrillation along with rising number of baby boomers will drive electrophysiology market. Incidence of atrial fibrillation increases with age; hence growing geriatric population base will act as high impact rendering factor for electrophysiology market.
Technological advancements pertaining to advancing mapping, navigational and ablation techniques used in electrophysiology should accelerate EP devices adoption rate during the forecast period. Furthermore, on-going clinical studies focusing on developing innovative ablation solutions will positively impact business growth.
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Based on indication, electrophysiology industry is segmented into atrial fibrillation, ventricular tachycardia, atrial tachycardia, atrial flutter, WOLFF-Parkinson-White (WPW) syndrome, and atrioventricular nodal reentry tachycardia. Increasing prevalence of ventricular tachycardia will drive ventricular tachycardia segment growth. As per the American Heart Association, ventricular tachycardia is responsible for most of the sudden cardiac deaths in the U.S.
U.S. electrophysiology market valued over USD 1.3 billion in 2017 and is estimated to follow similar trend during the forecast period owing to high technological adoption in the country coupled with increasing research activities pertaining to development of new ablation techniques. Presence of industry leaders, undertaking numerous initiatives to sustain market competition will positively impact U.S. electrophysiology market growth.
Japan electrophysiology market is primarily driven by growing geriatric population base and rising number of people suffering from chronic conditions including cardiovascular diseases, obesity and diabetes. Government support coupled with technological advancements in EP devices will further drive Japanese electrophysiology industry.
Few notable industry players operating in electrophysiology market include Biotronik SE & Co. KG, Abbott Laboratories, Johnson & Johnson, Koninklijke Philips, Magnetecs Corporation, Japan Lifeline, Stereotaxis, Topera, Boston Scientific Corporation, GE Healthcare, Microport Scientific Corporation, Medtronic, and Siemens AG. Market players are currently focusing on geographical expansion by adopting various strategies such as acquisition, merger, strategic collaboration and partnership to gain significant market share and sustain market competition.
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Technological advancements pertaining to advancing mapping, navigational and ablation techniques used in electrophysiology should accelerate EP devices adoption rate during the forecast period. Furthermore, on-going clinical studies focusing on developing innovative ablation solutions will positively impact business growth.
Increasing market penetration of ablation as well as diagnostic catheters in developing countries of Latin America and Asia Pacific will significantly drive industry growth. However, dearth of skilled electrophysiologists, prohibitive cost of EP devices and high device reuse rate in countries such as India will hamper electrophysiology industry growth during the forecast period.
Complete report for 2018-2024 on Electrophysiology market is now available at https://www.marketstudyreport.com/reports/electrophysiology-market
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