New York, June 20, 2022 (GLOBE NEWSWIRE) -- The Insight Partners published latest research study on “Electrophysiology Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Product (Electrophysiology Ablation Catheters, Electrophysiology Laboratory Devices, Electrophysiology Diagnostic Catheters, Access Devices, and Others) and Indication (Atrial Fibrillation (AF), Atrial Flutter, Wolff-Parkinson White Syndrome (WPW), Atrioventricular Nodal Reentry Tachycardia (AVNRT), and Others)”, the global electrophysiology market size is expected to grow from $8.28 billion in 2022 to $14.84 billion by 2028; it is expected to register a CAGR of 10.2% from 2022 to 2028.
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Electrophysiology Market Strategic Insights:
| Report Coverage | Details |
| Market Size Value in | US$ 8.28 Billion in 2022 |
| Market Size Value by | US$ 14.84 Billion by 2028 |
| Growth rate | CAGR of 10.2% from 2022 to 2028. |
| Forecast Period | 2022-2028 |
| Base Year | 2022 |
| No. of Pages | 178 |
| No. Tables | 57 |
| No. of Charts & Figures | 76 |
| Historical data available | Yes |
| Segments covered | Product and Indication |
| Regional scope | North America; Europe; Asia Pacific; Latin America; MEA |
| Country scope | US, UK, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina |
| Report coverage | Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
Global Electrophysiology Market: Competitive Landscape and Key Developments
The introduction of technologically advanced electrophysiology devices is one of the significant elements influencing the electrophysiology market growth. The use of various advanced mapping and guidance systems supporting improved cardiac rhythm monitoring is increasing the uptake of these devices. Technological innovations such as GE Healthcare's Innova IGS 520 and Optima IGS 320 are expected to provide lucrative growth opportunities in the electrophysiology market. These products are dose-efficient interventional X-ray systems, enabling physicians to perform complex interventional procedures efficiently and accurately. Moreover, the players operating in the market offer technologically advanced solutions for the healthcare industry. A few of the advancements, product launches, and approvals are as follows:
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In January 2019, Abbott launched its sensor-enabled TachiCath Contact Force Ablation Catheter to treat atrial fibrillation. The product enables accurate imaging of the heart during an ablation procedure.
In June 2019, Abbott announced the launch of its HD grid mapping catheter, which is sensor-enabled in India. This product received USFDA clearance last year in May. The catheter employs a new design that allows physicians to see things differently, capturing and analyzing data in a novel manner to create highly detailed maps of the heart that better differentiate healthy from unhealthy tissue.
In September 2021, Biosense Webster (J&J) announced that post-approval procedures were successfully performed with the first-ever radiofrequency balloon ablation catheter at sites across Europe with Biosense Webster’s HELIOSTAR Balloon Ablation Catheter. In Europe, the HELIOSTAR Balloon Catheter was indicated for catheter-based cardiac electrophysiological mapping of the atria and cardiac ablation.
In April 2022, Medtronic announced the first patient enrollment in the EXPAND TAVR II Pivotal Trial, the first randomized clinical trial evaluating the self-expanding, supra-annular Evolut TAVR platform in patients with moderate, symptomatic aortic stenosis (AS), a population outside of current guidelines and indications for transcatheter aortic valve replacement (TAVR). The first patient in the EXPAND TAVR II pivotal trial was enrolled by the team led by Shigeru Saito, M.D. and Tomoki Ochiai, M.D. at Shonan Kamakura General Hospital in Kamakura, Japan.
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Electrophysiology Market: Key Insights
The electrophysiology market growth driven by significantly increasing prevalence of target diseases and an increasing global geriatric population. However, complications during cardiac procedures and the high price of the electrophysiological process are hampering the market growth.
Impact of COVID-19 Pandemic on Global Electrophysiology Market:
In 2020, the COVID-19 pandemic led to the implementation of stringent lockdown regulations across several countries, resulting in disruptions in the implementation of electrophysiology. Due to the spread of the COVID-19 pandemic, many countries and cities were shut down, causing the cancellation of treatments and doctor appointments. Patients suffering from critical issues need physical attention in the clinics to perform procedures. Cardiac issues are one of the most preventable public health challenges in all the regions. Due to the rising intensity of the COVID-19 pandemic, the patients could not visit the clinics. Moreover, there was limited availability of staff. Hence, the COVID-19 pandemic negatively impacted the global electrophysiology market.
As a result, health care systems were overburdened, and the delivery of medical care to all patients became a challenge globally. In addition, the medical device industry was facing the negative impact of the COVID-19 pandemic. As the COVID-19 pandemic unfolded, medical device companies found difficulties managing their operations. However, hospitals gradually resumed elective procedures as the COVID-19 recovery rate increased. Hence, the demand for medical equipment, including electrophysiology is expected to increase.
