The global electrophysiology devices market accounted for USD 10.08 billion in 2023 and is expected to reach at USD 42.40 billion by 2034 with a CAGR of 13.95% during the forecast period 2024-2034. Increasing need for sophisticated devices in cardiac rhythm management for continuous monitoring, expanding utilization of these devices beyond hospital settings, rise in the incidence of heart failure, cardiac arrest, & atrial fibrillation, growing technological advancements such as remote monitoring of implanted cardiac devices, integration of wireless transmission, & cloud-based data storage, growing preference for minimally invasive surgical procedures, surge in the launch of innovative platforms, and an uptick in regulatory approvals for cutting-edge electrophysiology devices are the key factors driving the market growth.
An uptick in regulatory approvals for cutting-edge electrophysiology devices is predicted to boost the market growth during the forecast period. Electrophysiology devices are specialized equipment in the field of cardiology, primarily employed for diagnosing and treating cardiac arrhythmias. Over the past few years, there has been a noticeable trend among patients towards opting for less invasive surgical procedures. The incorporation of minimally invasive technologies like cryoablation, laser ablation, ultrasound ablation, and advanced mapping technologies is anticipated to positively impact the industry. For instance, in February 2022, The Freezor and Freezor Xtra cardiac cryoablation focal catheters from Medtronic are approved by the US FDA to treat juvenile patients' atrioventricular nodal reentrant tachycardia (AVNRT).
By device, ablation catheters was the highest revenue-grossing segment in the global electrophysiology devices market in 2023 owing to the increasing incidence of heart failure & arrhythmia, growing recognition of the reliability of electrophysiology procedures, advancements in electrophysiology technologies, and rise in the approval of innovative systems. For instance, in January 2022, The U.S. FDA approved Abbott's EnSite X EP System with EnSite omnipolar technology to treat cardiac arrhythmias. Additionally, diagnostic catheters is predicted to grow at the fastest CAGR during the forecast period owing to the growing occurrence of cardiovascular diseases has led to the utilization of diagnostic catheters for the examination and assessment of individuals suspected to have such conditions. These catheters include EP mapping devices, cardiac output catheters, angiography catheters, and similar instruments.
By indication, atrial fibrillation was the highest revenue-grossing segment in the global electrophysiology devices market in 2023 owing to the elevated risk of stroke & blood clot formation, increasing prevalence of the ailment, and rising number of regulatory approvals. For instance, in October 2023, The U.S. Food and Drug Administration (FDA) has granted approval to the POLARx Cryoablation System from Boston Scientific Corporation. This system incorporates the POLARx FIT Cryoablation Balloon Catheter, designed to address paroxysmal atrial fibrillation (AF) by accommodating two distinct balloon sizes within a single catheter. Additionally, non-atrial fibrillation is predicted to grow at the fastest CAGR during the forecast period owing to the rising prevalence of supraventricular tachycardia, growing introduction of advanced catheter devices.
By end-user, inpatient facility was the highest revenue-grossing segment in the global electrophysiology devices market in 2023 owing to the growing trend among interventional cardiologists to adopt technologically advanced cardiac rhythm management & electrophysiology systems, increasing burden of Cardiovascular Disease (CVD) and rising mergers & acquisitions within the market. For instance, in February 2022, Boston Scientific Corp. has completed the acquisition of Baylis Medical Company Inc., a company that specializes in innovative transseptal solutions for catheter-based procedures on the left side of the heart. Additionally, outpatient facilities is predicted to grow at the fastest CAGR during the forecast period owing to a shift to less invasive outpatient procedures that save a significant amount of expense. Government initiatives aimed at reducing treatment costs and supporting favorable reimbursement policies.
