Global Electrophysiology Devices Market was valued at USD 6.92 billion in 2021, growing at a CAGR of 9.74% during the forecast period from 2022 to 2027, to reach USD 12.08 billion by 2027. The demand for electrophysiology devices is primarily being boosted by rising prevalence of cardiovascular diseases, technological advancement in product development, increasing geriatric population, sedentary lifestyle, and increasing awareness programs regarding cardiovascular diseases.
Electrophysiology Devices: An Overview
An electrophysiology device helps in the assessment of the electrical activity of the heart. These devices help in the diagnosis as well as in the treatment of diseases related to the electrical system of the heart.
Regions Covered in the Report
- Global
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Recent Developmental Activities in Electropysiology Devices Market
- In December 2020, Acutus Medical Inc announced the launch of their AcQBlate® Force Sensing Ablation System in Europe after securing CE Mark for the company’s AcQBlate FORCE ablation catheter and the Qubic Force Sensing Module (Qubic Force).
- In November 2020, Abbott received the CE mark and Approval from the Australian Regulatory Authority for their EnSite™ X EP System, which is equipped with advanced imaging capabilities and allows for the creation of the 3D model of cardiac anatomy of patients. This system is developed to offer electro physiologists a smoother platform to help deliver ablation therapy to treat abnormal heart rhythms.
- In January 2020, Imricor received CE mark approval for its Vision-MR Ablation Catheter and Vision-MR Dispersive Electrode. This is the first and only company to offer cardiac ablation devices for use in the MRI environment.
Key Takes Away From the Electrophysiology Devices Market Report Study
- Market size analysis for current market size (2021), and market forecast for 5 years (2022-2027)
- The effect of the COVID-19 pandemic on this market is significant. To capture and analyze suitable indicators, our experts are closely watching the electrophysiology devices market.
- Top key product/services/technology developments, merger, acquisition, partnership, joint venture happened for last 3 years
- Key companies dominating the Global Electrophysiology Devices Market.
- Various opportunities available for the other competitor in the Electrophysiology Devices Market space.
- What are the top performing segments in 2021? How these segments will perform in 2027.
- Which is the top-performing regions and countries in the current electrophysiology devices market scenario?
- Which are the regions and countries where companies should have concentrated on opportunities for electrophysiology devices market growth in the coming future?
Electrophysiology Devices Market Dynamics
The EP study helps in the evaluation of electrical impulses of the heart to assess the abnormal heart rhythms. As per the data provided by the World Health Organization (2021), cardiovascular diseases (CVDs) are the leading cause of death across the globe, where in this group of disease account for an estimated 17.9 million lives each year. Furthermore, the same data by the WHO presented that over four out of five CVD deaths list strokes and heart attacks as the main cause, and one-third of these deaths are said to occur prematurely in people below 70 years of age. Over three quarters of CVD deaths take place in low- and middle-income countries.
According to the data provided by the European Society for Cardiology (ESC) (2021), each year cardiovascular disease (CVD) causes 3.9 million deaths in Europe and over 1.8 million deaths in the European Union. They represent about 45% of all deaths in Europe and 37% in the EU. According to the data provided by the Global Health Data Exchange database which is considered as one of the most comprehensive worldwide catalogs of censuses, surveys, vital statistics, and other health-related data, it is estimated that by 2050, 6-12 million people will suffer from atrial fibrillation in the US by 2050 and 17.9 million people in Europe by 2060.
Electrophysiology Devices Market Segment Analysis
Electrophysiology Devices Market By Device Type (Treatment Devices [Defibrillators, Pacemakers, Cardiac Resynchronization Therapy Devices, Ablation Systems [Radiofrequency, Cryoablation, And Others], And Others], By Diagnostic Devices [ECG Monitors [Stress, Rest, And Holter Monitors], EP X-Ray Systems, EP Recording Systems, EP Imaging & Mapping Systems, Implantable Cardiac Monitors, And Others]), By Modality (Implantable And External), By Application (Ventricular Tachycardia, Atrial Fibrillation, Bradycardia, And Others), By End User (Hospitals, Ambulatory Surgical Centers, And Others), and Electrophysiology Devices by Geography (North America, Europe, Asia-Pacific, and Rest of the World).
Electrophysiology Devices Product Segmentation
In product segment in the diagnostic device segmentation of the electrophysiology devices market, the ECG monitors segment is expected to amass the largest market share during the forecast period. ECG systems have been the most commonly used devices for the purpose of cardiac monitoring. These devices are generally found in hospitals setups and have been the conventional and most preferred mode of ECG monitoring of patients. Besides being one of the oldest technologies present, these devices are economical to procure for healthcare facilities, which in turn, make them an affordable diagnostic procedure for patients. Furthermore, ECG tests are the preliminary test where cardiac malfunctioning is suspected where in their results become important before proceeding for advanced tests or deciding a treatment approach.
Electrophysiology Devices Market is expected to dominate the North America
Among all the regions, North America is expected to account for the largest share in the electrophysiology devices market. The growing prevalence of cardiovascular diseases such as heart failure and atrial fibrillation, access to better healthcare infrastructure along with the presence of major market players in the region are predicted to be the major influencing factors in driving the overall growth of the electrophysiology devices market over the forecast period.
Electrophysiology Devices Market Companies
Some of the key market players operating in the electrophysiology devices market includes Boston Scientific Corporation, Lepu Medical Technology (Beijing) Co. Ltd, GENERAL ELECTRIC COMPANY, Medtronic, Abbott, BIOTRONIK, Microport Scientific Corporation, Acutus Medical, Inc., Imricor, Medical Devices Business Services, Inc. (Johnson & Johnson), Baylis Medical Company, Inc, Schwarzer Cardiotek GmbH, ATRICURE, INC., CardioFocus, Osypyka AG and others.
Find more related information of the report– Electrophysiology Devices Market Size
Table of Content
1. Electrophysiology Devices Market Report Introduction
2. Electrophysiology Devices Market Executive Summary
3. Regulatory and Patent Analysis
4. Electrophysiology Devices Market Key Factors Analysis
5. Electrophysiology Devices Market Porter?? Five Forces Analysis
6. COVID-19 Impact Analysis on Electrophysiology Devices Market
7. Electrophysiology Devices Market Layout
8. Electrophysiology Devices Global Company Share Analysis – Key 3-5 Companies
9. Electrophysiology Devices Company and Product Profiles
10. Project Approach
11. KOL Views
12. DelveInsight Capabilities
13. Disclaimer
14. About DelveInsight
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