Electrophysiology Devices Market to Reach a Valuation of US$ 14.8 Bn by the End 2031

The global electrophysiology devices market is expected to reach the valuation of US$ 11 Bn by 2027, states a research report by Transparency Market Research (TMR). Moreover, the study highlights that the market for electrophysiology devices is expected to attract growth at a CAGR of over 8% during the forecast period, 2019-2027.

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TMR research report provides exhaustive study of prime factors shaping the development of the global electrophysiology devices market. Thus, this report covers in-depth assessment of historical and present trends, drivers, restraints, challenges, and growth prospects of the market. Apart from this, the document gives trustworthy statistics on shares, revenues, volume, production, and sales of the market for electrophysiology devices.

EP diagnostic catheters, EP ablation catheters, access devices, and EP laboratory devices are some of the prominent products available in the global electrophysiology devices market. In recent years, there is surge in prevalence of cardiac arrhythmias. This is one of the important factors fueling the sales prospects in the electrophysiology devices market.

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Surge in Number of Cardiovascular Patients to Drive Market Growth

Technological advancements, surge in cardiovascular patients, rise in older population, and growth in disease awareness programs in many developing nations are some of the key factors fueling the expansion opportunities in the global electrophysiology devices market.

Major government bodies of nations from across the globe are increasing investments for improvement of their healthcare facilities. Moreover, there is promising growth in awareness about cardiovascular disorders. These factors are likely to bring prominent expansion opportunities for the electrophysiology devices market in developing countries.

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Product Portfolio Expansion: Key Strategy of Players to Grow Their Businesses in Electrophysiology Devices Market

Some of the key players operating in the global electrophysiology devices market are Biosense Webster, Inc., Nihon Kohden Corporation, GE Healthcare, Siemens AG, Boston Scientific Corporation, Koninklijke Philips N.V., Medtronic plc, Microport Scientific Corporation, Abbott Laboratories, and Biotronik SE & Co.KG.

Due to presence of many leading players, the competition levels in the electrophysiology devices market seem to be intense. Major players are focused on the expansion of their product portfolio. As a result, they are seen increasing cash in-flow toward R&D projects. Moreover, several enterprises are focused on the branding of products they offer. These activities are projected to help in the expansion of global electrophysiology devices market in the years to come.

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North America to Maintain Dominant Position in Market

In terms of region, the global electrophysiology devices market is spread across many geographies including Europe, Asia Pacific, North America, Middle East and Africa (MEA), and Latin America. Of them, North America is one of the leading regions of the market.

The North America electrophysiology devices market is expected to maintain its dominance on the back of many factors such as surge in prevalence of cardiac arrhythmias, which needs electrophysiology monitoring, presence of numerous well-equipped healthcare facilities, and existence of established healthcare policies offering availability of superior healthcare facilities in the region.

The market is expected to observe notable growth opportunities in Asia Pacific. This market growth can be attributed to many facets such as high medical expenditure by regional governments and improved healthcare infrastructure in many developing nations such as India and China.

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Global Electrophysiology Devices Market Segmentation

The research report analysts have performed segmentation of the global electrophysiology devices market on the basis of many crucial aspects such as product type, indication, end-user, and region. Based on indication, the market for electrophysiology devices is divided into five key segments such as atrioventricular nodal re-entry tachycardia (AVNRT), atrial fibrillation (AF), atrial flutter, Wolff-Parkinson-white syndrome (WPW), and others. In terms of end-user, the market is bifurcated into four main parts, namely, hospitals, diagnostic centers, clinics, others.

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