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Electrophysiology Market Size By Product (EP Ablation Catheters {Radiofrequency, Cryoablation, Laser}, EP Diagnostic Catheters {Conventional, Advanced, Ultrasound}, EP Laboratory Devices {Mapping Systems, Recording Systems}), By Indication (Atrial Fibrillation, Ventricular Tachycardia, Atrial Tachycardia, Atrial Flutter, WOLFF-Parkinson-White (WPW) Syndrome, Atrioventricular Nodal Reentry Tachycardia), By End-use (Hospitals, Catheterization Laboratories/EP Laboratories, Ambulatory Surgical Centers), Industry Analysis Report, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2023 – 2032

  • Report ID: GMI2968
  • Published Date: Nov 2022
  • Report Format: PDF

Industry Overview

Electrophysiology Market size was worth more than USD 5.5 billion in 2022 and is anticipated to witness a 12% CAGR from 2023-2032.
 

Rising incidences of atrial fibrillation are expected to positively influence the electrophysiology industry landscape. Atrial fibrillation (AF) is one of the most prevalent types of cardiac arrhythmia that contributes to substantial economic and healthcare burdens. Over the last decade, incidences of AF have increased exponentially in western countries due to the high prevalence of obesity, faltered lifestyle, and smoking habits.
 

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According to the Centers for Disease Control and Prevention (CDC), more than 454,000 cases of AF are reported by hospitals in the U.S. annually. Additionally, around 158,000 individuals succumb to AF every year. High risk of cardiac diseases owing to poor dietary lifestyle habits will propel the need for electrophysiology (EP) treatment.
 

High capital investment required for developing electrophysiology devices will be a key restraining factor for the market players. In order to perform high-end and accurate procedures, EP laboratories must deploy specialized devices which are very expensive. Additionally, the end-users are also forced to incur extra expenses in configuration and software integration, which increases the time for return on investment (ROI).
 

Integration of AI and robotics to introduce high-end EP laboratory devices

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Electrophysiology market from EP laboratory devices is estimated to reach USD 2.2 billion by 2032. Rising prevalence of heart conditions such as cardiac arrhythmias will accelerate the need for advanced diagnostic solutions and cardiac devices. EP laboratories provide access to a wide variety of devices including implantable cardioverter defibrillators (ICD), ablation technologies, pacemakers, and cardiac resynchronization therapy (CRT). Rapid integration of next-generation technologies such as AI and robotics to improve heart arrhythmias treatment will offer lucrative scope for the development of novel EP laboratory devices.
 

Rising incidences of ventricular tachycardia to propel the demand for EP tests

Electrophysiology market share from ventricular tachycardia (VT) indication segment is projected to expand at over 13% CAGR from 2023-2032. According to the American Heart Association (AHA), Ventricular tachycardia (VT) accounts for most sudden cardiac deaths in the U.S., resulting in approximately 3 million deaths annually. It can be detected with the help of a diverse range of methods such as magnetic source imaging, electrocardiogram, and Holter monitoring. An EP test can help identify any irregularities in heart rhythms with the help of cardiac mapping. Increasing cases of VT in developed countries will drive the need for EP procedures.
 

Hospitals embracing minimally invasive cardiac care trends with advanced EP programs

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Hospitals segment accounted for more than 70% share of the electrophysiology market in 2022. Rapidly escalating hospitalization rates will fuel the need for faster and more accurate diagnostic tools. AHA reported over 33.3 million hospital admissions in the U.S. including a robust number of patients suffering from cardiac disorders. Growing efforts by healthcare facilities and hospitals to acquire the latest medical technologies and state-of-the-art treatment will have a positive impact on the EP industry dynamics.
 

