Pune, June 08, 2020 (GLOBE NEWSWIRE) -- The global electrophysiology devices market size is projected to reach USD 10.51 billion by 2026. According to a report published by Fortune Business Insights, titled “Electrophysiology Devices Market Size, Share & Industry Analysis, By Type (Ablation Catheters, Diagnostic Catheters, Mapping Systems, Accessories & Others), By Application (Atrial Fibrillation, Supraventricular Tachycardia (SVT), Ventricular Tachycardia, and Others), By End User (Hospitals & ASCs, and Specialty Clinics & Diagnostic Centres), and Regional Forecast, 2019-2026,” the market size was USD 4.60 billion in 2018 and is projected to exhibit a CAGR of 10.9% during the forecast period.
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Electrophysiology devices are used in the treatment of severe cardiovascular diseases. The high prevalence of heart-related disorders has created massive product demand across the world. Increasing adoption of habits such as alcohol consumption and smoking will have a positive impact on market growth. The advent of technologically advanced electrophysiology devices has enabled enhanced operating efficiency in surgical procedures. Improving health reimbursement policies, coupled with the increasing investment in healthcare infrastructure will open up a huge potential for market growth.
The report offers detailed insights into the electrophysiology devices market. It encompasses several factors that have made a positive impact on the growth of the market in recent years. The market is segmented on the basis of factors such as product type, application, and end users. Additionally, the market is classified on the basis of regional demographics. Forecast values are evaluated for the period of 2019-2026.
An Overview of the Impact of COVID-19 on this Market:
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Increasing Number of Product Launches to Aid Growth
The report provides an in-depth analysis of the influence of major factors on the market in recent years. Among all factors, the increasing number of product launches have made the highest impact on the growth of the market in recent years. The report highlights a few of the major products of recent years.
In September 2019, Biosense Webster Inc., announced the launch of CARTONET. The device was the world’s first secure cloud-based network, aimed to review and analyze atrial fibrillation cases. The device successfully enhanced the overall efficiency of the procedure. Abbott’s new electrophysiology mapping catheter system was another product that has made a positive impact on the market in recent years.
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Increasing Prevalence of Heart Failure to Aid Growth of the Market in North America
Among all regions, North America is projected to emerge dominant in the coming years. The increasing heart failure rates in several countries across this region, coupled with the increasing adoption of unhealthy lifestyle habits will aid growth of the market in this region. The market in Europe will witness significant growth, owing to the high prevalence of atrial fibrillation in countries such as Germany, Spain, and Italy will contribute to the growth of the market in Europe.
List of the leading companies that are operating in the Electrophysiology Devices Market:
- Abbott
- Medtronic
- Boston Scientific Corporation
- Johnson & Johnson Services, Inc.
- Stereotaxis, Inc.
- AtriCure, Inc.
- AngioDynamics
- Biotronik, Inc
Industry Developments:
- Abbott announced the launch of a new electrophysiology mapping catheter design. The HD grid mapping catheter helps physicians gain a clearer vision during trans catheter ablation procedures.
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Detailed Table of Content:
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- Detailed Product Mapping By Key Market Players
- Prevalence of Tachycardia by Key Regions/ Key Countries, 2018
- Technological Advancements in Electrophysiology Devices
- Key industry Developments - Mergers, Acquisitions and Partnerships
- Global Electrophysiology Devices Market Analysis, Insights and Forecast, 2015-2026
- Key Findings / Summary
- Market Analysis, Insights and Forecast – By Type
- Ablation Catheters
- Diagnostic Catheters
- Mapping System
- Accessories
- Others
- Market Analysis, Insights and Forecast – By Application
- Atrial Fibrillation
- Supraventricular Tachycardia (SVT)
- Ventricular Tachycardia
- Others
- Market Analysis, Insights and Forecast – By End User
- Hospitals & ASC’s
- Specialty Clinics & Diagnostic Centers
- Market Analysis, Insights and Forecast – By Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
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