Electrophysiology Devices Market to Rise at 10.9% CAGR till 2026

The global electrophysiology devices market size is projected to reach USD 10.51 billion by 2026. According to areport published by Fortune Business Insights, titled “Electrophysiology Devices Market Size, Share & Industry Analysis,By Type (Ablation Catheters, Diagnostic Catheters, Mapping Systems, Accessories& Others), By Application (Atrial Fibrillation, Supraventricular Tachycardia(SVT), Ventricular Tachycardia ,and Others),By End User (Hospitals & ASCs, andSpecialty Clinics & Diagnostic Centres), and Regional Forecast, 2019-2026,”the market size was USD 4.60 billion in 2018 and is projected to exhibit aCAGR of 10.9% during the forecast period.

Electrophysiologydevices are used in the treatment of severe cardiovascular diseases. The highprevalence of heart-related disorders has created massive product demand acrossthe world. Increasing adoption of habits such as alcohol consumption andsmoking will have a positive impact on market growth. The advent oftechnologically advanced electrophysiology devices has enabled enhancedoperating efficiency in surgical procedures. Improving health reimbursementpolicies, coupled with the increasing investment in healthcare infrastructurewill open up a huge potential for market growth. The growing prevalence ofatrial fibrillation in several countries across the world has opened up amassive potential for market growth. Recent technological advancements havefuelled the demand for these devices.

An Overview of the Impact of COVID-19 on this Market:

Theemergence of COVID-19 has brought the world to a standstill. We understand thatthis health crisis has brought an unprecedented impact on businesses acrossindustries. However, this too shall pass. Rising support from governments andseveral companies can help in the fight against this highly contagious disease.There are some industries that are struggling and some are thriving. Overall,almost every sector is anticipated to be impacted by the pandemic.

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Increasing Number ofProduct Launches to Aid Growth

The report provides an in-depth analysis of the influence ofmajor factors on the market in recent years. Among all factors, the increasingnumber of product launches have made the highest impact on the growth of themarket in recent years. The report highlights a few of the major products ofrecent years. In September 2019, Biosense Webster Inc., announced the launch ofCARTONET. The device was the world’s first secure cloud-based network, aimed toreview and analyze atrial fibrillation cases. The device successfully enhancedthe overall efficiency of the procedure. Abbott’s new electrophysiology mappingcatheter system was another product that has made a positive impact on the marketin recent years.

Increasing Prevalenceof Heart Failure to Aid Growth of the Market in North America

Among allregions, North America is projected to emerge dominant in the coming years. Theincreasing heart failure rates in several countries across this region, coupledwith the increasing adoption of unhealthy lifestyle habits will aid growth ofthe market in this region. The market in Europe will witness significantgrowth, owing to the high prevalence of atrial fibrillation in countries suchas Germany, Spain, and Italy will contribute to the growth of the market inEurope.

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