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Press release content from MarketersMEDIA. The AP news staff was not involved in its creation.

Electrophysiology Market Statistical Analysis, Key Segments, Benefits and Opportunity and Forecast to 2027

June 28, 2021 GMT

The growing adoption of this device by the physicians or electrophysiologists has catered double digit growth in the study period.

The market is driven by growth in incidence of atrial fibrillation (one of the most common heart rhythm disorder or cardiac arrhythmia), growth in baby boomer generation with high-risk of targeted diseases, and increase in adoption of EP catheter ablation. Rise in focus of the key players toward innovative EP technologies (such as 3D mapping systems, bidirectional duodecapolar diagnostic catheter, remote steering systems, and irrigated-tip RF catheters), and growth in EP labs further drives the market growth. However, stringent government regulations, high cost of the treatment of complex arrhythmias, preference to pharmaceutical interventions (drugs) over, and dearth of skilled & experienced electrophysiologists restrain the market growth.

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Catheter ablation is highly preferred device due to its minimal invasive nature and is designated as “gold standard” modality for treating atrial fibrillation. The growing adoption of this device by the physicians or electrophysiologists has catered double digit growth in the study period.

EP ablation catheters (such as cryoablation EP catheters, radiofrequency ablation catheters, microwave ablation systems, laser ablation systems and navigational advanced mapping accessories) was a leading segment and accounted for more than 35.0% of total share in 2015. Ablation catheters is preferred due to its diversified use in the treatment of cardiac arrhythmias with lower risk and high success rate. Cryoablation EP catheters market is expected to grow at the fastest CAGR of 15.1%, owing to benefits such as less thrombogenic effects compared to RF ablation catheters, high success rate, and faster recovery. Advanced EP diagnostics catheters market is expected to grow at a CAGR of 14.2%, due to technological advancements in the segment.

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Atrial fibrillation (AF) indication segment is expected to maintain its lead in the overall electrophysiology market due to its high incidence rate, especially in the developed economies. Although, the AF cases are prevalent in the developing economies, the low awareness, less initiative for preventive care, and unmet medical needs at economical cost has restricted the market growth. Conversely, the growing demand of electrophysiology devices in the developed economies such as North America and Europe has further boosted the market growth due to the high incidence rate of AF, rapidly increasing ageing population, and growing number of EP labs.

Furthermore, atrioventricular nodal reentry tachycardia (AVNRT) indication is anticipated to exhibit the highest growth, with a CAGR of 14.8%. The aforementioned is due to the most common regular supraventricular arrhythmia in humans. Nevertheless, despite the smaller target market, it is expected that the cryoablation procedures performed for the treatment of AVNRT will increase at a moderate rate attributable to the physicians adoption of the product and an increase in the number of AVNRT procedures worldwide.

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The report provides a comprehensive analysis of the key players that operate in the market St. Jude Medical, Inc., Biosense Webster, Inc. (a Johnson & Johnson Company), Boston Scientific Corporation, GE Healthcare (a division of General Electric Company.), Siemens AG, Medtronic plc, Philips Healthcare (a division of Koninklijke Philips N.V.), Biotronik SE & Co.KG, Microport Scientific Corporation, and Abbott Laboratories are the key players that operate in this market.

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Source URL: https://marketersmedia.com/electrophysiology-market-statistical-analysis-key-segments-benefits-and-opportunity-and-forecast-to-2027/89031347

Source: MarketersMedia

Release ID: 89031347