Electrophysiology Catheter Market Worth $ 7,288.50 million by 2028

The electrophysiology catheter market is expected to reach US$ 7,288.50 million by 2028 from US$ 4,133.18 million in 2021. The market is estimated to grow at a CAGR of 8.4% from 2021 to 2028.

The scope of the electrophysiology catheter market includes product type, application, end user and geography. Based on region, the electrophysiology catheter market is segmented into North America, Europe, Asia Pacific, Middle East & Africa, and South and Central America. The report offers insights and in-depth analysis of the electrophysiology catheter market, emphasizing various parameters such as market trends and opportunities, market dynamics, and competitive landscape analysis of leading market players across North America, Europe, Asia Pacific, Middle East & Africa, and South and Central America. It also includes COVID–19 impact analysis across the regions.

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St. Jude Medical (Abbott), Boston Scientific Corporation, Stryker Corporation, Medtronic, Transonic Systems Inc., CathRx Ltd, APT MEDICAL INC., MicroPort Scientific Corporation, Biosense Webster (Johnson and Johnson Services, Inc.), Inc. are among the leading companies in the electrophysiology catheter market.

Impact of COVID-19 Pandemic on electrophysiology catheter market:

The COVID-19 pandemic is adversely affecting industries worldwide. The outbreak led to significant disruptions in primary industries, such as manufacturing, healthcare, and construction, in 2020. In response to the need to control the spread of the COVID-19 infection among people, hospitals discontinued several services, including most of the electrophysiology procedures were reduced to accommodate the healthcare demands of the pandemic, and operations were redirected toward the management of the disease. Moreover, hospitals and healthcare providers have to reassign their specialist doctors to various tasks in ICUs and other COVID-19-related wards. Furthermore, the limited access to clinics, social distancing resulted in a slow-down in patient flow and referrals that caused a decline in electrophysiology procedures that affected the growth of the electrophysiology catheter market.

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Based on product type, the electrophysiology catheter market is segmented into electrophysiology diagnostic catheters and electrophysiology ablation catheters. The electrophysiology diagnostic catheters segment held the largest share of the market in 2021, and the same segment is anticipated to register the highest CAGR in the market during the forecast period. Electrophysiology diagnostic catheters are intended for temporary intra-cardiac sensing, recording, stimulation, and mapping.

These catheters are almost always used in conjunction with cardiac ablation procedures and can be utilized during procedures not involving ablation such as pacemaker, ICD, or CRT device implantation. The number of diagnostic electrophysiology catheters have drastically increased due to the approval of new, minimally invasive treatments for atrial fibrillation and includes fixed curve and steerable curve diagnostic catheters.

Also, it holds high potential representing an open platform allowing high-quality procedures by reducing cost and burden on the patient. The company's design goal for electrophysiology catheters is to incorporate features that improve outcomes for patients and clinicians by reducing costs for healthcare providers. Moreover, in September 2020, Acutus Medical announced receiving FDA 510 (k) clearance for its second generation AcQMap 3D imaging and mapping catheter. This new product is the world's only integrated high-resolution ultrasound-based imaging and non-contact mapping catheter capable of capturing cardiac imaging information leading to an upward thrust in the market's growth.

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This release was published on openPR.