North America region is anticipated for the highest revenue share during the forecast period owing to the increase in the incidence of heart failure, cardiac arrest, & cardiac arrhythmia, the existence of advanced healthcare infrastructure, a rise in supportive reimbursement policies, and an uptick in regulatory approvals for innovative products. For instance, in August 2023, A division of Johnson & Johnson MedTech, Biosense Webster, Inc. is a leading worldwide provider of cardiac arrhythmia treatment. The company recently announced that the FDA has approved several products from its cardiac ablation portfolio for a zero fluoroscopy workflow. Included in this workflow are products such as the THERMOCOOL SMARTTOUCH SF catheter, recognized as the most widely used catheter globally for radiofrequency (RF) ablation, PENTARAY NAV ECO High Density Mapping Catheter, THERMOCOOL SMARTTOUCH Catheter, CARTO VIZIGO Bi-Directional Guiding Sheath, Webster CS Catheter, and DECANAV Mapping Catheters. Additionally, Asia Pacific region is predicted to grow at fastest CAGR during the forecast period owing to a substantial elderly population, escalating risk of heart diseases, unmet clinical needs, heightened patient awareness, continuous technological advancements, and rise in regulatory approvals. For instance, in May 2023, Abbott has received approval from the U.S. Food and Drug Administration (FDA) for the TactiFlex Ablation Catheter, Sensor Enabled. This marks the first ablation catheter featuring both contact force technology and a flexible tip. The TactiFlex catheter is designed to effectively address atrial fibrillation (AFib), offering shorter procedure times and enhanced safety compared to catheters from previous generations.
An uptick in regulatory approvals for cutting-edge electrophysiology devices is predicted to boost the market growth during the forecast period. Electrophysiology devices are specialized equipment in the field of cardiology, primarily employed for diagnosing and treating cardiac arrhythmias. Over the past few years, there has been a noticeable trend among patients towards opting for less invasive surgical procedures. The incorporation of minimally invasive technologies like cryoablation, laser ablation, ultrasound ablation, and advanced mapping technologies is anticipated to positively impact the industry. For instance, in February 2022, The Freezor and Freezor Xtra cardiac cryoablation focal catheters from Medtronic are approved by the US FDA to treat juvenile patients' atrioventricular nodal reentrant tachycardia (AVNRT).
By device, ablation catheters was the highest revenue-grossing segment in the global electrophysiology devices market in 2023 owing to the increasing incidence of heart failure & arrhythmia, growing recognition of the reliability of electrophysiology procedures, advancements in electrophysiology technologies, and rise in the approval of innovative systems. For instance, in January 2022, The U.S. FDA approved Abbott's EnSite X EP System with EnSite omnipolar technology to treat cardiac arrhythmias. Additionally, diagnostic catheters is predicted to grow at the fastest CAGR during the forecast period owing to the growing occurrence of cardiovascular diseases has led to the utilization of diagnostic catheters for the examination and assessment of individuals suspected to have such conditions. These catheters include EP mapping devices, cardiac output catheters, angiography catheters, and similar instruments.
By indication, atrial fibrillation was the highest revenue-grossing segment in the global electrophysiology devices market in 2023 owing to the elevated risk of stroke & blood clot formation, increasing prevalence of the ailment, and rising number of regulatory approvals. For instance, in October 2023, The U.S. Food and Drug Administration (FDA) has granted approval to the POLARx Cryoablation System from Boston Scientific Corporation. This system incorporates the POLARx FIT Cryoablation Balloon Catheter, designed to address paroxysmal atrial fibrillation (AF) by accommodating two distinct balloon sizes within a single catheter. Additionally, non-atrial fibrillation is predicted to grow at the fastest CAGR during the forecast period owing to the rising prevalence of supraventricular tachycardia, growing introduction of advanced catheter devices.
By end-user, inpatient facility was the highest revenue-grossing segment in the global electrophysiology devices market in 2023 owing to the growing trend among interventional cardiologists to adopt technologically advanced cardiac rhythm management & electrophysiology systems, increasing burden of Cardiovascular Disease (CVD) and rising mergers & acquisitions within the market. For instance, in February 2022, Boston Scientific Corp. has completed the acquisition of Baylis Medical Company Inc., a company that specializes in innovative transseptal solutions for catheter-based procedures on the left side of the heart. Additionally, outpatient facilities is predicted to grow at the fastest CAGR during the forecast period owing to a shift to less invasive outpatient procedures that save a significant amount of expense. Government initiatives aimed at reducing treatment costs and supporting favorable reimbursement policies.
