Report Description:
The global electrophysiology market was $3,420 million in 2015 and is expected to reach $8,271 million by 2022, growing at a CAGR of 13.4% from 2016 to 2022. Electrophysiology (EP) is the branch of cardiology that deals with the diagnosis and treatment of heart rhythm disorders. The EP study helps in the assessment of electrical impulses of the heart and to evaluate abnormal heartbeats. The significant advancement in the EP technologies have enhanced the ability to target the areas of the heart perpetuating that leads to atrial fibrillation (AF). The growing development has improved the diagnosis and treatment of other cardiac arrhythmias as well that include atrial flutter, Wolff-Parkinson-White Syndrome (WPW), atrioventricular nodal reentry tachycardia (AVNRT), and others.
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The electrophysiology market is segmented based on product type into EP ablation catheters, EP laboratory devices, EP diagnostic catheters, access devices and others. The EP ablation catheters holds a remarkable share in the global electrophysiology market and is expected to grow at the fastest rate during the study period. This is attributed by the growing preference of catheter ablation for the treatment of cardiac arrhythmias and increased adoption by the physicians.
Segment Review:EP ablation is a minimally invasive procedure, which employs catheters to destroy faulty electrical pathways from heart. The device is useful to remove abnormal heart tissues that causes irregular heart rhythms. Radiofrequency and cryoablation are the most widely used EP ablation catheters and are expected to increase significantly with the advancement in the technology. In addition, the number of ablation procedures performed for the treatment of atrial fibrillation is expected to increase substantially in the foresee future. Catheter ablation is a low-risk process with high success rate, making it a most preferred modality for the treatment of cardiac arrhythmias. The treatment of cardiac arrhythmias especially atrial fibrillation by cardiac ablation is the potential target areas for investment by the key players in the electrophysiology market.
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The Global electrophysiology market is projected reach $8,271 Million by 2022, growing at a CAGR of 13.4% during 2016 to 2022, augmenting the demand for electrophysiology devices. Additionally, atrial fibrillation accounted for the major share in the electrophysiology market in 2015. Moreover, cryoablation is poised to grow at a highest CAGR of 15.1% from 2016 to 2022.
Asia Pacific Electrophysiology Market Scenario
The Asia-Pacific region includes China, Japan, India, Australia, South Korea, and other countries in the Asia-Pacific Rim. The Asia-Pacific region offers lucrative opportunities in the electrophysiology market, and is anticipated to be the fastest growing market during the forecast period. Asia-Pacifc is densly populated with India and China being the most populated countries. Emerging economies such as India and China provide attractive opportinities for growth to electrophysilogical device manufactures. The growth is supplemented by the growing demand for advanced electrophysiology devices, improving healthcare reforms, high prevalence of cardiac arrhythmias, and increased focus of key players for developing technologically advanced cost-effective electrophysiology devices in this region. However, the unfavorable reimbursement scenario for electrophysiology devices, low awareness among physicians & patients about different EP devices, and high cost of these devices are likely to impede the growth of the electrophysiology market in these countries. Furthermore, in Japan, the atrial fibrillation rate among geriatric population is 2-3%. With the rise in ageing population, it is estimated that about 1 million population by 2050 will be affected by atrial fibrillation, thereby driving the electrophysiology devices market.
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Table of Content:
Chapter: 1 INTRODUCTION
1.1 Report description
1.2 Key market benefits
1.3 Key market segments:
1.4 Research methodology
1.4.1 Secondary research
1.4.2 Primary research
1.4.3 Analyst tools and models
Chapter: 2 EXECUTIVE SUMMARY
2.1 CXO perspective
Chapter: 3 MARKET OVERVIEW
3.1 Market definition and scope
3.2 Key findings
3.2.1 Top investment pockets
3.2.2 Top winning strategies
3.3 Porters five forces analysis
3.3.1 Bargaining power of suppliers
3.3.2 Bargaining power of buyers
3.3.3 Threats of new entrants
3.3.4 Threats of substitutes
3.3.5 High intensity of rivalry
3.4 Market share analysis, 2015
3.5 Market dynamics
3.5.1 Drivers
3.5.1.1 Technological advancements in EP Devices
3.5.1.2 Growing incidence of AF due to increasing baby booming generation
3.5.1.3 Unmet medical needs with upcoming treartment modifictions
3.5.1.4 Increasing preference of EP catheter ablation for cardiac arrhythmia treatment
3.5.2 Restraints
3.5.2.1 High cost of the EP Device
3.5.2.2 Dearth of skilled electrophysiologists
3.5.2.3 Preference to pharmaceutical interventions (drugs) over EP treatment devices
3.5.3 Opportunities
3.5.3.1 Lucrative opportunities in emerging economies
3.5.3.2 Rising awareness regarding the EP technologies
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