Global Electrophysiology Market is anticipated to witness a CAGR of 12% by 2026 - Key Players are Abbott, Medtronic, Boston Scientific, Biotronik, Johnson & Johnson

Electrophysiology is a test used to diagnose abnormal heart rhythm or arrhythmias. It helps in evaluating the electrical activity of the heart by inserting a catheter into blood vessels which enters heart and then measuring the electrical activity through wire electrodes. There are different types of EP products which include EP ablation catheters, EP laboratory devices, EP diagnostic catheters, and EP access devices.

New Product Development and Commercialization to fuel the Demand of Electrophysiology Market

Technological innovations and developments in terms of new product development tend to provide a competitive edge to all manufacturers and therefore, all major players are mainly focusing on investing in their research activities for new product development and enhancing their geographic reach to strengthen their position in the electrophysiology market.

Some of the recent developments in electrophysiology market are listed below:
• In May 2022, CathVision received the US Food and Drug Administration (FDA) clearance for its ECGenius electrophysiology recording system offering high-fidelity, low-noise, cardiac electrograms, which helps electrophysiologists improve diagnosis and treatment of complex atrial arrhythmias such as atrial fibrillation.
• In February 2022, Medtronic received the US FDA expanded approval for its Freezor and Freezor Xtra Cardiac Cryoablation Focal Catheters for the treatment of pediatric atrioventricular nodal reentrant tachycardia (AVNRT).
• In January 2022, Abbott received the US FDA clearance for its EnSite X EP System featuring EnSite Omnipolar Technology (OT), designed for the treatment of cardiac arrhythmias efficiently by creating three-dimensional maps of the heart.

An Increasing Number of Electrophysiology Labs to Boost the Adoption of Electrophysiology Market

Growing cases of atrial fibrillation and other targeted diseases drives the adoption of electrophysiology procedures across the world. Public as well as private bodies are primarily focusing on establishing Electrophysiology labs and expanding their services to provide advanced treatment solutions to their patients.
• In February 2022, Ramesh Hospitals launched an advanced cardiac electrophysiology lab in Vijayawada, India with a goal to help and treat patients through advanced therapies such as RF ablation.
• In February 2022, Catholic Health (US) launched St. Francis Heart Center (SFHC) at its St. Catherine of Siena Hospital (SCSH) in Smithtown, USA, for the treatment of patients with acute chest pain.
• In January 2022, Pulse Heart Institute partnered with Summit Health Oregon (SHO), one of the largest multispecialty and physician-led medical group in Central Oregon, to launch EP services through the Heart Rhythm COE.

Aggressive Growth Strategies Adopted by the Key Market Players to Increase their Share in Electrophysiology Market

All the established and leading players operating in the global electrophysiology market have adopted acquisitions as a key growth strategy to expand their product offerings and to develop advanced electrophysiology products.

Some of thee recent developments are listed below-
• In January 2022, Medtronic plc entered into an agreement to acquire Affera, Inc. offering solutions for cardiac arrhythmias. With this acquisition, Medtronic intends to advance its electrophysiology by entering into additional EP segments, such as mapping and navigation.
• In January 2022, H-CYTE, Inc. entered into a letter of intent to acquire Catheter Precision, Inc., a company focused on developing advanced cardiac electrophysiology products.
• In June 2021, Boston Scientific Corporation exercised its option and acquired remaining shares of Farapulse, Inc., to complement its existing EP portfolio by including FARAPULSE Pulsed Field Ablation (PFA) System.

Competitive Landscape Analysis: Electrophysiology Market

The global electrophysiology market is marked by the presence of well-established and leading market players such as Abbott Laboratories (US); Medtronic plc (Ireland); Boston Scientific Corporation (US); BIOTRONIK SE & Co. KG (Germany); Johnson & Johnson (US); and others.

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Ruta Halde
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