The global Electrophysiology devices market was valued at USD 6,738.2 Million in 2022 and is expected to reach USD 13.21 Billion by the year 2032, at a CAGR of 8.70% Electrophysiology studies are tests that help doctors to understand the nature of abnormal heart rhythms, i.e., arrhythmias. The Electrophysiology test is performed by inserting catheters and wire electrodes that measure electrical activity through blood vessels that enter the heart. The development of new technologies such as Cryoablation, laser ablation, and ultrasound ablation and advanced mapping technologies are anticipated to propel the demand for electrophysiology devices.
Factors such as technological advancements in Electrophysiology devices, rapid growth in the aging population with a high risk of target diseases, growing incidence of arrhythmia cases across the world, increasing focus of key market players to expand their geographic presence, and growing demand for catheter ablation procedures are augmenting the growth of the electrophysiology devices market. However, the lack of skilled and experienced electrophysiologists in developing nations and unfavorable healthcare reforms in some regions are hampering the growth of the electrophysiology devices market.
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Key Coverage of the Report
- Region and country-wise assessment from the period 2023-2032. For the study, 2021-2022 has been utilized as historical data, 2023 as the base year, and 2023-2032 has been derived as forecasts for the Electrophysiology devices market
- Company profiling with detailed strategies, financials, and recent developments.
- Global Electrophysiology devices market with respect to the type of product, indication type, and region
- Strategical analysis of micro markets and macro markets with respect to individual growth trends, prospects, and contributions to the overall market.
- Demand and Supply GAP Analysis.
- Electrophysiology devices market forecasts for a minimum of 6 years of all the mentioned segments, and the regional markets
- Analysis of the presence of electrophysiology devices market in the country along with region-wise analysis and their market penetration across the regions; their structure, i.e., chain, independent, pharmacies, and hospitals; and the availability of Electrophysiology devices products.
- Detailed analysis of information regarding the major factors influencing the growth of the market (drivers, restraints, opportunities, and challenges).
- The regulatory framework of different nations is analyzed in detail.
- Key strategic initiatives of the Electrophysiology devices industry like mergers, acquisitions, product developments, product launches, product agreements, regulatory approvals, collaborations, partnerships, market extensions, service launches and market penetration of the Electrophysiology devices market players and their detailed analysis.
- Analysis of competitive intelligence through strategic developments and market opportunities for stakeholders with complete details of the market leaders.
- A comprehensive mapping of the competitive landscape and market participants’ behavior.
- Regional Competitors pipeline analysis of the Electrophysiology devices market
- Complete Electrophysiology devices market forecast & estimation of the global Electrophysiology devices market with respect to five central regions—North America, Asia Pacific (APAC), Europe, Latin America, and the Middle East and Africa (MEA)
Salient Trends of the Electrophysiology devices Market
- RF ablation catheters are the highest revenue-generating segment in the Electrophysiology ablation catheters market owing to the advancements in RF ablation devices that positively impact the growth of the Electrophysiology devices market. For example, irrigated-tip RF ablation catheters, which lowers the likelihood of char or thrombus formation and aids the creation of larger lesions. These technologically advanced RF ablation devices offer treatment that is more effective with potentially lower risks and lead to high market growth.
- The growth of the market is augmented by the increase in demand for advanced electrophysiology devices, improved healthcare reforms, high prevalence of cardiac arrhythmias, and increased focus of key players for developing technologically advanced cost-effective electrophysiology devices.
- By indication, atrial fibrillation (AF) holds a significant share in the market. It is the most commonly occurring sustained cardiac arrhythmia with a prevalence of 1–2% in the general population. The incidence of Atrial fibrillation increases with age and, in the elderly population, cardiovascular (CV) risk factors and co-morbidities such as hypertension, diabetes, congestive heart failure, coronary artery disease, valvular heart disease (VHD), and stroke are common. As CV risk factors are significant predictors of AF, the rapidly aging population of the world would substantially increase the prevalence of AF in the coming years. By 2050, the number of people with AF is projected to be 15 million in the United States.
