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A recent report published by Infinium Global Research on the electrophysiology market provides an in-depth analysis of segments and sub-segments in the global as well as regional electrophysiology market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional electrophysiology market over the short term as well as the long term. The report is a comprehensive presentation of trends, forecasts, and dollar values of the global electrophysiology market. According to the report, the global electrophysiology market is projected to grow at a CAGR of 13% over the forecast period of 2021-2027.
The global electrophysiology market was sized near USD 5 billion in 2021. The global electrophysiology market is projected to grow with a CAGR of 13% during 2021-2027. The test that helps physicians understand the nature of abnormal heart rhythm is known as Electrophysiology. Electrophysiology is used to diagnose arrhythmia or irregular heartbeats and accesses electrical heart activity. In Electrophysiology, the catheter is inserted into the human body followed by a wire electrode, which measures the electrical activity through blood vessels that enter the heart. There are several electrophysiology devices such as ablation catheters, 3D mapping systems, radiofrequency generators, and access devices available in the electrophysiology laboratory, hospital, or cardiac centers. Furthermore, one of the most widely used procedures for the treatment of atrial fibrillation is the cardiac ablation procedure.
Increasing technological advancements in electrophysiology devices and rising usage are the prime factors propelling the growth of the electrophysiology market. Furthermore, the growing development of procedures like advances in electrophysiology has contributed to the enhancement of atrial fibrillation (AF) treatment outcomes. Developed devices that make procedures less invasive are expected to drive the market over the forecast period. Moreover, other significant factors that boost the market’s growth are the expanding adoption of electrophysiology (EP) for the treatment of structural heart diseases, growing cases of atrial fibrillation among other types of cardiac arrhythmias, and booming geriatric patients possess a massive risk for various cardiac rhythm disorders. On the other hand, the growth of the electrophysiology market can be hampered by high capital, procedure, and maintenance costs, the high cost of electrophysiology products, and inadequate reimbursement. However, increasing patients’ preference for hospitals is expected to offer significant growth opportunities to the electrophysiology market during the forecast period.
Due to well-established healthcare facilities, technological advancements, a rise in the number of arrhythmia and heart failure cases, and the presence of key market players, North America is expected to hold the largest share of the electrophysiology market and dominate the market during the forecast period. However, the Asia Pacific region is expected to witness high growth in the coming years, particularly in China, India, and Japan. Due to changing lifestyles and eating habits, increasing stress and habitual smoking and drinking in China and India have resulted in growing health-related problems such as obesity, heart disease, and other chronic diseases. Hence China and India are expected to account for the highest growth in the market. Furthermore, factors like large population, increasing geriatric population, growing incidence of chronic diseases, rising healthcare spending, healthcare reforms for infrastructural development, increasing demand for advanced technologies, increasing emphasis of prominent players on emerging markets, and less stringent regulations are also propelling the growth of electrophysiology market in APAC region.
The report on the global electrophysiology market covers segments such as product, disease indication, and end-use. On the basis of product, the sub-markets include EP ablation catheters, EP laboratory devices, and others. On the basis of disease indication, the sub-markets include atrial fibrillation, atrial flutter, Atrioventricular Nodal Reentry Tachycardia (AVNRT), Wolff-Parkinson-White syndrome (WPW), and others. On the basis of end-user, the sub-markets include hospitals, ambulatory surgery centers, and academic and research institutes.
The report provides profiles of the companies in the market such as GE Healthcare (US), Medtronic PLC (Ireland), Johnson & Johnson (US), Koninklijke Philips N.V. (Netherlands), Abbott Laboratories (US), Siemens AG (Germany), MicroPort Scientific Corporation (China), Boston Scientific (US), EP Solutions (Switzerland), and Imricor Medical Systems (US).
The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of the electrophysiology market. Moreover, the study highlights current market trends and provides forecasts from 2021-2027. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.
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