(PharmaNewsWire.Com, January 03, 2017 ) Still in its infancy, the electrophysiology (EP) device market has seen significant adoption and market growth as more physicians become experienced in diagnostic and ablation techniques, increasing numbers of hospitals purchase supportive equipment, device prices fall, and efficacy improves. This continued growth is also driven by technological advancements, including the emergence of next-generation ablation technologies, improvements in catheter diagnostics, and advancements in lab systems. Further, as imaging modalities improve, patients are exposed to less radiation than ever before, which will only further drive diagnostics. Still years behind the US, growth in emerging markets is also expected to drive sales, as developing countries look to implement new EP programs and hospitals adopt ablation techniques. Increases in the prevalence of arrhythmia, combined with improved diagnostics and patient awareness, are expected to support industry expansion. Lastly, published studies, clinical evidence and patient awareness will all contribute positively to EP market growth, and will provide further evidence of the effectiveness of catheter ablation.
The EP market is dominated by several key players, including Biosense Webster, St. Jude Medical, Boston Scientific, Medtronic and Biotronik, with the biggest markets in the US and EU. With improvements in reimbursement worldwide, as well as advancements of global distribution channels, devices are being sold in more hospitals than ever, and this is only expected to increase. With only a few key players in the market currently, competition remains high, as industry leaders fight for valuable market share.
GlobalData has released its medical device report, Electrophysiology Global Analysis and Market Forecasts. The report offers a comprehensive analysis of the global EP market, including development and sales of ablation catheters, diagnostic catheters and lab systems in the US, Germany, Italy, Spain, UK, France, China, India, Japan and Brazil. Included within is an examination of the drivers, opportunities and barriers impacting growth of the EP market worldwide, with an in-depth breakdown of the EP market seven-year global forecast. The report identifies and evaluates key trends and unmet needs shaping the global EP market through 2020, highlighting testimonials from top physicians around the world who are utilizing these devices. Future sales expectations are discussed through careful analysis of EP use adoption patterns in the ten major markets. The report provides insight into the competitive EP landscape, including new companies approaching commercialization and pipeline products in development. It quantifies the potential of rising use of advanced ablation and diagnostic catheters, as well as examines the impact of next-generation mapping and navigation technology on patient outcomes. Included in the report is investigation of the highest growth sectors for EP, with a focus on next-generation technologies due to enter the market, including laser energy and three-dimensional mapping technology. This report was built using data and information sourced from proprietary databases, primary and secondary research and in-house analysis by GlobalDatas team of cardiovascular medical device experts.
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