About Electrophysiology
Electrophysiology refers to use test performed to assess your heart's electrical system or activity and is used to diagnose, monitoring abnormal heartbeats and treatment of heart disease. Electrophysiology market has high growth prospects owing to increasing patient pool globally. For instance, according to World Health Organization (WHO) report, in 2017, cardiovascular diseases caused 3.9 million deaths in Europe and in 2018, cardiovascular diseases accounted for nearly 836,546 deaths in the United States. This growth is primarily driven by rapid growth in geriatric population and growing prevalence of cardiovascular diseases which is expected to drive the demand for electrophysiology over the forecasted period.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
The electrophysiology market is expected to experience sustained growth in the coming years, driven by the factors mentioned above. Continuous innovation, coupled with growing awareness of cardiac arrhythmias and advancements in treatment options, will ensure the electrophysiology market remains a vibrant and competitive space, contributing to improved patient care and outcomes. Analyst at AMA Research estimates that United States Players will contribute the maximum growth to Global Electrophysiology market throughout the forecasted period. Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Abbott Laboratories (United States), Biosense Webster, Inc. (United States), BIOTRONIK SE & Co. KG (Germany), Boston Scientific Corporation (United States), GE Healthcare (United Kingdom), Koninklijke Philips N.V. (Netherland) and Medtronic, Inc. (United States) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research coverage are AtriCure (United States), Microport Scientific Corporation (China), St. Jude Medical, Inc. (United States), Siemens AG (Germany) and Johnson & Johnson (United States).
Segmentation Overview
AMA Research has segmented the market of Global Electrophysiology market by Type (EP Diagnostic Catheters, EP Laboratory Devices and EP Ablation Catheters) and Region.
On the basis of geography, the market of Electrophysiology has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Distribution Channel, the sub-segment i.e. Online Retail will boost the Electrophysiology market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Indication , the sub-segment i.e. Atrial Fibrillation will boost the Electrophysiology market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Increasing Prevalence of Atrial Fibrillation and Emergence of Advanced Electrophysiology Diagnostic Catheters
Market Growth Drivers:
Rapid Growth in Geriatric Population and Growing Prevalence of Cardiovascular Diseases
Challenges:
Lack of Advanced Healthcare Infrastructure in the Emerging Economies
Restraints:
Lack of Skilled Professionals to Operate Electrophysiology and High Cost Associated With Electrophysiology Devices
Opportunities:
Growing Demand for EP Ablation Catheters for the Treatment of Cardiac Arrhythmia and Increasing Demand from the Emerging Economies Owing To Growth in Healthcare Infrastructure
Market Leaders and their expansionary development strategies
In November 2023, Medtronic joins forces with a pharmaceutical company to investigate the combined use of DBS and novel drugs for treating Parkinson's disease and other neurological conditions.
In December 2023, Medtronic unveils the Intellineura Neurostimulation System, combining deep brain stimulation (DBS) with advanced brain mapping technology for personalized treatment of neurological disorders.
"According to the Food and Drug Administration, reprocessed electrophysiology catheters are intended for temporary intracardiac sensing, recording, stimulation, and electrophysiological mapping of cardiac structures."
Key Target Audience
Medical Institutes, Healthcare Companies, Government Regulatory Authorities, Research Laboratories and Academic Institutes, Clinical Research Organizations (CROs), Research and Development Companies and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.