Global Electrophysiology Market was valued US$ 3.94 Bn in 2017 and is expected to reach US$ 8.78 Bn by 2026, at a CAGR of 10.53% during a forecast period.
The electrophysiology market is segmented into product, indication, and region.
In terms of product, the global electrophysiology market is classified into p diagnostic catheters, EP laboratory devices, EP ablation catheters, and access devices. Based on an indication, global electrophysiology market is divided into atrial fibrillation, ventricular fibrillation, atrioventricular nodal reentry tachycardia, and Wolff-Parkinson-white, right atrial tachycardia, right atrial flutter, left atrial flutter, right ventricular tachycardia, and left ventricular tachycardia.
Based on regions, the global electrophysiology market is divided into five main regions are North America, Europe, Asia-pacific, South America and Middle East & Africa.
Global Electrophysiology Market
The branch of science that deals with the study related to the electric activity in the human body are known as electrophysiology. Electrophysiologists are qualified to perform special tests of your heart's electrical system.
Based on product, EP devices boosting the market owing to the rapid growth in population aging, improving & modernizing healthcare infrastructure, and the huge burden of target diseases in developing nations. Development of affordable electrophysiology devices is also the propelling the demand for EP devices in the global electrophysiology markets.
On the basis of indications, the atrial fibrillation segment is expected to account for the largest share of the market due to rapid growth in aging population and growing demand for atrial fibrillation procedures across the globe. Atrioventricular nodal reentry tachycardia indication is anticipated to exhibit the highest growth in CAGR due to the most common regular supraventricular arrhythmia in humans.
The major driving factor of the global electrophysiology market is the increasing aging population, technological development, and increasing healthcare funding & advanced features. Furthermore, the aging population is increasing rapidly with a higher risk of target diseases, cardiovascular diseases across the globe are growing, and developing economies is also propelling the market growth.
A lack of skilled & experienced electrophysiologist is hampering the market growth. Additionally, a hindering factor of the global electrophysiology market is pricing pressure on market players is growing, recall of products more frequently, and health care reforms are unfavorable. Additionally, unfavorable healthcare reforms, along with lack of proper reimbursement policies, are also responsible for hindering the growth of the market.
Geographically, North America accounts major share in the electrophysiology market followed by Europe. However, the Asia-Pacific market is expected to grow at the highest CAGR during the forecast period, due to an increasingly aging population, growing focus of multinational companies on emerging markets, improving and modernizing healthcare infrastructure, and high demand of EP devices in this region.
A key player operating in global electrophysiology market are Abbott Laboratories, Ge Healthcare, Johnson & Johnson, Siemens Healthcare, Medtronic Inc., C. R. Bard, Inc., Boston Scientific, St. Jude Medical, Inc., Biotronik SE & Co. KG, Koninklijke Philips N.V, Biosense, Webster, Inc, Hansen Medical, Pioneer Medical Devices, Catheter & Medical Design, VascoMed GmbH, Advanced Cardiac Therapeutics, Nihon Kohden Corporation, CardioFocus, Microport Scientific Corporation, and Sorin Group.
Scope of Global Electrophysiology Market:
Global Electrophysiology Market, by Product:
• P Diagnostic Catheters
• EP Laboratory Devices
• EP Ablation Catheters
• Access Devices
Global Electrophysiology Market, by Indication:
• Atrial Fibrillation
• Ventricular Fibrillation
• Atrioventricular Nodal Reentry Tachycardia
• Right Atrial Tachycardia
• Right Atrial Flutter
• Left Atrial Flutter
• Right Ventricular Tachycardia
• Left Ventricular Tachycardia
Global Electrophysiology Market, by Region:
• North America
• Asia Pacific
• South America
• Middle East & Africa
Key Player Operating In Global Electrophysiology Market:
• Abbott Laboratories
• Ge Healthcare
• Johnson & Johnson
• Siemens Healthcare
• Medtronic Inc.
• C. R. Bard, Inc.
• Boston Scientific
• St. Jude Medical, Inc.
• Biotronik SE & Co. KG
• Koninklijke Philips N.V
• Biosense Webster, Inc
• Hansen Medical
• Pioneer Medical Devices
• Catheter & Medical Design
• VascoMed GmbH
• Advanced Cardiac Therapeutics
• Nihon Kohden Corporation
• Microport Scientific Corporation
• Sorin Group
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