The global electrophysiology therapeutic devices market is expected to grow from $2.3 billion in 2017 to $4.7 billion by 2028, at a Compound Annual Growth Rate (CAGR) of 10%. The market is driven mainly by the increasing prevalence of chronic heart diseases and consequent demand for EP diagnostic catheters.
EP therapeutic devices are a group of medical equipment used in the diagnosis and treatment of heart-related diseases. They include both diagnostic catheters for assessing conduction within the heart, as well as ablation (or cutting) devices that destroy or modify tissue to repair diseased areas. A common use for EP therapeutic device is cardiac arrhythmia control, such as atrial fibrillation; this can be achieved by slowing down irregular electrical signals through targeted electrode delivery using an electrophysiology catheter. The market is largely driven by the increasing prevalence of chronic heart disease which subsequently leads to demand for EP diagnostic catheters.
On the basis of type, the global EP therapeutic devices market is segmented into conventional, advanced, and ultrasound.
Conventional EP therapeutic devices are catheters that can be used for diagnostic and ablation purposes. The device is inserted into the body via a vein to reach an affected organ or tissue, which is then treated by applying energy such as radiofrequency waves, hot water vapor (HWT), or laser beams. Examples of these types of treatments include cardioversion & defibrillation in arrhythmic patients with atrial fibrillation and pulmonary vein isolation during ablative surgery procedures like maze procedure.
Advanced EP therapeutic devices use stimulation technology for delivering electric currents targeting abnormal electrical signals within the heart, nervous system, or other parts of the body; this includes pacemakers/synthetic cardiac systems. Advanced EP therapeutic devices are used for treating different types of cardiac arrhythmias (atrial fibrillation, ventricular tachycardia) and some neurological disorders like epilepsy and Parkinson's disease. It is also applied in certain procedures such as ablative surgery or pulmonary vein isolation during ablation procedure called the maze procedure.
Ultrasound EP therapeutic devices are used for diagnostic procedures in an electrophysiology lab. These devices visualize cardiac tissue by using sound waves that can be seen on a monitor and allow real-time imaging of heart chambers, valves, blood vessels, as well as any other abnormalities or diseases within it. It is noninvasive with no risk to major organs such as the liver, kidneys, etc., which makes this procedure advantageous over invasive ones like angiography.
It helps in identifying arrhythmias (abnormal electrical signals) during emergency treatment situations when time is crucial to saving lives; also known as ‘catheter ablation’ where the treatable arrhythmia is detected through ultrasound EP diagnostic catheters.
On the basis of application, the global EP therapeutic devices market is segmented into hospitals, laboratories, and others.
It is used to diagnose and treat arrhythmias, as well as determine any other abnormalities or diseases of the heart. It helps in identifying arrhythmias during emergency treatment situations when time is crucial to saving lives; also known as 'catheter ablation’ where the treatable arrhythmia is detected through ultrasound EP diagnostic catheters. The procedure can be done with minimal impact on major organs such liver kidneys etc., which makes this procedure advantageous over invasive ones like angiography.
The EP therapeutic devices are used in laboratories to diagnose and treat a wide range of heart disorders. These include atrial fibrillation, ventricular tachycardia, supraventricular arrhythmias, Wolff-Parkinson White Syndrome (WPW), bundle branch block (BBD) syndrome, AV nodal reentry tachycardia (AVNRT), and many more.
EP therapeutic devices are used for diagnosis and research purposes in laboratory environments. It provides a visual representation of electrical activity within chambers of the heart allowing real-time assessment of arrhythmias.
On the basis of region, the global EP therapeutic devices market is segmented into North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. In 2016 North America held the dominant position in the global EP therapeutic devices market with respect to revenue contribution while the European region was the close second largest contributor.
The reason for this is that there are more hospitals containing EP laboratories in North American regions as compared to other parts of the world; also due to low-cost healthcare facilities such as clinics found in Canada or Mexico which provide clinical diagnosis services at relatively lower prices.
In terms of percentage share, Brazil contributed the highest number of regional revenue followed by Mexico who had strong growth during the last five years mainly because they have a huge population living below the poverty line and hence need access to these diagnostic catheters for their treatment without having any affordability constraints.
Asia Pacific region is one of the fastest-growing regions in terms of the EP market as it has the largest population and a lesser number of hospitals. It contributed around 50% of revenue during the last five years with a strong growth rate, mainly because they have comparatively low-cost healthcare facilities such as clinics found in China or India which provide clinical diagnosis services at relatively lower prices.
Australia also showed a promising future during the last five years due to increasing investments from multinationals for marketing their products locally and increasing awareness amongst people about good health care practices including detection of heart problems early on time; hence contributing towards more diagnostic catheters sales.
Many factors such as the increasing prevalence of cardiovascular diseases, the growing geriatric population, and technological advancements in this field are driving the growth of the EP diagnostics market. The advances in nanotechnology have increased accuracy for predicting arrhythmias and their treatment with devices that can cross tissue barriers more easily than traditional catheters - also known as intravascular ultrasound (IVUS) or echocardiography-guided transcatheter aortic valve implantation (TAVI).
Up Market Research published a new report titled “Electrophysiology Therapeutic Devices Market research report which is segmented by Types (Conventional EP Diagnostic Catheters, Advanced EP, Diagnostic Catheters, Ultrasound EP Diagnostic Catheters), By Applications (Hospital, Laboratory, Others), By Players/Companies Agito Medical, Cardinal Health, Centurion Medical Products, Dre Medical, Ethicon-Endo Surgery, Ge Healthcare, Hygia Health Services, Integrity Medical Systems, Koninklinjke Philips, Medline, Radiology Oncology Systems, Renu Medical, Siemens, Stryker, Vanguard”. As per the study the market is expected to grow at a CAGR of XX% in the forecast period.
|Report Attributes||Report Details|
|Report Title||Electrophysiology Therapeutic Devices Market Research Report|
|By Type||Conventional EP Diagnostic Catheters, Advanced EP, Diagnostic Catheters, Ultrasound EP Diagnostic Catheters|
|By Application||Hospital, Laboratory, Others|
|By Companies||Agito Medical, Cardinal Health, Centurion Medical Products, Dre Medical, Ethicon-Endo Surgery, Ge Healthcare, Hygia Health Services, Integrity Medical Systems, Koninklinjke Philips, Medline, Radiology Oncology Systems, Renu Medical, Siemens, Stryker, Vanguard|
|Regions Covered||North America, Europe, APAC, Latin America, MEA|
|Historical Year||2018 to 2019 (Data from 2010 can be provided as per availability)|
|Number of Pages||243|
|Number of Tables & Figures||171|
|Customization Available||Yes, the report can be customized as per your need.|
The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include products, applications, and competitor analysis.
The market is segmented by Type Conventional EP Diagnostic Catheters, Advanced EP, Diagnostic Catheters, Ultrasound EP Diagnostic Catheters and By Application Hospital, Laboratory, Others.
Some of the companies that are profiled in this report are:
Electrophysiology Therapeutic Devices Market research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period. It is a professional and a detailed report focusing on primary and secondary drivers, market share, leading segments and geographical analysis. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report.
Key Benefits for Industry Participants & Stakeholders:
Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. The Europe region is further categorized into U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe. Asia Pacific is further segmented into China, Japan, South Korea, India, Australia, South East Asia, and Rest of Asia Pacific. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, and the MEA region is further divided into GCC, Turkey, South Africa, and Rest of MEA.
We have studied the Electrophysiology Therapeutic Devices Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2028.
How you may use our products:
Reasons to Purchase the Electrophysiology Therapeutic Devices Market Report:
Some other reports from this category!