Electrophysiology (EP) Market Worth $4.73 Billion by 2019
Jun 24, 2015, 05:30 ET
DALLAS, June 24, 2015 /PRNewswire/ --
According to a new market research report "Electrophysiology Market by Product (Diagnostic Catheter (Conventional, Advanced, Ultrasound), Ablation Catheter (Cryoablation, RF, Microwave), Lab Devices (Mapping, Recording, Generator, ICE, X-ray)) & Indication (AF, VT, WPW) - Global Forecasts to 2019 ", published by MarketsandMarkets, the Electrophysiology (EP) Market is expected to reach around ~$4.73 Billion by 2019 with a CAGR of around 10.3% during the forecast period (2014 to 2019).
Browse 90 market data Tables and 61 Figures spread through 190Pages and in-depth TOC on "Electrophysiology (EP) Market"
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This report studies the Global Electrophysiology Market over the forecast period of 2014 to 2019. The market is expected to reach ~$4.73 Billion by 2019 at CAGR of 10.3% from 2014 to 2019.
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.
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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.
A number of factors such as the development of technologically advanced electrophysiology devices, rapid growth in aging population with high risk of target diseases, increasing incidence of arrhythmia cases across the globe, growing focus of key market players to expand their geographic presence, and increasing demand of catheter ablation procedures are driving the growth of the global electrophysiology market. 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.
Some of the major players 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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