- Players are expected to gain profitable prospects from the hospital segment due to increase in preference of patient population toward opting healthcare services from hospitals
- Presence of many leading players makes North America a prominent market region
ALBANY, N.Y., May 27, 2022 /PRNewswire/ -- According to a study by Transparency Market Research (TMR), the global electrophysiology devices market is estimated to expand at a CAGR of 8.2% during the forecast period, 2022-2031.
Over the period of past few years, there has been a surge in the prevalence of diverse types of arrhythmias including atrial flutter, atrial fibrillation, atrial tachycardia, and ventricular tachycardia. This factor is leading to revenue-generation opportunities in the global electrophysiology devices market.
Key players in the electrophysiology devices market are focusing on R&Ds in order to develop technologically advanced products. Moreover, they are utilizing different strategies such as product innovations, product approvals, new product launches, partnerships, mergers, and agreements in order to stay ahead of the competition. Moreover, several enterprises in the electrophysiology devices market are focusing on their regional expansions. These factors are prognosticated to help in driving the future market outlook for electrophysiology devices.
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Electrophysiology Devices Market: Key Findings
- Individuals with diabetes, high blood pressure, obesity, and other cardiovascular diseases as well as older people are at higher risks of suffering from arrhythmias. Hence, a rise in this population globally is bolstering the electrophysiology devices market. Moreover, the atrial fibrillation segment of the electrophysiology devices market is estimated to maintain the largest share during the forecast period. This growth is ascribed to factors such as rise in the prevalence of high blood pressure, valvular heart diseases, cardiomyopathy, and coronary artery disease, which are considered key risk factors for AF.
- Several emerging economies across the world including Russia, Brazil, China, South Africa, and India are focusing on advancements of their healthcare infrastructures. This factor is leading to notable increase in the demand for electrophysiology devices from these nations, according to electrophysiology devices market demand analysis by TMR. Hence, the electrophysiology devices market is prognosticated to gain a valuation of US$ 14.8 Bn by 2031.
- Patient population from many developed nations across the globe are increasing inclination toward opting healthcare services provided by hospitals owing to several advantages associated with them including the guidance for electrophysiology devices and free online counselling. Owing to this factor, the hospitals segment is estimated to maintain its major market share for the electrophysiology devices market during the forecast period. Furthermore, the segment is prognosticated to be driven by a rise in the initiatives by medical professionals as well as government authorities for the promotion of healthcare services.
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Electrophysiology Devices Market: Growth Boosters
- Surge in the prevalence of cardiovascular disorders in many developing and developed nations is one of the key factors generating largest revenue share in the electrophysiology devices market
- Increase in awareness among people on the importance of health and surge in older population across the globe are creating sizable sales opportunities in the market for electrophysiology devices
Electrophysiology Devices Market: Regional Analysis
- The electrophysiology devices market in North America is estimated to maintain leading position during the forecast period owing to increase in sales of electrophysiology devices, rise in the number of new product approvals, partnerships, acquisitions, & collaborations in Canada and the U.S.
- Europe holds prominent position in the electrophysiology devices market owing to the presence of many well-entrenched companies in the region
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Electrophysiology Devices Market: Key Players
Some of the key players profiled in the report are:
- Acutus Medical, Inc.
- Abbott Laboratories
- Nihon Kohden Corporation
- F. Siemens AG
- Boston Scientific Corporation
- Biosense Webster, Inc.
- Medtronic plc
- GE Healthcare
- Biotronik SE & Co.KG
- Koninklijke Philips N.V.
- Microport Scientific Corporation
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Electrophysiology Devices Market Segmentation
- Electrophysiology Ablation Catheters
- Cryoablation Electrophysiology Catheters
- Radiofrequency Ablation Catheters
- Irrigated-tip Radiofrequency Ablation Catheters
- Conventional Radiofrequency Ablation Catheters
- Laser Ablation Systems
- Microwave Ablation Systems
- Navigational Advanced Mapping Accessories
- Electrophysiology Diagnostic Catheters
- Conventional Electrophysiology Diagnostic Catheters
- Steerable Diagnostic Catheters
- Fixed Diagnostic Catheters
- Advanced Electrophysiology Diagnostic Catheters
- Ultrasound Electrophysiology Diagnostic Catheters
- Electrophysiology Laboratory Devices
- Access Devices
- Atrial Fibrillation (AF)
- Atrioventricular Nodal Reentry Tachycardia (AVNRT)
- Wolff-Parkinson-White Syndrome (WPW)
- Atrial Flutter
- Diagnostic Centers
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Modernization of healthcare in terms of both infrastructure and services have pushed the healthcare industry to new heights, Stay Updated with Latest Healthcare Industry Research Reports by Transparency Market Research:
Electrophysiology Market: Growing population with indications of EPS is a key driver for EPY market. Rise in elderly population and growing number of adults with high blood pressure are key factors where EPS is indicated. Also, the rise in incidence of congenital diseases is a key trend boosting the EPY market.
Electrophysiology Diagnostic Catheters Market: Increase in mergers & acquisitions, strategic collaborations, and new product launches are expected to drive the global market during the forecast period. Additionally, strong product portfolio, high brand recognition, and strong geographic presence are expected to boost the electrophysiology diagnostic catheters market during the forecast period.
Electrophysiology Ablation Market: The global electrophysiology ablation market is prognosticated to experience high sales in the coming years, on account of several factors. The market is currently progressing at a rapid pace is several leading development are expected to fuel market growth.
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