Albany, NY -- (SBWIRE) -- 11/24/2017 -- Transparency Market Research (TMR) has recently published a new market study on the global electrophysiology devices market. According to it, this market stood at US$2.5 bn in 2012. Analysts at TMR expect it to rise at a CAGR of CAGR of 12.10% during the period from 2013 to 2019 and reach a value of US$5.5 bn by the end of the forecast period.The market report is titled "Electrophysiology Devices Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 - 2019." It further states that the increased incidence of cardiac arrhythmia, stimulated by the rapid rise in the geriatric population across the world, has boosted the demand for electrophysiology devices in the global arena.
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In addition to this, the technical advancement in the field of electrophysiology is likely to propel the global market for electrophysiology devices significantly during the forecast period.The research report studies the global electrophysiology devices market on the basis of the type of device and the regional distribution of this market. Electrophysiology monitoring devices and electrophysiology treatment devices are the two main segments of this market based on device type.
The electrophysiology monitoring devices segment has been classified into electrocardiograph (ECG), electrocorticograph (ECoG), electroencephalograph (EEG), electromyograph (EMG), electrooculograph (EOG), electroretinograph (ERG), imaging and 3D mapping systems, x-ray systems, holter monitoring devices, and diagnostic clectrophysiology catheters.
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The electrophysiology treatment devices segment has been categorized into pacemakers, implantable cardioverter defibrillators (ICDs), cardiac resynchronization therapy devices (CRT), and catheters.
Further, the research report states that the increasing prevalence of cardiovascular disorders such as ventricular tachycardia and atrial fibrillation is the key factor fueling the electrophysiology monitoring devices market substantially.
Regionally, the market study divides the worldwide electrophysiology devices market into North America, Asia Pacific, Europe, and the Rest of the World. Among these, North America emerged as the market leader and Europe acquired the second position in this market in 2012. The rising base of the geriatric population, together with the increasing prevalence of rhythmic cardiac disorders, has augmented the demand for electrophysiology devices in these regions, says the research study.
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On the other hand, analysts project the economic growth in Asia Pacific to lead the demand for electrophysiology devices in this region during the forecast period. Ample presence of untapped opportunities in the Asia Pacific medical and healthcare sector, coupled with an increasing patient pool suffering from arrhythmias, retinal disorders, and epilepsy, is also expected to fuel the Asia Pacific electrophysiology devices market in the coming years, states the market study.
Abbott Laboratories, Boston Scientific, Biotronik SE & Co. KG, GE Healthcare, Medtronic Inc., Johnson & Johnson, Microport, Philips Healthcare, Nihon Kohden Corp., St. Jude Medical Inc., and Siemens Healthcare are some of the key manufacturers of electrophysiology devices mentioned in this research report.
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