Electrophysiology Devices Market 2023 With Top Key Players is thriving worldwide by 2032

"Electrophysiology Devices Market Share, Size, Trends, Industry Analysis Report, By Application (Treatment, Diagnostic); By Indication (AF, SVT, AVNRT, WPW); By End-Use (Hospitals, ASCs); By Region; Segment Forecast, 2022 - 2030" published by Polaris Market Research in its research repository.

"According to the latest research study, the demand of global Electrophysiology Devices Market size & share expected to reach to USD 13.98 Billion by 2030 from USD 5.54 billion in 2021, at a compound annual growth rate (CAGR) of 10.8% during the forecast period 2022 to 2030"

Global Electrophysiology Devices Market: Overview

Electrophysiology is a test used to study the heart's electrical system.  The test involves the insertion of catheters and then wire electrodes to access electric activity through blood vessels that enter the heart. Electrophysiology devices are used in a hospital by cardiologists to diagnose abnormal heartbeats or arrhythmia. They are enhancing the diagnosis and treatment capabilities of healthcare professionals across the globe.

The EP devices help to determine the cause of irregular heart rhythms. Items like ablation catheters, 3D mapping systems, cardiac stimulators, RF generators, and access devices are available in EP-oriented labs, hospitals, or cardiac centers. Factors such as the increasing rising number of cardiovascular patients, growing initiatives for disease awareness, and the increase in the elderly population in many developing countries are driving the electrophysiology devices market size.

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• Includes Updated List of table & figures
• Updated Report Includes Top Market Players with their Business Strategy, Sales Volume, and Revenue Analysis

Electrophysiology Devices Market Report Highlights

• In 2021, the diagnostic devices segment had the largest share. The demand for portable digital systems and catheters for the diagnosis of cardiac problems, and increasing technical advancement, are the main factors driving the growth of the diagnostic device segment.
• Based on the indication, the market worldwide was led by atrial fibrillation. The increased use of advanced EP systems for atrial fibrillation diagnosis and treatment has fueled this industry expansion.
• The diagnostic devices segment held the largest market share. This is due to the increased use of cardiac monitors for arrhythmia monitoring, technological development, and the increasing demand for portable digital systems and catheters for the diagnosis of cardiac diseases.
• The hospital segment accounted for the largest share. Heart failure, cardiac arrhythmias, and stroke procedures performed in hospitals have increased, which has increased sales of electrophysiology devices.

Some of the Top Market Players Are:

• Abbott
• Acutus Medical Inc.
• Angio Dynamics
• AtriCure Inc.
• Biosense Webster (Johnson & Johnson Services Inc.)
• Biotronik Inc
• CardioFocus Inc.
• General Electric Company
• F. Siemens AG
• Koninklijke Philips N.V.
• MicroPortScientific Corporation
• Medtronic
• Nihon Kohden Corporation
• Siemens Healthcare AG
• Stereotaxis Inc

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Growth Driving Factors

• Increasing technological development to flourish the market growth

A surge in the use of Electrophysiology (EP) tests in the treatment and diagnosis of heart diseases, such as atrial fibrillation, is majorly fueling the demand for electrophysiology devices market demand. Rising demand for these devices for cardiac rhythm management is propelling the electrophysiology devices industry expansion. The market is also enhancing owing to modern lifestyles, smoking, and too much alcohol consumption, which has led to an increase in the prevalence of heart failure, cardiac arrest, and atrial fibrillation among youth. As per a CDC report, around 12.1 million Americans are expected to suffer from atrial fibrillation by 2030.

Moreover, the rising technological developments like implantable cardioverter defibrillators, lipid bilayer recording, current-clamp recording, voltage-clamp recording, trans epithelial recording, and single- and multi-unit extracellular recording are anticipated to support the market over the forecast period. Increasing investments by leading government organizations in healthcare facilities across the globe is another key factor positively influencing industry growth. In addition, a surge in awareness of the advantages of electrophysiology devices further boosts the electrophysiology devices market growth.

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Recent Developments

• In January 2022, Pharmaceutical company Abbott Laboratories announced that the EnSite X Electrophysiology system with EnSite omnipolar technology had received US Food and Drug Administration (USFDA) clearance for the treatment of individuals with atrial fibrillation.

Segmental Analysis

• The diagnostic devices segment held the largest market share

Based on application, the diagnostic device segment dominates the market owing to the rising use of cardiac monitors for arrhythmia monitoring and growing technological developments. Increasing requirements for portable digital systems and catheters for the treatment and diagnosis of cardiac issues are driving the segment growth of the electrophysiology devices market. Also, the rising adoption of ambulatory monitoring equipment for arrhythmias is contributing to the segmental expansion.

• The atrial fibrillation segment witnessed the biggest revenue share in 2021

By indication, the atrial fibrillation segment accounted for the largest electrophysiology devices market share. This is because atrial fibrillation is the most frequent arrhythmia that increases the risk of blood clotting and stroke. Atrial fibrillation is often undiagnosed during clinical practices due to the lack of conventional monitoring systems. This causes insufficient treatment for people with critical conditions. The growing use of advanced electrophysiology devices for the treatment and diagnosis of atrial fibrillation is propelling market growth.

• The hospital segment captured the largest share in 2021

In terms of end-user, the hospitals category accounted for the largest revenue share owing to a surge in the utilization of advanced cardiac rhythm management and electrophysiological test. The increased number of hospital operations for heart failure, cardiac arrhythmias, and stroke has fueled the sales of EP devices. EP is used to analyze irregular heartbeats and to assist healthcare professionals to treat such irregular heartbeats.

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Global Electrophysiology Devices Market: Report Scope

Geographic Overview

• North America witnessed the greatest market share in 2021

On the basis of geography, electrophysiology devices market demand in North America acquired the highest revenue share due to the rising cases of heart failure (HF) and cardiac arrhythmia due to the sedentary lifestyle, excessive alcohol consumption, and smoking.

Furthermore, Asia Pacific is anticipated to register the fastest growth. This share growth can be attributed to the growing aging population, surging risk of cardiac diseases, and unmet clinical needs. In addition, a growing development of the healthcare infrastructure coupled with a rising disposable income in developing countries such as India and China is expected to boost regional market growth.

Browse the Detail Report "Electrophysiology Devices Market Share, Size, Trends, Industry Analysis Report, By Application (Treatment, Diagnostic); By Indication (AF, SVT, AVNRT, WPW); By End-Use (Hospitals, ASCs); By Region; Segment Forecast, 2022 - 2030" with in-depth TOC: https://www.polarismarketresearch.com/industry-analysis/electrophysiology-devices-market  

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Polaris Market Research has segmented the electrophysiology devices market report based on application, indication, end-use, and region:

By Application Outlook

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

By Indication Outlook

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

By End-Use Outlook

• Hospitals
• Ambulatory Surgical Centres
• Others

By Region Outlook

• North America (U.S., Canada)
• Europe (France, Germany, UK, Italy, Netherlands, Spain, Russia)
• Asia Pacific (Japan, China, India, Malaysia, Indonesia, South Korea)
• Latin America (Brazil, Mexico, Argentina)
• Middle East & Africa (Saudi Arabia, UAE, Israel, South Africa)

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