Electrophysiology Market Competitive Analysis by 2025| Johnson & Johnson (US), Boston Scientific (US), Abbott Laboratories (US), Medtronic (Ireland), GE Healthcare (US)

Electrophysiology Market is an outstanding market research report that conducts industry analysis on products, markets, companies, industries, and many countries worldwide. When it is about guessing general market conditions, the growth prospects in the market, likely restrictions, significant industry trends, market size, market share, sales volume, and future trends, the finest market research report such as this Electrophysiology Market report comes into the picture. The competitive analysis carried out in this industry analysis report includes strategic profiling of key market players, their core competencies, their strong and weak points, and the competitive landscape of the market which supports businesses to illustrate their individual strategies.

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Electrophysiology Market by Product (Lab Devices (3D Mapping, Recording), Ablation Catheters (Cryoablation, RF), Diagnostic Catheters (Conventional, Advanced, Ultrasound)), Indication (AF, AVNRT, WPW), End User (Hospitals, ASCs) - Global Forecasts to 2025

The major players in the market include:

Johnson & Johnson (US), Boston Scientific (US), Abbott Laboratories (US), Medtronic (Ireland), Koninklijke Philips N.V. (Royal Philips) (Netherlands), GE Healthcare (US), MicroPort Scientific Corporation (China), Stereotaxis (US), Imricor Medical Systems (US), EP Solutions (Switzerland), Epmap-System (Germany), OSYPKA AG (Germany), CardioFocus (US), CathVision (Denmark), Merit Medical Systems (US), BIOTRONIK (Germany), Siemens Healthineers (Germany), Lepu Medical (China), TZ Medical (US), Schwarzer Cardiotek GmbH (Germany), APN Health (US), Acutus Medical (US), Baylis Medical (Canada), Japan Lifeline (Japan), and CathRx (Australia).

The global electrophysiology market is projected to reach USD 10.6 billion by 2025 from USD 6.8 billion in 2020, growing at a CAGR of 9.1% from 2020 to 2025. Factors driving the growth of the market are technological advancements; new entrants in the market; growing investments, funds, and grants; and increasing incidence of target diseases and procedures. Emerging markets are also expected to offer high growth opportunities for players operating in this market. However, factors such as high cost of electrophysiology products and inadequate reimbursement, unfavorable healthcare reforms in the US, and cost-intensive requirement for clinical data for new product launches along with availability of alternative technologies are expected to restrain the growth of this market in the coming years. The reuse and reprocessing of devices and lack of skilled and experienced electrophysiologists are some of the challenges in this market. The growth of the market is also expected to slow temporarily during the forecast period due to the COVID-19 pandemic.

“3D Mapping Systems: The largest segment of EP laboratory devices market”

Based on type of product, the EP laboratory devices market is segmented into 3D mapping systems, EP recording systems, RF ablation systems, intra-cardiac echocardiography (ICE) ultrasound imaging systems, EP X-ray systems, and other electrophysiology laboratory devices (MRI systems and EP remote magnetic and robotic navigation systems). 3D mapping systems accounted for the largest share of the global EP laboratory devices market in 2019. Driven by its high growth potential, markets players are increasingly focusing on the launch of new technologically advanced devices. For instance, in August 2018, BioSig Technologies received the US Food and Drug Administration (FDA) clearance for the PURE EP System.

“Cryoablation EP Catheters: The largest segment of EP ablation catheters market”

The EP ablation catheters market is further segmented into cryoablation EP catheters, radiofrequency ablation catheters, laser ablation systems, and microwave ablation systems. Cryoablation EP catheters accounted for the largest share of the global EP ablation catheters market in 2019. The therapeutic advantages of cryoablation over other ablation modalities such as radiofrequency ablation are driving the growth of this market. In addition, various market players are taking initiatives to increase their market presence and strengthen product portfolio; they are also engaging in clinical studies to evaluate the safety of their products. Such initiatives are further supporting market growth. In May 2019, Koninklijke Philips N.V. (Netherlands) entered into a partnership with Medtronic (Ireland). Philips’ KODEX-EPD dielectric imaging and navigation system, dielectric imaging sensors, clinical software and services were expected to be leveraged to support cryoablation procedures performed using the Medtronic Arctic Front Advance cryoablation technology.

