Electrophysiology Diagnostic Catheters Market Introduction

Electrophysiology is the study of electrical properties of biological cells. Electrophysiology diagnostic catheters are widely used in electrophysiology and catheterization procedures. These catheters are primarily used for intra-cardiac recording, sensing, mapping, and stimulation. The process of cardiovascular catheterization involves insertion of catheter in an artery or vein in a patient’s groin, neck or arm and make their way through blood vessels to the heart.

Electrophysiology Diagnostic Catheters Market - Competitive Landscape

Key players operating in the global electrophysiology diagnostic catheters market include Boston Scientific Corporation, Abbott, Johnson & Johnson, Medtronic, Koninklijke Philips N.V., B. Braun Melsungen AG, C. R. Bard, Inc., Cardinal Health, Terumo Medical Corporation, and Edwards Lifesciences Corporation. Increase in mergers & acquisitions, strategic collaborations, and new product launches are expected to drive the global market during the forecast period. Additionally, strong product portfolio, high brand recognition, and strong geographic presence are expected to boost the electrophysiology diagnostic catheters market during the forecast period.

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Abbott Laboratories is a medical device company that provides a wide range of diagnostic and medical test instruments in order to diagnose and monitor infectious diseases, cancer, heart diseases, and metabolic disorders, and assess other health indicators. In January 2017, Abbott Laboratories acquired St. Jude Medical, Inc. This enhanced Abbott’s portfolio of cardiovascular catheter devices with Dragonfly OPTIS imaging catheters and TactiCath Quartz Contact Force Sensing and FlexAbility irrigated ablation catheters.

Johnson & Johnson

Johnson & Johnson engages in the R&D, manufacture, and sale of diverse health care products. It operates through three business segments: pharmaceutical, medical devices, and consumer. The pharmaceutical segment focuses on five therapeutic areas: cardiovascular & metabolic diseases, immunology, neurosciences, oncology, and infectious disease & vaccines. J&J invests extensively in R&D initiatives for new product development and to attain a technological edge over its competitors. Its R&D expenses in 2018 were estimated to be US$ 10.8 Bn.

Electrophysiology Diagnostic Catheters Market Dynamics

The electrophysiology diagnostic catheters market is expected to expand significantly in the near future due to the rise in prevalence of cardiac diseases, increase in health care expenditure, and technological advancements. Growth in adoption of ablation techniques, especially for the diagnosis of atrial fibrillation, is also anticipated to boost the electrophysiology diagnostic catheters market. On the other hand, strict regulatory approvals, high cost associated with devices, and availability of less number of skilled professionals are some of the challenges faced by the electrophysiology diagnostic catheters market.

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Increase in Incidence of Cardiovascular Diseases are Driving Demand for Electrophysiology Diagnostic Catheters

Increase in the incidence of cardiovascular diseases such as atrial fibrillation, and cardiac arrhythmia is expected to drive the market for cardiovascular diseases during the forecast period. Arrhythmia is a major indication for electrophysiology examination. Rise in incidence of different types of arrhythmias such as atrial fibrillation, atrial flutter, ventricular tachycardia, and atrial tachycardia is propelling the demand for electrophysiology diagnostic catheters. According to the World Health Organization (WHO), cardiovascular diseases (CVD) account for 9.4 million deaths globally each year. The number is likely to increase to 23.3 million by 2030. Hence, demand for electrophysiology diagnostic catheters is increasing. Rise in number of patients suffering from pulmonary artery related disorders is also projected to propel the demand for electrophysiology diagnostic catheters during the forecast period.

Increase in Elderly Population would propel the Electrophysiology Diagnostic Catheters Market during the Forecast Period

Elderly people and people with high blood pressure, diabetes, obesity, hyperthyroidism, and other cardiovascular diseases are at high risk of developing arrhythmia. This is anticipated to boost the market. According to the National Center for Biotechnology Information (NCBI), Center for Disease Control and Prevention (CDC), and ‘Sign Against Stroke in Atrial Fibrillation’ campaign, atrial fibrillation is one of the common arrhythmias that affects more than 2.6 million people in the U.S., around 6 million in Europe, and nearly 8 million in China in 2016. This toll is estimated to exceed 2.5 fold by 2050 owing to the rise in geriatric population across the globe and changing lifestyle related diseases. Thus, the electrophysiology diagnostic catheters market is projected to expand significantly in the near future.

Electrophysiology Diagnostic Catheters Market Segmentation

Based on the type, the electrophysiology diagnostic catheters market is segmented into

  • Conventional Electrophysiology Diagnostic Catheters
    • Steerable Diagnostic Catheters
    • Fixed Diagnostic Catheters
  • Advanced Electrophysiology Diagnostic Catheters
  • Ultrasound Electrophysiology Diagnostic Catheters

Based on the application, the electrophysiology diagnostic catheters market is segmented into

  • Atrial Fibrillation (AF)
  • Atrioventricular Nodal Reentry Tachycardia (AVNRT)
  • Wolff-Parkinson-White Syndrome (WPW)
  • Atrial Flutter
  • Others

Based on the end-user, the electrophysiology diagnostic catheters market is segmented into

  • Hospitals
  • Diagnostic Centers
  • Clinics
  • Others

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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Electrophysiology Diagnostic Catheters Market

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