Rockville, Jan. 31, 2023 (GLOBE NEWSWIRE) -- As per this latest industry analysis by Fact.MR, a market research and competitive intelligence provider, the global electrophysiology devices market is valued at US$ 9.20 billion in 2023 and is predicted to reach US$ 20.80 billion by the end of 2033. Studies that assist doctors comprehend the nature of an irregular cardiac rhythm are referred to as electrophysiology (EP). Rising cases of atrial fibrillation are positively influencing overall electrophysiology market growth.
One of the most common forms of heart arrhythmia, atrial fibrillation (AF), places a significant cost on the economy and the healthcare system. Due to the significant prevalence of obesity, a sluggish lifestyle, and smoking habits in western nations during the past ten years, AF rates have surged tremendously.
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Report Attributes | Details |
| Historical Data | 2023 - 2032 |
| Value Projection (2032) | US$ 9.20 Billion |
| Growth Rate (2022-2032) | 8% CAGR |
| No. of Pages | 170 pages |
| No. of Tables | 84Tables |
| No. of Figures | 112 Figures |
Key Takeaways from Market Study
- The global electrophysiology devices market is forecasted to increase rapidly at a CAGR of 8.5% from 2023 to 2033.
- The market in Japan is predicted to expand at a CAGR of 8% during the projected period.
- Sales of electrophysiology ablation catheters are set to rise at a CAGR of 9.5% through 2033.
- Demand for electrophysiology diagnostic catheters is predicted to increase at a CAGR of 8% during the next 10 years.
“Rapidly increasing senior citizen population--who are more prone to heart-related problems--is driving the sales of electrophysiology devices,” says a Fact.MR analyst.
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Recent Developments
- The EnSite X Electrophysiology system with EnSite omnipolar technology acquired US Food and Drug Administration (USFDA) certification for the treatment of people with atrial fibrillation, according to a January 2022 announcement from the pharmaceutical company Abbott Laboratories.
- To determine if pulsed field ablation can be utilized to treat patients with abnormal heartbeats, Beaumont Health announced the introduction of a new atrial fibrillation ablation treatment in March 2021.
- Acutus Medical announced the arrival of the AcQBlate Force Sensing Ablation System in Europe in December 2020. The AcQBlate Force ablation catheter and the Qubic Force sensing module have both earned the CE mark for the company.
Competitive Landscape
Leading companies in the electrophysiology devices market are Abbott Laboratories, Inc, Biosense Webster, Inc, Biotronik SE & Co. KG, and Boston Scientific Corporation.
Some of the key players in the electrophysiology devices market are strongly concentrating on emerging economies to capture potential opportunities by focusing on local supply chain management. They also manage pricing trends, product standards, and safety regulations according to regional marketing tactics.
- Abbott Laboratories, Inc.
- Biosense Webster, Inc.
- Biotronik SE & Co. KG
- Boston Scientific Corporation
- CardioFocus, Inc.
- Medtronic PLC
- MicroPort Scientific Corporation
- Nihon Kohden Corporation
- Siemens Healthineers
- Stereotaxis, Inc.
New Developments:
- Excellent potential for investors to expand in the region is provided by the untapped developing markets in Asian countries such as India and China. For instance, in India, Medtronic released the Micra AV in June 2021. It is a small, entirely self-contained pacemaker that offers AV block sufferers cutting-edge pacing technology through minimally-invasive procedures.
- Koninklijke Philips N.V. declared in November 2021 that it has acquired Cardiologs, a French company that makes medical technologies. With the use of the company's cloud and AI technology, the acquisition will help Philips grow its cardiac diagnostics and monitoring business.
- February 2022: Medtronic said that Freezor and Freezor Xtra Cardiac Cryoablation Focal Catheters, the first and only ablation catheters licensed to treat the rising prevalence of juvenile Atrioventricular Nodal Reentrant Tachycardia, had obtained FDA extended approval (AVNRT).
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Key Segments of Electrophysiology Devices Industry Research
- By Product :
- Electrophysiology Ablation Catheters
- Electrophysiology Diagnostic Catheters
- Electrophysiology Laboratory Devices
- Access Devices
- By Indication :
- Atrial Fibrillation (AF)
- Atrial Flutter (AFL)
- Atrioventricular Nodal Reentrant Tachycardia (AVNRT)
- Wolff-Parkinson-White Syndrome (WPW)
- Bradycardia
- By End User :
- Hospitals
- Ambulatory Surgical Centers
- Laboratories
- By Region :
- North America
- Latin America
- Europe
- East Asia
- South Asia & Oceania
- MEA
More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the global electrophysiology devices market, presenting historical demand data (2018 to 2022) and forecast statistics for the period of 2023 to 2033.
The study divulges essential insights on the market on the basis of product (electrophysiology ablation catheters, electrophysiology diagnostic catheters, electrophysiology laboratory devices, access devices), indication (atrial fibrillation (AF), atrial flutter (AFL), atrioventricular nodal reentrant tachycardia (AVNRT), Wolff-Parkinson-White Syndrome (WPW), bradycardia), and end user (hospitals, ambulatory surgical centers, laboratories), across five major regions of the world (North America, Europe, Asia Pacific, Latin America, and MEA).
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