LONDON--(BUSINESS WIRE)--Technavio’s latest report on the global electrophysiology diagnostic catheters market provides an analysis of the most important trends expected to impact the market outlook from 2017-2021. Technavio defines an emerging trend as a factor that has the potential to significantly impact the market and contribute to its growth or decline.
The research study by Technavio on the global electrophysiology (EP) diagnostic catheters market for 2017-2021 provides a detailed industry analysis based on the product (conventional and advanced EP diagnostic catheters), end-users (hospitals and ambulatory surgical centers), and geography (the Americas, EMEA, and APAC).
|EP catheters are used to perform standard Electrophysiology studies by applying pacing and recording protocols through intracardiac or through the esophagus to determine the electrical properties of the atrium and the ventricle. Technavio analysts forecast the global electrophysiology diagnostic catheters market to grow to USD 1,274.09 million by 2021, at a CAGR of more than 9% over the forecast period.|
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The top three emerging trends driving the global electrophysiology diagnostic catheters market according to Technavio healthcare and life sciences research analysts are:
- Growing demand for steerable curve EP diagnostic catheters
- Rising demand for EP mapping catheters
- Vendors’ preference towards product bundling
Growing demand for steerable curve EP diagnostic catheters
“The growing need for steerable technology such as rotational movement has led vendors to introduce several steerable curve electrophysiology diagnostic catheters. These catheters cater to the need of electrophysiologists during diagnosis, delivery, and biopsy in challenging cases,” says Barath Palada, a lead analyst at Technavio for patient monitoring devices research.
Steerable curve diagnostic catheters offer high torque transmission, which gives the electrophysiologist the ease of accessibility to turn the tip of the catheter with rotational movement of the proximal hand through predefined distal curve shape. Further, the cannulation capabilities of these devices offer precise control, even at the topmost distal point.
Rising demand for EP mapping catheters
There has been a significant rise in demand for EP diagnostic catheters due to their growing use for mapping and localization capabilities. Vendors are coming up with new technologies to improve their profit margins with a surge in sales. They are strategically focusing on introducing cost-effective product lines depending on end-users' requirement.
For instance, St. Jude Medical developed NavX mechanism that enables the non-mapping EP catheters to construct 3D models of a heart chamber, thereby granting mapping capabilities. So, the application enhancement of the EP diagnostic catheters with mapping capabilities will fuel the demand for EP diagnostic catheters during the forecast period.
Vendors’ preference towards product bundling
“Prominent market vendors are adopting the product bundling strategy which includes a combination of two or more products or services. This product bundling offers product differentiation with better product offerings. Also, patients prefer such packaged products to single products as they are cost-effective,” says Barath.
Vendors are offering the EP diagnostic catheters bundled with the cryoablation catheters for the cryoablation procedure for the inline diagnosis. Vendors have also started introducing advanced EP solutions under the one product categories in their product portfolio. This marketing strategy has helped several vendors gain a competitive advantage over other vendors.
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Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, resellers, and end-users.
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