Electrophysiology Market - Segments Worth Observing Aiding Growth Factors 2030

Electrophysiology Market by Product (EP Ablation Catheters, EP Laboratory Devices, EP Diagnostic Catheters, Access Devices, and Others), Indication (Atrial Fibrillation (AF), Atrial Flutter, Wolff-Parkinson-White Syndrome (WPW), Atrioventricular Nodal Reentry Tachycardia (AVNRT), and Others), and End User (Hospitals & Cardiac Centers, Ambulatory Surgery Centers, and Others): Global Opportunity Analysis and Industry Forecast, 2021-2030.

The global electrophysiology market was estimated at $6.49 billion in 2020 and is expected to hit $22.65 billion by 2030, registering a CAGR of 14.4% from 2021 to 2030.

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What is the Impact of COVID-19 Pandemic on Electrophysiology Market?

During the pandemic, the majority of hospitals were restructured to heighten hospital capacity for Covid-19 patients, especially during the initial phase. This gave way to cancellation of many non-essential surgical processes, which impacted the global electrophysiology market negatively.
However, the market is anticipated to recoup soon.
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Alarming rise in prevalence of cardiac arrhythmia, advancements in technology in pharmaceutical and medical device industry for manufacturing of electrophysiology products, rise in demand for cardiac ablation procedure, and increase in number of approval for electrophysiology catheter and other devices are expected to notably contribute toward the growth of the global electrophysiology market during the forecast period.

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.

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.

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North America held the major share in 2020-

By region, the market across North America dominated in 2020, garnering more than two-thirds of the global electrophysiology market. This is due to rise in prevalence of cardiac arrhythmia and increase in number of approvals for electrophysiology devices in the province. Simultaneously, the Asia-Pacific region is expected to cite the fastest CAGR of 15.10% throughout the forecast period. This is attributed to rise in prevalence of atrial fibrillation, advancements in technology in the field of electrophysiology, growth in health care expenditures, and increase in geriatric population in the region.

Key players in the industry-

Biotronik SE & Co. KG
Boston Scientific Corporation
Abbott Laboratories
CardioFocus, Inc.
GE Healthcare
Koninklijke Philips N.V.
Medtronic Plc.
MicroPort Scientific Corporation
Siemens Healthineers AG.
Johnson & Johnson, Inc.

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