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Electrophysiology Market is projected to expand at a steady CAGR of 8.9% during forecast period 2021-2031 | Abbott, Medtronic, Boston Scientific Corporation, Koninklijke Philips N.V.
Electrophysiology Market
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Atrial and ventricular fibrillation, tachycardia, and other diseases that have an impact on the heart are mostly diagnosed and treated with electrophysiology equipment. Healthcare professionals use a variety of tools based on the electrophysiological technique to identify and treat various disorders, including ablation and diagnostic catheters, mapping systems, etc.
Market Trends and Drivers
The increasing incidence of target diseases and procedures is boosting the growth of the market. According to the WHO, CVD is the largest global cause of death. Age, race, and family history are significant factors influencing the increased prevalence of CVD and strokes. Other risk factors include using tobacco, having high blood pressure (hypertension), having high cholesterol, being obese, being physically inactive, having diabetes, eating unhealthily, and drinking alcohol.
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The prevalence of CVD is on the rise in part due to conditions like hypertension, diabetes, dyslipidemia, and obesity. By 2030, the American Heart Association projects that 41.4% of US individuals will have hypertension (an increase of 8.4 percent from 2012). Additionally, according to the organization, the cost of CVD will increase from USD 863 billion in 2010 to USD 1,044 billion by 2030. Globally, 17.9 million people passed away from CVD in 2016. According to projections, this number will reach 23.6 million by 2030.
The American Heart Association (AHA) claims that catheter-based ablation techniques have a 90% success rate, and minimal risk of complications, and allow patients to return to their regular activities in a few days. Leading businesses are investing more in the creation of novel cardiac ablation devices to increase success rates and decrease problems during procedures, including Biosense Webster, Medtronic, and Boston Scientific Corporation.
The limited effectiveness of anti-arrhythmic medications in the management of arterial filtration is another factor boosting catheter ablation demand. A study titled Radiofrequency Ablation vs. Antiarrhythmic Drugs as First-Line Treatment of Paroxysmal Atrial Fibrillation (RAAFT 2) presented its findings in Massachusetts (US) in May 2012 at the Heart Rhythm Society meeting, concluding that ablation of AF, when used as a first-line method, was superior to medications that control rhythm.
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Market Segments
By Product Type
Electrophysiology Ablation Catheters
Electrophysiology Laboratory Devices
Electrophysiology Diagnostic Catheters
Electrophysiology Access Devices
Others
By Indication Type
Atrial Fibrillation
Atrial Flutter
Atrioventricular Nodal Reentry Tachycardia
Wolf-Parkinson-White Syndrome
Others
By End Users
Hospitals & Cardiac Centers
Ambulatory Surgery Centers
Major Players in the Global Electrophysiology Market
The key players studied in the global electrophysiology market are Abbott (US), Medtronic (Ireland), Boston Scientific Corporation (US), Koninklijke Philips N.V. (Netherlands), GE Healthcare (US), Siemens Healthcare GmbH (Germany), Stereotaxis, Inc. (US), Merit Medical Systems (US), Atricure Inc. (US), APN Health, LLC (US), Osypka Medical (Germany), Japan LifeLine Co., Ltd. (Japan), Johnson & Johnson (US), Biotronik (Germany), MicroPort Scientific Corporation (China), Acutus Medical, Inc. (US), Lepu Medical Technology (Beijing), CathRx Ltd. (Australia), Cook Medical (US), CathVision ApS (Denmark), TZ Medical (US), Teleflex Incorporated (US), Imricor (US), CardioFocus (US), Schwarzer Cardiotek GmbH (Germany), Kardium (Canada), EP Solutions SA (Switzerland), BioSig Technologies Inc. (BSGM) (US), Coremap (US), and EPMap System GmbH (Germany).
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The study aids in the evaluation of aberrant heartbeats and the examination of electrical impulses in the heart. The ability to target the regions of the heart that cause atrial fibrillation has improved because of substantial advancements in EP technology. Other cardiac arrhythmias, such as atrial flutter, Wolff-Parkinson-White Syndrome (WPW), atrioventricular nodal reentry tachycardia (AVNRT), and others, have benefited from the advancements in technology.
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