Allied Market Research published a report on the electrophysiology market, which offers industry dynamics, including growth drivers, opportunities, and challenges. This report provides a competitive landscape of the sector. The global industry size was valued at $6,499.7 million in 2020, and is projected to reach $22,651.4 million by 2030, registering a CAGR of 14.4% from 2021 to 2030.
Electrophysiology refers to the tests conducted to help physicians diagnose arrhythmia or abnormal heartbeats. This is conducted by inserting a catheter and a wire electrode, which helps understand the electrical activity through blood vessels that enter the heart. Electrophysiology devices used by physicians include 3D mapping systems, ablation catheter, radio frequency generators, and access devices.
Rise in prevalence of cardiovascular diseases drives the growth of the electrophysiology device industry. In addition, technological advancements in these devices help deliver accurate results in less time. Surge in healthcare infrastructure in emerging markets, improvements in reimbursement policies, and integration of digitalization make way for enhanced diagnosis and treatment of the cardiovascular diseases, in turn, boosting the electrophysiology sector growth.
North America held the major share in the electrophysiology market in 2020 and is expected to remain dominant during the forecast period. This is attributed to the surge in prevalence of cardiac diseases in the region. Further, there is an observed rise in the number of approvals for electrophysiology devices across the region, which also fosters its dominance in the electrophysiology sector. The Asia-Pacific region is also projected to experience growth due to a rise in prevalence of cases of atrial fibrillation. Moreover, the region is experiencing an increase in focus on advancements in electrophysiology technology, which in turn boosts the demand for electrophysiology devices in Asia-Pacific.
Important questions
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What are the key growth strategies of the electrophysiology industry players?
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Which region is expected to provide more business opportunities for this industry in the coming years?
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Who are the leading industry players in this sector?
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What are the driving factors and opportunities in the global electrophysiology industry?
Advancements such as the introduction of pulsed field ablation (PFA) technology for Atrial Fibrillation (AFib) are projected to offer accurate results compared to tadeonal methods. In addition, surge in usage of artificial intelligence and machine learning in the electrophysiology devices present significant opportunities in the electrophysiology industry landscape. Development and introduction of leadless pacemakers help reduce the complications associated with lead and transforms cardiac rhythm management. Further, there is an increase in the preference for minimally invasive techniques by physicians. These include catheter-based ablation and others and help lower risk and enable faster recovery times.
Leading companies in the industry
Leading player operating in the electrophysiology include
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BOSTON SCIENTIFIC CORPORATION
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Biotronik SE & Co. KG
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Medtronic plc. (Zephyr Technology Corporation)
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MICROPORT SCIENTIFIC CORPORATION
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Johnson & Johnson Services, Inc.
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Koninklijke Philips N.V.
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CardioFocus, Inc.
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GE Healthcare
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ABBOTT LABORATORIES
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Siemens Healthineers AG
Key developments in industry
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Johnson & Johnson received FDA approval to launch MedTech's VARIPULSE Platform in November 2024. This platform helps in the treatment of drug-refractory paroxysmal atrial fibrillation.
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Medtronic achieved FDS approval for Affera Mapping and Ablation System in October 2024. This system plays a pivotal role in treating persistent atrial fibrillation. It also helps in performing radiofrequency ablation of the cavotricuspid isthmus.
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Kestra Medical Technologies introduced the ASSURE WCD System in September 2023. This helps provide remote patient monitoring for patients with sudden cardiac arrest.
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Boston Scientific Corporation announced the launch of DIRECTSENSE technology, in U.S., in June 2020. This helps monitor the effect of radiofrequency energy delivered while conducting the cardiac ablation procedure.
To sum up
The AMR report delivers a detailed study of the industry, including a comprehensive competitive landscape. It further highlights emerging trends, key growth drivers, and potential opportunities that empower industry leaders and stakeholders to make informed strategic decisions. The report serves as a valuable resource for understanding changes in the domain, mitigating risks, and supporting long-term business growth in an increasingly competitive environment by offering in-depth insights.
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