BURLINGTON, Mass., Dec. 17, 2014 /PRNewswire/ -- Decision Resources Group finds that the Latin American electrophysiology (EP) mapping and ablation device market will grow moderately through 2023 to reach nearly $90 million. Growth will be driven by an expanding patient pool and health care reform in the region, which will lead to more patients with health care coverage as well as the construction of new EP labs.
Other key findings from Decision Resources Group's coverage of the Latin American EP mapping and ablation device market:
- Country differences: In 2014, Brazil had the highest number of EP labs and subsequently, the largest EP mapping and ablation device market. However, the Mexican market will expand at a faster pace going forward due to strong government efforts that will streamline the health care system in the country.
- Increasing treatment of AF: Similar to more developed markets like the U.S. and Europe, there will be growing adoption of EP ablation for the treatment of atrial fibrillation (AF), which will experience the fastest growth of the indications through 2023. Because of the high cost of the products used to treat AF, this will support market expansion.
- Market limiters: The Latin American markets will continue to face strong health care budget constraints, leading to sustained demand for less expensive devices and significant device reuse. These will continue to be the major limiters of the EP market through 2023.
Comments from Decision Resources Group Analyst Beata Blachuta:
- "The Latin American EP mapping and ablation device market is dominated by multinational competitors such as Biosense Webster, GE Healthcare and St. Jude Medical. However, a local competitor in Brazil, Tecnologia Eletronica Brasileira, has earned a strong share in the EP recording system market in the region, and particularly in Brazil, where it captured over 90 percent of revenues."
- "Contact force-sensing technology and cryoablation catheters are both expected to reach the Latin American market within the next few years. Positive results from the use of these devices in other geographies, such as the U.S. and Europe, will prompt strong uptake of these products once they reach Latin America. This will spur unit sales and further boost the use of EP ablation in the treatment of AF."
- Beata Blachuta has written a Medtech 360 report on this subject entitled Latin American Markets for Electrophysiology Mapping and Ablation Devices 2015.
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