Overview and Scope
Electrophysiology devices and equipment are used in the diagnosis and treatment of heart rhythm disorders through electrical activity.
Sizing and Forecast
The electrophysiology devices and equipment market size has grown rapidly in recent years. It will grow from $6.1 billion in 2023 to $6.74 billion in 2024 at a compound annual growth rate (CAGR) of 10.4%. The growth in the historic period can be attributed to cardiac arrhythmias prevalence, aging population, minimally invasive procedures, clinical guidelines and research.
The electrophysiology devices and equipment market size is expected to see strong growth in the next few years. It will grow to $9.66 billion in 2028 at a compound annual growth rate (CAGR) of 9.4%. The growth in the forecast period can be attributed to personalized medicine, telehealth integration, global access to healthcare, electrophysiology devices in heart failure management. Major trends in the forecast period include 4d mapping and visualization, remote ablation procedures, hybrid procedures, leadless cardiac pacing.
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Segmentation & Regional Insights
The electrophysiology devices and equipment market covered in this report is segmented –
1) By Product Type: Electrophysiology Ablation Catheters, Electrophysiology Diagnostic Catheters, Electrophysiology Lab Systems
2) By Monitoring Device Type: Electrocardiograph (ECG), Electroencephalograph (EEG), Electrocorticograph (ECoG), Electromyograph (EMG), Electroretinograph (ERG), Electrooculograph (EOG), Holter Monitoring Devices, X-Ray Systems, Imaging and 3D Mapping Systems, Diagnostic Electrophysiology Catheters
3) By Indication Analysis: Atrioventricular Nodal Reentry Tachycardia (AVNRT), Wolff-Parkinson-White Syndrome (WPW), Atrial Flutter, Atrial Fibrillation
4) By End-Users: Hospitals, Diagnostic centers, Clinics
Top Major Players:
Boston Scientific Corporation
Abbott Laboratories
GE Healthcare
Philips Healthcare
Biotronik SE & Co. KG
North America was the largest region in the global electrophysiology devices and equipment market in 2023.
North America was the largest region in the global electrophysiology devices and equipment market in 2023. Western Europe was the second-largest region in the global electrophysiology devices and equipment market. The regions covered in the electrophysiology devices and equipment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
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Major Driver Impacting Market Growth
An increase in the prevalence rate of cardiovascular diseases (CVD) forms one of the major drivers for the industries operating in the electrophysiology devices and equipment market. CVD cases remain the leading cause of death across the globe, which increases the demand for a quick and effective treatment of the disease, thus increasing the demand for electrophysiology devices. For instance, in March 2022, according to the Office for National Statistics, there were 20,061 deaths attributed to heart attacks, marking an increase from the 19,440 recorded in 2020. Furthermore, in May 2023, according to the Centers for Disease Control and Prevention (CDC), a US-based government agency, in the US, approximately 1 in 20 adults aged 20 and older were afflicted by cardiovascular diseases. In 2021, a total of 695,000 individuals were living with cardiovascular diseases, and tragically, 375,476 people succumbed to these conditions in the same year.
Key Industry Players
Major companies operating in the electrophysiology devices and equipment market include Boston Scientific Corporation, Abbott Laboratories, GE Healthcare, Philips Healthcare, Biotronik SE & Co. KG, Medtronic plc, Biosense Webster Inc., Microport Scientific Corporation, Japan Lifeline Co., C.R. Bard, Mennen Medical Ltd., Harvard Bioscience Inc., HeNan HuaNan Medical Science and Technology Co. LTD., Nihon Kohden Corporation, Alere Inc., MedRobotics, Interface Biologics Inc., Meridian Health System Inc., Cardiva Medical Inc., Lombard Medical Technologies, Deltex Medical Group, Biotelemetry, Bioheart Inc., Asahi Intecc Co. Ltd., Siemens Healthineers, Lepu Medical Technology (Beijing) Co. Ltd, Acutus Medical Inc., Imricor Medical Systems, Johnson & Johnson
The electrophysiology devices and equipment market report table of contents includes:
1. Executive Summary
2. Electrophysiology Devices And Equipment Market Characteristics
3. Electrophysiology Devices And Equipment Market Trends And Strategies
4. Electrophysiology Devices And Equipment Market – Macro Economic Scenario
5. Global Electrophysiology Devices And Equipment Market Size and Growth
….
31. Global Electrophysiology Devices And Equipment Market Competitive Benchmarking
32. Global Electrophysiology Devices And Equipment Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Electrophysiology Devices And Equipment Market
34.Electrophysiology Devices And Equipment Market Future Outlook and Potential Analysis
35. Appendix
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