According to the current analysis of Reports and Data, the global Electrophysiology Devices market was valued at USD 6,738.2 Million in 2020 and is expected to reach USD 13.21 Billion by the year 2028, at a CAGR of 8.70%. Electrophysiology (EP) is immensely popular due to its efficacy in terms of controlling and treating arrhythmia. Arrhythmia continues to be one of the significant cardiac disorders, preceded by sudden cardiac death (SCD), accounting for approximately 15-20% of total deaths. Electrophysiology devices are forcing their way through entrenched preferences for conventional methods to treat cardiac arrhythmia. According to WHO, cardiovascular diseases caused 17.5 million deaths globally in 2012. It became the leading cause of non -communicable disease (NCD) deaths. Electrophysiology devices are cardiology specialty devices used primarily in the diagnosis and treatment of cardiac arrhythmias. Thus, the growing prevalence of cardiovascular diseases is expected to boost Electrophysiology Devices market growth. The rising number of sudden cardiac arrest cases is a big threat to the American population. Rising use of defibrillators has proved helpful to reduce the death rates among patients suffering from cardiac arrest outside hospitals.
Introduction of new technologies such as Cryoablation, laser ablation, and ultrasound ablation and advanced mapping technologies are also likely to boost the demand for the Electrophysiology Devices market. Increasing accessibility to healthcare facilities, rising medical tourism, and the increasing incidences of heart failure cases are expected to augment market demand in emerging economies. But, high costs associated with Electrophysiology Devices, presence of strict regulations, and availability of alternative therapies are restraining market growth.
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Further key findings from the report suggest
- The cryoablation segment is anticipated to grow at a CAGR of xx % during the forecast period
- Electrophysiology (EP) technology has been advancing rapidly with new ablation tools to improve atrial fibrillation (AF) treatments, miniaturized diagnostic monitoring systems, and new implantable rhythm management devices that are making procedures much less invasive. Leadless Pacemakers, Wireless CRT, subcutaneous ICDs, new electro mapping systems, ultrasound guidance in Electrophysiology labs
- The radiofrequency and cryoablation are the most widely used Electrophysiology ablation catheters
- Asia-Pacific is a densely-populated region, with India and China being the most populated countries. Emerging economies, such as India and China, provide attractive growth opportunities for electrophysiological device manufacturers. The growth is augmented by the surge in demand for advanced electrophysiology devices, an improvement of healthcare reforms, high prevalence of cardiac arrhythmias, and increased focus of key players for developing technologically advanced cost-effective electrophysiology devices in this region. However, the unfavorable reimbursement scenario for electrophysiology devices, low awareness among physicians and patients about different electrophysiology devices, and high cost of these devices are likely to impede the electrophysiology devices market growth in these countries. In Japan, the atrial fibrillation rate among geriatric population is 2-3%. With the rise in ageing population, it is estimated that atrial fibrillation will affect about one million people by 2050, thereby driving the electrophysiology devices market growth.
- Advances in the electrophysiology (EP) devices landscape has paced up in recent years. One such trend in the electrophysiology devices market is the introduction of leadless pacemakers. Leadless pacemakers serve as viable alternatives to the conventional variants, especially in case of patients who have a history of device infections. Traditional pacemakers are emerging as a major area of concern, as they are associated with a substantial risk of morbidity. This is laying a strong foundation for a faster adoption of leadless pacemakers.
- The global Electrophysiology Devices market is highly fragmented with major players like Abbott Laboratories (U.S.), Bio sense Webster, Inc. (U.S.), BIOTRONIK SE & Co. KG (Germany), Boston Scientific Corporation (U.S.), GE Healthcare among others that collectively constitute a competitive market
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Segments covered in the report
This report forecasts revenue growth at a global, regional & country level, and provides an analysis of the market trends in each of the sub-segments from 2016 to 2026. For the purpose of this study, Reports and Data have segmented the Electrophysiology devices market on the basis of product, indication application and region:
Product (Revenue in Million USD; 2018–2028)
- EP Ablation Catheters
- Cryoablation EP Catheters
- Radiofrequency Ablation Catheters
- Irrigated-tip Radiofrequency Ablation Catheters
- Conventional Radiofrequency Ablation Catheters
- Microwave Ablation Systems
- Laser Ablation Systems
- Navigational Advanced Mapping Accessories
- EP Laboratory Devices
- EP X-Ray Systems
- 3D Mapping Systems
- EP Recording Systems
- EP Remote Steering Systems
- Others
- EP Diagnostic Catheters
- Conventional EP Diagnostic Catheters
- Steerable Diagnostic Catheters
- Fixed Diagnostic Catheters
- Advanced EP Diagnostic Catheters
- Ultrasound EP Diagnostic Catheters
- Access Devices
- Others
Indication (Revenue in Million USD; 2018–2028)
- Atrial Fibrillation (AF)
- Atrial Flutter
- Wolff-Parkinson-White Syndrome (WPW)
- Atrioventricular Nodal Reentry Tachycardia (AVNRT)
- Right Atrial Tachycardia
- Right Atrial Flutter
- Left Atrial Flutter
- Right Ventricular Tachycardia
- Left Ventricular Tachycardia
Regional Outlook (Revenue in Million USD; 2018–2028)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- UK
- Spain
- Benelux
- Italy
- Rest of the Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Taiwan
- Australia
- Rest of Asia-Pacific
- Middle East & Africa
- Saudi Arabia
- South Africa
- Egypt
- Israel
- Rest of MEA
- Latin America
- Brazil
- Argentina
- Rest of Latin America
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