Electrophysiology Market worth $4.73 Billion by 2019
The statistics are given by “Electrophysiology Market Report by Product (Diagnostic Catheter (Conventional, Advanced, Ultyrasound), Ablation Catheter (Cryoablation, RF, Microwave), Lab Devices (Mapping, Recording, Generator, ICE, X-ray)) & Indication (AF, VT, WPW) - Global Forecasts to 2019”, this report analyzes and studies the major market drivers, restraints, opportunities, and challenges in North America, Europe, Asia-Pacific, and the Rest of the World (RoW).
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Based on products, the electrophysiology market is classified into three major segments, namely, EP diagnostic catheters, EP ablation catheters, and EP laboratory devices. The EP diagnostic catheters segment is further divided into conventional EP diagnostic catheters, advanced EP diagnostic catheters, and ultrasound EP diagnostic catheters. The EP ablation catheters segment is further classified into radiofrequency (RF) EP ablation catheters, cryoablation EP catheters, laser ablation systems, navigational advanced mapping accessories, and microwave ablation. The EP laboratory devices segment is categorized into X-ray systems, 3D mapping systems, EP recording systems, remote steering systems, intracardiac echocardiography systems (ICE), and radiofrequency (RF) ablation generators.
Based on indication, the electrophysiology market is divided into atrial fibrillation, ventricular fibrillation, ventricular tachycardia, atrial tachycardia, atrial flutter, Wolff-Parkinson-White (WPW) syndrome, and atrioventricular nodal reentry tachycardia.
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However, factors such as the lack of skilled and experienced electrophysiologists in developing nations and unfavorable healthcare reforms in the U.S. are restricting the growth of the market.
In 2014, North America accounted for the largest share of the market, followed by Europe. However, the Asia-Pacific market is expected to grow at the highest CAGR from 2014 to 2019. The high growth in this region can be attributed to the rapidly increasing aging population, growing focus of multinational companies on emerging markets, improving and modernizing healthcare infrastructure, and high demand of electrophysiology devices.
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Some of the major companies in the global electrophysiology market are Abbott Laboratories (U.S.), Biosense Webster, Inc. (U.S.), BIOTRONIK SE & Co. KG (Germany), Boston Scientific Corporation (U.S.), GE Healthcare (U.K.), Koninklijke Philips N.V. (The Netherlands), Medtronic, Inc. (U.S.), Microport Scientific Corporation (China), St. Jude Medical, Inc. (U.S.), and Siemens AG (Germany).
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