Lewes, DE -- (SBWIRE) -- 03/03/2014 -- The global electrophysiology (EP) market, consisting of ablation catheters, diagnostic catheters and lab systems, is set to experience rapid growth in value over the coming years, climbing from approximately $1.56 billion in 2013 to $2.93 billion by 2020, at a Compound Annual Growth Rate (CAGR) of 9.5%.
The company’s new report* forecasts that standard diagnostic catheters will achieve the largest revenue in the EP market by 2020, with a share of $2,493 million, followed by advanced diagnostic catheters and standard ablation catheters, with shares of $1,223 million and $575 million, respectively.
According to report, this rapid EP industry growth is due to an increasing incidence of arrhythmia, along with rising market penetration of diagnostic and ablation catheters in the Asia-Pacific and South American regions.
Senior Analyst covering Medical Devices, says: “Medical centers that support ablation are increasingly desirable as the global occurrence of cardiac dyssynchrony continues to rise. While atrial fibrillation and ventricular fibrillation are the most common indications for treatment, heart failure, diabetes and obesity can all contribute to ongoing rhythm management concerns.”
Research states that the current EP market is extremely competitive and dominated by several key players, which must continue to innovate in the face of mounting price pressure and strict regulation, as new entrants battle to gain market share.
“Up-and-coming technologies in development, including alternative forms of energy such as cryo-, ultrasound- and laser-ablation, as well as advanced mapping and navigation technologies, promise to increase product sales and new account openings. Meanwhile, industry standards continue to develop in relation to ablation strategies for treatment, therefore improving patient outcomes,” analyst concludes.
This report provides a comprehensive analysis of the global electrophysiology market, including development and sales of ablation catheters, diagnostic catheters and lab systems in the US, Germany, Italy, Spain, the UK, France, China, India, Japan and Brazil.
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