Major electrophysiology market players include Abbott Laboratories, Biosense Webster (Johnson & Johnson), Medtronic, Japan Lifeline and Boston Scientific Corporation.
Selbyville, Delaware, Oct. 18, 2021 (GLOBE NEWSWIRE) --
The electrophysiology market size is anticipated to record a valuation of USD 10 billion by 2027, according to the most recent study by Global Market Insights Inc. Expanding adoption of electrophysiology (EP) for treatment of structural heart diseases will drive the market growth. Growing cases of atrial fibrillation among other types of cardiac arrhythmias will foster the electrophysiology market expansion. As per the data from the Stroke Alliance for Europe, population aged above 55 years suffering from atrial fibrillation is expected to increase by two folds from 8.8 million in 2010 to 17.9 million in 2060. In addition, booming geriatric patients possess huge risk for various cardiac rhythm disorders, further leading to elevated risk of stroke. Hence, timely treatment becomes indispensable; thereby creating demand for effective treatment modalities including electrophysiology.
The preference for minimally invasive therapies has grown significantly in the past few years. Ablation is a minimally invasive technique to treat heart rhythm disorders. This treatment is being used as a key procedure due to its significant efficacy, in place of therapeutic agents. Moreover, ablation procedure has revolutionized the treatment for atrial fibrillation. Thus, with growing prevalence of atrial fibrillation and application of ablation procedure in various other arrhythmias, the market will showcase robust growth in the coming years.
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Electrophysiology (EP) laboratory devices segment is poised to witness 10.4% growth rate till 2027 led by the innovations in intracardiac imaging and mapping technology. Several companies have introduced high-end devices including four-dimension imaging technology that offers real-time and precise localization of heart dysrhythmia. Further, with growing usage of laboratory systems in electrophysiology ablation procedures, the segment will experience considerable growth during the forecast timeline.
Atrial tachycardia segment in the electrophysiology market is projected to reach USD 560 million by 2027 owing to the growing cases of atrial tachycardia followed by its increasing procedure volume. For instance, the ablation procedures for atrial tachycardia are observed to have risen in the historic period, especially in China and Vietnam. Furthermore, growing incidence of diabetes, drug consumption, physical and mental stress significantly contribute towards development of this disease. Increasing acceptance of minimally invasive technologies as treatment modality will further suffice the segment growth during the forecast timeframe.
Electrophysiology/catheterization laboratories segment is estimated to attain a CAGR of 13.5% through 2027. Improving infrastructure and expanding number of catheterization and EP laboratories in emerging countries is spurring the market progression. Changing customer preference towards less invasive procedures has led to high demand for ablation and endovascular procedures. EP laboratories offer focused treatment for cardiac arrhythmias with ablation and high-quality diagnostic catheters. Additionally, with growing awareness and benefit of shorter stay, the patient visits are predicted to increase, thereby influencing the segment demand.
U.S. electrophysiology market size was over USD 1.2 billion in 2020. Strong foothold of established companies in the country augments the industry growth. Launch of innovative technologies coupled with their substantial penetration and adoption trend will further impact the industry expansion. Moreover, growing pervasiveness of cardiovascular disorders and associated risk factors will stimulate the U.S. electrophysiology business growth in the coming years.
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Prominent players operating in the electrophysiology market are Abbott Laboratories, Biosense Webster (Johnson & Johnson), Medtronic, Japan Lifeline and Boston Scientific Corporation. Notable industry leaders are engaged in expansion strategies with the help of product launch partnerships and collaboration agreements.
Table of Contents (ToC) of the report:
Chapter 3 Electrophysiology (EP) Market Insights
3.1 Industry segmentation
3.2 Industry landscape, 2016 – 2027 (USD Million)
3.3 Industry impact forces
3.3.1 Growth drivers
3.3.2 Industry pitfalls & challenges
3.4 Growth potential analysis
3.4.1 By product
3.4.2 By indication
3.4.3 By end-use
3.5 COVID-19 impact analysis
3.6 Regulatory landscape
3.7 Porter’s analysis
3.8 Competitive landscape, 2020
3.9 PESTEL analysis
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