Electrophysiology market valued at $2.93 bn by 2020

LONDON – A new report from GlobalData finds that 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. The size of the market is set to climb from approximately $1.56 billion in 2013 to $2.93 billion by 2020, at a Compound Annual Growth Rate (CAGR) of 9.5%, said the research and consulting firm.

MediPoint: Electrophysiology Devices – Global Analysis and Market Forecasts 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. This 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.

Increasing incidences of arrhythmia is spurring the rapid EP industry growth, along with rising market penetration of diagnostic and ablation catheters in the Asia-Pacific and South American regions.

“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,” said Rob Littlefield, MSc, GlobalData’s senior analyst covering Medical Devices.

While the current EP market is extremely competitive and dominated by several key players, innovation is key 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,” Mr Littlefield said.