$2.36 Billion Global Electrophysiology Devices And Equipment Market Size, Growth, Segmentation And Forecast Report
The Business Research Company’s Electrophysiology
Devices And Equipment Market covers market characteristics, size and
growth, segmentation, regional and country breakdowns, competitive landscape,
market shares, trends and strategies for this market.
The electrophysiology devices and
equipment market consists of sales of electrophysiology devices and equipment
and related services. Electrophysiology devices and equipment are used in the
diagnosis and treatment of heart rhythm disorders through electrical activity.
The market is segmented by product type into electrophysiology ablation
catheters, electrophysiology diagnostic catheters and electrophysiology lab
systems.
Major players in the market are St. Jude Medical, Boston Scientific
Corporation, Abbott Laboratories, GE Healthcare and Philips Healthcare.
Increase in prevalence rate of
cardiovascular diseases (CVD) forms one of the major driver for the industries
operating in electrophysiology devices and equipment market. CVD cases remains
the leading cause of death across globe, which increases the demand for a quick
and effective treatment of the disease, thus increasing the demand for
electrophysiology devices. According to the data released by American Heart
Association (AHA) in 2019, at least 48% of all the adults in the USA have some
form of cardiovascular disease. CVD prevalence excluding high blood pressure
among adults in the USA is 9% (24.3 million in 2016). Also, according to the
Centers for Disease Control and Prevention (CDC), in 2017, 2.7 to 6.1 million
people in the USA were suffering from atrial fibrillation, which is the most
common type of heart arrhythmia.
Lack of uniformity in the
regulations governing the electrophysiology devices and equipment industry
sometimes restrict the companies in the market from expanding globally, thereby
hampering the market’s growth. The impact of individual country regulatory
requirements can have huge implications to the availability of new
electrophysiology devices and equipment. According to regulations in few
geographies, the manufacturers are required to conduct clinical trials
(premarket and/or post-market) be either in whole or in part within a country.
However, in markets such as Brazil, Japan, India, and China where local
regulations are still in nascent stage, the cost to run the trials incur to the
manufacturers. Example, trials for devices like cardiac rhythm management (CRM)
in multiple countries has less merit, and does not reflect the true test
results as it becomes difficult for the manufacturers to provide sufficient
devices to run tests.
View complete Report: https://www.thebusinessresearchcompany.com/report/electrophysiology-devices-and-equipment-global-market-report
In order to increase the profit margins and sales, the
companies operating in the Electrophysiology (EP) devices and equipment
industry are coming up with new technologies aimed towards improving EP mapping
and localization technology. EP mapping is a procedure used to diagnose the
origins of the abnormal heart rythms. This procedure uses an electrically
sensitive catheter. With improved mapping technologies it becomes easy to
detect and locate the abnormalities in heart.
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