The global electrophysiology market is forecast to grow at a compound annual growth rate (CAGR) of more than 9% during the forecast period from 2021-2030.
Electrophysiology is a branch of biomedicine focused on analyzing the body's electrical activity. Electrophysiology equipment refers to instruments used to diagnose and treat heart disorders like tachycardia and atrial fibrillation.
- Electrophysiology is a relatively new market compared to all the other medical devices markets, thus driving more and more players to adopt this technology, which is forecast to grow in the near future.
- The development of improved mapping and guidance technologies has improved medical treatment and cardiac rhythm monitoring. One of the major factors driving the market growth is the growing adoption of advanced technology in electrophysiology devices.
- Healthcare facilities are implementing electrophysiology devices to treat such devices, including diagnostics, treatment, and monitoring of the heart's well-being. This feature is crucial to driving the market forward.
- A scarcity of medical experts is also a concern in the market. In addition, the cost of obtaining electrophysiological procedures is significantly higher because of these factors. Lack of coverage for these procedures slows down the market growth.
Impact Analysis of COVID-19
There has been a mixed effect of Covid-19 on the global electrophysiology market. The lockdown protocols of social distancing and others had become a significant source of market disruption. Market growth was heavily impacted by patients' avoiding hospitals and other health care facilities, which negatively impacted demand for electrophysiology devices. As a result, people with cardiac problems are more susceptible to Coronavirus infection and are more likely to experience a heart attack. Therefore, the use of electrophysiology for the diagnosis and treatment of heart-related disorders has skyrocketed, fueling market growth.
North America dominates the global electrophysiology market. It is due to a variety of factors including, an increase in heart-related medical disorders such as cardiac arrest, heart attacks, arrhythmias, and so on due to changing lifestyles and a lack of physical activity. In addition, favorable reimbursement policies have contributed to the growth of electrophysiology in this region.
The leading competitors in the global electrophysiology market are:
- Acutus Medical (U.S.)
- Acutus Medical (United States)
- Apn Health, LLC (United States)
- Biotronik (Europe)
- Boston Scientific Corporation (United States)
- CathRx Ltd (Australia)
- Cook Medical (United States)
- EPMap-System GmbH (Germany)
- Ge Healthcare (United States)
- Imricor Medical Systems (United States)
- Japan Lifeline (Japan)
- Johnson & Johnson (United States)
- Koninklijke Philips N.V. (Europe)
- Medtronic PLC (Europe)
- Merit Medical Systems (United States)
- Microport Scientific Corporation (China)
- Schwarzer Cardiotek GmbH (Germany)
- Stereotaxis (United States)
- Tz Medical (United States)
- Other Prominent Players.
Scope of the Report
The global electrophysiology market segmentation includes Product Type, Indication, End-User, and Region.
Segmentation based on Product Type
- 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
- EP Diagnostic Catheters
- Conventional EP Diagnostic Catheters
- Steerable Diagnostic Catheters
- Fixed Diagnostic Catheters
- Advanced EP Diagnostic Catheters
- Ultrasound EP Diagnostic Catheters
- Access Devices
Segmentation based on Indication
- Atrial Fibrillation (AF)
- Atrial Flutter
- Wolff-Parkinson-White Syndrome (WPW)
- Atrioventricular Nodal Reentry Tachycardia (AVNRT)
Segmentation based on End-User
- Ambulatory Surgical Centers
- Specialty and Diagnostic Centers
Segmentation based on Region
- North America
- The U.S.
- Western Europe
- The UK
- Rest of Western Europe
- Eastern Europe
- Rest of Eastern Europe
- Asia Pacific
- Australia & New Zealand
- Rest of Asia Pacific
- Middle East & Africa (MEA)
- Saudi Arabia
- South Africa
- Rest of MEA
- South America
- Rest of South America