Electrophysiology Market Size By Product (Electrophysiology Ablation Catheters {Radiofrequency, Cryoablation, Laser}, Electrophysiology Diagnostic Catheters {Conventional, Advanced, Ultrasound}, Electrophysiology Laboratory Devices), By Indication (Atrial Fibrillation, Ventricular Tachycardia, Atrial Tachycardia, Atrial Flutter, WOLFF-Parkinson-White (WPW) Syndrome, Atrioventricular Nodal Reentry Tachycardia ), Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, France, Spain, Italy, Russia, Ukraine, Poland, Switzerland, Belgium, Greece, Czech Republic, Netherlands, Sweden, China, Japan, India, Australia, South Korea, Malaysia, Indonesia, Thailand, Singapore, Taiwan, Philippines, Vietnam, Brazil, Mexico, Argentina, South Africa, Saudi Arabia, Kuwait, UAE), Application Potential, Competitive Market Share & Forecast, 2019 – 2025

Industry Trends

Electrophysiology Market size was valued at USD 4.6 billion in 2018 and is expected to witness growth of over 5.8% CAGR from 2019 to 2025.

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Growing prevalence of cardiac arrhythmias across the world will offer lucrative opportunities to the global market growth. Atrial fibrillation (AFib), a form of irregular cardiac rhythm, is widely diagnosed form of arrythmias. For instance, atrial fibrillation affects about 20,000 people in Canada. Electrophysiology assists the patients to diagnose and manage heart arrhythmias. Thus, with growing risk of developing various rhythm disorders including alcoholism, unhealthy eating habits, sedentary lifestyle and smoking, among few others, electrophysiology market growth will significantly spur over the forthcoming years.
 

Technological advancements in electrophysiology will be a major factor influencing the electrophysiology industry growth. Use of various advanced mapping and guidance systems that assists in enhanced monitoring of heart rhythm will escalate the adoption of electrophysiology devices over the coming years. For instance, in January 2019, Abbott announced approval from the U.S. FDA for its Sensor Enabled TactiCath Contact Force Ablation Catheter, for the treatment of Afib. The new product allows accurate imaging of the heart during ablation procedure. Thus, with growing cases of atrial fibrillation coupled with innovations in electrophysiology, the electrophysiology industry size will boost in the forecast period.
 

However, substantial cost of investment for electrophysiology devices may restraint its adoption rate, thereby negatively impacting the global market growth.
 

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Electrophysiology Market, By Product

Electrophysiology (EP) diagnostic catheters held USD 1.7 billion revenue size in 2018. Diagnostic EP catheters are used for mapping cardiac arrythmia and confirmation of heart rhythm abnormalities during surgical procedures. With growing incidence of atrial fibrillation, the demand for EP diagnostic catheters will considerably increase over the future years. Development of novel diagnostic catheters will further offer lucrative potential to the segment growth. For instance, in October 2014, Abbott acquired Topera, Inc., involved in the development of innovative diagnostic catheter and rotor identification system, assisting the physicians to target particular area of an individual’s heart having prolonged AFib. Among EP diagnostic catheters, advanced electrophysiology diagnostic catheters market is estimated to grow at robust pace over the analysis period.
 

Electrophysiology ablation catheters is forecast to progress at more than 6.5% CAGR over the forecast timeframe. EP ablation catheters are used to destroy small areas of the cardiovascular tissue causing irregular heart rhythm. Catheter ablation is a safe procedure with less risk associated to treat abnormal cardiac tissue in cases wherein medicine therapy is an ineffective alternative. Radiofrequency (RF) ablation catheter market accounted for significant market size in 2018 of the total EP ablation catheters market. RF ablation procedure is an effective and permanent way to eliminate several forms of arrhythmias, especially AFib, thereby leading to robust segmental growth in the upcoming years.
 

U.S. Electrophysiology Market Size, By Product, 2018 (USD Million)

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Electrophysiology Market, By Indication

Ventricular tachycardia is projected to progress at 6.4% CAGR in the forecast timeframe. Electrophysiology targets the origin of ventricular tachycardia and ablates the area of the heart that is responsible for abnormal rhythm. Ventricular tachycardia is a severe form of arrhythmia and may lead to cardiac arrest and hence requires early diagnosis. According to the American Heart Association, ventricular tachycardia causes most of the sudden cardiac deaths in the U.S., accounting for approximately 3,00,000 deaths per year. Thus, increasing incidence and growing risk factors for ventricular tachycardia will boost the segmental growth in the forthcoming years.
 

