Electrophysiology Devices Market is Set to Globally Reach US$ 20.80 Billion at 8.5% CAGR by 2033

According to Fact.MR, a market research and competitive intelligence provider, the global electrophysiological devices market is expected to reach US$ 20.80 billion by the end of 2033, from its estimated US$ 9.20 billion in 2023. Electrophysiology (EP) studies help medical professionals understand the nature of an abnormal heart rhythm. Growth in the electrophysiology market as a whole is being positively impacted by an increase in atrial fibrillation cases.

Atrial fibrillation (AF), one of the most prevalent types of cardiac arrhythmia, has a substantial financial impact on both the healthcare system and the economy. Over the past ten years, AF rates have significantly increased in western nations due to the high incidence of obesity, a sedentary lifestyle, and smoking habits.

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Key Takeaways from Market Study

From 2023 to 2033, the global market for electrophysiological devices is expected to grow at a compound annual growth rate (CAGR) of 8.5%.
Over the forecast period, the Japanese market is expected to grow at a compound annual growth rate of 8%.
Through 2033, sales of electrophysiology ablation catheters are expected to increase at a CAGR of 9.5%.
Over the next ten years, the demand for electrophysiological diagnostic catheters is expected to grow at a CAGR of 8%.

"Electrophysiology device sales are being driven by the rapidly growing senior citizen population, who are more susceptible to heart-related issues," says a Fact.MR analyst.

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Recent Developments

According to a January 2022 release from the pharmaceutical business Abbott Laboratories, the EnSite X Electrophysiology system with EnSite omnipolar technology received US Food and Drug Administration (USFDA) certification for the treatment of individuals with atrial fibrillation.
Beaumont Health announced the launch of a new atrial fibrillation ablation treatment in March 2021 in an effort to ascertain whether pulsed field ablation may be used to treat individuals with irregular heartbeats.
December 2020 is when Acutus Medical stated that the AcQBlate Force Sensing Ablation System will be available in Europe. The firm has obtained the CE mark for both the Qubic Force sensor module and the AcQBlate Force ablation catheter.

Competitive Landscape

Abbott Laboratories, Inc., Biosense Webster, Inc., Biotronik SE & Co. KG, and Boston Scientific Corporation are market leaders in electrophysiological devices.

In order to seize any chances, several of the major companies in the electrophysiological devices market are heavily focussing on emerging markets and emphasizing local supply chain management. In accordance with regional marketing strategies, they also oversee pricing trends, product standards, and safety requirements.

Abbott Laboratories, Inc.
Biosense Webster, Inc.
Biotronik SE & Co. KG
Boston Scientific Corporation
CardioFocus, Inc.
Medtronic PLC
MicroPort Scientific Corporation
Nihon Kohden Corporation
Siemens Healthineers
Stereotaxis, Inc.

New Developments:

Untapped emerging markets in Asian nations like China and India offer excellent opportunities for investors to expand in the region. For example, in June 2021, Medtronic launched the Micra AV in India. With minimally invasive treatments, this compact, fully self-contained pacemaker provides AV block sufferers with state-of-the-art pacing technology.
In November 2021, Koninklijke Philips N.V. announced that it had purchased the French medical technology manufacturer Cardiologs. Philips' cardiac diagnostic and monitoring division will expand with the aid of the purchase, which will leverage the company's cloud and artificial intelligence capabilities.
In February 2022, Medtronic announced that the FDA had extended clearance for the Freezor and Freezor Xtra Cardiac Cryoablation Focal Catheters. These catheters are the first and only ones licensed to treat juvenile Atrioventricular Nodal Reentrant Tachycardia, a condition that is becoming more common.

Key Segments of Electrophysiology Devices Industry Research

By Product :
Electrophysiology Ablation Catheters
Electrophysiology Diagnostic Catheters
Electrophysiology Laboratory Devices
Access Devices

By Indication :
Atrial Fibrillation (AF)
Atrial Flutter (AFL)
Atrioventricular Nodal Reentrant Tachycardia (AVNRT)
Wolff-Parkinson-White Syndrome (WPW)
Bradycardia

By End User :
Hospitals
Ambulatory Surgical Centers
Laboratories

By Region :
North America
Latin America
Europe
East Asia
South Asia & Oceania
MEA

More Valuable Insights on Offer

Fact.MR, in its new offering, presents an unbiased analysis of the global electrophysiology devices market, presenting historical demand data (2018 to 2022) and forecast statistics for the period of 2023 to 2033.

The study divulges essential insights on the market on the basis of product (electrophysiology ablation catheters, electrophysiology diagnostic catheters, electrophysiology laboratory devices, access devices), indication (atrial fibrillation (AF), atrial flutter (AFL), atrioventricular nodal reentrant tachycardia (AVNRT), Wolff-Parkinson-White Syndrome (WPW), bradycardia), and end user (hospitals, ambulatory surgical centers, laboratories), across five major regions of the world (North America, Europe, Asia Pacific, Latin America, and MEA).

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