Press release
Electrophysiology Market Size to Reach USD 22,651.4 Million By 2030 at 14.4% CAGR: Valuates Reports
The global electrophysiology market size was valued at $6,499.7 million in 2020, and is projected to reach $22,651.4 million by 2030, registering a CAGR of 14.4% from 2021 to 2030. Electrophysiology is defined as the tests, which help physicians to understand the nature of abnormal heart rhythm. It accesses electrical heart activity and is used to diagnose arrhythmia or abnormal heartbeats. The procedure is conducted by inserting the catheter, followed by wire electrode, which measure the electrical activity through blood vessels, that enter the heart. The EP market devices such as ablation catheter, 3D mapping system, radio frequency generator, and access devices are available in electrophysiology laboratory, hospital or cardiac centers. The cardiac ablation procedure is one of the most widely used procedure for treatment of atrial fibrillation.Electrophysiology is defined as the branch of science that deals with the study of electrical pathway associated with heart nervous system. Electrophysiology devices are designed to measure electric current or voltage change on a wide range of scale from single ion channel protein to organs such as heart. The electrophysiology procedure is used to analyze heart’s electrical system and to manage abnormal heart rhythms.
Get Detailed Analysis of COVID-19 Impact on Electrophysiology Market @ https://reports.valuates.com/request/customisation/ALLI-Manu-1T62/Electrophysiology_Market
Factors that drive growth of the global electrophysiology market include rise in demand for catheter ablation procedure, advancements in technology in the medical device sector, and surge in demand for early diagnosis. In addition, rise in prevalence of cardiac arrhythmia such as atrial fibrillation, atrial flutter, and ventricular arrhythmia contributes toward growth of the global market. According to the International Journal of Stroke, in 2020, it was analyzed that atrial fibrillation is the most frequent cardiac arrhythmia. Ablation is the most common procedure for treatment of atrial fibrillation, which is expected to increase the need for electrophysiology devices, thus driving growth of the market.
Furthermore, market players are focused on manufacturing of different electrophysiology devices such as ablation catheter, diagnostic catheter, and 3D mapping system. For instance, in January 2022, Abbott laboratory, a pharmaceutical company, announced clearance from the Food and Drug Administrative (FDA) for its EnSite X EP system with EnSite omnipolar technology (OT), in the U.S. and Europe. It is a cardiac mapping platform, designed to help doctors for treatment of cardiac arrhythmia. Moreover, increase in number of geriatric populations and rise in prevalence of chronic conditions such as diabetics and hypertension, who are more prone to atrial fibrillation escalate the electrophysiology (EP) market growth. According to the Journal of J Arrhythm, in August 2021, it was reported that around 70% of population between the ages of 65 and 85 years were diagnosed with atrial fibrillation.
Moreover, rise in healthcare expenditure and development of pharmaceutical and medical technology sectors for manufacturing of advanced catheter is anticipated to drive growth of the electrophysiology market. In addition, expansion of many clinical studies on various types of devices to evaluate their safety and efficacy propels growth of the market. For instance, in October 2020, Biosense Webster, Inc., a part of the Johnson & Johnson Medical Devices Companies announced the ongoing clinical trial on 550 participants for the treatment of paroxysmal atrial fibrillation (PAF) by pulsed field ablation (PFA) system with irreversible electroporation (IRE) (inspIRE). The clinical study started on August 2020, and is estimated to complete by May 2023.
Rise in number of approvals for medical devices is the key factor that further boost growth of the electrophysiology market. In addition, initiatives taken by governments and private organizations to spread knowledge among physicians regarding electrophysiology devices and procedures propel growth of the market.
View Full Report: https://reports.valuates.com/reports/ALLI-Manu-1T62/electrophysiology
The global electrophysiology market is segmented into product, indication, end user, and region. On the basis of product, the market is segregated into EP ablation catheters, EP laboratory devices, EP diagnostic catheters, access devices, and others. The EP ablation catheters segment is further subcategorized into cryoablation EP catheters, radiofrequency ablation catheters, microwave ablation systems, laser ablation systems, and navigational advanced mapping accessories. The EP laboratory devices segment is further subcategorized into EP X-Ray systems, 3D mapping systems, EP recording systems, EP remote steering systems, and others.
Further, the EP diagnostic catheters segment is further subcategorized into conventional EP diagnostic catheters, advanced EP diagnostic catheters, and ultrasound EP diagnostic catheters. The EP ablation catheters segment dominated the market in 2020, and this trend is expected to continue during the forecast period, owing to advancements in technology to manufacture innovative electrophysiology market ablation catheter and increase in number of ablation procedure.
