Global Electrophysiology Devices Market: Snapshot
The overall global electrophysiology devices market is characterized by robust competition. This is because of companies’ focus on cutting-edge research and development to build better products. They are also seen building synergies through strategic mergers and acquisitions and eyeing under-tapped markets of China and India.
Mainly serving to drive the global electrophysiology devices market is the rising cases of cardiovascular diseases. According to WHO, it is one of the leading causes of death in the world. Electrophysiology devices are basically cardiology specialty devices meant for diagnosis and treatment of cardiac arrhythmias and atrial fibrillation. A surge in the geriatric population worldwide, who are highly susceptible to cardiac diseases, and rising consumption of alcohol and smoking are expected to underpin global electrophysiology devices market in the near term.
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Apart from the aforementioned factors, the global electrophysiology devices market is also likely to be boosted by the technological progress in the field leading to the launch of more evolved and effective products.
As per a report by Transparency Market Research, the global electrophysiology devices market is rising at a steady double digit CAGR.
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Cardiovascular Disorders, Namely Ventricular Tachycardia, Mainly Fuelling Market
The global electrophysiology monitoring devices can be broadly segmented on the basis of products into electrophysiology monitoring devices and electrophysiology treatment devices. The electrophysiology monitoring devices are comprised of electrocorticograph (ECoG), electrocardiograph (ECG), electromyograph (EMG), electroencephalograph (EEG), electrooculograph (EOG), electroretinograph (ERG), x-ray systems, imaging and 3D mapping systems, diagnostic clectrophysiology catheters, and holter monitoring devices. The electrophysiology treatment devices, on the other hand, were 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 fuelling the electrophysiology monitoring devices market substantially.
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