north-america-electrophysiology-market-industry
Published

MAY 2018

North America Electrophysiology Market - Segmented by Product and Geography - Growth, Trends, and Forecast (2018 - 2023)

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The North America electrophysiology market is expected to register a good CAGR during the forecast period, 2018 to 2023. The electrophysiology is a biomedical field, which deals with the study of electric activity in the human body.

Growing Incidence of Arrhythmia and Heart Failure

In North America, 1-2% of the total healthcare expenditure is attributed to heart failure. In 2016, around 5.5 million people were diagnosed with heart failure in the United States. It is expected that this number would increase to 8 million by 2030. Since, electrophysiology devices have their major applications in detecting heart failure rates, the increasing number of heart failures is expected to drive the market over the forecast period. The other factors, such as high adoption rates in emerging markets due to technological advancements, rapid growth in aging population, increasing demand for catheter ablation procedures are also driving the market.

Lack of Skilled and Experienced Electro physiologists

As of 2017, in the United States, approximately 6-8% of cardiologists hold a specialization in electrophysiology. Although not a favorable percentage, the EP workforce is more or less stable in the United States. However, due to lack of mobility among the majority of established electro physiologist, there exists a distinct lag in geographical dispersion of the EPs, resulting in a rift between the demand and supply, and a visible disparity among electro physiologists. The lack of skilled electro physiologists is acting as a major restraint for the North America electrophysiology market.

Additionally, unfavorable healthcare reforms, is also responsible for hindering the growth of the market.

US Lead the Market in North America Region

The US electrophysiology market holds the largest market share in 2017 in North America region due to the presence of well-established healthcare facilities and rise in the number of arrhythmia and heart failure cases in the region.

                                     

Key Developments in the Market:

  • January 2018 - BioSig Technologies, a medical device company, which is developing a biomedical signal processing platform designed to address the demand for electrophysiology market, has partnered with Mr. Charles Austin and JK advisors to scale up operational activities.
  • January 2018 – Rhythmlink announced patent license agreement with Dignity Health for improving and expanding brain health monitoring options. The proprietary technology by Dignity Health allows quick and easy collection of EEG data, which can be further distributed to healthcare personnel for analysis and intervention.

The major players include - Abbott Laboratories, Boston Scientific, Biotronik SE & Co. KG, GE Healthcare, Hansen Medical, Johnson & Johnson, Medtronic Inc., Siemens Healthcare, and Nihon Kohden Corporation, among others.

Reasons to Purchase this Report

  • Current and future North America electrophysiology market outlook in the developed and emerging markets
  • Analyzing various perspectives of the market with the help of Porter’s five forces analysis
  • The segment that is expected to dominate the market
  • Regions that are expected to witness fastest growth during the forecast period
  • Identifying the latest developments, market shares, and strategies employed by the major market players
  • 3-month analyst support along with the Market Estimate sheet (in excel)

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