Large patient pool across Europe to complement market outlook

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Europe electrophysiology market is poised to reach USD 5.4 billion by 2032. Over the last few years, European countries such as France, Denmark, Belgium, Sweden, Netherlands, and Ireland have witnessed a natural increase in population along with positive net migration. Rising prevalence of obesity, cardiac disorders, and trauma has fueled the need for interventional EP procedures. According to data from the British Heart Foundation (BHF), coronary heart disease (CHD) is one of the leading causes of death in the UK. CHD-related deaths are highest in Scotland and England, indicating a substantial need for cardiac treatment.
 

Product innovation to augment market statistics

Some of the leading companies in the global electrophysiology market are GE Healthcare, Medtronic, Abbott Laboratories, Biotronik SE & Co. KG, Boston Scientific Corporation, Japan Lifeline, Koninklijke Philips, Microport Scientific Corporation, Magnetecs Corporation, Johnson & Johnson, Siemens AG, and Stereotaxis.
 

Impact of COVID-19 pandemic on electrophysiology market trends

The COVID-19 pandemic had a slightly negative effect on the electrophysiology industry. The outbreak affected the health of millions of people worldwide resulting in an unprecedented mortality rate. Growing concerns associated with the spread of infection hampered the performance of healthcare facilities. Several hospitals put a hold on non-emergency surgeries and admission of non-COVID-19 patients.
 

According to data from the European Society of Cardiology, the number of patients seeking cardiac care dropped by more than 50% during the initial phase of the pandemic. However, in the later pandemic stage, several companies implemented rigorous initiatives to design novel mapping systems as electrophysiology procedures resumed to address the growing patient pool.
 

The electrophysiology market report includes an in-depth coverage of the industry with estimates & forecast in terms of revenue in USD from 2018 to 2032, for the following segments:

By Product

  • EP Ablation Catheters
    • Radiofrequency (RF)
    • Cryoablation
    • Laser
    • Others
  • EP Diagnostic Catheters
    • Conventional
    • Advanced
    • Ultrasound
  • EP Laboratory Devices
    • Mapping Systems
    • Recording Systems
    • Others

By Indication

  • Atrial Fibrillation
  • Ventricular Tachycardia
  • Atrial Tachycardia
  • Atrial Flutter
  • WOLFF-Parkinson-White (WPW) Syndrome
  • Atrioventricular Nodal Reentry Tachycardia

By End-use

  • Hospitals
  • Catheterization/EP Laboratories
  • Ambulatory Surgical Centers
  • Others

The above information is provided for the following regions and countries:

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • UK
    • France
    • Spain
    • Italy
    • Russia
    • Ukraine
    • Poland
    • Switzerland
    • Belgium
    • Greece
    • Czech Republic
    • The Netherlands
    • Sweden
    • Others
  • Asia Pacific
    • China
    • Japan
    • India
    • Australia
    • South Korea
    • Malaysia
    • Thailand
    • Indonesia
    • Singapore
    • Taiwan
    • Philippines
    • Vietnam
    • Others
  • Latin America
    • Brazil
    • Mexico
    • Argentina
    • Others
  • Middle East & Africa
    • South Africa
    • Saudi Arabia
    • Kuwait
    • UAE
    • Others

 

Authors: Sumant Ugalmugle, Rupali Swain

Frequently Asked Questions (FAQ) :

Global market size for electrophysiology was worth more than USD 5.5 billion in 2022 and is expected to witness a 12% CAGR from 2023-2032.
Ventricular tachycardia is anticipated to exhibit over 13% CAGR between 2023-2032 due to the increasing use of EP to detect heart rhythm anomalies.
Europe electrophysiology market is poised to reach over USD 5 billion by the end of 2032 owing to the rising prevalence of coronary heart diseases in the UK.
GE Healthcare, Medtronic, Japan Lifeline, Koninklijke Philips, Magnetecs Corporation, Siemens AG, and Stereotaxis are some of the leading manufacturers of electrophysiology devices.

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Premium Report Details

  • Base Year: 2022
  • Companies covered: 12
  • Tables & Figures: 572
  • Countries covered: 34
  • Pages: 277
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