New York, NY -- (SBWIRE) -- 01/20/2021 -- According to the current analysis of Reports and Data, the global Electrophysiology Devices market was valued at USD 5055.3 Million in 2018 and is expected to reach USD 12308.9 million by the year 2026, at a CAGR of 11.6%. Electrophysiology (EP) is immensely popular due to its efficacy in terms of controlling and treating arrhythmia. Arrhythmia continues to be one of the significant cardiac disorders, preceded by sudden cardiac death (SCD), accounting for approximately 15-20% of total deaths. Electrophysiology devices are forcing their way through entrenched preferences for conventional methods to treat cardiac arrhythmia.
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Leading Players Profiled in the Report Include:
Abbott Laboratories (U.S.), Bio sense Webster, Inc. (U.S.), BIOTRONIK SE & Co. KG (Germany), Boston Scientific Corporation (U.S.), GE Healthcare among others that collectively constitute a competitive market
According to WHO, cardiovascular diseases caused 17.5 million deaths globally in 2012. It became the leading cause of non -communicable disease (NCD) deaths. Electrophysiology devices are cardiology specialty devices used primarily in the diagnosis and treatment of cardiac arrhythmias. Thus, the growing prevalence of cardiovascular diseases is expected to boost Electrophysiology Devices market growth. The rising number of sudden cardiac arrest cases is a big threat to the American population. Rising use of defibrillators has proved helpful to reduce the death rates among patients suffering from cardiac arrest outside hospitals.
Introduction of new technologies such as Cryoablation, laser ablation, and ultrasound ablation and advanced mapping technologies are also likely to boost the demand for the Electrophysiology Devices market. Increasing accessibility to healthcare facilities, rising medical tourism, and the increasing incidences of heart failure cases are expected to augment market demand in emerging economies. But, high costs associated with Electrophysiology Devices, presence of strict regulations, and availability of alternative therapies are restraining market growth.
Further key findings from the report suggest
Electrophysiology (EP) technology has been advancing rapidly with new ablation tools to improve atrial fibrillation (AF) treatments, miniaturized diagnostic monitoring systems, and new implantable rhythm management devices that are making procedures much less invasive. Leadless Pacemakers, Wireless CRT, subcutaneous ICDs, new electro mapping systems, ultrasound guidance in Electrophysiology labs
The radiofrequency and cryoablation are the most widely used Electrophysiology ablation catheters
Asia-Pacific is a densely-populated region, with India and China being the most populated countries. Emerging economies, such as India and China, provide attractive growth opportunities for electrophysiological device manufacturers. The growth is augmented by the surge in demand for advanced electrophysiology devices, an improvement of healthcare reforms, high prevalence of cardiac arrhythmias, and increased focus of key players for developing technologically advanced cost-effective electrophysiology devices in this region. However, the unfavorable reimbursement scenario for electrophysiology devices, low awareness among physicians and patients about different electrophysiology devices, and high cost of these devices are likely to impede the electrophysiology devices market growth in these countries. In Japan, the atrial fibrillation rate among geriatric population is 2-3%. With the rise in ageing population, it is estimated that atrial fibrillation will affect about one million people by 2050, thereby driving the electrophysiology devices market growth.
Advances in the electrophysiology (EP) devices landscape has paced up in recent years. One such trend in the electrophysiology devices market is the introduction of leadless pacemakers. Leadless pacemakers serve as viable alternatives to the conventional variants, especially in case of patients who have a history of device infections. Traditional pacemakers are emerging as a major area of concern, as they are associated with a substantial risk of morbidity. This is laying a strong foundation for a faster adoption of leadless pacemakers.
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Segments covered in the report
Product (Revenue in Million USD; 2016–2026)
EP Ablation Catheters
Cryoablation EP Catheters
Radiofrequency Ablation Catheters
Irrigated-tip Radiofrequency Ablation Catheters
Conventional Radiofrequency Ablation Catheters
Microwave Ablation Systems
Laser Ablation Systems
Navigational Advanced Mapping Accessories
EP Laboratory Devices
EP X-Ray Systems
3D Mapping Systems
EP Recording Systems
EP Remote Steering Systems
Others
EP Diagnostic Catheters
Conventional EP Diagnostic Catheters
Steerable Diagnostic Catheters
Fixed Diagnostic Catheters
Advanced EP Diagnostic Catheters
Ultrasound EP Diagnostic Catheters
Access Devices
Others
Indication (Revenue in Million USD; 2016–2026)
Atrial Fibrillation (AF)
Atrial Flutter
Wolff-Parkinson-White Syndrome (WPW)
Atrioventricular Nodal Reentry Tachycardia (AVNRT)
Right Atrial Tachycardia
Right Atrial Flutter
Left Atrial Flutter
Right Ventricular Tachycardia
Left Ventricular Tachycardia
Regional Outlook (Revenue in Million USD; 2016–2026)
North America
Europe
Rest of the Europe
Middle East & Africa
Latin America
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Table of contents
Chapter 1. Market Synopsis
1.1. Market Definition
1.2. Research Scope & Premise
1.3. Methodology
1.4. Market Estimation Technique
Chapter 2. Executive Summary
2.1. Summary Snapshot, 2018 – 2026
Chapter 3. Indicative Metrics
3.1. Increasing use in diagnosis of cardiovascular diseases
3.2. Introduction of new technologies and advanced mapping technologies
Chapter 4. Electrophysiology Devices Segmentation & Impact Analysis
4.1. Electrophysiology Devices Segmentation Analysis
4.2. Electrophysiology Devices Market Value Chain Analysis, 2016-2026
4.3. Regulatory framework
Continued…
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