- The Asia Pacific region is expected to grow with a CAGR of xx %. The rapid growth of the geriatric population, increasing focus of multinational companies in emerging markets, improving and modernizing healthcare infrastructure, and high demand for Electrophysiology devices market in this region.
- The market witnesses several mergers and acquisitions by key market players. For instance, in April 2023, Abbott signed an agreement to purchase Topera, Inc.; a private, venture-backed medical device company focused on developing innovative electrophysiology technologies to improve the diagnosis and treatment of atrial fibrillation, one of the most prevalent heart rhythm disorders in the world. In October 2014 Topera Inc. developed a novel diagnostic catheter and mapping software, which helps physicians distinguish and target the specific areas of a person’s heart that are perpetuating atrial fibrillation.
Companies considered and profiled in this market study
Abbott Laboratories (U.S.), Biosense Webster, Inc. (U.S.), BIOTRONIK SE & Co. KG (Germany), Boston Scientific Corporation (U.S.), GE Healthcare (U.K.), Koninklijke Philips N.V. (The Netherlands), Medtronic Inc. (U.S.), Microport Scientific Corporation (China), St. Jude Medical, Inc. (U.S.), and Siemens AG (Germany) are some of the major players in the Electrophysiology devices market
- The European Electrophysiology devices market is expected to witness the growth at a CAGR of 11.2%; Expansion of the European EP mapping and ablation device market will be driven by increasing procedure volumes, particularly in the AF indication.
- The Electrophysiology Ablation Catheters segment is expected to reach USD 13.21 Billion by the year 2032, showing significant growth during the forecast period.
- In 2023, the Atrial flutter indication segment was valued at USD 879.6 million and is expected to grow at a high rate of 10.9%.
- The Electrophysiology laboratory devices segment by product type is the fastest-growing segment with a CAGR of 11.8 % during the forecast period.
- The Atrioventricular Nodal Reentry Tachycardia (AVNRT) segment is expected to register a CAGR of 11.9% during 2019-2032.
- North America regional segment of the Electrophysiology devices market is expected to hold the largest share. The dominance of this region is high owing to key factors such as technological advancements and product innovations, rapid growth in aging population and developed healthcare infrastructure.
Segments covered in the report
This report forecasts revenue growth at a global, regional & country level, and provides an analysis of the market trends in each of the sub-segments from 2023 to 2032. For the purpose of this study, Reports and Data have segmented the Electrophysiology devices market on the basis of product, indication application and region:
Product (Revenue in Million USD; 2023–2032)
- EP Ablation Catheters
- Cryoablation EP Catheters
- Radiofrequency Ablation Catheters
- Irrigated-tip Radiofrequency Ablation Catheters
- Conventional Radiofrequency Ablation Catheters
- Microwave Ablation Systems
- Laser Ablation Systems
- Navigational Advanced Mapping Accessories
- EP Laboratory Devices
- EP X-Ray Systems
- 3D Mapping Systems
- EP Recording Systems
- EP Remote Steering Systems
- EP Diagnostic Catheters
- Conventional EP Diagnostic Catheters
- Steerable Diagnostic Catheters
- Fixed Diagnostic Catheters
- Advanced EP Diagnostic Catheters
- Ultrasound EP Diagnostic Catheters
- Conventional EP Diagnostic Catheters
- Access Devices
Indication (Revenue in Million USD; 2023–2032)
- Atrial Fibrillation (AF)
- Atrial Flutter
- Wolff-Parkinson-White Syndrome (WPW)
- Atrioventricular Nodal Reentry Tachycardia (AVNRT)
- Right Atrial Tachycardia
- Right Atrial Flutter
- Left Atrial Flutter
- Right Ventricular Tachycardia
- Left Ventricular Tachycardia
Regional Outlook (Revenue in Million USD; 2023–2032)
- North America
- Rest of the Europe
- Asia Pacific
- South Korea
- Rest of Asia-Pacific
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of MEA
- Latin America
- Rest of Latin America
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