Electrophysiology (EP) Market Expected to Reach $22.651 Billion by 2030

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.

List of Key Players
Johnson & Johnson Services, Inc., MICROPORT SCIENTIFIC CORPORATION, Siemens Healthineers AG, BOSTON SCIENTIFIC CORPORATION, Biotronik SE & Co. KG, Medtronic plc. (Zephyr Technology Corporation), CardioFocus, Inc., ABBOTT LABORATORIES, GE Healthcare, Koninklijke Philips N.V.

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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.

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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.

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