The electrophysiology devices market had more than $ 2,763 million value in 2013 and is anticipated growth of more than 12% CAGR over the forecast period. Increasing aged population and treatment for cardiovascular illness like atrial fibrillation & arrhythmias is the major providing raise to the market.
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Rapid growth has been observed by these diseases due to increasing occurrence of illness because of lifestyle habits like consuming too much alcohol and smoking. Maximum death due to non-communicable disease was due to cardiovascular disease in 2012 was 17.5 million as per WHO. Speciality device for cardiology is known as electrophysiology device and is used for the identification and cure of cardiac arrhythmias hence rising occurrence of cardiovascular illness is anticipated to drive the market.
Moreover, the market is anticipated to enhance over the forecast period due to new technologies like ultrasound ablation, cryo-ablation, advanced mapping technologies, and laser ablation. Nevertheless, soaring electrophysiology devices expenses, stringent policies and accessibility of varying treatment are features anticipated to obstruct the growth of the market.
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The two application sectors are electrophysiology monitoring devices & electrophysiology cure devices. Electrophysiology monitoring devices witnessed more than 60.0% revenue in 2013. The vast share is due to ECG usage and tools for monitoring arrhythmias. The application sector contains X-ray systems, electrocardiograph, electromyography, electrocorticograph, diagnostic electrophysiology catheters, and holter monitoring devices.
X-ray systems appeared as the major electrophysiology monitoring sector in 2013. Technological R&D like Optima IGS 320 and Innova IGS 520 are anticipated to boost the market with profitable growth prospects.
Electrophysiology treatment devices application sector contains catheters, implantable cardioverter defibrillator, and pacemaker. Catheter had the largest share in the market in this category and is anticipated maximum growth rate over the forecast period. Implantable cardioverter defibrillator is also anticipated at a high growth rate in the future.
North America had the largest market in 2013 due to rising occurrence of cardiac arrhythmia mainly because of the lifestyle habits led by the people. Asia Pacific is having a large untouched market prospect as speedy growth of these target illnesses. China and India’s untouched market entering into mergers and acquisitions is anticipated to witness rise in the shares of the major industries. Some of these industries are Biotronik SE & Co. KG, Siemens Healthcare, GE Healthcare, Boston Scientific, St. Jude Medical Inc., and Abbott Laboratories.
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