NEW
YORK, May 14, 2024 /PRNewswire/ -- The
global electrophysiology market size is
estimated to grow by USD 6.09 bn from
2024-2028, according to Technavio. The market is estimated to grow
at a CAGR of 10.71% during the forecast
period.
For more insights on the forecast market size and historic data
(2018 - 2022) - Download Free sample report in a
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Forecast
period
|
2024-2028
|
Base Year
|
2023
|
Historic
Data
|
2018 - 2022
|
Segment
Covered
|
Product (Lab devices,
Ablation catheters, Diagnostic catheters, and Access devices),
End-user (Hospitals and cardiac centers and ASCs), and Geography
(North America, Europe, Asia, and Rest of World (ROW))
|
Region
Covered
|
North America, Europe,
Asia, and Rest of World (ROW)
|
Key companies
profiled
|
Abbott Laboratories,
Acutus Medical Inc., APN Health LLC, Asahi Kasei Corp., BIOTRONIK
SE and Co. KG, Boston Scientific Corp., CathRx Pty Ltd., EP
Solutions SA, EPMap System GmbH, GE Healthcare Technologies Inc.,
Imricor Medical Systems Inc., Japan Lifeline Co. Ltd., Johnson and
Johnson, Koninklijke Philips N.V., Medtronic Plc, Merit Medical
Systems Inc., MicroPort Scientific Corp., OSYPKA AG, Siemens AG,
and Stereotaxis Inc.
|
Key Market Trends Fueling Growth
The electrophysiology market is revolutionized by technological
advancements, offering enhanced customer interaction.
Electrophysiology, a cardiology technology, effectively controls
and treats arrhythmia, a major cardiac disorder causing 15%-20% of
total deaths. EP ablation catheters, diagnostic catheters, and
laboratory devices are essential for treating arrhythmias,
including Atrial Fibrillation (AF). Advanced devices employ
AI-powered mapping, 3D systems, and minimally invasive procedures.
Hospitals, cardiac centers, ambulatory surgery centers, and
reimbursement policies are significant market players. Next-gen
devices leverage digital cloud technology, telemedicine, and
digital health. Laws regulate the use of imaging modalities like
CMR, CT, echocardiography, fluoroscopy, and electro-anatomic
mapping in electrophysiological techniques, such as catheter
ablation. Other applications include gastroenterology, neurology,
pain management, and surgical interventions.
Market Challenges
• The
electrophysiology (EP) market faces challenges due to high product
costs and limited reimbursements for arrhythmia procedures in many
countries. Developed economies, like the US, offer reimbursements,
boosting adoption in North
America. In contrast, developing countries, such as
India and China, lack government support, forcing
patients to rely on private insurance or pay out-of-pocket. The
competitive EP market prioritizes pricing, with specialized
healthcare workers, including electrophysiologists and nurses, in
high demand. Key technologies, such as ablation catheters, 3D
mapping systems, and radio frequency generators, are essential for
cardiac ablation procedures to treat abnormal heart rhythms,
including atrial flutter, in chronic diseases like hypertension,
diabetes, and the geriatric population. Regulatory support and
medical device licensing are crucial for market growth, addressing
labor shortages through training programs and practical
experience.
Research report provides comprehensive data on impact of trend,
driver and challenges - Buy Report
Segment Overview
This electrophysiology market report extensively covers market
segmentation by
- Product
- 1.1 Lab devices
- 1.2 Ablation catheters
- 1.3 Diagnostic catheters
- 1.4 Access devices
- End-user
- 2.1 Hospitals and cardiac centers
- 2.2 ASCs
- Geography
- 3.1 North America
- 3.2 Europe
- 3.3 Asia
- 3.4 Rest of World (ROW)
1.1 Lab devices- The Electrophysiology (EP)
market represents a significant segment of medical care, driven by
the growing prevalence of chronic diseases such as hypertension,
high blood pressure, diabetes, and the increasing geriatric
population. Patient outcomes depend on the availability of advanced
EP laboratory facilities, equipped with expensive equipment
including ablation catheters, 3D mapping systems, radio frequency
generators, and access devices. Regulatory support and medical
device licensing are crucial for the expansion of this market.
Healthcare providers invest capital in establishing EP laboratories
to offer specialized healthcare services for patients with abnormal
heart rhythms, including atrial flutter and arrhythmia. Qualified
electrophysiologists and specialized healthcare workers, including
nurses and technicians, require practical experience, hands-on
training, clinical shadowing, and mentoring to perform complex EP
procedures, such as cardiac mapping and catheter-based ablation.
Labor shortages in the EP field necessitate the development of
training programs to enhance the abilities of healthcare
professionals. Technological development in EP market devices, such
as radiofrequency energy systems, enables more effective and less
invasive treatments for various cardiac conditions. The economic
impact of EP laboratories on healthcare spending is substantial, as
they contribute to improved patient outcomes and reduced
hospitalizations for conditions like heart failure and stroke.
For more information on market segmentation with geographical
analysis including forecast (2024-2028) and historic data (2018 -
2022) - Download a Sample Report
Research Analysis
The Electrophysiology (EP) market encompasses a range of devices
and procedures used to diagnose and treat cardiovascular diseases,
particularly those related to abnormal heart rhythms such as
arrhythmias, including Atrial Fibrillation. Minimally invasive
procedures, like those utilizing EP market devices such as ablation
catheters and 3D mapping systems, have revolutionized the field.
These advanced electrophysiology devices employ radio frequency
generators and access devices to precisely target and ablate the
source of irregular heartbeats. Reimbursement policies play a
crucial role in the market's growth, with next-gen devices like
AI-powered mapping systems and telemedicine solutions leveraging
digital cloud technology to enhance accessibility and efficiency.
Hospitals continue to invest in these advanced technologies to
improve patient outcomes.
Market Research Overview
The Electrophysiology market encompasses a range of diagnostic
and therapeutic interventions that focus on the study and treatment
of electrical activities in the body. This field is crucial in
understanding various neurological and cardiac disorders. Key
technologies in this market include mapping systems, ablation
devices, and diagnostic tools. These technologies are used in
procedures such as electroencephalography (EEG), electromyography
(EMG), and electrocardiography (ECG). The market is driven by
factors such as an aging population, rising prevalence of
neurological and cardiac disorders, and technological advancements.
Companies are investing in research and development to create more
accurate and less invasive devices. The market is expected to grow
significantly in the coming years, with a focus on minimally
invasive procedures and personalized medicine. Cardiac
electrophysiology and neuroelectrophysiology are two major segments
of this market, each with unique challenges and opportunities.
Table of Contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
- Product
-
- Lab Devices
- Ablation Catheters
- Diagnostic Catheters
- Access Devices
- End-user
-
- Hospitals And Cardiac Centers
- ASCs
- Geography
-
- North America
- Europe
- Asia
- Rest Of World (ROW)
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix
About Technavio
Technavio is a leading global technology research and advisory
company. Their research and analysis focuses on emerging market
trends and provides actionable insights to help businesses identify
market opportunities and develop effective strategies to optimize
their market positions.
With over 500 specialized analysts, Technavio's report library
consists of more than 17,000 reports and counting, covering 800
technologies, spanning across 50 countries. Their client base
consists of enterprises of all sizes, including more than 100
Fortune 500 companies. This growing client base relies on
Technavio's comprehensive coverage, extensive research, and
actionable market insights to identify opportunities in existing
and potential markets and assess their competitive positions within
changing market scenarios.
Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/
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