What's Driving the Electrophysiology Market Trends? Abbott, Medtronic, Boston Scientific Corporation, Koninklijke Philips N.V., General Electric Company, Siemens Healthineers International AG

According to MarkNtel Advisors study the Global Electrophysiology Market is projected to grow at a CAGR of around 10.5% during the forecast period, i.e., 2023-28.

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Key Findings of the Study: Electrophysiology market

Global Electrophysiology Market Key Driver:

The Transcending Burden of Cardiovascular Diseases Worldwide - An alarming rise in the number of cardiac arrhythmias has compelled innovations in the manufacturing of electrophysiology devices. According to WHO, around 17.9 million people succumb to Cardiovascular diseases (CVDs) every year, accounting for 32% of total deaths worldwide. Out of 5, four CVD deaths are due to strokes and heart attacks, with one-third of these deaths occurring in people under 70. Likewise, as per Canadian government health statistics, one out of twelve Canadians lives with heart disease. Backed by behavioral risk factors such as unhealthy diet, physical inactivity, and excess alcohol and tobacco consumption, the patient pool is expected to surge in the coming years, presenting the need for more effective electrophysiology devices. As a result, the market is expected to enthrall in the coming years.

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Scope of the Report and Electrophysiology Market Segmentation:

By Product

• Electrophysiology Laboratory Devices
  • 3D Mapping Systems
  • Electrophysiology Recording System
  • Radio Frequency (RF) Ablation Systems
  • Intracardiac Echocardiography (ICE) Ultrasound Imaging Systems
  • Electrophysiology X-Ray Systems
  • Electrophysiology Remote Magnetic and Robotic Navigation Systems
• Electrophysiology Ablation Catheters
  • Cryoablation Electrophysiology Catheters
  • Radiofrequency (RF) Ablation Catheters
  • Microwave Ablation (MWA) Systems
  • Laser Ablation Systems
• Electrophysiology Diagnostic Catheters
  • Conventional Electrophysiology Diagnostic Catheters
  • Advanced Electrophysiology Diagnostic Catheters
  • Ultrasound Electrophysiology Diagnostic Catheters
• Access Devices
• Other Products

By Indication Type

• Atrial Fibrillation
• Atrial Flutter        
• Atrioventricular Nodal Reentry Tachycardia (AVNRT)
• Wolff-Parkinson-White Syndrome (WPW)
• Other Indications

By End User

• Hospitals & Cardiac Centers
• Ambulatory Surgery Centers

Here, Electrophysiology Ablation Catheters are anticipated to dominate the market, during the forecast period, among others.

Electrophysiology Market Development:

In May 2022, CathVision declared that ECGenius EP Recording System, a new high-fidelity and low-noise solution, has been given FDA approval. The device successfully diagnosed and treated complex atrial arrhythmias during tests.

In March 2022, The National Institute of Cardiology in Warsaw, Poland, used Stereotaxis to launch a robotic electrophysiology course. The program's goal is to teach doctors how to treat arrhythmias using the Genesis Robotic Magnetic Navigation System.

In January 2022, a deal was made for Medtronic PLC to buy the majority of Affera, Inc. The company produces equipment that aids in the treatment of cardiac arrhythmia. The acquisition, which aims to increase Medtronic's market share in the electrophysiology sector, shall be finalized by the first quarter of 2023.

Geographical Analysis:

By Region

• North America
• South America
• Europe
• The Middle East & Africa
• Asia-Pacific

Here, North America acquired the largest market share in recent years and is anticipated to prevail in the same dominance during the forecast period.

Note: If you require specific information not covered in the current report, we can provide it through customized option

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