Electrophysiology Market to expand at a healthy 10.6% CAGR from 2020 to 2030

Posted by omkar on October 24th, 2019

The Global Electrophysiology Market held USD 5.20 billion in 2019 and is predicted to reach USD 15.75 billion by 2030 with a CAGR of 10.6% from 2020-2030. Electrophysiology (EP) is the assessment of electrical impulses of the heart. It helps to evaluate abnormal heartbeats. The fast increase in the aging population is accountable for increasing heart failure rates. The significant advancement in the EP technologies have improved the ability to target the areas of the heart perpetuating that leads to atrial fibrillation (AF).

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Market Dynamics and Trends

The improving and modernizing healthcare infrastructure as well as huge burden of target diseases in developing nations has proliferated the electrophysiology market trend. Furthermore, the number of ablation procedures for the treatment of atrial fibrillation will increase the electrophysiology market size.

The factors including increasing prevalence of target diseases, technological advancements in the field of electrophysiology, and increasing demand for catheter ablation procedures has majorly driven the electrophysiologymarket. Further, increasing preference of EP catheter ablation for cardiac arrhythmia treatment. However, high cost of the EP device and dearth of skilled electrophysiologists may limit the growth of the electrophysiology market share. The lucrative opportunities in emerging economies and rising awareness regarding the EP technologies will create new opportunities for the market growth in future.

Market Segmentation and Scope of the Study

The electrophysiology market is segmented on the basis of product, target disease, and geography.On the basis of product, the market is segmented into ablation catheters, diagnostic catheters, laboratory devices, access devices, and others.The ablation catheters is sub segmented into cryoablationEP catheters, radiofrequency ablation catheters, microwave ablation systems, laser ablation systems, and others. The laboratory devices segment is further divided into EP x-ray systems, 3D mapping systems, EP recording systems, EP remote steering systems, and others. The diagnostic catheterssegment is further sub segmented into conventional EP diagnostic catheters, advanced EP diagnostic catheters, and ultrasound EP diagnostic catheters. On the basis of target disease, the market is divided intoatrial fibrillation, atrioventricular nodal reentry tachycardia, atrial flutter, wolff-parkinson-white syndrome, and other. Geographic breakdown and analysis of each of the aforesaid segments includes regions comprising North America, Europe, Asia-Pacific, and RoW.

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Comprehensive competitive analysis and profiles of the major market players such as Siemens AG, Medtronic plc,St. Jude Medical, Inc., Biosense Webster, Inc., Philips Healthcare, Biotronik SE & Co.KG, Boston Scientific Corporation, GE Healthcare, Microport Scientific Corporation, Abbott Laboratories, and others are provided in the electrophysiology market report.