Electrophysiology devices market size was valued at USD 5.6 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 10.94% from 2022 to 2030.
In order to detect arrhythmia or irregular heartbeats, doctors use electrophysiology to access electrical cardiac activity and identify the nature of aberrant heart rhythm. In order to assess the electrical activity flowing through blood vessels into the heart, a catheter with a wire electrode is inserted during the process. Ablation catheters, 3D mapping systems, radiofrequency generators, and access devices are examples of electrophysiology equipment that is accessible at hospitals, cardiac centres, and labs.
The market is expanding as a result of rising demand for devices for cardiac rhythm management for continuous monitoring and expanding use of these devices outside of hospitals. Due to factors including smoking, drinking too much alcohol, living sedentary lifestyles, and atrial fibrillation, millennials are more likely to experience these conditions. By 2030, the CDC projects that 12.1 million Americans will be affected by atrial fibrillation.
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Market Segmentations are as follows,
Global Electrophysiology Devices Market: Top Key Players
Topera, Inc
Microport Scientific Corporation
Johnson & Johnson Company
Boston Scientific
GE Healthcare
St.Jude Medical Inc.
Siemens Healthcare
Abbott Laboratories
Molecular Devices
Biotronik SE & Co. KG
Global Electrophysiology Devices Market: By Types
Electrophysiology Treatment Devices
Electrophysiology Monitoring Devices
Other
Global Electrophysiology Devices Market: By Applications
Hospital
Clinic
Effect of COVID-19 on the world market for electrophysiology:
The COVID-19 pandemic’s effects and the ensuing lockdown are still very much felt today, especially in the electrophysiology market. Particularly in nations with a high incidence rate of COVID-19, like China, the US, and several European countries, the overall growth of numerous sectors has been severely damaged (including Russia, Italy, and Spain). The healthcare, biotechnology, and pharmaceutical industries are making the most of this circumstance to serve the greatest number of patients and healthcare professionals, whereas industries like oil and petroleum, aviation, and mining are seeing a sharp decline in revenue.
Key Benefits for Stakeholders:
- The study provides an in-depth analysis of the EP industry, and the current trends & future estimations to elucidate imminent investment pockets.
- It presents a quantitative analysis of the market from 2021 to 2030 to enable stakeholders to capitalize on the prevailing electrophysiology market opportunities.
- Extensive analysis of the market based on procedures and services assists to understand the trends in the industry.
- Key players and their strategies are thoroughly analyzed to understand the competitive outlook of the EP market.
The worldwide healthcare market has been expanding at a CAGR of about 5%, and future growth is anticipated to be much higher. The healthcare industry is growing steadily and is anticipated to accelerate its expansion in the next years. We offer in-depth information on these industries with the utmost precision. The healthcare industry is made up of numerous major sectors, including healthcare services and facilities, hospital supplies, medical equipment, medicines, and drugs.
Customer Outlook:
The market is divided into Ambulatory Surgery Centers and Hospitals & Cardiac Centers based on End User. In terms of revenue, the electrophysiology market was significantly dominated in 2021 by the sector of ambulatory surgery centres. Ambulatory surgery centres (ASCs) provide both practical and monetary advantages, including cheaper costs, simpler patient access, and greater opportunities for doctor-patient engagement. So, in Corazon’s opinion, hospitals and healthcare systems had to look into ways to capitalise on this development, particularly in the cardiovascular service line.
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FAQs:
• What is the driving factor for the growth of the Electrophysiology Devices market?
• How will the COVID-19 pandemic impact the demand and consumption of the Electrophysiology Devices market?
• What is the major application area of the Electrophysiology Devices market?
• Who are the Electrophysiology Devices manufacturers across the globe?
• Which geographical location is dominant in the Electrophysiology Devices market?
• Which are the top industry players in the Electrophysiology Devices market?
About Us:
The healthcare industry is surely facing disruptions with global economies giving high importance to individual health. In this scenario, we expect our clients to get deep insights to power their innovations in the right direction. We have been keeping a close watch on the changes and modifications happening in the healthcare domain. As per our understanding, these alterations are active and unexampled.