Technavio Announces the Publication of its Research Report Global Electrophysiology Devices Market 2016-2020
Technavio recognizes the following companies as the key players in the global electrophysiology devices market: Boston Scientific, GE Healthcare, Medtronic, Philips Healthcare, and St. Jude Medical
Other Prominent Vendors in the market are: Siemens Healthcare, LivaNova, AngioDynamics, Atrium Medical, Biosense Webster, Cook Group, Edward Lifesciences, Innovative Cardiovascular Solutions, Transverse Medical, Cardiac Science, MicroPortScientific, Welch Allyn, Vimecon, Suzuken, Spacelabs Healthcare, Cardiac Science, Imricor Medical Systems, Advanced Cardiac Therapeutics, and BIOTRONIK
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Commenting on the report, an analyst from Technavios team said: Technological advancements have led to the development of leadless pacemakers. For instance, the Nanostim leadless pacemaker developed by St. Jude Medical has received the CE mark for the commercial launch of the product in the European market. In February 2016, US FDA conducted the review meeting for the pacemaker device to discuss the adoption and success rate of the device. Leadless pacemakers are developed to reduce the risk of pocket infections, lead dislodgement, fracture or perforation, and extrusion of the pacemaker through the skin. In April 2016, the US FDA approved the first leadless pacemaker, the Micra Transcatheter Pacing System by Medtronic. The device has cleared the FDA trial with success rate of a clinical trial on 715 patients. About 95% of the patients were comfortable with the device reported heart pacing and 5% of the patients suffered from complications such as deep vein thrombosis, pulmonary embolism, and heart injury.
According to the report, there is an increasing demand for the remote monitoring devices for the better treatment. There are some remote and home monitoring devices available for ICDs, CRT devices, and pacemakers. Non-wireless systems transmit pacemaker data using a magnetic sensor. These monitoring systems are wireless and automated, which download patient data from the device using radio transmissions that help in easy communication. Due to the high cost of remote monitoring devices, the adoption rate is low. However, there are few key vendors who are trying to reduce the cost of remote monitoring devices and increase the adoption rate across the world. The first remote monitoring device was launched in 2001 by Biotronik, followed by Medtronic in 2005, Boston Scientific in 2006, and St. Jude Medical in 2007. The number of patients using remote monitoring device has increased over a period of time.
Further, the report states that there is an increasing demand for the EP devices in the market. The EP devices market offers a wide range of products for the diagnosis and treatment of cardiac health problems. The physician preference plays a key role in driving the demand for EP devices.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.
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About Electrophysiology Devices
Cardiovascular diseases (CVDs) are associated with high mortality rate all over the world. Strokes and heart attacks are two major types of CVD contributing to the growing mortality rate globally. According to the Centers for Disease Control and Prevention (CDC), coronary heart disease (CHD) is the most common type of CVD resulting in heart attack in the US. In the US, about 370,000 people die due to CHD every year. The EP diagnostics and treatment devices such as ablation catheters, pacemakers, and implantable cardioverter defibrillators (ICDs) are used extensively for the CVD treatment.
Technavios analysts forecast the global electrophysiology devices market to grow at a CAGR of 7.91% during the period 2016-2020.
Covered in this report
The report covers the present scenario and the growth prospects of the global electrophysiology devices market for 2016-2020. To calculate the market size, the report considers the revenue generated from the sales of electrophysiology devices.
The market is divided into the following segments based on geography:
Technavio’s report, Global Electrophysiology Devices Market 2016-2020, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
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