Electrophysiology Devices Market Size To Reach USD 18.52 Bn By 2032

The global electrophysiology devices market reached US$ 6.91 billion in 2022 and is expected to be worth around US$ 18.52 billion by 2032, growing at a CAGR of 10.40% during the forecast period 2023 to 2032.

Key Takeaways

  • North America led the market with the biggest market share in 2022.
  • Asia Pacific is estimated to expand at the fastest CAGR during the forecast period.
  • By Indication, the atrial fibrillation segment registered the maximum market share in 2022.
  • By Application, the diagnostic devices segment has held a major revenue share in 2022.

Electrophysiology Devices Market Size 2023 to 2032

The Electrophysiology (EP) study aids in the assessment of electrical impulses of the heart as well as to evaluate abnormal heartbeats. In addition, the prominent advancement in the electrophysiology technologies has improved the ability to focus the areas of the heart perpetuating that causes to atrial fibrillation (AF). The increasing development has enhanced the treatment and diagnosis of other cardiac arrhythmias too that include atrioventricular nodal reentry tachycardia (AVNRT), Wolff-Parkinson-White Syndrome (WPW), atrial flutter, and others.

Get the Sample Pages of Report for More Understanding@ https://www.precedenceresearch.com/sample/1100

Growth Factors

As the prevalence of cardiac arrhythmia is constantly increasing on the global level, electrophysiology devices accounted for substantial recognition in the forthcoming years. Distinctive modalities of electrophysiology devices that include cardiac magnetic resonance imaging (CMR), cardiac computerized tomography (CT), echocardiography, fluoroscopy, and electro-anatomic mapping; support healthcare professionals to prodigiously analyze the principal mechanisms of multiple cases of arrhythmia.

In addition, worldwide penetration of electrophysiology devices is likely to encounter a tectonic upshift by the year 2027 because of remarkable technological disruption in the healthcare industry. The strategic expansion plans of market participants remains aligned toward matured markets that are already consolidated by the significant presence of large companies. While matured markets will continue to provide substantial revenue-generating opportunities for aspiring brands in the global electrophysiology devices market, evolving markets are likely to promise alluring opportunities for these brands to increase their sales revenues.

Report Scope of the Electrophysiology Devices Market

Report Highlights Details
Market Size USD 18.52 Billion by 2032
Growth Rate CAGR of 10.40% from 2023 to 2032
Largest Market North America
Fastest Growing Market Asia Pacific
Base Year 2022
Forecast Period 2023 to 2032
Segments Covered Indication, Application, End User, Region

Report Highlights

  • North America dominated the global market in the year 2019 owing to technological advancements in the healthcare industry along with favorable government support
  • The Asia Pacific exhibits the fastest growth over the forecast period owing to significant presence of untapped opportunities in reference to unmet medical requirements along with rapid growth in the incidence rates of target diseases
  • Atrial fibrillation leads the indication segment in the global electrophysiology devices market for the year 2019.
  • Diagnostic devices application segment accounted for the largest value share in 2019 attributed to significant application of cardiac monitors as a standard monitoring and diagnostic tool for arrhythmias
  • The electrophysiology treatment devices segment offers lucrative growth opportunity in the coming years. Pacemakers emerged as the largest sub-segment in the year 2019.
  • Based on end-use, hospitals led the global market in 2019 owing to rising Adoption of technologically advanced cardiac rhythm management and electrophysiological procedure devices

Regional Snapshots

In 2019, North America led the global electrophysiology devices market owing to unhealthy lifestyle oriented such as smoking and excessive alcohol consumption leads to increased rate of cardiac arrest cases, Heart Failure (HF), and cardiac arrhythmia. Presence of sophisticated healthcare infrastructure and favorable policies for reimbursement propels the growth of electrophysiology devices in the region.

On the other side, the electrophysiology market in the Asia Pacific, particularly in Japan, China, and India expected to register high growth in the forthcoming years. India and China are the most lucrative regions compared to other Asian countries because of rapidly changing eating habits and lifestyles, increasing stress, fast adoption of western culture, and habitual drinking and smoking in these countries have resulted in the increasing health-related problems that include heart disease, obesity, and other chronic diseases.

Factors such as increasing geriatric population, large population, rising healthcare spending, growing incidence of chronic diseases, rising emphasis of prominent players on emerging markets, increasing demand for advanced technologies, healthcare reforms for infrastructural development, and less stringent regulations related to consumption of alcohol and other disease triggering products fuel the demand for electrophysiology devices in this region.

Read Alos: Medical Waste Management Market Size to Attain US$ 22.34 Bn by 2032

Key Players & Strategies

The global electrophysiology devices market is highly competitive with increased focus of market players on new product development along with extensive investment on Research & Development (R&D) as a part of sustainability strategy. These industry participants also follow inorganic growth strategies to establish a strong footprint in the market coupled with extended range of product portfolio, thereby enhancing their brand recognition. For instance, in July 2018, Boston Scientific Corporation acquired Cryterion Medical, Inc., a privately held firm focused developing treatment for atrial fibrillation (AF) using its single-shot cryoablation platform. The acquisition helped the company to have a diverse product portfolio for electrophysiology devices.

Similarly, in November 2018, Boston Scientific Corporation acquired BTG plc, a UK based company that involved in the commercialization and development of minimally invasive surgical (MIS) products for vascular diseases and cancer.

Various of the renowned participants in the electrophysiology devices market include:

  • Medtronic Plc
  • Abbot Laboratories
  • Boston Scientific Corporation
  • Biotronik SE & CO. KG
  • Biosense Webster, Inc.
  • Nihon Kohden Corporation
  • GE Healthcare
  • Microport Scientific Corporation
  • Siemens AG
  • Koninklijke Philips N.V.

Segments Covered in the Report

By Indication

  • Atrial Fibrillation (AF)
  • Atrioventricular Nodal Re-entry Tachycardia (AVNRT)
  • Supraventricular Tachycardia
  • Bradycardia
  • Wolff-Parkinson-White Syndrome (WPW)
  • Others

By Application

  • Diagnostic Devices
    • Diagnostic Electrophysiology Catheters
    • Holter Monitoring Devices
    • EP Mapping & Imaging Systems
    • Electrocardiograph (ECG)
    • Insertable Cardiac Monitors (ICM)
    • Others
  • Treatment Devices
    • Automated external defibrillators (AEDs)
    • Implantable Cardioverter Defibrillators (ICDs)
    • CRT-D
    • CRT-P
    • Catheters
    • Pacemakers
    • Others

By End-User

  • Ambulatory Surgical Centers
  • Hospitals
  • Others

By Regional Outlook

  • North America
    • U.S.
    • Canada
  • Europe
    • U.K.
    • Germany
    • France
  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
  • Rest of the World

Contact Us:

Mr. Alex

Sales Manager

Call: +1 9197 992 333

Email: sales@precedenceresearch.com

Web: https://www.precedenceresearch.com

Blog: https://www.expresswebwire.com/

Blog: https://www.uswebwire.com/

Blog: https://www.dailytechbulletin.com/

Blog: https://www.autoindustrybulletin.com/

Leave a Reply

Your email address will not be published. Required fields are marked *