Selbyville, Delaware, Feb. 16, 2021 (GLOBE NEWSWIRE) -- According to authentic predictions, North America electrophysiology market valuation is estimated to exceed USD 3.5 billion by the year 2027. This rapid expansion can be primarily credited to increased pervasiveness of atrial fibrillation and cardiac arrhythmias, technological breakthroughs, and shifting preference towards electrophysiology catheter ablation.
Furthermore, the study elaborates the different market segmentations as well as their relevant impact on the remuneration scale of this industry. It also mentions the regional outlook and talks about the leading companies as well as the growth strategies implemented by them to gain a competitive edge in this business domain.
The advent of COVID-19 pandemic has severely disrupted the healthcare sector, impacting the business sales of several medical firms and their remuneration scale. This has reduced the number of electrophysiology (EP) procedures conducted in North America, thereby negatively influencing the overall market outlook. Regardless of this, high occurrence of heart rhythm disorders and escalating COVID-19 cases are likely to again add traction to North America electrophysiology industry size.
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On the contrary, lack of skilled healthcare professionals and high costs of EP devices could act as restraining factors for the growth of North America electrophysiology market in the upcoming years.
Highlighting the market segmentations
North America electrophysiology industry is segmented into product type, indication type, end-user scope and geographical reach.
Product landscape
As per the product type, estimates cite that EP laboratory devices segment generated USD 190 million for North America electrophysiology industry in the year 2020. Significant technological developments in this business domain has resulted in emergence of advanced robotic navigation and mapping systems. In addition to this, rising prevalence of cardiovascular diseases is fueling the segmental share.
Indication type
By indication, ventricular tachycardia segment accounted for 12% market share in terms of revenue in the year 2020. Ventricular tachycardia is responsible for over 300,000 mortalities each year in the U.S. Thus, improving cognizance regarding the disease, in consort with rising number of elective surgeries are favoring the overall market scenario.
End-user scope
Citing the end-user spectrum, catheterization laboratories accounted for USD 150 million revenue share in North America electrophysiology industry in 2020. Although non-emergency procedures have declined amidst the COVID-19 outbreak, the prevalence of cardiovascular conditions is still high, and fatal cases require emergency diagnosis & treatment. Thus, North America electrophysiology industry size from catheterization laboratories is predicted to expand significantly following the gradual decline of coronavirus cases.
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Geographical reach
As per reliable estimations, Canada electrophysiology industry size is anticipated to witness a y-o-y growth rate of 10.7% between 2021 and 2027. Significant advancements in electrophysiological and interventional procedures, coupled with availability of highly skilled cardiologists are favoring the country outlook. Accessibility towards an advanced healthcare infrastructure in tandem with growing pervasiveness of cardiac arrhythmias are facilitating the business scenario in Canada.
North America Electrophysiology Market by Product Type (Revenue, USD Million, 2016-2027)
EP Laboratory Devices
- Recording Systems
- Mapping Systems
- Others
EP Diagnostic Catheters
- Ultrasound
- Advanced
- Conventional
EP Ablation Catheters
- Laser
- Cryoablation
- Radiofrequency (RF)
- Others
North America Electrophysiology Market by Indication Type (Revenue, USD Million, 2016-2027)
- Atrioventricular Nodal Reentry Tachycardia
- Atrial Flutter
- Atrial Tachycardia
- Ventricular Tachycardia
- Atrial Fibrillation
North America Electrophysiology Market End-user Analysis (Revenue, USD Million, 2016-2027)
- Ambulatory Surgical Centers
- Catheterization Laboratories/EP Laboratories
- Hospitals
- Others
North America Electrophysiology Market by Geographical Reach (Revenue, USD Million, 2016-2027)
- Canada
- United States
North America Electrophysiology Market Competitive Dashboard (Revenue, USD Million, 2016-2027)
- Microport Scientific Corporation
- Stereotaxis Inc.
- Siemens Healthineers AG
- Medtronic plc
- Koninklijke Philips N.V.