North America region is anticipated for the highest revenue share during the forecast period owing to the increase in the incidence of heart failure, cardiac arrest, & cardiac arrhythmia, the existence of advanced healthcare infrastructure, a rise in supportive reimbursement policies, and an uptick in regulatory approvals for innovative products. For instance, in August 2023, A division of Johnson & Johnson MedTech, Biosense Webster, Inc. is a leading worldwide provider of cardiac arrhythmia treatment. The company recently announced that the FDA has approved several products from its cardiac ablation portfolio for a zero fluoroscopy workflow. Included in this workflow are products such as the THERMOCOOL SMARTTOUCH SF catheter, recognized as the most widely used catheter globally for radiofrequency (RF) ablation, PENTARAY NAV ECO High Density Mapping Catheter, THERMOCOOL SMARTTOUCH Catheter, CARTO VIZIGO Bi-Directional Guiding Sheath, Webster CS Catheter, and DECANAV Mapping Catheters. Additionally, Asia Pacific region is predicted to grow at fastest CAGR during the forecast period owing to a substantial elderly population, escalating risk of heart diseases, unmet clinical needs, heightened patient awareness, continuous technological advancements, and rise in regulatory approvals. For instance, in May 2023, Abbott has received approval from the U.S. Food and Drug Administration (FDA) for the TactiFlex Ablation Catheter, Sensor Enabled. This marks the first ablation catheter featuring both contact force technology and a flexible tip. The TactiFlex catheter is designed to effectively address atrial fibrillation (AFib), offering shorter procedure times and enhanced safety compared to catheters from previous generations.
Report Scope:
- Base Year: 2023
- Forecast Period: 2024-2034
Study Coverage
- Market Forecast by Type, Material, Product, and End-user
- Market Forecast for 5 Regions and 17+ Countries
- North America (U.S. and Canada)
- Europe (Germany, France, UK, Spain, Italy, Russia, Rest of Europe)
- Asia Pacific (China, Japan, India, Australia, South Korea, Rest of APAC)
- Latin America (Brazil, Mexico, Argentina, Rest of LATAM)
- MEA (South Africa, GCC, Rest of MEA)
- Exhaustive Company Profiles of Top 10+ Major Market Players
- 20% Free Customization Available to Meet Your Exact Requirement.
Segmentation: Electrophysiology Devices Market Report 2023 - 2034
Electrophysiology Devices Market Analysis & Forecast by Device 2023 - 2034 (Revenue USD Bn)
- Access Devices
- Laboratory Devices
- Diagnostic Catheters
- Ablation Catheters
- Cryoablation
- Pulse Field Ablation
- Radiofrequency (RF) Ablation
Electrophysiology Devices Market Analysis & Forecast by Indication 2023 - 2034 (Revenue USD Bn)
- Non-Atrial Fibrillation
- Atrial Fibrillation (AF)
Electrophysiology Devices Market Analysis & Forecast by End-user 2023 - 2034 (Revenue USD Bn)
- Outpatient Facilities
- Inpatient Facilities
- Others
Electrophysiology Devices Market Analysis & Forecast by Region 2023 - 2034 (Revenue USD Bn)
- North America
- U.S.
- Canada
- Europe
- Germany
- France
- UK
- Spain
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Australia
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Mexico
- Argentina
- Rest of LATAM
- Middle East & Africa
- South Africa
- GCC
- Rest of MEA
Table of Contents
1. Research Methodology
2. Introduction
4. Market Environment Analysis
5. Market Dynamics
7. Electrophysiology Devices Market: Device Estimates & Trend Analysis
8. Electrophysiology Devices Market: Indication Estimates & Trend Analysis
9. Electrophysiology Devices Market: End-user Estimates & Trend Analysis
10. Regional Market Analysis
11. North America Electrophysiology Devices Market
12. Europe Electrophysiology Devices Market
13. Asia Pacific Electrophysiology Devices Market
14. Latin America Electrophysiology Devices Market
15. MEA Electrophysiology Devices Market
16. Competitor Analysis
17. Company Profiles
Companies Mentioned
- Biosense Webster (Johnson & Johnson Services Inc.)
- Biotronik
- Medtronic
- Boston Scientific Corp.
- General Electric Company
- Abbott
- Koninklijke Philips N.V.
- Siemens Healthcare AG
- MicroPort Scientific Corporation
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 200 |
| Published | March 2024 |
| Forecast Period | 2023 - 2034 |
| Estimated Market Value ( USD | $ 10.08 Billion |
| Forecasted Market Value ( USD | $ 42.4 Billion |
| Compound Annual Growth Rate | 13.9% |
| Regions Covered | Global |
| No. of Companies Mentioned | 9 |