Depending on indication, the electrophysiology market is divided into atrial fibrillation (AF), atrial flutter, Wolff-Parkinson-White syndrome (WPW), atrioventricular nodal reentry tachycardia (AVNRT), and others. The atrial fibrillation segment exhibited highest growth in 2020, and is expected to lead during the forecast period, owing to increase in prevalence of atrial fibrillation, increase in geriatric population, and development of electrophysiology market diagnosis & ablation catheters by the medical device industry. By end user, the market is categorized into hospitals & cardiac centers, ambulatory surgery centers, and others.
The hospitals & cardiac segment was the major contributor in 2020, and is expected to maintain its lead during the forecast period, owing to increase in development of hospital infrastructure and rise in initiatives taken by governments and private organizations to develop hospitals facilities.
The COVID-19 outbreak is anticipated to have a negative impact on growth of the global electrophysiology market. Implementation of lockdown has delayed the ablation procedure; thereby, having a minimal negative impact on the market. The COVID-19 pandemic has stressed healthcare systems in the world and increased the need for advanced hospitals. Many hospitals across the globe, including cardiac centers were restructured to increase hospital capacity for patients diagnosed with COVID-19. This leads to cancellation of many non-essential surgical procedures and the quality of care toward patients other than COVID-19 decreases. This has significantly contributed to decline of the global market.
Key Findings Of The Study
➣By product, the EP ablation catheters segment was the highest contributor to the electrophysiology market in 2020.
➣On the basis of indication, the atrial fibrillation segment dominated the market in 2020, and is expected to continue this trend during the forecast period.
➣Depending on end user, the hospitals & cardiac centers segment led the electrophysiology market in 2020.
➣Region wise, North America garnered the largest revenue share in 2020, however, Asia-Pacific is anticipated to grow at the highest CAGR during the forecast period.
North America garnered a major share of the EP market in 2020, and is expected to continue to dominate during the forecast period, owing to rise in prevalence of cardiac arrhythmia, increase in number of approvals for electrophysiology, and strong presence of key players. However, Asia-Pacific is expected to register highest CAGR of 15.1% from 2021 to 2030, owing to increase in prevalence of atrial fibrillation, advancements in technology in the field of electrophysiology market, and initiatives taken by governments to enhance healthcare infrastructure
Similar Reports:
Medical Alert Systems Market: https://reports.valuates.com/reports/ALLI-Manu-2C82/medical-alert-systems
Ablation Technology Market: https://reports.valuates.com/reports/QYRE-Auto-5V4914/ablation-technology
Cardiovascular Devices Market: https://reports.valuates.com/reports/QYRE-Auto-34D478/global-cardiovascular-devices
Valuates Reports
sales@valuates.com
For U.S. Toll Free Call +1-(315)-215-3225
For IST Call +91-8040957137
WhatsApp : +91-9945648335
Website: https://reports.valuates.com
Twitter - https://twitter.com/valuatesreports
Linkedin - https://in.linkedin.com/company/valuatesreports
Facebook - https://www.facebook.com/valuatesreports/
Valuates offers in-depth market insights into various industries. Our extensive report repository is constantly updated to meet your changing industry analysis needs.
This release was published on openPR.
Permanent link to this press release:
Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release Electrophysiology Market Size to Reach USD 22,651.4 Million By 2030 at 14.4% CAGR: Valuates Reports here
News-ID: 2550259 • Views: …
More Releases from Valuates Reports
2-Oxazolidinone Market Revenue, Insights, Overview, Outlook, Analysis | Valuates …
2-Oxazolidinone Market Size
The global market for 2-Oxazolidinone was valued at US$ 732 million in the year 2024 and is projected to reach a revised size of US$ 916 million by 2031, growing at a CAGR of 3.3% during the forecast period.
Get Free Sample: https://reports.valuates.com/request/sample/QYRE-Auto-1I12558/Global_2_Oxazolidinone_Market?utm_source=Openpr&utm_medium=Referral
This report aims to provide a comprehensive presentation of the global market for 2-Oxazolidinone, with both quantitative and qualitative analysis, to help readers develop business/growth strategies, assess…
Strontium-88 Market Revenue, Insights, Overview, Outlook, Analysis | Valuates Re …
Strontium-88 Market Size
The global market for Strontium-88 was valued at US$ 89 million in the year 2024 and is projected to reach a revised size of US$ 126 million by 2031, growing at a CAGR of 5.2% during the forecast period.
