The global electrophysiology devices market size reached US$ 5.7 Billion in 2022. Looking forward, the analyst expects the market to reach US$ 9.6 Billion by 2028, exhibiting a growth rate (CAGR) of 8.7% during 2023-2028.
Electrophysiology (EP) devices refer to various medical equipment that are used for the diagnosis and treatment of cardiological ailments. These devices analyze the electrical impulses of the heart and evaluate abnormal heartbeats. Some of the commonly used EP devices include implantable cardioverter defibrillators (ICDs), pacemakers, automated external defibrillators (AEDs), cryoablation EP catheters, radiofrequency ablation catheters and microwave and laser ablation systems. These devices send and receive electrical signals to and from the heart to regulate the heartbeat in case of an emergency. They are minimally invasive and also aid in removing dysfunctional heart tissues that can cause irregular heart rhythms.
The increasing prevalence of arrhythmia and other cardiovascular diseases (CVDs) across the globe is one of the key factors driving the growth of the market. Furthermore, the rising geriatric population, which is more susceptible to such medical ailments, is also providing a boost to the market growth. The increasing awareness regarding the benefits of EP devices that have minimal risks and higher success rates as compared to the traditionally used devices has created a positive outlook for the market. Additionally, the advent of innovative technologies, such as cryo-, laser and ultrasound ablation and advanced mapping systems, are also contributing to the market growth. Product manufacturers are developing variants that are compact and portable and are also suitable for patients suffering from hypertension, diabetes and other medical ailments. Other factors, including the increasing requirement of EP devices for continuous monitoring, diagnosis and treatment of CVDs in both residential and hospital settings, along with significant improvements in the healthcare infrastructure, are expected to drive the market further.
2. What is the expected growth rate of the global electrophysiology devices market during 2023-2028?
3. What are the key factors driving the global electrophysiology devices market?
4. What has been the impact of COVID-19 on the global electrophysiology devices market?
5. What is the breakup of the global electrophysiology devices market based on the product?
6. What is the breakup of the global electrophysiology devices market based on the indication?
7. What is the breakup of the global electrophysiology devices market based on the end user?
8. What are the key regions in the global electrophysiology devices market?
9. Who are the key players/companies in the global electrophysiology devices market?
Electrophysiology (EP) devices refer to various medical equipment that are used for the diagnosis and treatment of cardiological ailments. These devices analyze the electrical impulses of the heart and evaluate abnormal heartbeats. Some of the commonly used EP devices include implantable cardioverter defibrillators (ICDs), pacemakers, automated external defibrillators (AEDs), cryoablation EP catheters, radiofrequency ablation catheters and microwave and laser ablation systems. These devices send and receive electrical signals to and from the heart to regulate the heartbeat in case of an emergency. They are minimally invasive and also aid in removing dysfunctional heart tissues that can cause irregular heart rhythms.
The increasing prevalence of arrhythmia and other cardiovascular diseases (CVDs) across the globe is one of the key factors driving the growth of the market. Furthermore, the rising geriatric population, which is more susceptible to such medical ailments, is also providing a boost to the market growth. The increasing awareness regarding the benefits of EP devices that have minimal risks and higher success rates as compared to the traditionally used devices has created a positive outlook for the market. Additionally, the advent of innovative technologies, such as cryo-, laser and ultrasound ablation and advanced mapping systems, are also contributing to the market growth. Product manufacturers are developing variants that are compact and portable and are also suitable for patients suffering from hypertension, diabetes and other medical ailments. Other factors, including the increasing requirement of EP devices for continuous monitoring, diagnosis and treatment of CVDs in both residential and hospital settings, along with significant improvements in the healthcare infrastructure, are expected to drive the market further.
Key Market Segmentation
The report provides an analysis of the key trends in each sub-segment of the global electrophysiology devices market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on product, indication and end user.Breakup by Product:
- Treatment Devices
- Implantable Cardioverter Defibrillators (ICDs)
- Automated External Defibrillators (AEDs)
- Pacemakers
- CRT-P
- CRT-D
- Catheters
- Others
- Diagnostic Devices
- Holter Monitoring Devices
- Diagnostic Electrophysiology Catheters
- Electrocardiograph (ECG)
- EP Mapping & Imaging Systems
- Insertable Cardiac Monitors (ICM)
- Others
Breakup by Indication:
- Atrial Fibrillation (AF)
- Supraventricular Tachycardia
- Atrioventricular Nodal Re-entry Tachycardia (AVNRT)
- Wolff-Parkinson-White Syndrome (WPW)
- Bradycardia
- Other
Breakup by End User:
- Hospitals
- Diagnostic Centers
- Others
Breakup by Region:
- North America
- United States
- Canada
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Others
- Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Russia
- Others
- Latin America
- Brazil
- Mexico
- Others
- Middle East and Africa
Competitive Landscape
The report has also analysed the competitive landscape of the market with some of the key players being Biosense Webster Inc. (Johnson & Johnson), Biotronik SE & Co. KG, Boston Scientific Corporation, Cardiofocus Inc., Koninklijke Philips N.V., Medtronic Inc., MicroPort Scientific Corporation, Molecular Devices LLC (Danaher Corporation), Nihon Kohden Corporation, Siemens Healthcare GmbH and Stereotaxis Inc.Key Questions Answered in This Report
1. What was the size of the global electrophysiology devices market in 2022?2. What is the expected growth rate of the global electrophysiology devices market during 2023-2028?
3. What are the key factors driving the global electrophysiology devices market?
4. What has been the impact of COVID-19 on the global electrophysiology devices market?
5. What is the breakup of the global electrophysiology devices market based on the product?
6. What is the breakup of the global electrophysiology devices market based on the indication?
7. What is the breakup of the global electrophysiology devices market based on the end user?
8. What are the key regions in the global electrophysiology devices market?
9. Who are the key players/companies in the global electrophysiology devices market?
Table of Contents
1 Preface3 Executive Summary11 Value Chain Analysis13 Price Analysis
2 Scope and Methodology
4 Introduction
5 Global Electrophysiology Devices Market
6 Market Breakup by Product
7 Market Breakup by Indication
8 Market Breakup by End User
9 Market Breakup by Region
10 SWOT Analysis
12 Porters Five Forces Analysis
14 Competitive Landscape
List of Figures
List of Tables
Companies Mentioned
- Biosense Webster Inc. (Johnson & Johnson)
- Biotronik SE & Co. KG
- Boston Scientific Corporation
- Cardiofocus Inc.
- Koninklijke Philips N.V.
- Medtronic Inc.
- MicroPort Scientific Corporation
- Molecular Devices LLC (Danaher Corporation)
- Nihon Kohden Corporation
- Siemens Healthcare GmbH
- Stereotaxis Inc.
Methodology
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 143 |
| Published | October 2023 |
| Forecast Period | 2022 - 2028 |
| Estimated Market Value ( USD | $ 5.7 Billion |
| Forecasted Market Value ( USD | $ 9.6 Billion |
| Compound Annual Growth Rate | 9.1% |
| Regions Covered | Global |
| No. of Companies Mentioned | 11 |