- Johnson & Johnson
- GE Healthcare
- Boston Scientific Corporation
- Biotronik SE & Co. KG
- Abbott Laboratories
Table of Content:
Chapter 1 Methodology
1.1 Definition and forecast parameters
1.1.1 Definitions
1.1.2 Methodology and forecast parameters
1.2 Data sources
1.3 References & sources
1.3.1 Secondary
1.3.2 Primary
Chapter 2 Executive Summary
2.1 North America Electrophysiology industry summary, 2016 - 2027
2.1.1 Country trends
2.1.2 Product trends
2.1.3 Indication trends
2.1.4 End-use trends
Chapter 3 Industry Insights
3.1 Industry segmentation
3.2 Industry outlook, 2016 - 2027
3.3 Major factor analysis
3.3.1 Growth drivers
3.4 Analysis of COVID-19 impact on the industry
3.5 Porter's analysis
3.6 Competitive review, 2019
3.7 PEST analysis
Chapter 4 North America Electrophysiology Market Size, By Product
4.1 Key trends in North America electrophysiology, by product
4.2 EP ablation catheters
4.2.1 Market estimates and forecast, by country, 2016 - 2027 (USD Million)
4.2.2 Radiofrequency (RF)
4.2.2.1 Market estimates and forecast, by country, 2016 - 2027 (USD Million)
4.2.3 Cryoablation
4.2.3.1 Market estimates and forecast, by country, 2016 - 2027 (USD Million)
4.2.4 Laser
4.2.4.1 Market estimates and forecast, by country, 2016 - 2027 (USD Million)
4.2.5 Others
4.2.5.1 Market estimates and forecast, by country, 2016 - 2027 (USD Million)
4.3 EP diagnostic catheters
4.3.1 Market estimates and forecast, by country, 2016 - 2027 (USD Million)
4.3.2 Conventional
4.3.2.1 Market estimates and forecast, by country, 2016 - 2027 (USD Million)
4.3.3 Advanced
4.3.3.1 Market estimates and forecast, by country, 2016 - 2027 (USD Million)
4.3.4 Ultrasound
4.3.4.1 Market estimates and forecast, by country, 2016 - 2027 (USD Million)
4.4 EP laboratory devices
4.4.1 Market estimates and forecast, by country, 2016 - 2027 (USD Million)
4.4.2 Mapping Systems
4.4.2.1 Market estimates and forecast, by country, 2016 - 2027 (USD Million)
4.4.3 Recording Systems
4.4.3.1 Market estimates and forecast, by country, 2016 - 2027 (USD Million)
4.4.4 Others
4.4.4.1 Market estimates and forecast, by country, 2016 - 2027 (USD Million)
Chapter 5 North America Electrophysiology Market Share, By Indication
5.1 Key trends in North America Electrophysiology, by indication
5.2 Atrial fibrillation
5.2.1 Market estimates and forecast, by country, 2016 - 2027 (USD Million)
5.3 Ventricular tachycardia
5.3.1 Market estimates and forecast, by country, 2016 - 2027 (USD Million)
5.4 Atrial tachycardia
5.4.1 Market estimates and forecast, by country, 2016 - 2027 (USD Million)
5.5 Atrial flutter
5.5.1 Market estimates and forecast, by country, 2016 - 2027 (USD Million)
5.6 WOLFF-Parkinson-White (WPW) syndrome
5.6.1 Market estimates and forecast, by country, 2016 - 2027 (USD Million)
5.7 Atrioventricular nodal reentry tachycardia
5.7.1 Market estimates and forecast, by country, 2016 - 2027 (USD Million)
Chapter 6 North America Electrophysiology Market Trends, By End-use
6.1 Key trends in North America Electrophysiology, by end-use
6.2 Hospitals
6.2.1 Market estimates and forecast, by country, 2016 - 2027 (USD Million)
6.3 Catheterization laboratories/EP laboratories
6.3.1 Market estimates and forecast, by country, 2016 - 2027 (USD Million)
6.4 Ambulatory surgical centers
6.4.1 Market estimates and forecast, by country, 2016 - 2027 (USD Million)
6.5 Others
6.5.1 Market estimates and forecast, by country, 2016 - 2027 (USD Million)
Chapter 7 North America Electrophysiology Market Report, By Country
Related Report:
Electrophysiology Market Size, Industry Analysis Report, Regional Outlook, Application Potential, Price Trends, Competitive Market Share & Forecast, 2020 - 2026
The electrophysiology market is expected to witness a lucrative rate of growth over the forthcoming years due to increasing incidence of cardiac disorders, growing number of arrythmia cases, and a higher number of people suffering from common diseases such as diabetes and obesity. A sophisticated healthcare infrastructure, skilled healthcare professionals and growing awareness are further expected to serve this market as major drivers. From a regional frame of reference, in 2019, Europe held a revenue share of over 31% and will continue to showcase growth over the next few years. This anticipated growth is ascribed to the increasing incidence of cardiac disorders, growing awareness and penetration of companies and expansion of regional market players.
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