Global Electrophysiology Market: Overview
The branch of science that deals with the study related to the electric activity in the human body are known as electrophysiology. The electrophysiological devices are used to detect any abnormality in these electrical impulses given out by the tissues or cells in the human body. The cardiac arrhythmias are detected using electrophysiology devices as half the population is suffering from it. The advanced innovative electrophysiology technologies are used to advance the diagnosis and treatment of serious conditions, for example, atrioventricular nodal reentry tachycardia, atrial fibrillation, Wolff-Parkinson-White Syndrome, atrial flutter, and other cardiac arrhythmias.
Global Electrophysiology Market: Growth Factors
The major factors such as technological advancement in the electrophysiology devices, increasing diseases along with growing aging populations, arrhythmia cases rise, and major player’s expansion throughout the globe is expected to boost the electrophysiology market. The electrophysiology market is restrained due to the minimal skilled or experienced electrophysiologists in the emerging nations and disapproving health reforms. The rising prices and the stringent government regulations strain the growth of the global electrophysiology market.
Global Electrophysiology Market: Segmentation
The global electrophysiology market is categorized based on the product, indication, and region. The product segment is further divided into electrophysiology diagnostic catheters, electrophysiology laboratory devices, electrophysiology ablation catheters, and access devices. The electrophysiology diagnostic catheters sub-segment is further divided into ultrasound diagnostic catheters, conventional electrophysiology diagnostic catheters, and advanced electrophysiology diagnostic catheters. The conventional electrophysiology diagnostic catheters sub-segment is further bifurcated into the steerable diagnostic catheter and fixed diagnostic catheter. The electrophysiology laboratory devices sub-segment is divided into electrophysiology recording systems, 3D mapping systems, remote steering systems, X-ray systems, radiofrequency ablation generators, and intracardiac echocardiography systems. The electrophysiology ablation catheter sub-segment is further categorized into laser ablation systems, microwave ablation, cryoablation electrophysiology catheters, navigational advanced mapping accessories, and radiofrequency electrophysiology ablation catheters. The radiofrequency electrophysiology ablation catheters are further grouped into irrigated-tip RF ablation catheters and conventional RF ablation catheters. The indication segment is segmented into ventricular fibrillation, atrial fibrillation, Wolff-Parkinson-white, right atrial flutter, right atrial tachycardia, atrioventricular nodal reentry tachycardia, left atrial flutter, right ventricular tachycardia, and left ventricular tachycardia. The regional segmentation includes Asia-Pacific, Europe, North America, and Rest of the World.
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Global Electrophysiology Market: Regional Analysis
North America accounts major of its share in the electrophysiology market followed by Europe. The market in Asia-Pacific region is expected to grow due to increasing demand for the electrophysiology devices in the emerging countries such as Mexico, Brazil, India, and China. The advancement in the healthcare infrastructure, growing geriatric population aging, rising diseases in the developing nations, and cost-effective electrophysiology devices development are the factors fueling the demand for electrophysiology devices in these emerging markets.
Global Electrophysiology Market: Competitive Players
The major players in the global electrophysiology market include BIOTRONIK SE & Co. KG, Abbott Laboratories, Boston Scientific Corporation, Biosense Webster, Inc., Koninklijke Philips N.V., and GE Healthcare. The other players in the global market include Siemens AG, Medtronic, Inc., St. Jude Medical, Inc., and Microport Scientific Corporation.