“Conventional EP Diagnostic Catheters: The largest segment of EP diagnostic catheters market”

On the basis of type, the EP diagnostic catheters market is segmented into conventional EP diagnostic catheters, advanced EP diagnostic catheters, and ultrasound EP diagnostic catheters. The conventional EP diagnostic catheters segment accounted for the largest share of the global EP diagnostic catheters market in 2019. This can be attributed to the development of technologically advanced fixed and steerable diagnostic catheters, rising prevalence of cardiac arrhythmias across the globe, and increasing demand for these lower-priced devices in emerging markets.

“Atrial Fibrillation: The dominating indication segment of electrophysiology market”

Based on indication, the electrophysiology market is segmented into atrial fibrillation, atrioventricular nodal reentry tachycardia (AVNRT), Wolff-Parkinson-White (WPW) syndrome, atrial flutter, and other indications.

Atrial fibrillation segment commanded the largest share of the electrophysiology market in 2019; this segment is also expected to witness the highest growth during the forecast period. The rapid growth in the aging population across the globe, increasing prevalence of atrial fibrillation, growing number of ablation procedures related to atrial fibrillation, and the development of advanced electrophysiology products for early diagnosis of atrial fibrillation are expected to drive the growth of this market segment in the coming years.

“Hospitals & Cardiac Centers: The largest sub-segment of electrophysiology segment”

Based on end user, the global electrophysiology market has been segmented into hospitals & cardiac centers and ambulatory surgery centers. The hospitals & cardiac centers segment accounted for the largest share in 2019 due to the increasing ablation procedures, presence of big cath labs and electrophysiology labs in hospitals, and rising prevalence of CVDs. Technological advancements, coupled with government funding, are also encouraging the installation of new tools and devices in hospitals.

“North America: The largest share contributing reginal segment of the global electrophysiology market in 2019”

The electrophysiology market is segmented into five major regions, namely, North America, Europe, the Asia Pacific, Latin America, and Middle East and Africa. North America accounted for a major share of the electrophysiology market in 2019. Factors such as the high burden of CVDs, an increasing number of clinical trials validating electrophysiology devices, the growing number of approvals for electrophysiology devices, and the presence of key players in this region are driving the growth of the electrophysiology market in the US. Moreover, the growing focus of government organizations on providing funding for research, the rising geriatric population, and the high incidence of cardiac diseases are the major factors driving the electrophysiology market in Canada.

A breakdown of the primary participants referred to for this report is provided below:

By Company Type: Tier 1–45%, Tier 2–34%, and Tier 3– 21%
By Designation: C-level–47%, Director-level–33%, and Others–20%
By Region: North America–35%, Europe–32%, Asia Pacific–25%, Latin America–6%, and the Middle East & Africa–2%

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Research Coverage

This report studies the breast biopsy market based on product, indication, end user, and region. The report also studies factors (such as drivers, restraints, opportunities, and challenges) affecting market growth. It analyzes the opportunities and challenges in the market and provides details of the competitive landscape for market leaders. Furthermore, the report analyzes micromarkets with respect to their individual growth trends and forecasts the revenue of the market segments with respect to five main regions (and the respective countries in these regions).

Reasons to Buy the Report

The report will enable established firms as well as entrants/smaller firms to gauge the pulse of the market, which, in turn, would help them to garner a larger market share. Firms purchasing the report could use one or a combination of the below-mentioned strategies for strengthening their market presence.

This report provides insights on the following pointers:

Market Penetration: Comprehensive information on the product portfolios offered by the top players in the electrophysiology market
Product Development/Innovation: Detailed insights on the upcoming trends, R&D activities, and product launches in the electrophysiology market
Market Development: Comprehensive information on lucrative emerging regions
Market Diversification: Exhaustive information about new products, growing geographies, and recent developments in the electrophysiology market
Competitive Assessment: In-depth assessment of market segments, growth strategies, revenue analysis, and products of the leading market players.