Electrophysiology market for atrial fibrillation accounted for over 73% revenue share in 2018. According to the CDC, around 2% of the population aged below 65 years and 9% aged 65 years and above suffer from atrial fibrillation in the U.S. With growing age, the risk of AFib increases; thus, expanding geriatric population holds immense market growth opportunities. Electrophysiology is an effective and safe technique for treating atrial fibrillation. Thus, with advances in the diagnosis and treatment for atrial fibrillation along with its accelerating prevalence, the segment will foresee momentous growth over the foreseeable future.
 

Electrophysiology Market, By Region

North American market accounted for USD 1,723.4 million revenue size in 2018. Growing incidence of cardiovascular diseases will augment North America electrophysiology business growth. Rising number of obese Americans, adoption of binge eating habits and lack of physical activity are few of the major contributors to the development of cardiovascular disorders such as irregular heart rhythm. Heart arrhythmias cause about 40,000 deaths per year in Canada, thereby escalating the adoption of electrophysiology and ablation devices in the region. Moreover, presence of numerous leading firms, especially in the U.S. will further lead to rapid growth of North America electrophysiology industry over the future years.
 

India electrophysiology market will grow at fast pace of 7.1% CAGR over the estimation period. High growth can be attributed to increasing cardiovascular disease prevalence coupled with expanding geriatric population. According to the United Nations Population Fund (UNFPA), the elderly population is estimated to rise from 8.6% in 2011 to 19% of the total population by 2050. Older people tend to suffer from various cardiac disorders that may be life-threatening and hence efficient diagnosis through proper diagnostic aid such as electrophysiology, is necessary. Additionally, emergence of numerous electrophysiology clinics and Cath labs across the country will augment India electrophysiology industry over the coming years.

Europe Electrophysiology Market Size, By Country, 2025 (USD Million)

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Competitive Market Share

Abbott, Johnson & Johnson, Boston Scientific Corporation, Medtronic plc and Siemens Healthineers, among the other players are few of the notable companies operating in the global electrophysiology business. Leading firms are concentrating on new product introduction and strategic alliances to earn higher profits in the electrophysiology market.
 

Recent industry developments:

• In May 2019, Acutus Medical announced about its acquisition agreement with Rhythm Xience, Inc. as well as about its partnership with MedFact, Cardiac Designs and Peerbridge Health. The acquisition was aimed at expanding its product offerings in treatment of arrhythmias by gaining access to introducer sheaths and transseptal crossing device. The partnerships were aimed at fortifying the company’s products in robotic ablation catheters.
   
• In June 2019, Abbott announced the introduction of its HD grid mapping catheter that is sensor-enabled, in India. The enhanced mapping system improves ablation procedure, thus assisting the firm to strengthen its customer base throughout India.  
   

Electrophysiology Industry Background

During the 1900-1950s, a string galvanometer was developed to locate cardiac arrhythmias which was followed by use of the pioneer catheter imaging device to view cardiac anatomy. In 1970s, two-dimensional images of heart were generated through an ultrasound, later leading to the advent of combined mapping and navigation systems. In 1997, CARTO electroanatomical mapping system was introduced followed by LocaLisa 3D and EnSite mapping systems in 1999. After several subsequent advancements, The RHYTHMIA Mapping System, HD 64-electode catheter with three-dimensional ultra-high-density mapping capacity and an algorithm, automating signal capture, was developed by Boston Scientific Corporation in 2012, that received regulatory clearance across Europe and the U.S. in 2013. Continuous developments in such mapping systems lead to few more launches of novel technologies along with the introduction of navigation-enabled ablation catheters during the recent years.
 

Firms are now focusing on the development and partnerships with companies manufacturing robotic ablation devices as well as on innovative electrophysiology devices. Such advancements coupled with expansion of electrophysiology clinics in developing countries will offer attractive opportunities to electrophysiology industry growth over the foreseeable future.