Global Electrophysiology Devices Market Is Expected To Show Massy Magnification In The Next Upcoming Years, estimates DelveInsight

Global Electrophysiology Devices Market was valued at USD 6.31 billion in 2020, growing at a CAGR of 9.73% during the forecast period from 2021 to 2026, it is anticipated to reach USD 9.22 billion by 2026. The major factors such as the demand for electrophysiology devices is primarily being boosted by rising prevalence of cardiovascular diseases, technological advancement in product development, increasing geriatric population, sedentary lifestyle, and increasing awareness programs regarding cardiovascular diseases are expected to drive the Electrophysiology Devices market share.

Electrophysiology Devices Overview

Electrophysiology devices are devices that are used for evaluating the electrical waves in the heart and in order to check the abnormal heart's rhythm. Electrophysiology devices consist of electrical devices such as the pacemakers, defibrillators and implementation of cardiac resynchronization therapy. Recent launch of the technologically advanced electrophysiology devices such as the new Gallant™ implantable cardioverter defibrillator (ICD) and cardiac resynchronization therapy defibrillator (CRT-D) devices by Abbott in Europe on February 08, 2020 for people suffering from abnormal heart rhythms and heart failure.

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Recent Breakthroughs in Electrophysiology Devices Market

• In recent years, the Electrophysiology market observed expansions in terms of clinical, commercial, and clinical development.
• On April 02, 2021, the American College of Cardiology (ACC) had launched the Electrophysiology Device Implant Registry as part of the National Cardiovascular Data Registry (NCDR). It will help the hospitals and other private practices to measure and improve the quality of care that they tend to offer based on data comparisons.
• On October 06, 2021, Boston Scientific had announced the agreement to acquire Baylis Medical Company Inc. for an upfront payment of USD 1.75 billion. The acquisition will expand the Boston Scientific electrophysiology and the structural heart product portfolios comprising the radiofrequency (RF) NRG and VersaCross Transseptal Platforms.
• On November 02, 2020, Abbott had strengthened its electrophysiology portfolio with the new approvals. The company had announced CE mark and approval in Australia for the EnSite XEP System, a cardiac mapping system.
• Thus, owing to the launch of such devices and acquisition done by key players, there will be a significant growth in the ep market during the forecast period.

COVID-19 Impact on Electrophysiology Devices Market

The EP market had observed a period of stagnant growth owing to the outbreak of COVID-19. Due to the pandemic situation, all other elective procedures were temporarily stopped, whereas COVID-19 affected patients were given utmost priority. Apart from temporarily stopping because of COVID-19 procedures, several other factors such as the transport and trade related restrictions, and closing of manufacturing facilities were also responsible for causing stagnancy in the electrophysiology devices market growth. Hospitals and other medical facilities were temporarily stopped being visited by patients due to the increased chances of infections.

However, post-COVID-19 infection owing to the normalcy attained in terms of patient visits and relaxation given in COVID-19 guidelines, the healthcare industry has started resuming back to normal operations. Owing to the increase in technologically advanced electrophysiology devices, the demand for electrophysiology devices is expected to rise in the market, further leading to a growth in the ep market growth during the forecast period.

Key Takes Away From The Electrophysiology Devices Market Report Study

• Market size analysis for current market size (2021), and market forecast for 5 years (2022-2027)
• The effect of the COVID-19 pandemic on this market is significant. To capture and analyze suitable indicators, our experts are closely watching the electrophysiology devices market.
• Top key product/services/technology developments, merger, acquisition, partnership, joint venture happened for last 3 years
• Key companies dominating the Global Electrophysiology Devices Market.
• Various opportunities available for the other competitor in the Electrophysiology Devices Market space.
• What are the top performing segments in 2021? How these segments will perform in 2027.
• Which is the top-performing regions and countries in the current electrophysiology devices market scenario?
• Which are the regions and countries where companies should have concentrated on opportunities for electrophysiology devices market growth in the coming future?

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Electrophysiology Devices Market Dynamics

The EP study helps in the evaluation of electrical impulses of the heart to assess the abnormal heart rhythms. As per the data provided by the World Health Organization (2021), cardiovascular diseases (CVDs) are the leading cause of death across the globe, where in this group of disease account for an estimated 17.9 million lives each year. Furthermore, the same data by the WHO presented that over four out of five CVD deaths list strokes and heart attacks as the main cause, and one-third of these deaths are said to occur prematurely in people below 70 years of age. Over three quarters of CVD deaths take place in low- and middle-income countries.

Electrophysiology Devices Market Segment Analysis

• Electrophysiology Devices Market By Device Type (Treatment Devices [Defibrillators, Pacemakers, Cardiac Resynchronization Therapy Devices, Ablation Systems [Radiofrequency, Cryoablation, And Others], And Others], By Diagnostic Devices [ECG Monitors [Stress, Rest, And Holter Monitors], EP X-Ray Systems, EP Recording Systems, EP Imaging & Mapping Systems, Implantable Cardiac Monitors, And Others]), By Modality (Implantable And External),
• By Application (Ventricular Tachycardia, Atrial Fibrillation, Bradycardia, and Others),
• By End User (Hospitals, Ambulatory Surgical Centers, and Others),
• Electrophysiology Devices by Geography (North America, Europe, Asia-Pacific, and Rest of the World).

North America is expected to account for the largest share in the electrophysiology devices market

The growing prevalence of cardiovascular diseases such as heart failure and atrial fibrillation, access to better healthcare infrastructure along with the presence of major market players in the region are predicted to be the major influencing factors in driving the overall growth of the electrophysiology devices market over the forecast period. As per the facts provided by the Centers for Disease Prevention and Control (CDC), heart disease is the leading cause of death for men, women, and people of most racial and ethnic groups in the United States where about 655,000 Americans die from heart disease each year.

Electrophysiology Devices Market Key Players:

Some of the key market players operating in the electrophysiology devices market includes Boston Scientific Corporation, Lepu Medical Technology (Beijing) Co. Ltd, GENERAL ELECTRIC COMPANY, Medtronic, Abbott, BIOTRONIK, Microport Scientific Corporation, Acutus Medical, Inc., Imricor, Medical Devices Business Services, Inc. (Johnson & Johnson), Baylis Medical Company, Inc, Schwarzer Cardiotek GmbH, ATRICURE, INC., CardioFocus, Osypyka AG and others.

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Table of Content
1. Electrophysiology Devices Market Report Introduction
2. Electrophysiology Devices Market Executive Summary
3. Regulatory and Patent Analysis
4. Electrophysiology Devices Market Key Factors Analysis
5. Electrophysiology Devices Market Porter??s Five Forces Analysis
6. COVID-19 Impact Analysis on Electrophysiology Devices Market
7. Electrophysiology Devices Market Layout
8. Electrophysiology Devices Global Company Share Analysis - Key 3-5 Companies
9. Electrophysiology Devices Company and Product Profiles
10. Project Approach
11. KOL Views
12. DelveInsight Capabilities
13. Disclaimer
14. About DelveInsight

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