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The medical devices industry in the past decade has witnessed unprecedented growth owing to improved and innovative technologies and the development of state-of-the-art infrastructural facilities. Technologies such as 3D printing offer market players a plethora of growth opportunities in the field of personalized medicine. Faster regulatory approvals and consistent R&D activities have had a positive impact on the medical devices as well as pharmaceutical industry.
Electrophysiology catheters are used to record electrophysiological signals (ECG) by applying pacing and recording protocols from inside the heart or through the esophagus, called as intra-cardiac ECG. The difference between the intra-cardiac ECG recording and body surface ECG electrodes is that the former collects signals from the pair of electrodes localized at the tip of the electrophysiology catheter whereas the surface ECG gives the electrical activity of the whole heart. Placing of a pacing electrode inside the heart chamber provides an accurate assessment of conduction time. Electrophysiology catheters determine electrical properties of ventricles and atrium and used to diagnose different detrimental heart conditions such as cardiac arrhythmias, angina, etc.
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Electrophysiology catheters are most commonly used to confirm the diagnosis of atrial fibrillation (AF) and determining the correct treatment for arrhythmia. According to American Heart Association, atrial fibrillation is the most common cause of arrhythmia in the U.S. and AF affected over 5 million people in the U.S. in 2011. Need for accurate procedures to diagnose cardiovascular diseases especially arrhythmias is expected to witness growth in demand for electrophysiology catheters. Electrophysiology catheters have application in both ablation as well as interventional cardiology procedures, however, diagnostic electrophysiology catheters work by intra-cardiac sensing, recording, stimulating and mapping the intra-cardiac electrophysiological potential.
Increasing incidence of cardiac arrhythmia and growing geriatric population across the globe are the primary factors driving the growth of global electrophysiology catheters market over the forecast period. Technological advancements in a diagnosis of arrhythmias such as the introduction of wireless technology in diagnosis have proven to be a milestone in global electrophysiology catheters market. Electrophysiology catheters are always used with cardiac ablation procedures. The number of cardiac ablation procedures has sharply increased after the number of new FDA approvals in 2010. This increase in a number of cardiac ablation procedures would facilitate the growth of global electrophysiology catheters market. However, unawareness towards the procedure in some developing countries is the factor limiting the growth of global electrophysiology catheters market.
The global market for electrophysiology catheters market is segmented on basis of product type, end user, and region:
- Segmentation by Product Type
- Conventional Electrophysiology Catheters
- Advanced Electrophysiology Catheters
- Segmentation by End User
- Hospitals
- Ambulatory surgical centers
- Cardiac Catheterization Labs
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On the basis of product type, the global electrophysiology catheters market can be segmented into conventional electrophysiology catheters and advanced electrophysiology catheters. On the basis of end users, the global electrophysiology catheters market can be segmented into hospitals, ambulatory surgical centers, cardiac catheterization labs etc. Hospital end-user segment is expected witness sharp increase in footfall owing to growing incidence of cardiac diseases, over the forecast period. Some of the established brands of electrophysiology catheters are Xtreme Dynamic, Broad Rx, Blazer, FlexAbility, Supreme, Inquiry etc.
On the basis of regional presence, global electrophysiology catheters market is segmented into five key regions viz. North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. North America will continue to dominate the global electrophysiology catheters market due to high patient volumes. Europe is expected to hold second largest market share in global electrophysiology catheters market due to rising prevalence of cardiovascular diseases. Japan is expected to witness robust growth in electrophysiology catheters market due to technological advancements and growing presence of key players in the country.
The market for electrophysiology catheters is dominated by a small number of international players including Abbott Laboratories (St. Jude Medical), AD Instruments, Boston Scientific Corporation, Transonic Systems Inc., Stryker Corporation, Millar Inc., Sorin Group etc. among others. Acquisition of product lines from established players is emerging as a prominent trend in global electrophysiology catheters market. For instance, Boston Scientific Corporation acquired electrophysiology products portfolio from C. R. Bard Inc., in 2014. Further consolidation of the industry is expected to increase product differentiation and thus aid the market growth over the forecast period.
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The report covers exhaustive analysis on:
- Electrophysiology Catheters Market Segments
- Electrophysiology catheters Market Dynamics
- Historical Actual Market Size, 2013 – 2015
- Electrophysiology catheters Market Size & Forecast 2016 to 2024
- Electrophysiology catheters Current Trends/Issues/Challenges
- Competition & Companies involved
- Electrophysiology catheters Market Drivers and Restraints
Regional analysis includes
- North America
- Latin America
- Europe
- The Asia Pacific
- The Middle East & Africa
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