Electrophysiology Market To Surpass $17,482.7 Million Value by 2030, says P&S Intelligence

NEW YORK, June 8, 2022 /PRNewswire/ -- According to the market research report published by P&S Intelligence, the global electrophysiology market is on the path to generating $17,482.7 million by 2030, compared to $7,076.1 million in 2021, advancing at a compound annual growth rate of 10.6% between 2021 and 2030. The growing count of cardiac ablation procedures, rising reforms for healthcare infrastructure growth, increasing demand for ablation and diagnostic catheters, and technology advancements are some major aspects driving the growth of the market.

Ablation Catheters Category Generated Highest Revenue

Ablation catheters had the biggest share of the market in 2021, and the category size is expected to increase at a significant rate, of 10.9%, from 2021 to 2030. Ablation is a non-invasive procedure in which catheters are used to remove faulty electrical pathways in the heart that create cardiac arrhythmia.

Furthermore, in 2021, laboratory devices accounted for a 31.4% share of the electrophysiology market. This was due to the growing public and private funding for the development of new electrophysiology recording systems in both developed and developing countries. Moreover, the market for RF ablation treatments is growing because of the rising frequency of these treatments, their cost-effectiveness when compared to other ablation methods, and the easy accessibility of laboratory devices.

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Electrophysiology solutions are most commonly used in hospitals and cardiac centers. As a result, in 2021, the category had the largest share in the market, and it is predicted to grow at a 10.6% CAGR over the forecast period. This will be owing to an increase in the footfall at electrophysiology and catheterization labs, as well as in the count of ablation treatments performed in both public and private hospitals across the world.

Geographical Analysis of Electrophysiology Market

The APAC electrophysiology market is expected to advance at an 11.0% CAGR during the forecast period. China has the largest share in the APAC region owing to the rising heart disease, obesity, stress, and other chronic disease prevalence, as a result of the changing lifestyles and eating habits and growing trend of drinking and smoking.

In 2021, North America dominated the market, and it is predicted to remain dominant in the future. This is because of the surging count of approvals for electrophysiology devices, increasing cases of cardiac arrhythmias, rising demand for cardiac ablation procedures, and existence of major companies in the region.

Browse detailed report on Global Electrophysiology Market Size, Growth Drivers and Demand Forecast To 2030

The European electrophysiology market is dominated by Germany. Electrophysiology devices are expected to become more popular as the cases of cardiovascular diseases rise in the country. Furthermore, the growing private and government investments in the healthcare sector are likely to fuel the market expansion in the near future.

Electrophysiology Device Advancements Are Propelling Market Growth

Depending on how they are used to treat cardiac arrhythmias, new electrophysiological devices could have better success rates. Treatment options for cardiac arrhythmias have altered as a result of the technological advancements, thus decreasing the incidence of adverse cardiac events. Improvements in electrophysiology include irrigation RF ablation catheters and improved cryoablation procedures.

Electrophysiology Market Segmentation Analysis

By Product Type

• Ablation Catheters
• Laboratory Devices
• Diagnostic Catheters
• Access Devices

By Indication

• Atrial Fibrillation
• Atrial Flutter
• Atrioventricular Nodal Reentry Tachycardia (AVNRT)
• Wolff-Parkinson-White Syndrome (WPW)

By End Users

• Hospitals and Cardiac centers
• Ambulatory Surgery Centers

Regional Outlook

• North America
• U.S.
• Canada
• Europe
• U.K.
• Germany
• France
• Spain
• Italy
• Asia-Pacific
• China
• India
• Japan
• South Korea
• Australia
• Latin America
• Brazil
• Mexico
• Middle East and Africa
• Saudi Arabia
• South Africa

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SOURCE P&S Intelligence