Significantly Increasing Prevalence of Target Diseases:
Increasing prevalence of arrhythmia, neurophysiology, and others is expected to increase the market demand. As per the data of WHO, from 2020, there was a huge increase in the use of electrophysiological procedures in diagnosing and treating cardiac and neurological diseases. Rising cardiac procedures such as angioplasty diagnose abnormal heartbeats or arrhythmia. According to the World Health Organization (WHO), cardiovascular disease (CVD) is one of the leading causes of worldwide death. The main factors contributing to the increasing prevalence of cardiovascular disease and stroke include family history, ethnicity, and age. Other risk factors include tobacco use, high blood pressure (hypertension), high cholesterol, obesity, lack of exercise, diabetes, unhealthy diet, and alcohol consumption. Diseases such as hypertension, diabetes, dyslipidemia, and obesity are increasingly contributing to the rising incidence of CVD.
Global Electrophysiology Market: segmental overview
Based on product, the electrophysiology market is segmented into electrophysiology ablation catheters, electrophysiology laboratory devices, electrophysiology diagnostic catheters, access devices, and others. In 2022, the electrophysiology laboratory devices segment held the largest market share, followed by electrophysiology ablation catheters. The electrophysiology market for the electrophysiology laboratory devices segment was worth US$ 3,272.60 million in 2022 and is projected to reach US$ 5,972.28 million by 2028; it is expected to grow at a CAGR of 10.5% during the forecast period. The market for the electrophysiology ablation catheters segment is estimated to be worth US$ 3,755.03 million by 2028 and is expected to grow at a CAGR of 10.9% during the forecast period.
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Based on indication, the electrophysiology market is segmented into atrial fibrillation (af), atrial flutter, wolff-parkinson, white syndrome (WPW), atrioventricular nodal reentry tachycardia (AVNRT), and others. The atrial fibrillation segment is likely to hold the largest share of the market in 2022. The electrophysiology market for the atrial fibrillation segment was worth US$ 3,033.39 million in 2022 and is projected to reach US$ 5,672.54 million by 2028; it is expected to grow at a CAGR of 11.0% during the forecast period.
Browse Adjoining Reports:
Electrophysiology Devices Market Forecast to 2028 - Covid-19 Impact and Global Analysis - by Product (Electrophysiology Ablation Catheters, Electrophysiology Laboratory Devices, Electrophysiology Diagnostic Catheters, Access Devices, Others); Indication (Atrial Fibrillation, Atrial Flutter, Atrioventricular Nodal Reentry Tachycardia (AVNRT), Wolff-Parkinson-White Syndrome (WPW), Others); End User (Hospitals, Clinics, Diagnostic Centers, Others), and Geography
Electrophysiology Catheter Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Product Type (Electrophysiology Diagnostic Catheters, and Electrophysiology Ablation Catheters); Application (Diagnosis and Monitoring, Treatment of Cardiac Arrhythmias, and Imaging and Mapping); End User (Hospitals, Ambulatory Surgical Centers, and Cardiac Catheterization Labs)
Intracardiac Echocardiography Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Product Type (Phased-array ultrasound Transducer tipped Catheter, Mechanical ultrasound transducer-tipped Catheter); Application (Electrophysiology, Left atrial Appendage Closure, Closure of Paravalvular leaks, Transcatheter aortic valve implantation, Others); Age (Adult, Paediatric); End User (Hospitals, Clinics, Ambulatory Surgical Centers, Others) and Geography
Electrophysiology Laboratory Device Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Type (as X-Ray Systems, 3D Mapping Systems, Ep Recording Systems, Remote Steering Systems, Intracardiac Echocardiography Systems, Radiofrequency (Rf) Ablation Generators); End-User (Pharmaceutical and Biotechnology Companies, Laboratories, Others)
Atrial Fibrillation Market Forecast to 2027 - COVID-19 Impact and Global Analysis by Treatment Type (Non-pharmacological, Pharmacological); End User (Hospitals, Ambulatory Surgical Centers, Cardiac Catheterization Laboratories); and Geography
Heart Block Treatment Market Forecast to 2028 - Covid-19 Impact and Global Analysis - by Type (Transcutaneous pacing (TCP), Pacemaker, Mediation, Follow-up electrophysiology study); Applications (Primary heart block, Second heart block, Third degree heart block)
Cardiovascular Information Systems Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Systems (CVIS, CPACS); Component (Hardware, Services, Software); Application (Cardiothoracic Center CVIS Solutions, Pacemaker or ICD Lab CVIS Solutions, Heart Failure Center CVIS Solutions, Catheterization Lab CVIS Solutions, Echocardiography Lab CVIS Solutions, Electrophysiology Lab CVIS Solutions, Ecg or Holter Monitoring CVIS Solutions, Nuclear Cardiology CVIS Solutions, Outpatient Clinic CVIS Solutions, Other); Mode of Operation (Onsite CVIS, Cloud Based, Web Based CVIS); End User (Hospitals, Diagnostic Centers)
Heart Tumor Market Forecast to 2028 - Covid-19 Impact and Global Analysis - by Type ( Primary tumor, Secondary tumor ); Diagnosis ( CT, MRI, Radionuclide imaging, Pet, Myocardial Biopsy, Cardiac Catherization, Electrophysiology test ); Treatment ( Surgery, Chemotherapy, Radiotherapy )
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