GlobalData01.25.19
Electrophysiology has recently become of great interest in the medical devices field. While currently relatively small at $4.6 billion in 2018, it is expected to consistently grow at an extremely high compound annual growth rate (CAGR) rate of 4.6 percent, leading to a market size of $5.8 billion by 2023, according to GlobalData, a leading data and analytics company.
Interest in electrophysiology has grown in the medical devices field as advancements in technology such as live 3D mapping and location have allowed doctors to more easily and effectively identify and ablate troublesome material. This has shortened procedure times meaning that patients have shorter recovery times as well. This has resulted in a huge spike in growth of electrophysiology treatments at the expense of pharmacological treatments. In particular, the growth of the Middle East/Africa and Latin America regions are larger at 5.6 percent to 5.7 percent year over year, due to their relatively undeveloped healthcare systems only now beginning to adopt electrophysiological technology.
James Spencer, a medical devices analyst at GlobalData, commented, “Electrophysiology is uniquely positioned amongst cardiovascular devices to enjoy both explosive and sustained growth across the international markets due to a combination of as yet unsaturated markets, the cannibalization of revenue from less effective pharmacological treatments, as well as a constantly growing patient population due to the overall aging of the world’s population.”
Traditionally, electrophysiology catheters have used radiofrequency (RF) ablation techniques to ablate troublesome tissue. However, more recently cryoablative and laser ablation technologies have been developed that are easier, or more effective for physicians to use. As such, the electrophysiology market is now in a favourable position for years to come.
Four thousand of the world’s largest companies, including over 70 percent of FTSE 100 and 60 percent of Fortune 100 companies make more timely and better business decisions thanks to GlobalData’s data, expert analysis, and solutions, all in one platform. GlobalData’s mission is to help clients decode the future to be more successful and innovative across a range of industries, including the healthcare, consumer, retail, technology, energy, financial, and professional services sectors.
Interest in electrophysiology has grown in the medical devices field as advancements in technology such as live 3D mapping and location have allowed doctors to more easily and effectively identify and ablate troublesome material. This has shortened procedure times meaning that patients have shorter recovery times as well. This has resulted in a huge spike in growth of electrophysiology treatments at the expense of pharmacological treatments. In particular, the growth of the Middle East/Africa and Latin America regions are larger at 5.6 percent to 5.7 percent year over year, due to their relatively undeveloped healthcare systems only now beginning to adopt electrophysiological technology.
James Spencer, a medical devices analyst at GlobalData, commented, “Electrophysiology is uniquely positioned amongst cardiovascular devices to enjoy both explosive and sustained growth across the international markets due to a combination of as yet unsaturated markets, the cannibalization of revenue from less effective pharmacological treatments, as well as a constantly growing patient population due to the overall aging of the world’s population.”
Traditionally, electrophysiology catheters have used radiofrequency (RF) ablation techniques to ablate troublesome tissue. However, more recently cryoablative and laser ablation technologies have been developed that are easier, or more effective for physicians to use. As such, the electrophysiology market is now in a favourable position for years to come.
Four thousand of the world’s largest companies, including over 70 percent of FTSE 100 and 60 percent of Fortune 100 companies make more timely and better business decisions thanks to GlobalData’s data, expert analysis, and solutions, all in one platform. GlobalData’s mission is to help clients decode the future to be more successful and innovative across a range of industries, including the healthcare, consumer, retail, technology, energy, financial, and professional services sectors.
