Report : South and Central America Electrophysiology Catheter Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Product Type (Electrophysiology Diagnostic Catheters and Electrophysiology Ablation Catheters), Application (Diagnosis and Monitoring, Imaging and Mapping, and Treatment of Cardiac Arrhythmias), and End User (Hospitals, Ambulatory Surgical Centers, and Cardiac Catheterization Labs)
Diagnosis and Monitoring Segment to Dominate South and Central America Electrophysiology Catheter Market during 2019–2028
According to a new market research study on “South and Central America Electrophysiology Catheter Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast by Product Type, Application, and End User,” is expected to reach US$ 500.21 million by 2028 from US$ 294.82 million in 2021. The market is estimated to grow at a CAGR of 7.8% from 2021 to 2028. Rise in prevalence of cardiovascular disorders is the major factor driving the growth of the South and Central America electrophysiology catheter market. However, high cost of electrophysiology catheters may hinder the growth of South and Central America electrophysiology catheter market. The report provides trends prevailing in the South and Central America electrophysiology catheter market along with the drivers and restraints pertaining to the market growth.
The outbreak of COVID-19 has stringently affected medical services and medical tourism in South and Central America. Brazil, Argentina, Uruguay, Chile, Peru, and Colombia are affected by the second wave of COVID-19. According to Worldometer data, as of July 2021, Brazil and Argentina have reported 19,749,073 and 4,875,927 cases, respectively. The emergence of subsequent waves and new variants is compelling countries to keep on imposing subsequent social distancing measures in the respective countries, which continues to affect the economies and sectors contributing to their growth. Many healthcare market players and end users lost their businesses due to the temporary shutdown of enterprises in various regions. Pediatric imaging and other associated treatments were also discontinued during the lockdown. In June, the WHO declared that the outbreak's focus had shifted to Latin American countries with inadequate control of noncommunicable disease indicators (NCDs). Patients with NCDs such as cardiovascular disease, diabetes, and cancer had fewer visits and hospitalizations due to concerns about COVID-19.
The South and Central America electrophysiology catheter market is segmented into product type, application, end user, and country. The South and Central America electrophysiology catheter market, based on product type, has been classified electrophysiology diagnostic catheters and electrophysiology ablation catheters. In 2021, the electrophysiology diagnostic catheters segment held the largest share South and Central America electrophysiology catheter market. The electrophysiology diagnostic catheters are sub-segmented as conventional electrophysiology diagnostic catheters, advanced electrophysiology diagnostic catheters, and ultrasound electrophysiology diagnostic catheters. In 2021, the conventional electrophysiology diagnostic catheters segment held the largest share South and Central America electrophysiology catheter market. Further, electrophysiology ablation catheters are sub-segmented as cryoablation electrophysiology catheter, radiofrequency ablation catheters, microwave ablation systems, and laser ablation systems. In 2021, the cryoablation electrophysiology catheter segment held the largest share South and Central America electrophysiology catheter market. The South and Central America electrophysiology catheter market, based on application is segmented into diagnosis and monitoring, imaging and mapping, and treatment of cardiac arrhythmias. In 2021, the diagnosis and monitoring segment held the largest share South and Central America electrophysiology catheter market. The South and Central America electrophysiology catheter market, based on end user is segmented into hospitals, ambulatory surgical centers, and cardiac catheterization labs. In 2021, the hospitals segment held the largest share South and Central America electrophysiology catheter market. Based on country the South and Central America electrophysiology catheter market is segmented into the Brazil, Argentina, and rest of South and Central America. In 2021, Brazil held the largest share South and Central America electrophysiology catheter market.
Abbott; APT Medical Inc.; Biosense Webster (Johnson and Johnson Services, Inc.); Biotronik, Inc.; Boston Scientific Corporation; Medtroni; MicroPort Scientific Corporation; Stryker Corporation; and Transonic Systems Inc. are among the leading companies in the South and Central America Electrophysiology Catheter Market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, in 2020, Johnson & Johnson Medical Devices Companies and Biosense Webster's ablation catheter was approved by the FDA in order to treat patients with persistent atrial fibrillation. The catheter approval was based on findings from the PRECEPT study. The study found that ablation with a porous tip contact force-sensing catheter was safe and effective in patients with persistent AF
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