Electrophysiology Market by Product (Ablation Catheters, Diagnostic Catheters, Laboratory Devices, Access Devices, others), by Target Disease (Atrial Fibrillation, Atrioventricular Nodal Reentry Tachycardia, Atrial Flutter, Wolff-Parkinson-White Syndrome, others) - Global Opportunity Analysis and Industry Forecast, 2020 – 2030
Industry: Healthcare | Publish Date: 05-Aug-2020 | No of Pages: 477 | No. of Tables: 271 | No. of Figures: 241 | Format: PDF | Report Code : N/A
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Market Definition:
The global Electrophysiology Market size was valued at USD 5.20 billion in 2019, and is expected an elevation of USD 15.75 billion by 2030, witnessing a growth of over 10.6% CAGR from 2020-2030.
Heart Arrhythmias are associated with substantial morbidity. Where Atrial fibrillation affects at least 2.3 million people in the United States alone, it affects about 20,000 people in Canada. The number of people suffering from supraventricular tachycardia every year were more than 90,000 in the United States. Ventricular arrhythmias cause 75% to 80% cases of sudden cardiac death, that results in 184 000 to 450 000 demises in the United States per annum.
The Electrophysiology (EP) Technology helps in the assessment of electrical impulses of the heart. It helps in diagnosing and managing the Heart Arrhythmia. The fast increase in the aging population is accountable for increasing heart failure rates. The significant advancement in the EP technologies have improved the ability to target the areas of the heart perpetuating that leads to Cardiac Arrhythmias.
Market Dynamics and Trends:
The improving and modernizing healthcare infrastructure as well as huge burden of target diseases in developing nations has proliferated the electrophysiology market growth. Furthermore, the number of ablation procedures for the treatment of atrial fibrillation will increase the electrophysiology market.
The Electrophysiology Market shall significantly spur over the forthcoming years due to the escalating risk of developing various rhythm disorders including alcoholism, unhealthy eating habits, sedentary lifestyle, obesity, and smoking, among few others.
The factors including increasing prevalence of target diseases, technological advancements in the field of electrophysiology, and increasing demand for catheter ablation procedures has majorly driven the electrophysiology market. Further, increasing preference of EP catheter ablation for cardiac arrhythmia treatment.
However, high cost of the EP device and dearth of skilled electrophysiologists may limit the growth of the electrophysiology market. The lucrative opportunities in emerging economies and rising awareness regarding the EP technologies will create new opportunities for the market growth in future.
Market Segmentations and Scope of the Study:
The global Electrophysiology market share has been analyzed based on product, target disease, and geography. Based on the product, the market has been segmented into ablation catheters, diagnostic catheters, laboratory devices, access devices, and others.
The ablation catheters segment has been sub-segmented into cryoablation EP catheters, radiofrequency ablation catheters, microwave ablation systems, laser ablation systems, and others. The laboratory devices segment is further sub-segmented into EP x-ray systems, 3D mapping systems, EP recording systems, EP remote steering systems, and others. The diagnostic catheters segment is further sub-segmented into conventional EP diagnostic catheters, advanced EP diagnostic catheters, and ultrasound EP diagnostic catheters. Based on target disease, the market is bifurcated into atrial fibrillation, atrioventricular nodal reentry tachycardia, atrial flutter, Wolff-Parkinson-White Syndrome, and others. Geographic breakdown and analysis of each of the previously mentioned segments include regions comprising North America, Europe, Asia-Pacific, and RoW.
Geographical Analysis:
As the North America region denote a higher adoption of the electrophysiology technology, it will hold the highest market share during the forecast period. This is attributable to the factors including presence of well-established healthcare amenities, rise in the number of arrhythmia & heart failure cases, and technological advancements.
The emerging economies, specifically the Asia-Pacific region shall witness increasing market size owing to increasing accessibility to healthcare facilities in the region, increasing medical tourism, and increasing incidences of heart failure cases.
