According to the latest market study released by Technavio, the global electrophysiology therapeutic devices marketis expected to grow at a CAGR of more than 9% during the forecast period.
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Technavio has published a new report on the global electrophysiology therapeutic devices market from 2017-2021. (Graphic: Business Wire)
This research report titled 'Global Electrophysiology Therapeutic Devices Market 2017-2021' provides an in-depth analysis of the market in terms of revenue and emerging market trends. This report also includes an up to date analysis and forecasts for various market segments and all geographical regions.
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The market research analysis categorizes the global electrophysiology therapeutic devices market into four major product segments. They are:
- ICDs
- Cardiac pacemakers
- CRT devices
- Ablation catheters
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Global ICD Market
Implantable cardioverter defibrillator (ICD) is a small implantable battery-powered device that consists of a cardioverter and a defibrillator. This device is used to monitor the heart rhythm. It is implanted in individuals who have heart failure, ventricular fibrillation, and ventricular tachycardia. ICDs are permanent safeguards against unexpected arrhythmias, while, pacemakers are placed temporarily to correct bradycardia. The key vendors of the global ICD market are Boston Scientific, Imricor, Medtronic, MicroPort Scientific, and St. Jude Medical.
According to Srinivas Sashidhar, a lead analyst at Technavio for orthopedics and medical devices research, "The global ICD market is expected to rise during the forecast period due to the growing incidence rate of CVD. The market is also witnessing an increase in the demand for ICDs in emerging regions like APAC and the Middle-East. Several healthcare awareness programs have been organized across the world for increasing the adoption rate of ICDs. Subcutaneous ICDs are one of the widely used ICDs, which are popular due to fewer complications during implantation."
Global Cardiac Pacemakers Market
Cardiac pacemakers are battery-operated devices used to supplement the normal activity of the heart. Pacemaker is administered to the patient with cardiac disorders such as arrhythmia, atrial fibrillation, and atrioventricular blockage. When abnormal electrical impulses are produced by the sinoatrial node, artificial cardiac pacemakers are used to prompt the heart to beat at a normal rate. These pacemakers also monitor and record the heart's electrical activity. They can be temporary, permanent, implantable, or external, depending upon the condition of the patient.
Several investments in R&D have been made to create technologically advanced pacemakers that are more compact and cause minimum discomfort. Such advancements have encouraged the use of cardiac pacemakers in cardiac rhythm management. The demand for implantable cardiac pacemakers is expected to witness rapid growth during the forecast period.
Global CRT Devices Market
CRT devices are used for the efficient resynchronization of heartbeat by sending small undetectable electrical impulses to both the lower chambers of the heart. This device is generally used to treat heart failure. CRT devices are one of the main revenue contributors to the global EP therapeutic market.
The key vendors of the global CRT devices market are Medtronic, Boston Scientific, St. Jude Medical, and GE Healthcare. Medtronic is one of the leading manufacturers of advanced CRT devices. Claria MRI CRT-D by Medtronic is one of the most MRI-friendly CRT devices used for the cardiac rhythm management.
"The adoption rate of CRT devices is likely to rise due to the complications associated with the other implantable devices such as ICDs and cardiac pacemakers. The procedure cost of CRT devices is comparatively low. The use of MRI-friendly devices helps in better management of cardiac diseases," says Srinivas.
Global Ablation Catheters Market
Catheter ablation is a minimally invasive (MI) procedure used to remove or destroy faulty electrical pathways from sections of the heart that cause cardiac arrhythmia. Cardiac arrhythmia can be of different types such as atrial fibrillation, atrial flutter, and supraventricular tachycardia. Atrial fibrillation is the most common type of cardiac arrhythmia. EP ablation catheters are used to treat cardiac arrhythmia. These catheters destroy the abnormal tissue with the help of heat generated from radio-frequency (RF), laser, microwave radiation, or by freezing the abnormal tissue.
The rise in atrial fibrillation is expected to propel the market growth during the forecast period. The leading players in the market include Medtronic, Boston Scientific, and St. Jude Medical. The launch of new products and expected new regulatory approvals is likely to boost the global electrophysiology therapeutic devices market.
The top vendors highlighted by Technavio's market research analysts in this report are:
- Boston Scientific
- Medtronic
- St. Jude Medical
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About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
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