The Electrophysiology Market is expected to grow at a CAGR of 10.6% from 2020-2030
The Electrophysiology Market is expected to grow ata CAGR of 10.6% from 2020-2030, according to a new research report by Next MoveStrategy Consulting.
Electrophysiology (EP) is a diagnostic procedure, performed for theassessment of electrical impulses of the human heart. It is a minimallyinvasive procedure that involves the use of catheters and wire electrodes. Electrophysiologystudy helps in the diagnosis of heart arrhythmias & other cardiacconditions, which has high prevalence rate among large population. Electrophysiologyalso enables the advance diagnosis & treatment of serious conditions suchas atrial flutter, atrioventricular nodal reentry tachycardia and others.
According to the report, rising prevalence of heart disorders, along withthe development of healthcare facilities & infrastructure are major factorsdriving the market growth. Also, the high prevalence rate of atrialfibrillation and other rhythmic disorders owing to unhealthy food habits,alcoholism and others has further created demand for electrophysiology study.In addition, presence of large geriatric population with higher risk ofcardiovascular disorders and the rising market investments to integrate newtechnologies for higher accuracy are also expected to contribute to the marketgrowth. Moreover, high adoption rate of minimally invasive procedure owing tonumerous advantages over conventional technology is also expected to boost themarket growth. On the other hand, continuous launch of new products along andhigher rate of FDA approvals can cause shift in market trends in the nearfuture.
However, high cost associated with EP devices and stringent regulatorypolicies for the approval of devices is likely to inhibit the market growth.Moreover, rising awareness with regards to electrophysiology procedures, favourablereimbursement policies and 3D mapping is anticipated to provide numerousopportunities to the market players in the coming few years.
On the basis of product, the electrophysiology market share is segmentedinto ablation catheters, diagnostic catheters, laboratory devices, accessdevices, and others. Ablation catheters segment dominates the global electrophysiologymarket and will be the dominant segment during the forecasted period.
On the basis of target disease, the electrophysiology market iscategorised into atrial fibrillation, atrioventricular nodal re-entrytachycardia, atrial flutter, wolff-parkinson-white syndrome, and other. Atrialfibrillation segment accounts for the major market share which is likely todominate the market growth over the forecast period owing to the highprevalence rate.
North America accounts for the highest market size & share of the electrophysiologymarket throughout the forecast period owing to the rising prevalence of atrialfibrillation along with presence of developed healthcare infrastructure. Inaddition, consistent advancement in electrophysiology technology with rising marketinvestments is expected to propel the market growth. Europe stands second inelectrophysiology market in terms of market size. Asia Pacific is expected tobe the fastest developing region in the electrophysiology market, majorlydriven by the high prevalence rate of cardiovascular disorders and presence oflarge geriatric population in the region. Moreover, rapid development inhealthcare facilities as well as surge in disposable income is also expected tofuel the market growth.
According to the report, some the key players in the electrophysiologymarket are Siemens AG, Medtronic plc,St. Jude Medical, Inc., Biosense Webster,Inc., Philips Healthcare, Biotronik SE & Co.KG, Boston ScientificCorporation, GE Healthcare, Microport Scientific Corporation, AbbottLaboratories.
Browse key industry insights from the report, “ElectrophysiologyMarket Size By Product (AblationCatheters, Diagnostic Catheters, Laboratory Devices, Access Devices, and Others)By Target Disease (Atrial Fibrillation, Atrioventricular Nodal ReentryTachycardia, Atrial Flutter, Wolff-Parkinson-White Syndrome, and Other), RegionalOutlook (U.S., Canada, Germany, UK, France, Spain, Italy, Russia, China, India,Japan, Australia, Indonesia, Malaysia, South Korea, Brazil, Mexico, SouthAfrica, Saudi Arabia, UAE, Kuwait), Growth Potential, Price Trends, CompetitiveMarket Share & Forecast, 2020–2030” in detail along with the tableof contents:
Key Insights from the Electrophysiology MarketReport:
- Asia Pacific is the fastest growing region in the Electrophysiology market owing to the high prevalence rate of cardiovascular disorders, rising demand for minimally invasive process and presence of large geriatric population prone to cardiovascular disorders.
· The atrial fibrialltion dominates themarket in terms of application and is expected to grow at a significant CAGR tomaintain the lead till 2030.
- Some of the major players in the market are Siemens AG, Medtronic plc, St. Jude Medical, Inc., Biosense Webster, Inc., Philips Healthcare, Biotronik SE &Co.KG, Boston Scientific Corporation, GE Healthcare, Microport Scientific Corporation, Abbott Laboratories.
The report Electrophysiology market –segmented by product, target disease and geography
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