The Global Electrophysiology (EP) Market is predictable to develop at a significant CAGR of 10.3% from 2014 to 2019.
Although mature markets such as the U.S., Germany, Japan, and the U.K. held larger shares in the electrophysiology market in 2014, the emerging countries in the Asia-Pacific market are poised to grow at higher rate in the next five years. Factors such as rapidly increasing aging population, growing focus of multinational companies on emerging markets, improving and modernizing healthcare infrastructure, and growing number of Electrophysiology (EP) labs are propelling the growth of market in these countries.
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The global electrophysiology market has been segmented on the basis of products and indications.
On the basis of products, the electrophysiology (EP) market is categorized into
- EP diagnostic catheters
- EP diagnostic catheters
- Advanced EP diagnostic catheters
- Ultrasound EP diagnostic catheters
- EP ablation catheters
- Radiofrequency (RF) Electrophysiology ablation catheters
- Cryoablation Electrophysiology (EP) catheters
- Laser ablation systems
- Navigational advanced mapping accessories
- Microwave ablation.
- EP laboratory devices
- X-ray systems
- 3D mapping systems
- EP recording systems
- Remote steering systems
- Intracardiac echocardiography systems (ICE)
- Radiofrequency (RF) ablation generators
On the basis of indication, the Electrophysiology market is divided into
- Atrial fibrillation
- Ventricular fibrillation
- Ventricular tachycardia
- Atrial tachycardia
- Atrial flutter
- Wolff-Parkinson-White (WPW) syndrome
- Atrioventricular nodal reentry tachycardia
Market Drivers of Electrophysiology (EP) Industry:
- Technological advancements
- Growing focus of key market players to integrate technologies and to expand their geographic presence
- Growing prevalence of atrial fibrillation
- Rapid growth in aging population with higher risk of target diseases
- Increasing burden of cardiovascular diseases across the globe
Market Restraints of Electrophysiology (EP) Industry:
- Lack of skilled and experienced electrophysiologists in developing nations
- Unfavorable healthcare reforms in the U.S.
Market Opportunities in Electrophysiology (EP) Industry:
- Emerging markets
- Three-dimensional (3D) mapping systems
Market Challenges in Electrophysiology (EP) Industry:
- Increasing pricing pressure on market players
- Frequent product recalls
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The global electrophysiology market growth is driven by 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. However, lack of skilled and experienced electrophysiologists in developing nations and unfavorable healthcare reforms in the U.S. are restraining the growth of this market.
Leading Market Players in the Global Electrophysiology Market:
- Biosense Webster, Inc. (U.S.)
- Jude Medical, Inc. (U.S.).
- Boston Scientific Corporation (U.S.),
- BIOTRONIK SE & Co. KG (Germany),
- Koninklijke Philips N.V. (The Netherlands),
- GE Healthcare (U.K.),
- Medtronic, Inc. (U.S.),
- Microport Scientific Corporation (China).
Global Electrophysiology Market, By Region:
- North America
- Asia Pacific (APAC)
- Rest of the World (ROW)
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Geographically, North America (comprising the U.S. and Canada) commanded the largest share of the global electrophysiology market in 2014, followed by Europe. The North American electrophysiology market is primarily driven by continuous technological advancements and product innovations, growing number of Electrophysiology (EP) laboratories, and developed healthcare infrastructure. However, stringent regulatory policies for approval of electrophysiology devices and implementation of the U.S. healthcare reforms are restraining the growth of the electrophysiology market in this region.
Agreements, partnerships, collaborations, and joint ventures; and new product launches are the major strategies adopted by market players to achieve growth in the electrophysiology market.
Reasons to Buy the Electrophysiology (EP) Market Report:
From an insight perspective, Electrophysiology (EP) Market research report focuses on various levels of analysis such as industry analysis (industry trends, value chain analysis, supply chain analysis, and Porter’s five forces model), market share analysis of top ten players, and company profiles, which together comprise and discuss basic views on the competitive landscape, emerging and high-growth segments of the electrophysiology market, high-growth regions and countries and their respective drivers, restraints, challenges, and opportunities.
The report will enable both established firms as well as new entrants/smaller firms to gauge the pulse of the market, which in turn will help them garner a greater market share. Firms purchasing the report could use one or a combination of the below mentioned five strategies (market penetration, product development/innovation, market development, market diversification, and competitive assessment) for strengthening their market shares.
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The Electrophysiology (EP) Market report provides insights on the following pointers:
• Market Penetration: Comprehensive information on electrophysiology devices offered by top 10 players in the electrophysiology market. The report analyzes the electrophysiology market by product and indication, across geographies
• Product Development/Innovation: Detailed insights on upcoming technologies, research and development activities, and new product launches in the electrophysiology market
• Market Development: Comprehensive information about lucrative emerging markets. The report analyzes the markets for electrophysiology devices across geographies
• Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the electrophysiology market
• Competitive Assessment: In-depth assessment of market shares, strategies, products, distribution networks, and manufacturing capabilities of leading players in the electrophysiology market.
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