Electrophysiology Market worth over $10bn by 2026

Electrophysiology Market size is set to surpass USD 10 billion by 2026, according to a new research report by Global Market Insights, Inc.
 

Increasing number of cases of cardiac arrhythmias worldwide owing to acceptance of unhealthy lifestyle will augment the market growth during the forecast period. Adoption of technological advanced products for better treatment procedure and growing research and development funding will escalate the demand for electrophysiology products in the market.

 

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The overall rise in the burden of cardiac disorders on the government has compelled the government to take necessary measures to comply with the rising prevalence of the target disease. According to a research, between 1990 and 2020, coronary heart disease has increased up to 120 percent in females and around 137 percent in males. Such high incidence of cardiac disorders will increase demand for electrophysiology procedures. Furthermore, ongoing research activities to develop EP products and various initiatives by the government to reduce disease burden will drive the market expansion.
 

Skilled workforce and expanding cardiac facilities will increase the product demand

EP laboratory devices segment held more than 15% of the electrophysiology market share in 2019. With growing number of arrythmias, the demand for electrophysiology is expected to increase over the coming years. Electrophysiology procedures are carried out in electrophysiology laboratories comprising of X-ray systems, 3D mapping systems, recording screens and remote steering systems among others. Numerous hospitals and independent physicians are expanding in this space, thereby offering growth potential to EP laboratory devices. Moreover, technological advancements in the EP laboratory devices will further foster the segment growth.
 

Browse key industry insights spread across 220 pages with 547 market data tables & 13 figures & charts from the report, 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 Re-entry Tachycardia), By End-use (Hospitals, Catheterization Laboratories/EP Laboratories, Ambulatory Surgical Centers), Industry Analysis Report, Regional Outlook, Application Potential, Price Trends, Competitive Market Share & Forecast, 2020 – 2026” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/electrophysiology-market
 

Significant rise in atrial fibrillation cases will impel the use of electrophysiology in the market

Atrial fibrillation will showcase growth rate of 10.2% till 2026. Atrial fibrillation is the most common type of cardiac arrythmia caused by irregular heartbeats. According to World Health Organization (WHO), more than 8% of the population aged over 80 years suffers from atrial fibrillation. Growing risk of obesity and high blood pressure led by sedentary lifestyle are main key factors responsible for significant growth in AF worldwide. Thus, with surging AF incidence and prevalence, the demand for EP procedures will increase in the forecast timeframe.  
 

Rapidly improving infrastructure of the cardiology department in hospitals will offer growth opportunities to electrophysiology market

Hospitals end-use segment dominated more than 68% of market share in 2019. Presence of sophisticated infrastructure to conduct ablation procedures with latest and advanced EP devices in hospitals due to better buying capacity attracts larger patient pool. In addition, hospitals in emerging economies are introducing and expanding in electrophysiology field that will enhance the segment expansion during the forecast timeline.
 

Entry of major market players in the APAC region and adoption of innovative products will spur regional growth

Asia Pacific electrophysiology market accounted for over 20% of revenue share in 2019 propelled by increasing geriatric population pool coupled with growing prevalence of cardiovascular disorders. Penetration of market leaders in the region including Microport Scientific Corporation, Abbott, Biotronik SE & Co. KG, and Johnson and Johnson among several others coupled with growing research and development funding will further fuel the market value during the forecast period.
 

Geographical expansion and new product development will provide substantial growth to market participants

Some of the notable companies involved in the electrophysiology market are Abbott Laboratories, Boston Scientific Corporation, GE Healthcare, Medtronic Plc., and Johnson & Johnson among other players. These industry leaders have undertaken few strategies such as product development, collaborations and partnerships to expand their market foothold.
 

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