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2022

Electrophysiology Market

Electrophysiology Market Size, Share, Competitive Landscape and Trend Analysis Report, by Product, Indication and End User : Global Opportunity Analysis and Industry Forecast, 2021-2030

LS : Medical Devices & Supplies

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Author's: Linu Dash | Roshan Deshmukh
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Electrophysiology (EP) Market Statistics & Outlook 2030

The global electrophysiology market size was valued at $6,499.7 million in 2020, and is projected to reach $22,651.4 million by 2030, registering a CAGR of 14.4% from 2021 to 2030.  Electrophysiology is defined as the tests, which help physicians to understand the nature of abnormal heart rhythm. It accesses electrical heart activity and is used to diagnose arrhythmia or abnormal heartbeats. The procedure is conducted by inserting the catheter, followed by wire electrode, which measure the electrical activity through blood vessels, that enter the heart. The EP market devices such as ablation catheter, 3D mapping system, radio frequency generator, and access devices are available in electrophysiology laboratory, hospital or cardiac centers. The cardiac ablation procedure is one of the most widely used procedure for treatment of atrial fibrillation.

The growth of the global electrophysiology market is majorly driven by increase in prevalence of cardiac arrhythmia such as atrial fibrillation, atrial flutter; rise in need for ablation and diagnostic catheter; increase in number of cardiac ablation procedure; and advancement in technology to manufacture electrophysiology devices. For instance, in 2021, Johnson & Johnson, a medical device company, reported that around 7 million, 14 million, and 20 million populations are diagnosed with atrial fibrillation, in U.S, Europe, and Asia-Pacific. Moreover, in June 2021, BioSig Technology, Inc., a medical technology company, innovate signal processing technology for electrophysiology, and highlight the clinical application of BioSig’s latest software for arrhythmia care.

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Furthermore, increase in number of approval for electrophysiology devise drives growth of the market. For instance, in January 2022, Abbott Laboratories, a pharmaceutical company, announced the U.S. Food and Drug Administration (FDA) clearance for EnSite X EP system with EnSite omnipolar technology for the treatment of patient suffering from atrial fibrillation.  In addition, increase in prevalence of chronic disease such as diabetic, hypertension, thyroids, drive the growth of the electrophysiology market. The person suffering from diabetics, hypertension are more prone to atrial fibrillation.  Moreover, increase in prevalence of geriatric population, who are more susceptible to cardiac arrhythmia diseases, due to aging effect propel growth of the market.

Furthermore, technological development in the pharmaceutical industry to manufacture advanced electrophysiology catheter is expected to provide remunerative opportunities for expansion of the global market during the forecast period. For instance, in June 2020, Boston Scientific Corporation, a medical device company, announced the launch of DIRECTSENSE technology, in U.S... It is a tool to monitor the effect of radiofrequency energy deliver, while conducting cardiac ablation procedure. Thus, presence of key manufacturing companies to manufacture and distribute electrophysiology products and rise in expenditure on healthcare products propel growth of the market. Initiatives taken by government and private organizations to develop pharmaceutical and medical device industry propel the growth of the market. According to the American College of Cardiology, in April 2021, announced the launch of electrophysiology device implant registry, as a part of National Cardiovascular Data Registry (NCDR).  However, the high cost is expected to restrict the electrophysiology (EP) market growth during the forecast period.

Global Electrophysiology Market Segmentation

The global EP market is segmented into product, indication, end user, and region. By product, the market is categorized into EP ablation catheters, EP laboratory devices, EP diagnostic catheters, access devices, and others. The EP ablation catheters is further subcategorized into cryoablation EP catheters, radiofrequency ablation catheters, microwave ablation systems, laser ablation systems, and navigational advanced mapping accessories. The radiofrequency ablation catheters segment is further divided into irrigated-tip radiofrequency ablation catheters, and conventional radiofrequency ablation catheters.

Electrophysiology Market
By Product
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EP ablation catheters segment held a dominant position in 2020 and would continue to maintain the lead over the forecast period.

 

The EP laboratory devices is further subcategorized into EP X-Ray systems, 3D mapping systems, EP recording systems, EP remote steering systems, and others. Further, the EP diagnostic catheters is further subcategorized into conventional EP diagnostic catheters, advanced EP diagnostic catheters, and ultrasound EP diagnostic catheters. The conventional EP diagnostic catheters segment is further divided into steerable diagnostic catheters, and fixed diagnostic catheters. On the basis of indication, it is divided into atrial fibrillation (AF), atrial flutter, Wolff-Parkinson-White syndrome (WPW), atrioventricular nodal reentry tachycardia (AVNRT) and others. Depending on end user, it is categorized into hospitals & cardiac centers, ambulatory surgery centers, and others.

Region wise, the electrophysiology (EP) market is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, France, the UK, Italy, and rest of Europe), Asia-Pacific (Japan, China, India, Australia, and rest of Asia-Pacific), and LAMEA (Brazil, Saudi Arabia, South Africa, and rest of LAMEA).

Electrophysiology Market
By Indication
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Atrial fibrillation (AF) segment held a dominant position in 2020 and would continue to maintain the lead over the forecast period.

 

Segment Review

Depending on product, the EP ablation catheters segment dominated the electrophysiology market in 2020, and this trend is expected to continue during the forecast period, owing to advancement in technology to manufacture innovative electrophysiology ablation catheter and increase in number of ablation procedure.

