In 2021, it was projected that the market for electrophysiological devices would be valued USD 5.6 billion. From 2023 to 2032, it is expected to grow at a CAGR of 10.94%. The industry is expanding as a result of rising demand for devices for cardiac rhythm management for continuous monitoring, growing use of these devices outside of hospitals, and rising use of Electrophysiology (EP) tests for the therapy and diagnosis of heart conditions like atrial fibrillation. The risk of these conditions is higher in millennials due to variables like smoking, excessive alcohol consumption, leading sedentary lifestyles, and atrial fibrillation. The CDC forecasts that 12.1 million People will experience atrial fibrillation by 2032.
Additionally, Europeans are more prone to atrial fibrillation than Black Americans are. According to the European Society of Cardiology, sudden cardiac arrest brought on by an irregular heart rhythm is one of the leading reasons of death in western countries. It affects about 1 in 1000 individuals annually. Electrophysiology devices are among the cardiology-specific medical equipment used to identify and manage cardiac arrhythmias. As a result, the industry is growing as heart diseases are becoming more common. EP has simplified ambulatory ECG tracking and mobile cardiac telemetry. The market is expected to grow as a result of technological advancements like cloud data storing, wireless transmission, and remote tracking of implantable cardiac devices.
Due to factors such as the ageing population, rising cardiac arrhythmia prevalence, the effect of developing nations on global health and development, and technological advancements, the market for electrophysiology devices is expected to expand globally. In the research on the global electrophysiology devices market, the market is in-depth evaluated. Key market segments, trends, drivers, restraints, the competitive environment, and other crucial factors are all thoroughly examined in the study.
Global Electrophysiology Devices Market Definition
The study of the electrical characteristics of living cells is known as electrophysiology. In electrophysiological diagnostic and therapeutic processes, electrophysiology devices are used. Electrophysiology can be used by doctors to assess a patient’s cardiac health and identify arrhythmia or abnormal heartbeats. Due to the unique benefits that each of these devices provides, their components and functions vary. The gadget includes pulse generator and wires. In addition to monitoring heart rhythm, the leads also provide the necessary energy for defibrillation, cardioversion, and/or pacing.
EP labs are used for interventional treatments like ablation and device implantations as well as the diagnosis of particular heart conditions, according to the National Center for Biotechnology Information (NCBI). Anesthesiologists, interventional cardiologists, and other medical professionals should cooperate in this risky and demanding setting. Implanting pacemakers, intracardiac defibrillators (ICDs), and cardiac resynchronization treatment can be done under sedation and with local anaesthetics (CRT). The cornerstone of bradyarrhythmia therapy is the pacemaker. Anti-tachycardia pacing in ICDs should stop some reentry tachycardias, while subsequent defibrillation treatment should stop malignant arrhythmias like VT and ventricular fibrillation (VF).
Global Electrophysiology Devices Market Overview
Strong demand for electrophysiology devices, especially from emerging economies, increased focus on research and development capabilities and the adoption of modern healthcare technologies, as well as rising spending on the development of healthcare infrastructure, especially for developing economies, are all factors that are causing the market for these devices to grow. To detect and correct electrophysiological abnormalities, medical equipment known as electrophysiological devices is used. A patient’s cardiac condition is evaluated using a procedure known as electrophysiology. One of the key reasons driving the market’s growth is an increase in arrhythmia prevalence globally. The increased focus on medical technology innovations and the growing elderly population both have an impact on market growth.
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Market Segmentations:
Global Electrophysiology Devices Market: Major Players
Topera, Inc
Microport Scientific Corporation
Johnson & Johnson Company
Boston Scientific
GE Healthcare
St.Jude Medical Inc.
Siemens Healthcare
Abbott Laboratories
Molecular Devices
Biotronik SE & Co. KG
Global Electrophysiology Devices Market: Types
Electrophysiology Treatment Devices
Electrophysiology Monitoring Devices
Other
Global Electrophysiology Devices Market: Applications
Hospital
Clinic
Other
Global Electrophysiology Devices Market: Regional Analysis
All the regional segmentation has been studied based on recent and future trends, and the market is forecasted throughout the prediction period. The countries covered in the regional analysis of the Global Electrophysiology Devices market report are U.S., Canada, and Mexico in North America, Germany, France, U.K., Russia, Italy, Spain, Turkey, Netherlands, Switzerland, Belgium, and Rest of Europe in Europe, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, China, Japan, India, South Korea, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), and Argentina, Brazil, and Rest of South America as part of South America.
Analysis of the impact of COVID-19 and the Russia-Ukraine War:
The readers of this section will be better informed on the effects of the pandemic, the post-pandemic, and the Russia-Ukraine War on the global market for refrigerated freight services. The factors that have changed since the poll was done include demand, consumption, transportation, consumer behavior, and supply chain management. Industry experts have also emphasized the crucial factors that will help players identify opportunities and maintain the sector as a whole in the approaching years.
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Frequently Asked Questions About This Report
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