Home » Business, Health & Medicine, Pharmaceuticals & Biotech » Electrophysiology Devices Market Is Expected To Grow Rapidly Owing To Huge Demand In End User Industries Till 2020: Grand View Research, Inc.
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GrandViewResearch.com has announced the addition of “Global Electrophysiology Devices Market Analysis And Segment Forecasts To 2020” Market Research report to their Database.

The electrophysiology devices market is projected to reach USD 6.19 billion by 2022. The market was previously estimated to be worth USD 2.7 billion in 2013. It is predicted to grow at a 12.4% CAGR over the forecast period (2014-2020). The geriatric population and rising cases of cardiac arrhythmias are major drivers of the market. Cases of cardiovascular diseases (CVD) have increased due to bad lifestyle habits such as alcohol and smoking.

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New technologies like laser ablation, ultrasound ablation, and cryo-ablation are expected to boost device usage rates over the forecast period. Physicians gaining experience in using these devices to diagnose CVDs have further spurred device sales. But high costs of electrophysiology devices and presence of alternate therapies threaten electrophysiology devices market growth.

Electrophysiology treatment and monitoring devices are two applications of the electrophysiology devices market. The latter accounted for more than 60% of the overall market revenue in 2013. High usage rates of ECG as a tool to detect and monitor arrhythmias is a major factor contributing to its large market share.

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Electrophysiology monitoring devices are further sub-divided into X-ray systems, electromyography (EMG), electrocardiograph (ECG), electrocorticograph (ECOG), diagnostic electrophysiology catheters, and Holter monitoring devices. X-ray systems were the leading monitoring devices in 2013. These digital portable systems which enhance interventional capability of physicians is one of the major drivers of this segment. Diagnostic electrophysiology catheters are expected to grow at a 15% CAGR throughout the forecast period. Rapid growth is expected in this segment on account of catheter ablation being the primary treatment for rhythm disorders with over 95% success rates.

Electrophysiology treatment devices encompass catheters, pacemakers, and implantable cardioverter defibrillators (IVD). Catheters were the largest selling treatment device in 2013. This can be attributed to usage of these devices in intraventional procedures.

North America was the largest market in 2013, accounting for 30% share in the same year. This can be attributed to the sophisticated healthcare infrastructure and favorable reimbursement policies in the region. Asia Pacific will be a lucrative market with growth opportunities from untapped regions of India and China.

Notable players of the electrophysiology devices market are Philips Healthcare, Abbott Laboratories, Boston Scientific, St. Jude Medical, and GE Healthcare. Investing in research and development and launching new products to expand the existing consumer base is the strategy adopted by market players.

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About Grand View Research

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

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