Global Electrophysiology Market Is Expected to Reach USD 11.53 Billion By 2027 At A CAGR Of 9.2 percent.
Maximize Market Research has published a report on the Global Electrophysiology Market that provides a detailed analysis for the forecast period of 2022 to 2027.
Global Electrophysiology Market Scope:
The report provides comprehensive market insights for industry stakeholders, including an explanation of complicated market data in simple language, the industry’s history and present situation, as well as expected market size and trends. The research investigates all industry categories, with an emphasis on key companies such as market leaders, followers, and new entrants. The paper includes a full PESTLE analysis for each country. A thorough picture of the competitive landscape of major competitors in the Global Electrophysiology Market by goods and services, revenue, financial situation, portfolio, growth plans, and geographical presence makes the study an investor’s guide.
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Global Electrophysiology Market Overview:
The tests used in electrophysiology are those that aid medical professionals in comprehending the nature of aberrant cardiac rhythms. Arrhythmia or irregular heartbeats are diagnosed using this method, which examines electrical cardiac activity. The catheter is inserted first, and then a wire electrode is used to measure the electrical activity in the blood arteries that lead to the heart. The electrophysiology laboratory, hospital, or cardiac centers all have access to the EP market’s products, such as the ablation catheter, 3D mapping system, radio frequency generator, and access devices. One of the most often utilized procedures for treating atrial fibrillation is cardiac ablation.
Global Electrophysiology Market Dynamics:
The rise in the prevalence of cardiac arrhythmias like atrial fibrillation and atrial flutter, the rising demand for diagnostic and ablation catheters, the rise in the number of cardiac ablation procedures, and technological advancements in the production of electrophysiology devices are the main factors driving the growth of the global Global Electrophysiology Market. For instance, in the United States, Europe, and Asia-Pacific, respectively, 7 million, 14 million, and 20 million people, respectively, were diagnosed with atrial fibrillation in 2021, according to Johnson & Johnson, a medical device business. Additionally, in June 2021, BioSig Technology, Inc., a provider of medical technology, will showcase the clinical use of its most recent software for the treatment of arrhythmias and revolutionary signal processing technology for electrophysiology.
Products for electrophysiology are expensive, and the reimbursement procedure is ineffective.
Due to the fierce competition among the existing competitors, the Global Electrophysiology Market is currently very price competitive. The majority of these goods, such as EP recording devices and 3D cardiac mapping equipment, are expensive. Cardiovascular 3D mapping systems typically cost between USD 250,000 and USD 800000 (Source: APN Health). A method for recording EPs costs USD 160,000. (Source: BioSig Technologies, Annual Report, 2019). EP techniques are typically expensive because of the significant expenses associated with capital, training, and maintenance.
More emerging markets are becoming active. For players in the cardiac mapping systems market, emerging markets are expected to present significant growth opportunities, primarily because of their expanding patient populations, rising adoption of cardiac mapping systems, growing awareness of CVDs, rising disposable incomes, improving healthcare infrastructure, and relatively lax regulations when compared to developed nations. Over the past ten years, surgical procedures have steadily increased in the emerging nations, driven by rising CVD-related mortality rates, an expanding target patient population, and an increase in medical tourism.
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Global Electrophysiology Market Regional Insights:
Due to the rising prevalence of cardiac arrhythmia, the rising number of electrophysiology device approvals, the rising number of cardiac ablation procedures, and the presence of key players in the region, North America commanded a sizeable portion of the Global Electrophysiology Market. North America is expected to maintain its domination during the forecast period. However, due to an increase in the frequency of atrial fibrillation, technological advancements in the field of electrophysiology, an increase in health care spending, and a rise in the population of elderly people, the largest growth during the forecast is expected in Asia-Pacific.
Global Electrophysiology Market Segmentation:
By Product :
- P Diagnostic Catheters
- EP Laboratory Devices
- EP Ablation Catheters
- Access Devices
By Platform:
- Atrial Fibrillation
- Ventricular Fibrillation
- Atrioventricular Nodal Reentry Tachycardia
- Wolff-Parkinson-White
- Right Atrial Tachycardia
- Right Atrial Flutter
- Left Atrial Flutter
- Right Ventricular Tachycardia
- Left Ventricular Tachycardia
Global Electrophysiology Market Key Competitors:
- Abbott Laboratories
- Ge Healthcare
- Johnson & Johnson
- Siemens Healthcare
- Medtronic Inc.
- R. Bard, Inc.
- Boston Scientific
- Jude Medical, Inc.
- Biotronik SE & Co. KG
- Koninklijke Philips N.V
- Biosense Webster, Inc
- Hansen Medical
- Pioneer Medical Devices
- Catheter & Medical Design
- VascoMed GmbH
- Advanced Cardiac Therapeutics
- Nihon Kohden Corporation
- CardioFocus
- Microport Scientific Corporation
- Sorin Group
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Maximize Market Research is a multifaceted market research and consulting company with professionals from several industries. Some of the industries we cover include medical devices, pharmaceutical manufacturers, science and engineering, electronic components, industrial equipment, technology and communication, cars and automobiles, chemical products and substances, general merchandise, beverages, personal care, and automated systems. To mention a few, we provide market-verified industry estimations, technical trend analysis, crucial market research, strategic advice, competition analysis, production and demand analysis, and client impact studies.
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