Overview of the global electrophysiology diagnostic catheters market
According to Technavio’s market research report, the global electrophysiology diagnostic catheters market will grow at a CAGR of more than 9% during the forecast period. The increasing use of minimally invasive (MI) techniques is one of the key drivers that will have a positive influence on the market’s growth till 2021. There is a growing demand for MI techniques for managing patients with cardiac arrhythmias. Atrial fibrillation is the most common cardiac arrhythmia observed in these patients. MI surgeries such as cardiac ablation procedures are used to destroy areas in the heart that causes heart rhythm problems. This technique is gaining popularity over conventional surgeries, radiation therapy, and systematic chemotherapy and is used to manage diseases such as tumors. Consequently, the demand for electrophysiology (EP) diagnostic catheters for patients undergoing diagnosis for cardiac arrhythmia will increase during the estimated period. Patients highly prefer MI surgeries over traditional open surgeries because it reduces the risk of infection, causes minimal complications, involves a shorter hospital stay, and enables faster recovery.
The US is witnessing a high adoption of advanced EP catheters due to the growing prevalence of cardiac arrhythmia and the increasing aging population. This market study estimates that in terms of geographic regions, the Americas accounted for the majority shares of the EP diagnostic catheters market during 2016.
Competitive landscape and key vendors
The EP diagnostic catheters market is highly concentrated with the presence of diversified international players and local vendors. Many vendors are increasingly taking efforts to sustain in the competitive environment by adopting the strategic acquisitions and partnerships. International players are increasingly focusing on increasing their footprint. As a result, local vendors are finding it difficult to compete against the global players especially in terms of quality, features, and capability of the EP diagnostic catheters. The increase in technological innovations and product extensions will strengthen the market’s competitive environment. To remain competitive, few vendors are also adopting strategies such as M&As.
Key vendors in this market are -
- St. Jude Medical
- Boston Scientific
- Biosense Webster
- Medtronic
- Biotronik
Other prominent vendors in the market include Abbott, AngioDynamics, Cardiac Science, MicroPort Scientific, Siemens Healthcare, and Welch Allyn.
Segmentation by product and analysis of the electrophysiology diagnostic catheters market
- Conventional EP diagnostic catheters
- Advanced EP diagnostic catheters
Owing to the growing prevalence of cardiovascular diseases, especially cardiac arrhythmias, the advanced EP diagnostic catheters segment accounted for the majority market shares during 2016. Atrial fibrillation (AF) causes several serious cardiovascular complications including stroke. The rising incidence of AF will drive the market’s segment growth during the predicted period. As a result, manufacturers will heavily invest in research activities to develop advanced AF ablation technologies.
Segmentation by end-user and analysis of the electrophysiology diagnostic catheters market
- Hospitals
- Diagnostic centers or EP labs
- ASCs
Patients highly prefer hospitals over other healthcare centers because hospitals offer a large number of inpatient and outpatient services. The availability of advanced medical infrastructure and the presence of trained professionals will fuel the influx of patients suffering from stroke, cardiac arrhythmias, and heart failure. The rising number of procedures carried out for stroke, cardiac arrhythmias, and heart failure in hospitals will drive the sales of EP diagnostic catheters in this end-user segment until the end of 2021.
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 electrophysiology diagnostic catheters market?
- What are the key market trends impacting the growth of the global electrophysiology diagnostic catheters market?
- What are the challenges to market growth?
- Who are the key vendors in the global electrophysiology diagnostic catheters market?
- What are the market opportunities and threats faced by the vendors in the global electrophysiology diagnostic catheters market?
- What are the 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 electrophysiology diagnostic catheters market?
Technavio also offers customization on reports based on specific client requirement.
Technavio’s reports for the patient monitoring devices portfolio cover a range of markets including cardiovascular devices. Technavio also offers information on many attributes like the consumer behavior shifts and the demand-supply shifts in the healthcare and life sciences services industry’s market space.
To successfully forecast the patient monitoring devices industry’s growth outlook, our market research specialists follow a triangulated approach of qualitative and quantitative research and conduct an extensive analysis of the demand-supply shifts across various markets around the globe. Our highly awaited market research report on the global electrophysiology diagnostic catheters market for the forecasted period of 2017 to 2021 also offers a complete summary built from the statistics collected from reliable sources of information such as producers, suppliers, regulatory bodies, and stakeholders.
This upcoming industry research report on the global electrophysiology diagnostic catheters market also considers the growth of similar markets such as critical care therapeutics, which is expected to grow at a CAGR of 4% by 2021.
This upcoming industry report on the global electrophysiology diagnostic catheters market also enlists the market trends, emerging drivers, and the challenges currently come across by the healthcare and life sciences industry and also presents insights into orthopedics and general medical devices.