Use of electrophysiology devices in treatment of cardiovascular diseases like atrila fibrillation and arrhythmias coupled with augmenting geriatric population base are the major drivers for the industry. The targets diseases have undergone considerable growth in incidence rates due to rising prevalence of disease causing lifestyle habits like excessive alcohol consumption and smoking. According to WHO, cardiovascular diseases caused over 17 million deaths in 2012 globally. These devices are used mainly in treatment and diagnosis of cardiac arrhythmias and consequently, the increase prevalence of cardiovascular disease are projected to impact the market.
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The global electrophysiology market was estimated at USD 2,760.6 million in 2013 and is further projected to grow a t a CAGR of over 12%. Electrophysiology monitoring devices and electrophysiology treatment devices are two major application segments in the market. In 2013, electrophysiology monitoring devices contributed for over 60% of the market share. Increasing usage rates of monitoring tool for arrhythmias and standard diagnostic is the major factor attributing to its major share. This segment involves holter monitoring devices, elctromyograph, x-ray systems and electrocardiograph.
In 2013, X-ray systems appeared as the major electrophysiology monitoring segment. Introduction of digital and portable systems coupled rising use of interventional medical procedures .The electrophysiology treatment devices market includes pacemakers, implantable cardioverter defibrillators and catheters.
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Catheters are expected to grow at the significant rate over the forecast period, therefore, were the largest sub-segment. Rising minimally invasive surgeries demand like catheter ablation is one of the factors contributing for rapid growth.
ICD is also projected to grow at the healthy rate over the coming years. According to the U.S, FDA, the use of ICD has increased greatly over the forecast period to clinically prevent circumstances that direct the immediate cardiac deaths.
In 2013, North America led the regional electrophysiology devices market. This was mainly due to rising prevalence of cardiac arrhymia in this region .Favorable reimbursement policies coupled with Existence of sophisticated healthcare infrastructure
In terms of fast growing incidences rates and unmet medical needs, Asia Pacific markets has huge existence of untapped opportunities. Rising patient awareness coupled with enhanced healthcare infrastructure in the region will assist manufactures to capitalize on these available opportunities.
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