Competitive Landscape:
The electrophysiology market, which is highly competitive, consists of number of major players. Companies, such as Abbott Laboratories, Biotronik SE and Co. KG, Boston Scientific Corporation, GE Healthcare, Koninklijke Philips N.V, Medtronic plc., Johnson and Johnson, Microport Scientific Corporation, Siemens Healthineers AG, Stereotaxis, Inc., CardioFocus, BioSig Technologies.
Recently, various developments have been taking place in the market. For instance, in January 2018, BioSig Technologies, a medical device company engaged in the development of a biomedical signal processing platform designed to address the demand for electrophysiology market, collaborated with Mr. Charles Austin and JK Advisors to scale up operational activities.
KEY BENEFITS:
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The electrophysiology market report provides the quantitative analysis of the current market and estimations through 2020-2030, that assists in identifying the prevailing market opportunities to capitalize on.
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The study comprises a deep dive analysis of the electrophysiology market trend including the current and future trends for depicting the prevalent investment pockets in the market.
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The information related to key drivers, restraints, opportunities and their impact on the electrophysiology market is given in the report.
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The competitive analysis of the market players along with their market share in the global electrophysiology market.
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The SWOT analysis and Porters Five Forces model is briefed in the study.
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Value chain analysis in the market study provides a clear picture of the stakeholders’ roles.
KEY MARKET SEGMENTS:
By Product
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Ablation Catheters
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Cryoablation EP Catheters
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Radiofrequency Ablation Catheters
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Microwave Ablation Systems
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Laser Ablation Systems
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Others
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Diagnostic Catheters
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Conventional EP Diagnostic Catheters
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Advanced EP Diagnostic Catheters
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Ultrasound EP Diagnostic Catheters
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Laboratory Devices
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EP X-Ray Systems
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3D Mapping Systems
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EP Recording Systems
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EP Remote Steering Systems
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Others
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Access Devices
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Others
By Target Disease
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Atrial Fibrillation
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Atrioventricular Nodal Re-Entry Tachycardia
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Atrial Flutter
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Wolff-Parkinson-White Syndrome
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Other
By Geography
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North America
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U.S.
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Canada
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Mexico
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Europe
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UK
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Germany
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France
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Italy
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Rest of Europe
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Asia-Pacific
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China
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India
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Japan
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Australia
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Rest of Asia-Pacific
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RoW
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Brazil
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Argentina
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Egypt
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Israel
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South Africa
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REPORT SCOPE AND SEGMENTATION:
|
Parameters |
Details |
|
Analysis Period |
2019–2030 |
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Base Year Considered |
2020 |
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Forecast Period |
2020–2030 |
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Market Size Estimation |
Billion (USD) |
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Market Segmentation |
By Product (EP Ablation Catheters, EP Laboratory Devices, EP Diagnostic Catheters, Access Devices) By Target Disease (Atrial Fibrillation, Atrial Flutter, Atrioventricular Nodal Reentry Tachycardia, Wolff-Parkinson-White Syndrome, Other Indication) |
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Geographical Segmentation |
North America (U.S., Canada, Mexico) Europe (UK, Germany, Italy, France, Rest of Europe), Asia-Pacific (China, Japan, Australia, India, Rest of APAC), Rest of the World (Brazil, Argentina, Egypt, Israel, South Africa) |
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Companies Profiled |
Abbott Laboratories, Biotronik SE and Co. KG, Boston Scientific Corporation, GE Healthcare, Koninklijke Philips N.V, Medtronic plc., Johnson and Johnson, Microport Scientific Corporation, Siemens Healthineers AG, Stereotaxis, Inc., CardioFocus, BioSig Technologies |
KEY PLAYERS
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Abbott Laboratories
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Biotronik SE and Co. KG
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Boston Scientific Corporation
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GE Healthcare
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Koninklijke Philips N.V
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Medtronic plc.
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Johnson and Johnson
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Microport Scientific Corporation
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Siemens Healthineers AG
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Stereotaxis, Inc.
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CardioFocus
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BioSig Technologies
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