The global electrophysiology devices market is anticipated to grow at a considerable CAGR of 8.3% during the forecast period (2024-2031). The key factor to drive the market growth includes increasing cases of cardiovascular disease all across the globe. The US is a major market for electrophysiology devices due to the high cost of treatment. Approximately 18.2 million US adults have coronary artery disease in 2019 according to Centres of Disease Control and Prevention. Moreover, as per the American Heart Association, almost 130 million adults will be having heart disease by 2035 in the US.
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Moreover, significant activities have been witnessed in the electrophysiology devices market in the last couple of years. For instance, in January 2019, Medtronic Plc announced that it will be acquiring EPIX therapeutics that are involved in designing and manufacturing temperature-controlled cardiac ablation systems for the treatment of patients suffering from cardiac arrhythmias. After the completion of this acquisition, EPIX will be expanding the Medtronic cardiac ablation portfolio that will be offering various physicians a range of tools to treat patients with cardiac arrhythmias.
Earlier to this, in June 2018, Philips announced to acquire EPD solutions that provide image guidance in ablation catheter for cardiac arrhythmias. This technology aids in simplifying the navigation and treatment by delivering immediate access to treatment results and enhances overall procedure performance. This acquisition will be enabling Philips in developing a portfolio of interventional imaging systems for catheter ablation along with smart catheters. It will also allow the company to launch new technological solutions in image-guided cardiac arrhythmias treatments.
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Market Coverage
- Segment Covered-
o Product
o End-user
- Regions Covered-
o North America
o Europe
o Asia-Pacific
o Rest of the World
- Competitive Landscape- GE Healthcare, Abbott Laboratories, Biosense Webster, Inc., Boston Scientific Corp., Johnson & Johnson Services, Inc., and Medtronic PLC
Key questions addressed by the report
- What is the market growth rate?
- Which segment and region dominate the market in the base year?
- Which segment and region will project the fastest growth in the market?
- How COVID-19 impacted the market?
o Deviation from the pre-COVID-19 forecast
o Most affected region and segment
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
Global Electrophysiology Devices Market Report Segment
By Products
- Electrophysiology Monitoring Devices
- Electrophysiology Laboratory Devices
- Electrophysiology Treatment Devices
- Electrophysiology Catheter
By End-Users
- Hospitals and clinics
- Ambulatory Surgical Centres
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