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Electrophysiology Market to Record an Impressive Growth Rate During Forecast 2020
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The BRIC electrophysiology market is categorized based on various types of devices. Some of the major devices include electrophysiology diagnostic catheters, electrophysiology laboratory devices and electrophysiology ablation catheters. Electrophysiology diagnostic catheter segment is further sub-divided into conventional electrophysiology diagnostic catheters (fixed and steerable), advanced electrophysiology diagnostic catheters (loop and other) and ultrasound electrophysiology diagnostic catheters.
Electrophysiology laboratory device segment is further sub-segmented into X-Ray systems, 3D mapping systems, electrophysiology recording systems, intracardiac echocardiography systems, remote steering systems and RF ablation generators.
Electrophysiology ablation catheters include radiofequency (RF) electrophysiology ablation catheters (conventional and irrigated-tip), cryoablation electrophysiology catheters, laser ablation systems, navigational advanced mapping accessories and microwave ablation.
In recent time, increasing prevalence of diseases, such as cardiac arrhythmias, ophthalmic disorders and epilepsy, is key driver for the BRIC electrophysiology market. These diseases require electrophysiology monitoring for their diagnosis and treatment. In addition increasing aging population is also contributing in the growth of BRIC electrophysiology market. For instance, according to UN reports, developing countries, such as India and China, are expected to have larger geriatric population compared to developed countries such as the U.S. The number of people above 60 years is expected to reach 437 million in China and 324 million in India compared to 107 million in the U.S. by 2050. Elderly people are more susceptible towards cardiovascular and eye related diseases.
Moreover, increasing healthcare funding and advanced features of electrophysiology devices have also fueled the growth of BRIC electrophysiology market. However, stringent government regulation is key restraint for BRIC electrophysiology market. In addition, high cost of electrophysiology devices and presence of alternative technologies for diagnosis and treatment of diseases also obstructs the growth of BRIC electrophysiology market.
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Some of the major companies operating in the BRIC electrophysiology market are St. Jude Medical, Inc., Biosense Webster, Inc., Biotronik SE & Co. KG, C. R. Bard, Inc., Medtronic, Inc. and Boston Scientific Corporation.
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