Electrophysiology Market is Expected to Reach $15.1 Billion | MarketsandMarkets™

Chicago, Feb. 19, 2024 (GLOBE NEWSWIRE) -- Electrophysiology market in terms of revenue was estimated to be worth $8.2 billion in 2023 and is poised to reach $15.1 billion by 2028, growing at a CAGR of 13.0% from 2023 to 2028 according to a latest report published by MarketsandMarkets™. The electrophysiology market is driven by several factors contributing to its growth and increasing adoption. These driving factors include Increasing incidence of cardiac arrhythmias, Technological advancements, growing demand for minimally invasive procedures, rising awareness and Diagnosis rate, aging population, and integration of imaging technologies. However, the complexity and affordability limit the market growth of the electrophysiology market.

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Electrophysiology Market Scope:

Report Coverage	Details
Market Revenue in 2023	$8.2 billion
Estimated Value by 2028	$15.1 billion
Growth Rate	Poised to grow at a CAGR of 13.0%
Market Size Available for	2020–2028
Forecast Period	2023–2028
Forecast Units	Value (USD Billion)
Report Coverage	Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Segments Covered	Product, Indication, End User and Region
Geographies Covered	North America, Europe, Asia Pacific, Latin America and Middle East & Africa
Report Highlights	Updated financial information / product portfolio of players
Key Market Opportunity	Emerging markets offering growth opportunities
Key Market Driver	Increase in prevalence of spinal disorder

"Electrophysiology Laboratory devices accounted for the largest share of the global electrophysiology market.”

Based on the product segment, the electrophysiology market is segmented into – electrophysiology ablation catheters, electrophysiology laboratory devices, electrophysiology diagnostic catheters, Electrophysiology access devices and other devices.The electrophysiology ablation catheters are further segmented into – cryoablation electrophysiology catheters, radiofrequency ablation catheters, microwave ablation catheters, and laser ablation catheters. The electrophysiology laboratory devices are further segmented into- 3D Mapping systems, electrophysiology recording systems, radiofrequency ablation systems, Intracardiac echocardiography ultrasound systems, electrophysiology X-ray systems, and electrophysiology remote magnetic and robotic systems. The Electrophysiology Diagnostic catheter is further segmented into- conventional electrophysiology diagnostic catheters, advanced electrophysiology catheters, and ultrasound electrophysiology catheters.

"By Indication, the Atrial flutter accounts for the largest segment in the electrophysiology market.”

The electrophysiology market is segmented into Atrial fibrillation, atrial flutter, atrioventricular nodal reentry tachycardia, Wolff-Parkinson -white syndrome and other indications. The atrial flutter segment accounts for the largest segment in the indication segment. Electrocardiogram (ECG or EKG) recordings can be used to diagnose atrial flutter since they can display distinctive waveforms linked to the illness.

"By end user hospital & cardiac centers segment accounts for largest segment in 2022."

The electrophysiology market is segmented into hospitals & cardiac centers and ambulatory surgery centers. Hospitals incorporate electrophysiology services into their cardiology departments, allowing cardiologists, electrophysiologists, and other healthcare providers to collaborate more effectively. This comprehensive strategy improves patient care and heart disease management.

“North America dominates the electrophysiology market in 2022.”

The Electrophysiology market is segmented across five prominent regions: North America, Europe, Asia Pacific, Latin America and the Middle East and Africa. In 2022, the North American region emerged as the primary driver of the largest market share and the largest CAGR in the particle therapy market. North America, particularly the United States, has a well-developed and modern healthcare infrastructure. Modern hospitals, specialized clinics, and advanced medical facilities with cutting-edge electrophysiology laboratories are included. Innovation and development in medical technology are concentrated in North America. New and cutting-edge electrophysiological technologies are frequently adopted early in the region, which supports market expansion. The availability of capital for research and development, as well as support for healthcare infrastructure, contributes to the growth of the electrophysiology market in North America. This involves investments in educational institutions as well as medical research.

