The electrophysiology market is expected to generate revenue

Jersey City, New Jersey, Sept. 23, 2022 (GLOBE NEWSWIRE) — Verified Market Research recently released a report, “electrophysiology market” By product (electrophysiology laboratory devices, electrophysiology ablation catheters, access devices), by indication (atrial fibrillation, atrial flutter) and by geography.

According to in-depth research by experts at Verified Market Research, the Electrophysiology market size was valued at USD 4.49 Billion in 2020 and is projected to reach USD 10.70 Billion by 2028, growing at a CAGR by 10.26% from 2021 to 2028.

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Global Electrophysiology Market Overview

The increasing incidence of target diseases and procedures is expected to drive the electrophysiology market. AF is the most frequently diagnosed arrhythmia in clinical practice. The increasing prevalence of cardiac arrhythmias across the world will drive the growth of the global market. Atrial fibrillation (AFib), a form of irregular heartbeat, is a widely diagnosed form of arrhythmia. Electrophysiology helps patients diagnose and manage cardiac arrhythmias. The use of different advanced mapping and guidance practices that help improve heart rate monitoring will increase the adoption of electrophysiology devices.

The increasing prevalence of heart failure (HF) and cardiac arrest cases among millennials attributed to lifestyle habits such as smoking and excessive alcohol consumption has positively anticipated the growth of the global heart rate market. electrophysiology. Some constraints and difficulties encountered will hamper the overall growth of the market. Factors such as lack of qualified medical expertise, professionals, and absence of standards and protocols are limiting the growth of the market. Additionally, high cost of electrophysiology products and inadequate reimbursement is expected to slow the growth over the forecast period. Most electrophysiology products are high-end products, including 3D cardiac mapping systems and EP recording systems which have high investment, training and maintenance costs, as well as EP procedures generally expensive. This, coupled with the unfavorable reimbursement scenario for these products in several countries, costly clinical data requirements for new product launches, availability of alternative technologies, and reuse and reprocessing devices are the potential constraints impeding growth. overview of the global electrophysiology market. .

Key developments

Partnerships, collaborations and agreements

  • In May 2019, Stereotaxis entered into a collaboration agreement with Osypka AG. The objective of this collaboration is to develop a new generation magnetic ablation catheter as well as the integration of Stereotaxis’ robotic technology. This collaboration will increase the growth of both companies.

Mergers and Acquisitions

  • In June 2018, EPD Solutions, an innovator in image-guided procedures for cardiac arrhythmias, was acquired by Koninklijke Philips NV The purpose of this acquisition is to strengthen Koninklijke Philips NV’s portfolio of interventional imaging systems

Product launches and product extensions

  • In September 2019, CARTONET, the world’s first secure cloud network for electrophysiologists, was launched by Johnson & Johnson (Biosense Webster). This launch will analyze, share and review data on atrial fibrillation cases to improve the efficiency of procedures.

Key players

The main market players are Abbott Laboratories (USA), Biosense Webster, Inc. (USA), BIOTRONIK SE & Co. KG (Germany), Boston Scientific Corporation (USA), GE Healthcare (UK), Koninklijke Philips NV ( Netherlands), Medtronic, Inc. (USA), Microport Scientific Corporation (China), St. Jude Medical, Inc. (USA) and Siemens AG (Germany).

Verified Market Research has segmented the global electrophysiology market on the basis of product, indication, and geography.

  • Electrophysiology Market, By Product
    • Electrophysiology Laboratory Devices
    • Electrophysiology Ablation Catheters
    • Electrophysiology Diagnostic Catheters
  • Electrophysiology Market, By Indication
    • Atrial fibrillation
    • Atrial flutter
    • Atrioventricular nodal reentry tachycardia (AVNRT)
    • Wolff-Parkinson-White (WPW) syndrome
    • Other indications
  • Electrophysiology Market, By Geography
    • North America
    • Europe
      • Germany
      • France
      • UK
      • The rest of Europe
    • Asia Pacific
      • China
      • Japan
      • India
      • Rest of Asia-Pacific
    • LINE
      • Middle East and Africa
      • Latin America

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Sallie R. Loera