Table Of Contents

1 Introduction
1.1 Objectives Of The Study
1.2 Market Definition
Table 1 Inclusions & Exclusions
1.3 Market Scope
1.3.1 Markets Covered
1.3.2 Years Considered For The Study
1.4 Currency
1.5 Limitations
1.6 Stakeholders
1.7 Summary Of Changes

2 Research Methodology
2.1 Research Data
Figure 1 Research Design
2.1.1 Secondary Data
2.1.1.1 Key Data From Secondary Sources
2.1.2 Primary Data
2.1.2.1 Breakdown Of Primaries
Figure 2 Breakdown Of Primary Interviews: By Company Type, Designation, And Region
2.2 Market Estimation Methodology
Figure 3 Research Methodology: Hypothesis Building
2.2.1 Vendor Revenue-Based Market Estimation
Figure 4 Market Size Estimation: Vendor Revenue-Based Market Estimation
2.2.2 End User-Based Market Estimation
Figure 5 Market Size Estimation: End User-Based Market Estimation
2.2.3 Primary Research Validation
2.3 Data Triangulation Methodology
2.4 Market Breakdown And Data Triangulation
Figure 6 Data Triangulation Methodology
2.5 Research Assumptions
2.6 Research Limitations

3 Executive Summary
Figure 7 Electrophysiology Market, By Product, 2020 Vs. 2025 (Usd Million)
Figure 8 Electrophysiology Market, By Indication, 2020 Vs. 2025 (Usd Million)
Figure 9 Electrophysiology Market, By End User, 2020 Vs. 2025 (Usd Million)
Figure 10 Asia Pacific Market To Grow At The Highest Cagr During The Forecast Period (2020-2025)

4 Premium Insights
4.1 Electrophysiology Market Overview
Figure 11 Technological Advancements – Key Factors Driving Growth Of Global Electrophysiology Market
4.2 Geographic Analysis: Electrophysiology Market, By Indication And Region
Figure 12 Atrial Fibrillation Segment Dominated The Asia Pacific Electrophysiology Market In 2019
4.3 Geographic Analysis: Electrophysiology Market, By Product And Region
Figure 13 Electrophysiology Laboratory Devices Segment Accounted For Largest Market Share In 2019
4.4 Electrophysiology Market Share, By End User, 2020 Vs. 2025
Figure 14 Hospitals & Cardiac Centers Segment To Account For Largest Market Share During Forecast Period
4.5 Geographical Snapshot Of The Electrophysiology Market
Figure 15 China Market To Register Highest Cagr During Forecast Period (2020-2025)

5 Market Overview
5.1 Introduction
Figure 16 Evolution Of Electrophysiology
5.2 Market Dynamics
Figure 17 Electrophysiology Market: Drivers, Restraints, Opportunities, And Challenges
5.2.1 Drivers
5.2.1.1 Technological Advancements
5.2.1.1.1 Non-Invasive Cardiac Mapping
5.2.1.1.2 Improved Ablation
5.2.1.1.3 Mri Guided Ablation Procedures
5.2.1.1.4 Ultrasound Guidance In The Ep Lab
5.2.1.2 New Entrants In The Market
Table 2 New Entrants In The Cardiac Mapping Systems Market
5.2.1.3 Growing Investments, Funds, And Grants
5.2.1.4 Increasing Incidence Of Target Diseases And Procedures
5.2.2 Restraints
5.2.2.1 High Cost Of Electrophysiology Products And Inadequate Reimbursement
5.2.2.2 Unfavorable Healthcare Reforms In The Us
5.2.2.3 Cost-Intensive Requirement For Clinical Data For New Product Launches Along With Availability Of Alternative Technologies
5.2.3 Opportunities
5.2.3.1 Emerging Markets
5.2.4 Challenges
5.2.4.1 Reuse And Reprocessing Of Devices
5.2.4.2 Lack Of Skilled And Experienced Electrophysiologists
5.3 Value Chain Analysis
Figure 18 Value Chain Analysis: Maximum Value Added During Manufacturing Phase
5.4 Regulatory Analysis
5.4.1 North America
5.4.1.1 Us
Table 3 Us Fda: Medical Device Classification
Table 4 Us: Medical Device Regulatory Approval Process
5.4.1.2 Canada
Table 5 Canada: Medical Device Regulatory Approval Process
Figure 19 Canada: Regulatory Approval Process For Medical Devices
5.4.2 Europe
Figure 20 Europe: Regulatory Approval Process For Medical Devices (Mdr)
5.4.3 Asia Pacific
5.4.3.1 Japan
Table 6 Japan: Medical Device Classification Under Pmda
5.4.3.2 China
Table 7 China: Classification Of Medical Devices
5.4.3.3 India
5.5 Covid-19 Impact On The Electrophysiology Market

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