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Electrophysiology market major players covered in the report, such as:

• Johnson & Johnson (US)
• Abbott Laboratories (US)
• Medtronic (Ireland)
• Koninklijke Philips N.V. (Netherlands)
• GE Healthcare (US)
• Boston Scientific (US)
• Japan Lifeline (Japan)
• Stereotaxis (US)
• MicroPort Scientific (China)
• BIOTRONIK (Germany)
• Acutus Medical (US)
• Baylis Medical (Canada)
• EP Solutions (Switzerland)
• APN Health (US)
• OSYPKA (Germany)
• Epmap-System (Germany)
• CathRx (Australia)
• Merit Medical Systems (US)
• Cook Medical (US)
• CathVision (Denmark)
• TZ Medical (US)
• Teleflex (US)
• Lepu Medical (China)
• CardioFocus (US)
• Schwarzer Cardiotek GmbH (Germany)
• Imricor Medical Systems (US)
• and Among Others

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This report has segmented the Electrophysiology market on Product, Indication and End-user

ELECTROPHYSIOLOGY MARKET, BY PRODUCT

• ELECTROPHYSIOLOGY LABORATORY DEVICES
  • 3D mapping systems
  • Electrophysiology Recording Systems
  • Radiofrequency (RF) ablation SYSTEMS
  • Intracardiac Echocardiography (ICE) ultrasound imaging Systems
  • Electrophysiology x-ray systems
  • Electrophysiology remote magnetic and robotic navigation systems
• ELECTROPHYSIOLOGY ABLATION CATHETERS
  • Cryoablation electrophysiology catheters
  • Radiofrequency (RF) ablation catheters
  • Microwave Ablation (MWA) systems
  • Laser Ablation systems
• ELECTROPHYSIOLOGY DIAGNOSTIC CATHETERS
  • Conventional electrophysiology diagnostic catheters
  • Advanced electrophysiology diagnostic catheters
  • Ultrasound Electrophysiology Diagnostic Catheters
  • Electrophysiology access devices
  • Other devices

ELECTROPHYSIOLOGY MARKET, BY INDICATION

• Introduction
• Atrial fibrillation
• Atrial flutter
• Atrioventricular nodal reentry tachycardia (AVNRT)
• Wolff-Parkinson-White Syndrome (WPW)
• Other indication

ELECTROPHYSIOLOGY MARKET, BY END USER

• Introduction
• Hospitals & cardiac centers
• Ambulatory surgery centers

ELECTROPHYSIOLOGY MARKET, BY REGION

• North America
  • US
  • Canada
• Europe
  • Germany
  • France
  • UK
  • Italy
  • Spain
  • Rest of Europe
• Asia Pacific
  • Japan
  • China
  • India
  • Australia
  • South Korea
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
• MEA

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Key Market Stakeholders:

• Electrophysiology devices manufacturing companies
• Suppliers and distributors of electrophysiology products
• Third-party refurbishers/suppliers
• Hospitals
• Cardiac Centers
• Ambulatory surgery centers
• Group purchasing organizations (GPOs)
• Medical research laboratories
• Academic medical centers and universities
• Venture capitalists
• Government bodies
• Corporate entities
• Market research and consulting firms
• Accountable care organizations
• Community centers
• Regulatory authorities.
• Business research and consulting service providers
• Raw material suppliers

Report Objectives:

• To define, describe, and forecast the electrophysiology market on Product, Indication, End-User and Region
• To provide detailed information regarding the major factors influencing the market growth (such as drivers, restraints, opportunities, and challenges)
• To strategically analyze the micro markets with respect to individual growth trends, prospects,  and contributions to the total market.
• To analyze the opportunities in the market for stakeholders and provide details of the competitive landscape for market leaders.
• To profile the key market players and comprehensively analyze their market shares and core competencies.
• To forecast the revenue of the market segments concerning five main regions, namely, North America (US and Canada), Europe (Germany, France, the UK, Italy, Spain, and Rest of Europe), the Asia Pacific (China, Japan, India, South Korea, Australia, and Rest of Asia Pacific), Latin America (Brazil, Mexico, and Rest of Latin America), and the Middle East & Africa.
• To track and analyze competitive developments such as new product launches and approvals; agreements, partnerships, expansions, acquisitions; and collaborations in the electrophysiology market.

Related Reports:

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Patient Monitoring Devices Market

Top 10 Medical Device Technologies Market

Interventional Cardiology Devices Market

Ablation Technology Market

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Content Source: https://www.marketsandmarkets.com/PressReleases/electrophysiology.asp

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