Download Free Sample: https://reports.valuates.com/request/sample/QYRE-Auto-34T9158/Global_Strontium_Market?utm_source=Openpr&utm_medium=Referral
This report aims to provide a comprehensive presentation of the global market for Strontium-88, with both quantitative and qualitative analysis, to help readers develop business/growth strategies, assess…
Cobalt Sulfate Heptahydrate Market Revenue, Insights, Overview, Outlook, Analysi …
Cobalt Sulfate Heptahydrate Market Size
The global market for Cobalt Sulfate Heptahydrate was valued at US$ 449 million in the year 2024 and is projected to reach a revised size of US$ 729 million by 2031, growing at a CAGR of 6.9% during the forecast period.
Get Free Sample: https://reports.valuates.com/request/sample/QYRE-Auto-19T19438/Global_Cobalt_Sulfate_Heptahydrate_Market?utm_source=Openpr&utm_medium=Referral
The 2025 U.S. tariff policies introduce profound uncertainty into the global economic landscape. This report critically examines the implications of recent tariff adjustments…
Ultrasonic Fabric Cutting and Sealing Machine Market Revenue, Insights, Overview …
Ultrasonic Fabric Cutting and Sealing Machine Market Size
The global market for Ultrasonic Fabric Cutting and Sealing Machine was valued at US$ 1200 million in the year 2024 and is projected to reach a revised size of US$ 2091 million by 2031, growing at a CAGR of 8.2% during the forecast period.
Get Free Sample: https://reports.valuates.com/request/sample/QYRE-Auto-12M18905/Global_Ultrasonic_Fabric_Cutting_and_Sealing_Machine_Market?utm_source=Openpr&utm_medium=Referral
This report aims to provide a comprehensive presentation of the global market for Ultrasonic Fabric Cutting and…
More Releases for Electrophysiology
Electrophysiology Market worth $15.1 billion by 2028
Electrophysiology Market in terms of revenue was estimated to be worth $8.2 billion in 2023 and is poised to reach $15.1 billion by 2028, growing at a CAGR of 13.0% from 2023 to 2028 according to a new report by MarketsandMarkets™. Many factors, such as technological advancements, funding and reimbursement, strong healthcare funding, active research funding, a clear regulatory framework, growing minimally invasive procedure adoption, and the presence of key…
Electrophysiology Devices Market - Empowering Cardiac Care: Innovations in Elect …
Newark, New Castle, USA: The "Electrophysiology Devices Market" provides a value chain analysis of revenue for the anticipated period from 2022 to 2030. The report will include a full and comprehensive analysis of the business operations of all market leaders in this industry, as well as their in-depth market research, historical market development, and information about their market competitors
Electrophysiology Devices Market: https://www.growthplusreports.com/report/electrophysiology-devices-market/8036
This latest report researches the industry structure, sales, revenue,…
Electrophysiology Market Business Strategies, and Regional Outlook
The global electrophysiology market is on the path to generating $17,482.7 million by 2030, compared to $7,076.1 million in 2021, advancing at a compound annual growth rate of 10.6% between 2021 and 2030. The growing count of cardiac ablation procedures, rising reforms for healthcare infrastructure growth, increasing demand for ablation and diagnostic catheters, and technology advancements are some major aspects driving the growth of the market.
Furthermore, in 2021, laboratory devices…
Electrophysiology (EP) Device Market 2022 | Detailed Report
The Electrophysiology (EP) Device market research report delivers accurate data and innovative corporate analysis, helping organizations of all sizes make appropriate decisions. The Electrophysiology (EP) Device report also incorporates the current and future global market outlook in the emerging and developed markets. Moreover, the report also investigates regions/countries expected to witness the fastest growth rates during the forecast period.
The Electrophysiology (EP) Device research report also provides insights of different…
Electrophysiology (EP) Device Market 2021 | Detailed Report
The Electrophysiology (EP) Device research report combines vital data incorporating the competitive landscape, global, regional, and country-specific market size, market growth analysis, market share, recent developments, and market growth in segmentation. Furthermore, the Electrophysiology (EP) Device research report offers information and thoughtful facts like share, revenue, historical data, and global market share. It also highlights vital aspects like opportunities, driving, product scope, market overview, and driving force.
Get Free Sample PDF…
Global Electrophysiology Market Report Forecast to 2027
The study aids in the evaluation of aberrant heartbeats and the examination of electrical impulses in the heart. The ability to target the regions of the heart that cause atrial fibrillation has improved because of substantial advancements in EP technology. Other cardiac arrhythmias, such as atrial flutter, Wolff-Parkinson-White Syndrome (WPW), atrioventricular nodal reentry tachycardia (AVNRT), and others, have benefited from the advancements in technology.
Global Electrophysiology market was valued at $5.69…