Overview of the global diagnostic electrophysiology devices market
Cardiac ablation is used as the corrective measure to treat cardiac arrhythmia that is caused by tachycardia, bradycardia, stroke, or cardiac arrest. According to the Centers for Disease Control and Prevention (CDC) almost 3 million to 6 million people suffered from atrial fibrillation (AF) in the US in 2015, where the changes in lifestyle, the high consumption of alcohol, and hypertension were the major factors that increased the prevalence of arrhythmia. Similarly, countries in the EMEA and APAC countries such as India are also witnessing a rise in the incidence of AF. This increasing incidence of arrhythmia is identified as one of the major factors that will fuel the growth of the diagnostic electrophysiology devices market since these devices can monitor irregular heartbeat and facilitate the treatment of abnormal heart function. According to Technavio’s market research report, this market will grow steadily at a CAGR of about 7% by 2021.
Technological advances have enabled vendors to convert large conventional ECG stress test systems into compact and portable systems. Portable ECG devices are suitable for people suffering from chronic diseases such as hypertension, diabetes, and coronary artery disease (CAD). Portable ECG devices allow easy movement and the ambulatory resting ECG monitors are designed specifically for easy home monitoring. The increasing usage of mobile ECG monitoring systems will be one of the key trends that wil gain traction in the diagnostic electrophysiology devices market during the next few years.
Competitive landscape and key vendors
The diagnostic electrophysiology devices market is intensely fragmented due to the presence of several international, regional, and local vendors. The international players account for the major market shares by developing diagnostic EP devices and the regional players develop novel products that improve process efficiency, product efficacy, and patient comfort. EP devices manufacturers compete based on aggressive pricing, product sensitivity, product differentiation, and technology upgrades. Increased consolidation among the vendors will intensify the competitive environment among the players in this marketspace.
The leading vendors in the market are -
Boston Scientific
GE Healthcare
Philips Healthcare
St. Jude Medical
The other prominent vendors in the market are Atrium Medical, Beijing Demax Medical Technology, Biosense Webster, BIOTRONIK, MicroPort Scientific, Millar, Siemens Healthineers, Spacelabs Healthcare, Sterlimed, SUZUKEN, Tyche MedTech, Vimecon, and Welch Allyn.
Segmentation by product type and analysis of the diagnostic electrophysiology devices market
X-ray systems are highly preferred by consumers and digital x-ray systems are highly efficient, accurate, and provide quick delivery of results. The launch of real-time anatomic visualization and innovations in technology will contribute to the growth of the electrophysiology market in this segment. To enhance results for interventional procedures, manufacturers are increasingly focusing on product enhancements and innovations.
Segmentation by end-user and analysis of the diagnostic electrophysiology devices market
Hospitals and clinics
Ambulatory surgical clinics (ASCs)
ASCs provide medical services and conduct surgical and non-surgical procedures in the outpatient setting, saving consumers’ expenses and time. Additionally, ASCs have advanced medical equipment, physicians, and operating rooms, and provide quality services at lower costs. This will increase customer preference towards ASCs, which will consequently fuel the growth of the electrophysiology market in this end-user segment.
Key questions answered in the report include
What will the market size and the growth rate be in 2021?
What are the key factors driving the global diagnostic electrophysiology devices market?
What are the key market trends impacting the growth of the global diagnostic electrophysiology devices market?
What are the challenges to market growth?
Who are the key vendors in the global diagnostic electrophysiology devices market?
What are the market opportunities and threats faced by the vendors in the global diagnostic electrophysiology devices market?
Trending factors influencing the market shares of the Americas, APAC, and EMEA.
What are the key outcomes of the five forces analysis of the global diagnostic electrophysiology devices market?
Technavio also offers customization on reports based on specific client requirement
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