Electrophysiology Market Size to Reach USD 15.75 Billion in 2030 | Emergen Research

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VANCOUVER, BC, Jan. 12, 2023 /PRNewswire/ -- Electrophysiology Market size reached USD 7.08 Billion in 2021 and is expected to register a CAGR of 9.2% during the forecast period, according to latest analysis by Emergen Research. Electrophysiology market revenue growth is driven by factors such as growing incidences of arrhythmias and atrial fibrillation, increased use of non-invasive cardiac mapping, and high level of ultrasound guidance in the EP lab.

Increased usage of advance technologies is also driving market revenue growth. Cryoablation, ultrasonic ablation, laser ablation, and enhanced mapping technologies are examples of cutting-edge medical procedures that are expected to increase demand for electrophysiology equipment. For example, on January 12, 2022, Abbott Laboratories, a pharmaceutical firm, announced U.S. Food and Drug Administration (FDA) approval for the EnSite X EP system with EnSite omnipolar technology for the treatment of atrial fibrillation patients.

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The rise in chronic diseases such as diabetes, hypertension, and thyroid disorders is also driving the electrophysiology industry. Individuals with diabetes and hypertension are more susceptible to atrial fibrillation. In addition, increasing prevalence of geriatric population, who are particularly sensitive to cardiac arrhythmia illnesses owing to their age, drives market expansion.

Drivers:

The global electrophysiology devices market has been growing due to the rising prevalence of cardiac arrhythmias such as atrial flutter, atrial fibrillation, ventricular tachycardia, and atrial tachycardia. Arrhythmias are most common in the elderly and those who suffer from hypertension, diabetes, obesity, or other cardiovascular illnesses. The market growth for electrophysiological devices is expected to be boosted by this factor. According to the NCBI, the CDC, and the "Sign Against Stroke in Atrial Fibrillation" campaign by the Polish Foundation, more than 2.6 million people in the United States, around 6 million people in Europe, and nearly 8 million people in China suffer from atrial fibrillation. More than a 2.5-fold increase is predicted by 2050 as the global elderly population grows alongside the prevalence of lifestyle-related disorders. Patients experiencing arrhythmias are increasingly using cardiac magnetic resonance imaging (MRI). All of these variables are expected to boost demand for electrophysiological products over the forecast period.

Restraints:

In implantable EP systems, the leads connecting the machine to the heart are a common cause of problems. The leads of an implantable cardioverter defibrillator (ICD), pacing device, or cardiac resynchronization therapy (CRT) system are frequently considered the system's weakest link due to normal wear and tear or infection. Surgical implantation is required for the leads of conventional medical implants, which increases the complexity of the surgery, the cost, and the infection risk for the patient. Consequently, this restricts the market's potential for growth.

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Growth Projections:

Electrophysiology Market is expected to register a CAGR of 9.20% over the forecast period and revenue is projected to increase from USD 7.08 Billion in 2021 to USD 15.75 Billion in 2030. High rate of technological advancements is expected to support revenue growth of the market.

Current Trends and Innovations:

Smart and cutting-edge technology is rapidly being included by manufacturers. Modern cardiac electro-mapping equipment, including scanners for basket catheters of the next generation, allows for quick, accurate, and comprehensive mapping of heart tissue. High-precision lesion creation is made possible by the cutting-edge technology of contact force-sensing ablation catheters. Companies have been at the forefront of a movement to improve their electrophysiological product offerings. The electrophysiology market has seen several mergers and acquisitions as companies look to broaden their product lines.

Moreover, on May 4, 2022, CathVision, a medical technology company, announced that their ECGenius EP Recording System had received FDA 510(k) clearance, allowing it to be used in clinical practice. Electrophysiologists are able to better diagnose and treat complex atrial arrhythmias like atrial fibrillation with the use of the company's ECGenius EP recording technology and patented hardware amplifier, which records high-fidelity, low-noise cardiac electrograms (AF).

Multiple electrophysiological catheters and mapping systems have recently been approved and released by several companies, including Johnson & Johnson (Biosense Webster, Inc.), Acutus Medical, Inc., Abbott Laboratories, and Microport Scientific Corporation.

Strategic Initiatives:

Major companies included in the market report Abbott., Medtronic, Boston Scientific Corporation, Koninklijke Philips N.V., General Electric, Siemens, Stereotaxis, Inc., Merit Medical Systems, ATRICURE, INC, Biotronik.

• On 29 January 2021, FARAPULSE Inc. recently announced that its FARAPULSE Pulsed Field Ablation (PFA) device for the therapy of Paroxysmal Atrial Fibrillation received the Conformité Européenne (CE) Mark (AF). The approval makes FARAPULSE the first firm in the industry to commercial a cardiac PFA system and authorizes the system's commercialization within the European Union and other CE Mark-designated regions.

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Scope of Research

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Emergen Research has segmented electrophysiology market on the basis of product, indication, end-use, and region:

• Product Outlook (Revenue, USD Billion; 2019-2030)
• Electrophysiology Laboratory Devices
• 3D Mapping Systems
• Radiofrequency Ablation Systems
• Intracardiac Echocardiography (ICE) Ultrasound Imaging Systems
• Electrophysiology X-ray Systems
• Electrophysiology Remote Magnetic
• Robotic Navigation Systems
• Electrophysiology Ablation Catheters
• Radiofrequency (RF) Ablation Catheters
• Microwave Ablation (MWA) Systems
• Laser Ablation Systems
• EP Diagnostic Catheters
• Access Devices
• Others
• Indication Outlook (Revenue, USD Billion; 2019-2030)
• Atrial Fibrillation
• Atrial Flutter
• Atrioventricular Nodal Reentry Tachycardia (AVNRT)
• Wolff-Parkinson-White Syndrome (WPW)
• Others
• End-use Outlook (Revenue, USD Billion; 2019-2030)
• Hospitals & Cardiac Center
• Ambulatory Surgery Centers
• Others
• Regional Outlook (Revenue, USD Billion, 2019 - 2030)
• North America
  
• U.S.
• Canada
• Europe
  
• Germany
• U.K.
• France
• Italy
• pain
• Rest of Europe
• Asia Pacific
  
• China
• Japan
• South Korea
• India
• Australia
• Rest of APAC
• Latin America
  
• Brazil
• Mexico
• Rest of LATAM
• Middle East & Africa
  
• UAE
• Saudi Arabia
• Africa
• Rest of Middle East

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