Electrophysiology Market to Reach $8,271 Million, Globally, 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.

Access full summary at: https://www.alliedmarketresearch.com/electrophysiology-devices-market

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.

EP ablation catheters (such as cryoablation EP catheters, radiofrequency ablation catheters, microwave ablation systems, laser ablation systems and navigational advanced mapping accessories) was a leading segment and accounted for more than 35.0% of total share in 2015. Ablation catheters is preferred due to its diversified use in the treatment of cardiac arrhythmias with lower risk and high success rate. Cryoablation EP catheters market is expected to grow at the fastest CAGR of 15.1%, owing to benefits such as less thrombogenic effects compared to RF ablation catheters, high success rate, and faster recovery. Advanced EP diagnostics catheters market is expected to grow at a CAGR of 14.2%, due to technological advancements in the segment.

Atrial fibrillation (AF) indication segment is expected to maintain its lead in the overall electrophysiology market due to its high incidence rate, especially in the developed economies. Although, the AF cases are prevalent in the developing economies, the low awareness, less initiative for preventive care, and unmet medical needs at economical cost has restricted the market growth. Conversely, the growing demand of electrophysiology devices in the developed economies such as North America and Europe has further boosted the market growth due to the high incidence rate of AF, rapidly increasing ageing population, and growing number of EP labs. Furthermore, atrioventricular nodal reentry tachycardia (AVNRT) indication is anticipated to exhibit the highest growth, with a CAGR of 14.8%. The aforementioned is due to the most common regular supraventricular arrhythmia in humans. Nevertheless, despite the smaller target market, it is expected that the cryoablation procedures performed for the treatment of AVNRT will increase at a moderate rate attributable to the physicians adoption of the product and an increase in the number of AVNRT procedures worldwide.

Request for sample report at: https://goo.gl/rqnYx9

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. In addition, presence of highly sophisticated healthcare infrastructure, rising interventional procedures for the treatment of cardiac arrhythmias especially atrial fibrillation, and favorable reimbursement scenario has propelled the market growth. However, Asia-Pacific region is anticipated to grow rapidly attributed to the presence of ample growth opportunities in terms of unmet medical needs for the treatment of cardiac arrhythmias in this region and quest for improved quality of life in emerging countries.

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.

Allied Market Research is a global market research and business consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions”. AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

Our market research department starts with the research task considering specific concerns and ambitions of the client. We understand that every market is driven by certain key factors locally as well as globally. Our analysts dig out those factors, helping clients understand the importance and impact of every such driving force. Moreover, possible restraints of the market are discovered and suggestions to tackle those restraints are formulated after extensive research and analysis of the overall market conditions. Making an even deeper insight, we analyze the market trend including both qualitative and quantitative present market scenario in every geographical region segmented as per the business domain concerned and overall performance in different regions throughout the globe.

5933 NE Win Sivers Drive,
#205, Portland, OR 97220,
United States.
Int'l: +1-503-894-6022
Toll Free: +1-800-792-5285
Fax: +1-800-792-5285
help@alliedmarketresearch.com

This release was published on openPR.