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Electrophysiology (EP) Market worth over $10bn by 2027

  • Published Date: October 18, 2021

Electrophysiology Market size is set to surpass USD 10 billion by 2027, according to a new research report by Global Market Insights Inc.

Growing prevalence rate of cardiac arrhythmia and heart failure among population will augment the market growth. Increasing incidence of cardiovascular diseases are owing to smoking, alcohol consumption, unhealthy lifestyle, hyperthyroidism, obesity and stress among population. Moreover, high adoption of catheter ablation procedures in diagnosis and treatment of cardiac arrhythmias for enhanced accuracy will impel the market expansion in the coming years.

Continuous technological advancements with innovative applications in electrophysiology will drive market progression opportunities

Strong presence of companies in the electrophysiology market will create the growth opportunities. Continuous development of advanced technologies and   product launches will be expand market offerings. Furthermore, continuous innovations in applications of electrophysiology such as cardiac computerized tomography (CT), cardiac magnetic resonance imaging (CMR), electro-anatomic mapping, echocardiography and fluoroscopy among others will boost the product demand. Additionally, high acceptance of such equipment for diagnosis and treatment of several cardiovascular diseases including cardiac arrhythmia along with several others will accelerate the industry growth.  

High acceptance of advanced diagnostic tools offering enhanced precision and accuracy will fortify the segment growth

EP diagnostic catheters segment held 35% of the market share in 2020 led by the high use of electrophysiology devices for diagnostic and monitoring cardiac conditions with growing patient pool. Furthermore, continuous development of diagnostic tools with several technological advancements including Electrocardiograph (ECG) monitors, fixed and steerable diagnostic catheters and insertable cardiac monitors (ICM) will enhance the demand.

Browse key industry insights spread 547 pages with 277 market data tables & 14 figures & charts from the report, Electrophysiology Market Size By Product (EP Ablation Catheters {Radiofrequency (RF), 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/EP Laboratories, Ambulatory Surgical Centers), COVID-19 Impact Analysis, Regional Outlook, Application Potential, Price Trends, Competitive Market Share & Forecast, 2021 – 2027 in detail along with the table of contents:

Rise in ablation procedures for numerous cardiac diseases will boost the product adoption rate

Atrioventricular nodal re-entry tachycardia in the electrophysiology market is projected to witness 11.1% CAGR through 2027. Growing incidence of ANVRT cases worldwide and increasing usage of advanced diagnostic tools will stimulate procedure trend and thereby influence product demand. Further, high acceptance of cryoablation procedures in treatment of atrioventricular nodal reentry tachycardia will offer growth opportunities to the segment during the forecast timeframe.

Improving healthcare infrastructure in cardiology field will drive the electrophysiology market revenue

Ambulatory surgery centers segment is estimated to attain a CAGR of 11.1% till 2027 impelled by the high patient accessibility and low-cost procedures. Furthermore, high usage of technological advanced devices and several medical technologies for patient treatment with less procedural time will foster the segment progression. Moreover, increasing catheterization procedures in settings and changing reimbursement policies will spur the segment expansion.

Large patient pool with increasing healthcare reforms in APAC will fuel the product demand

Asia Pacific electrophysiology market is poised to expand at more than 13% CAGR till 2027 on account of the increasing incidence of cardiovascular diseases in the region. Additionally, surge in aging population and change in lifestyle habits contributes to patient base. Further, rising emphasis of established industry players owing to the large patient pool will impact the regional growth. Government funding for development of healthcare infrastructure and improvement in healthcare reforms will influence market value in the region.

Product augmentation by several market players will stimulate the industry progression

Major companies operating in the market include Boston Scientific Corporation, Abbott Laboratories, Medtronic, Biotronik SE & Co KG, Japan Lifeline, GE Healthcare, Koninklijke Philips and Johnson & Johnson. These industry leaders mainly focus on adoption of several growth strategies such as collaborations, mergers and acquisitions product launches, etc., to expand their product portfolio and gain competitive advantage over others.

Authors: Sumant Ugalmugle, Rupali Swain