Global electrophysiology devices market is expected to rise to an estimated value of USD 12.86 billion by 2026, registering a healthy CAGR in the forecast period of 2019-2026. This rise in market value can be attributed to the growing demands for these devices from the variety of developing regions of the world.
Electrophysiology devices are the medical devices utilized in the electrophysiology diagnostic and treatment procedures. Electrophysiology is carried out for the assessment of an individual’s condition of the heart, helping physician’s identify arrhythmia or vulnerable heartbeats. These devices vary in functionalities and components with each different device providing individual benefits.
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Global electrophysiology devices market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of electrophysiology devices market for Global, Europe, North America, Asia-Pacific, South America and Middle East & Africa.
Key Market Competitors:
Few of the major competitors currently working in the global electrophysiology devices market are Medtronic; Boston Scientific Corporation; Abbott; Biosense Webster, Inc; Biotronik; General Electric Company; Siemens Healthcare GmbH; MicroPort Scientific Corporation; Koninklijke Philips N.V.; NIHON KOHDEN CORPORATION; CardioFocus; Stereotaxis, Inc.; Molecular Devices, LLC among others.
Market Segmentation: Global Electrophysiology Devices Market
• By Application (Treatment Devices, Diagnostic Devices)
• By Indication (AF, Supraventricular Tachycardia, AVNRT, WPW, Bradycardia, Others)
• By End-Use (Hospitals, ASCs, Others)
• By Geography (North America, Europe, Asia-Pacific, South America, Middle East and Africa)
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• Increasing incidences of arrhythmia in the global population; this factor is expected to boost the growth of the market
• Growing levels of ageing population worldwide; this factor is expected to propel the market growth
• Innovations in technology and advanced levels of product offerings also acts as a market driver
• Lack in the availability of effective pharmaceutical treatments for the various applicable indications can also accelerate this market growth
• Concerns regarding stiff levels of competition resulting in competitive pricing pressure; this factor is expected to hinder the growth of the market
• Presence of strict regulatory compliances regarding the product approval and development; restricts the market growth
• Absence of reimbursement scenarios helping in the adoption of these devices also hampers the growth of this market
Reasons to Purchase this Report
• Current and future of global electrophysiology devices market outlook in the developed and emerging markets
• The segment that is expected to dominate the market as well as the segment which holds highest CAGR in the forecast period
• Regions/Countries that are expected to witness the fastest growth rates during the forecast period
• The latest developments, market shares, and strategies that are employed by the major market players
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