By indication, the atrial fibrillation segment was the major contributor in 2020, and is expected to maintain its lead during the forecast period, owing to increase in prevalence of atrial fibrillation, increase in geriatric population and development of electrophysiology diagnosis & ablation catheter by the medical device industry. On the basis of end user, the hospitals & cardiac segment dominated the electrophysiology market in 2020, and this trend is expected to continue during the forecast period, owing to increase in development of hospital infrastructure, and rise in initiative taken by government and private organization to develop hospitals facilities. However, the ambulatory surgical centers segment is expected to witness considerable growth during the forecast period, owing to advancements in technology in the healthcare sector and rise in demand for cardiac ablation procedure.

Electrophysiology Market
By End User
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Hospitals & cardiac centers segment is projected as one of the most lucrative segment.

 

North America garnered a major share in the electrophysiology market in 2020, and is expected to continue to dominate during the forecast period, owing to rise in prevalence of cardiac arrhythmia, increase in number of approval for electrophysiology devices, increase in number of cardiac ablation procedure and presence of key players, in the region. However, Asia-Pacific is expected to register highest CAGR of 15.1% from 2021 to 2030, owing to increase in prevalence of atrial fibrillation, advancement in technology in the field of electrophysiology, growth in health care expenditures, and rise in geriatric population.

Electrophysiology Market
By Region
2030
North America 
Europe
Asia-Pacific
LAMEA

North America was holding a dominant position in 2020 and would continue to maintain the lead over the analysis period.

 

Key Benefits for Stakeholders

  • The study provides an in-depth analysis of the EP industry, and the current trends & future estimations to elucidate imminent investment pockets.
  • It presents a quantitative analysis of the market from 2021 to 2030 to enable stakeholders to capitalize on the prevailing electrophysiology market opportunities.
  • Extensive analysis of the market based on procedures and services assists to understand the trends in the industry.
  • Key players and their strategies are thoroughly analyzed to understand the competitive outlook of the EP market.

Electrophysiology Market Report Highlights

Aspects Details
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By PRODUCT
  • EP ablation catheters
    • Radiofrequency ablation catheters
    • Irrigated-tip radiofrequency ablation catheters
    • Conventional radiofrequency ablation catheters
    • Microwave ablation systems
    • Laser ablation systems
    • .Navigational advanced mapping accessories
  • EP laboratory devices
    • EP X-Ray systems
    • 3D mapping systems
    • EP recording systems
    • EP remote steering systems
    • Others
  • EP diagnostic catheters
    • Conventional EP diagnostic catheters
    • Steerable diagnostic catheters
    • Fixed diagnostic catheters
    • Advanced EP diagnostic catheters
    • Ultrasound EP diagnostic catheters
  • Access devices
  • Others
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By INDICATION
  • Atrial fibrillation (AF)
  • Atrial flutter
  • .Wolff-Parkinson-White Syndrome (WPW)
  • Atrioventricular Nodal Reentry Tachycardia (AVNRT)
  • Others
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By END USER
  • Hospitals & cardiac centers
  • .Ambulatory surgery centers
  • Others
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By Region
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Key Market Players

Biotronik SE & Co. KG, Siemens Healthineers AG, GE Healthcare, MICROPORT SCIENTIFIC CORPORATION, ABBOTT LABORATORIES, Koninklijke Philips N.V., Johnson & Johnson Services, Inc., Medtronic plc. (Zephyr Technology Corporation), BOSTON SCIENTIFIC CORPORATION, CardioFocus, Inc.

Analyst Review

This section provides opinions of the top-level CXOs operating in the global electrophysiology market. According to the insights of CXOs, the global electrophysiology market is expected to exhibit high growth potential attributable to factors such as growth in technologies in the pharmaceutical and medical device industry for manufacturing electrophysiology catheters; increase in prevalence of cardiac arrhythmia, such as atrial fibrillation, atrial flutter; and surge in number of approvals by the U.S. Food and Drug Administration (FDA) for advanced electrophysiology devices. Furthermore, the electrophysiology market has gained interest of medical technology manufacturing companies, owing to surge in demand for 3D mapping catheters, diagnostic catheters, and ablation catheters. Moreover, increase in number of geriatric populations, who are highly prone to atrial fibrillation, owing to change in weaking of arteries, notably contributes toward growth of the market.

CXOs further added that North America is expected to witness highest growth, in terms of revenue, owing to rise in prevalence of cardiac arrhythmia, increase in number of approvals for electrophysiology catheters, and strong presence of key players.

Author Name(s) : Linu Dash | Roshan Deshmukh
Frequently Asked Questions?

The total market value of electrophysiology market is $6,499.7 million in 2020.

The forecast period in the report is from 2021 to 2030

The market value of electrophysiology Market in 2021 was $6,759.7 million

The base year for the report is 2020.

Yes, electrophysiology companies are profiled in the report

The top companies that hold the market share in electrophysiology market are Abbott Laboratories, Biotronik SE & Co. KG, Boston Scientific Corporation, CardioFocus, Inc., GE Healthcare, Koninklijke Philips N.V., Johnson & Johnson, Inc., Medtronic Plc., MicroPort Scientific Corporation, and Siemens Healthineers AG

Asia-Pacific is expected to register highest CAGR of 15.1% from 2021 to 2030, owing to increase in prevalence of atrial fibrillation, advancement in technology in the field of electrophysiology, growth in health care expenditures, and rise in geriatric population

The key trends in the electrophysiology market are increase in prevalence of cardiac arrhythmia such as atrial fibrillation, atrial flutter; rise in need for ablation and diagnostic catheter; increase in number of cardiac ablation procedure; and advancement in technology to manufacture electrophysiology devices

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Electrophysiology Market

Global Opportunity Analysis and Industry Forecast, 2021-2030