GlobalData05.01.19
The global electrophysiology catheters market is expected to reach $3.9 billion by 2028, growing at a compound annual growth rate (CAGR) of 4.1 percent, according to GlobalData, a data and analytics company.
The company’s reports, ‘Electrophysiology Ablation Catheters – Cardiovascular Market Analysis and Forecast Model’ and ‘Electrophysiology Diagnostic Catheters – Cardiovascular Market Analysis and Forecast Model’ reveal that within electrophysiology diagnostic catheters, steerable catheters maintain the largest share in the market. However, while irrigated tip catheters have the largest share in the electrophysiology ablation catheters market, cryoablation catheters are the fastest growing segment, estimated to grow at a CAGR of 4.4 percent by 2028.
Sheryl Tang, Medical Devices Analyst at GlobalData, said, “The increasing incidence of atrial fibrillation due to lifestyle factors and cardiovascular diseases is driving the growth of the electrophysiology catheters market. Electrophysiology ablation also demonstrates better outcomes compared to lifelong pharmaceutical treatment, driving procedure numbers and companies to invest in the market.”
Barriers to market growth, particularly in developing countries, include the high cost of building labs specifically for electrophysiology procedures, as well as training specialists to perform the procedure.
Tang concluded, “While patients have the option of pharmaceutical treatment for atrial fibrillation, electrophysiology ablation would eliminate the need for lifelong medication. Cryoablation shows the strongest potential for growth; it is a device that requires less precision than a radiofrequency ablation catheter while demonstrating similar patient outcomes. With only one company monopolizing that market along with the growing patient pool, it is only a matter of time before other major manufacturers enter the cryoablation market.”
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 across a range of industries, including the healthcare, consumer, retail, financial, technology, and professional services sectors.
The company’s reports, ‘Electrophysiology Ablation Catheters – Cardiovascular Market Analysis and Forecast Model’ and ‘Electrophysiology Diagnostic Catheters – Cardiovascular Market Analysis and Forecast Model’ reveal that within electrophysiology diagnostic catheters, steerable catheters maintain the largest share in the market. However, while irrigated tip catheters have the largest share in the electrophysiology ablation catheters market, cryoablation catheters are the fastest growing segment, estimated to grow at a CAGR of 4.4 percent by 2028.
Sheryl Tang, Medical Devices Analyst at GlobalData, said, “The increasing incidence of atrial fibrillation due to lifestyle factors and cardiovascular diseases is driving the growth of the electrophysiology catheters market. Electrophysiology ablation also demonstrates better outcomes compared to lifelong pharmaceutical treatment, driving procedure numbers and companies to invest in the market.”
Barriers to market growth, particularly in developing countries, include the high cost of building labs specifically for electrophysiology procedures, as well as training specialists to perform the procedure.
Tang concluded, “While patients have the option of pharmaceutical treatment for atrial fibrillation, electrophysiology ablation would eliminate the need for lifelong medication. Cryoablation shows the strongest potential for growth; it is a device that requires less precision than a radiofrequency ablation catheter while demonstrating similar patient outcomes. With only one company monopolizing that market along with the growing patient pool, it is only a matter of time before other major manufacturers enter the cryoablation market.”
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 across a range of industries, including the healthcare, consumer, retail, financial, technology, and professional services sectors.
