The developments in the healthcare industry has given the medical professionals the power to provide better treatment alternatives for advanced patient diagnosis and post-operative care. Electrophysiology can be defined as a branch of cardiology that deals with the diagnoses and treatment of improper heart rhythm. Electrophysiology Catheter is the equipment used by cardiothoracic surgeons for temporary cardiac sensing, stimulation and mapping during extensive procedures including cardiac ablation, ICD or pacemaker installation procedures.
Availability of different sizes and shapes according to the requirements allows wide usage in high-end hospitals and dedicated cardiac health centres. The global electrophysiology (EP) catheter market reported a large market size in 2022, which is expected to expand significantly in 2032 at a rapid revenue growth rate during the forecast period. Industry analysis indicates that demand for efficient medical equipment has been rising substantially, and its adoption across healthcare industries has been increasing in parallel due to changing market trends and consumption patterns, and these factors are expected to continue to support industry growth as well as market growth over the forecast period.
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The increase in coronavirus infected patients have widely affected the normal functioning of hospitals and the manufacturing industry, in turn reflecting on the electrophysiology catheter market. Many hospitals for elective surgeries have been converted into emergency centres for patients infected by COVID-19. There has been a decline in the availability of medical supplies and supply chains are badly disrupted. Many private firms have sufficed on past savings and have registered weak financial strength. The gradual lifting of quarantine regulations and immense need for intensive care units in the market are forecasted to have new opportunities for growth.
Major Factors Driving Growth Of The Global Electrophysiology (EP) Catheter Market:
The escalating risk of cardiothoracic disorders, rise in awareness among people regarding modern treatment procedures and rapid urbanization with changing lifestyles and eating habits have driven the market growth. Arrhythmia, the most common heat abnormality, causes irregular heartbeat pattern and timing with atrial fibrillation involving errant electrical impulses that increase the heart rate. It becomes really important to diagnose these conditions in time and treat them with the help of surgeries involving EP ablation catheters that create lesions to prevent electric propagation from causing arrhythmias. Rise in the number of elective ablation procedures performed every day has exponentially increased the demand for minimally invasive treatments. Favourable technical developments have enabled surgeries in aged population with reduced risk of heart stroke by introducing robotic EP catheters. Government initiatives in developing countries to promote public and private sector funding, instigate new mergers, and initiate the setup of huge budgets for development of healthcare infrastructure have further enhanced the future of the market.
3-D anatomical mapping catheters are gaining popularity among hospitals to treat complex chronic diseases such as atrial flutter, atrioventricular nodal re-entry tachycardia and Wolff-Parkinson-White Syndrome. Furthermore, high success rate of catheter ablation combined with cost efficiency and increasing sales of steerable curve catheters further promotes market expansion.
Factors Restraining Growth Of The Global Electrophysiology (EP) Catheter Market:
However, lack of experienced professionals and unpredictable pricing among major market players might hamper the market growth.
North America Accounts For Largest Revenue Share In Global Electrophysiology (EP) Catheter Market:
North America accounted for the largest share in the diagnostic ECG market and will experience steady growth in the forecasted period due to the increasing prevalence of cardiovascular diseases, cardiac arrest cases, presence of streamlined healthcare infrastructure, high disposable income and increasing demand for modern medical supplies.
Asia Pacific Continues To Lead In Terms Of Revenue CAGR:
Asia Pacific is anticipated to register the highest average growth rate owing to growing geriatric population, rise in number of patients recorded with chronic cardiac arrhythmia due to unhealthy lifestyles involving smoking and excessive consumption of alcohol, and incrementing government expenditure for healthcare infrastructural development in India, China and Japan.
Major Companies Profiled In The Report:
- Bio sense Webster APT Medical
- CathRx Ltd
- Boston Scientific
- Lepu Medical
- Japan Lifeline
- APT Medical
- Biotronik SE & Co. KG.
- Micro Port Scientific Corporation
- Synaptic Medical
- Siemens Healthcare
- St. Jude Medical/Abbott Laboratories
What Our Report Provides And Why Our Offering Is Better:
This report offers historical data points and forecasts and revenue growth at a global, regional, and country level, and provides analysis, industry trends, and consumption pattern details for each region, major country, and segment from 2023 to 2032. The global market report includes industry trends, drivers, restraints, opportunities, threats, market strategies, segment revenue, and market share contribution by each regional and country market. In addition, the report offers industry analysis and competitive landscape, company financials, and impact analysis. The report includes a detailed view of the global market, along with changing dynamics and trends, scenarios, detailed market and regional segmentation, regional landscape, analysis and evaluation, major investments, product offerings, product launches, and details of historical, current, and projected revenues.
Detailed Segmentation In Our Report:
For the purpose of this report, Electrophysiology (EP) Catheter Market is segmented on the basis of Product Type, End-Use And Region.
By Product Type (Revenue, USD Billion; 2023-2032)
- Electrophysiology Ablation Catheters
- Electrophysiology Diagnostic Catheters
- Fixed Curve Catheters
- Steerable Curve Catheters
By End-Use (Revenue, USD Billion; 2023-2032)
- Ambulatory Surgical Centres
Region Outlook (Revenue, USD Billion; 2023-2032)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
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