Electrophysiology Market Is Booming Worldwide by 2027 | Abbott Laboratories, Biotronik, Boston Scientific, Medtronic, Johnson and Johnson, GE Healthcare, Japan Lifeline, Philips

Electrophysiology market will be prominently driven by the growing focus toward the management of cardiac arrhythmias and the rising acclaim for telemedicine in the wake of the COVID-19 pandemic, the demand for noninvasive and invasive electrophysiology procedures is expected to soar rapidly throughout the globe. The high prevalence of heart conditions, alongside the rising number of patients suffering from cardiac arrhythmias due to COVID-19 infection across the globe, has been a major driver of the industry.

Although electrophysiology is primarily leveraged by cardiologists, it has also found increasing applications across the assessment of the brain, eyes, muscles, and the auditory system. The following eight trends have been enabling consistent expansion of the global market:

Rising incidence of atrial fibrillation in North America

In terms of indication, the North America electrophysiology market forecast was dominated by the atrial fibrillation (AF) segment during 2020, commanding a share of over 40% of the total market revenue. Electrophysiology procedures are frequently conducted amongst patients with atrial fibrillation. Although the demand for these procedures witnessed a marked dip during the initial phase of the COVID-19 pandemic, the market has been steadily recovering.

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Nearly 450,000 patients are admitted to the hospital every year due to atrial fibrillation in the region. As a result, the growth in the patient pool has been leading to greater necessity for these procedures.

Catheterization laboratories to see high adoption rate

During the unexpected outbreak of the COVID-19 pandemic, numerous healthcare establishments were forced to cancel or postpone non-emergency surgeries and medical procedures due to the threat of infection. However, catheterization labs were one of the most functional medical facilities during the period, catering to the needs of high-risk patients including those suffering from cardiovascular conditions.

The demand from heart patients is expected to stay aloft for the next few years as well. This trend is certain to induce significant growth of the segment, benefiting the overall North America electrophysiology market share.

Presence of skilled professionals in Canada

The market for electrophysiology in Canada is expected to witness an uptick in the requirement of these procedures over the forecast years, thanks to the presence of highly skilled healthcare professionals in the region. The development of the healthcare industry in the country, increased government and private expenditure on healthcare, and the consequent availability of advanced medical tools and equipment has been fueling developments in the sector.

Miniaturization of monitoring systems in Europe

The development of miniaturized EP monitoring systems has been pushing the demand for these devices in the Europe electrophysiology industry, especially in the COVID-19 times. Remote monitoring as well as the programing abilities of implantable electrophysiology (EP) devices are receiving significant attention from the cardiac rhythm and failure divisions in the region.

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Miniaturized implanted EP devices allow cardiologists to care for patients without the need for personal meetings, preventing the risk of COVID-19 infection.

Rising incidence of catheter ablations in Germany

The Europe electrophysiology market outlook is expected to spiral upward through the upcoming years due to the increasing contribution of the German market. The electrophysiology market is Germany was valued at $200 million during 2020 and is expected to accrue higher share through 2027, triggered by the expanding demand from COVID-19 patients who are being diagnosed with heart rhythm disorders.

According to the European Society of Cardiology, the country is one of the most active ones, recording over 900 catheter ablations for every 1 million individuals in the region.

Increasing hospitalization due to ventricular tachycardia

The ventricular tachycardia segment is slated to grow at a high rate through the upcoming years, driven by the increasing incidence of heart failures in Europe. The regional market share from the segment is anticipated to surge at a 13.5% CAGR through 2027.

The demand for electrophysiology procedures is escalating due to the increasing hospitalization rate amongst patients in the region. This is because ventricular tachycardia is one of the most prominent causes of heart failure. More than 15 million individuals suffer from heart failure in the European countries.

Technological breakthroughs in cardiac mapping in APAC

The considerable degree of technological advances in the area of cardiac mapping systems has been positively impacting the Asia Pacific electrophysiology market outlook. Novel 3D cardiac mapping systems can create a three-dimensional model of all the chamber of the heart and can accurately locate the catheter.

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This has eliminated the need for an X-ray to detect the movement of catheters, improving the resolution as well as gaining prompt access to cardiac activation maps.

Developing healthcare infrastructure in India

The Indian market for electrophysiology has been keeping abreast of the medical upgradations through the rising volume of government and private investments toward the development of the healthcare infrastructure throughout the nation. The regional industry share is anticipated to surge at a 13% CAGR through the forecast times. The expansion is supported by the growing incidence of atrial fibrillation, high rate of adoption of telemedicine and of advanced electrophysiology equipment, and the entry of several leading players.

Boston Scientific Corporation, GE Healthcare, Medtronic, Koninklijke Philips, Japan Lifeline, Abbott Laboratories, and Johnson and Johnson are some leading manufacturers of electrophysiology devices globally.

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