New York, United States , May 03, 2023 (GLOBE NEWSWIRE) -- The Global Electrophysiology Market Size is to grow from USD 7.34 Billion in 2022 to USD 19.74 Billion by 2032, at a Compound Annual Growth Rate (CAGR) of 10.4% during the forecast period.
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Electrophysiology is the field of study that focuses on the electrical properties of cells, tissues, and organs in living organisms. It involves measuring and analyzing electrical signals using techniques like EEG, EMG, and ECG. It is used for diagnosing and monitoring medical conditions, researching the nervous and cardiovascular systems, and advancing our understanding of physiological processes. By studying the electrical activity of biological structures, electrophysiology provides valuable insights into the functioning of various biological systems, aiding in the diagnosis and treatment of diseases, and advancing our knowledge of how our bodies work at the cellular level.
Browse key industry insights spread across 200 pages with 130 market data tables and figures & charts from the report on "Global Electrophysiology Market Size, Share, and COVID-19 Impact Analysis, By Product Type (Electrophysiology Ablation Catheter, Electrophysiology Laboratory Devices, Electrophysiology Diagnostic Catheters, Electrophysiology Access Devices, and Other Devices), By Indication Type (Atrial Fibrillation, Atrial Flutter, Atrioventricular Nodal Re-entry Tachycardia, Wolff-Parkinson-White Syndrome, and Other Indications), By End-User (Hospitals and Cardiac centers and Ambulatory Surgery Centers), By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2032." Get Detailed Report Description Here:
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The EP ablation catheters segment is expected to grow at a CAGR of 11.3% over the forecast period.
The global electrophysiology market is categorized based on product type. EP ablation catheters are the fastest-growing segment in the forecast period within the electrophysiology market. These specialized catheters are used in EP procedures to deliver energy to specific areas of the heart for the purpose of ablation, which is the targeted destruction of abnormal heart tissue causing arrhythmias. EP ablation catheters are witnessing rapid growth due to increasing demand for minimally invasive treatment options, advancements in catheter technologies, and growing awareness about the benefits of EP ablation procedures for managing cardiac arrhythmias. Moreover, the rising prevalence of atrial fibrillation and other arrhythmias worldwide is driving the adoption of EP ablation catheters, making them the fastest-growing segment in the electrophysiology market forecast period.
The atrial fibrillation segment dominated the market with more than 31.5% revenue share in 2022
Based on the indication type, the global electrophysiology market is segmented into atrial fibrillation, atrial flutter, atrioventricular nodal re-entry tachycardia, wolff-parkinson-white syndrome, and other indications. The atrial fibrillation category accounted for the largest share in the electrophysiology Market in 2022, due to its high prevalence and significant impact on global healthcare. AF is the most common type of cardiac arrhythmia, affecting millions of people worldwide. The increasing aging population, changing lifestyle patterns, and growing awareness about AF risk factors have contributed to its dominant position in the market. Additionally, advancements in electrophysiology technologies, including catheter ablation, implantable devices, and anticoagulation therapies, have improved the management and treatment of AF, further reinforcing its dominance in the electrophysiology market.
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Asia-Pacific is predicted to grow at higher CAGR of around 12.4% during the forecast period
Based on region, Asia-Pacific is expected to be fastest growing region for the electrophysiology market due to various factors. The region has a large population base, a growing middle class, and increasing urbanization, leading to a rise in the prevalence of cardiovascular and neurological disorders. The expanding healthcare infrastructure, rising disposable incomes, and growing awareness about advanced medical technologies are driving the demand for electrophysiology procedures in Asia-Pacific. Moreover, advancements in healthcare technologies, increasing investments in research and development, and the growing adoption of minimally invasive procedures are propelling the growth of the electrophysiology market in the region. Additionally, favorable government initiatives, increasing healthcare expenditure, and expanding access to healthcare facilities are further supporting the growth of the Electrophysiology market in Asia-Pacific.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Some of the major players in the global electrophysiology market include Abbott Laboratories, Boston Scientific Corporation, Medtronic PLC, Johnson & Johnson, Siemens Healthineers, GE Healthcare, Koninklijke Philips N.V., Biosense Webster, Inc., MicroPort Scientific Corporation, LivaNova PLC, Stereotaxis, Inc., CardioFocus, Inc., EP Solutions SA, AtriCure, Inc., and BIOTRONIK SE & Co. KG.
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