The increasing demand for minimally invasive, safer, and efficient electrophysiology therapies has transcended electrophysiology market growth. The latest electrophysiology catheters, devices and access devices offer advanced cardiac electromapping, ablations and diagnostic procedures. The next-generation electrophysiology devices offer minimal invasive interventions that offer short hospital stay period.
The burden of cardiac arrhythmias has become so severe that new technologies must be incorporated into the production of electrophysiological devices. The widespread use of minimally invasive electrophysiology therapy has been made possible by the requirement for highly precise and controlled cardiac diagnostic and ablation methods.
For the intermittent cardiac treatment, interventionalists are now adopting disposable catheters because they provide superior sterility, safety, and economics. With the introduction of cutting-edge electrophysiological equipment, an increase in the number of cardiac ablation treatments, and favourable reimbursement policies, the electrophysiology market is anticipated to grow steadily.
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The increasing adoption of the ablation catheterization for the management of the cardiac arrhythmias is escalated by the introduction of advanced, safer and efficient electrophysiology solutions by the key players. The minimally invasive nature of the incoming electrophysiology solutions is safer for patients with medical comorbidities.
The cardiac arrhythmia treatment regime is frequently combining these latest electrophysiology devices with several antiarrhythmic drugs such as procainamide, amiodarone, flecainide and others. The shift towards the increased adoption of the disposable catheters due to their affordability, sterility and safety has also rocketed the sales of the electrophysiology market. Manufacturers have eyed on the acquisitions, collaborations, product approvals and launching into the various geographies to penetrate deep into the potential electrophysiology markets.
Key Takeaways from Electrophysiology Market Study
- The global electrophysiology market is estimated to be US$ 7.84 Bn in 2020, exhibiting a CAGR of ~12.7 % during the forecast period (2020-2030)
- The U.S. will remain a highly lucrative market, accounting for over 95% of North America market in 2021, based on volume
- Demand from U.K. is poised to surge considerably. FMI forecasts it to exhibit 8.5% Y-o-Y growth in 2021
- Germany and France will emerge as other key markets for electrophysiology in the U.K.
- Demand from both Japan and South Korea is expected to increase at a considerable pace in the coming years
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Who is Winning?
The leading manufactures have eyed in the improvisation of the ablation procedures with the introduction of the latest contact-force sensing technology that offers high precision ablation, irrigated tip ablation catheters with controlled and target specific ablation and balloon catheters with more predictable and reproducible ablation.
Stereotaxis and Acutus Medical have introduced telerobotics in the cardiac ablation catheter surgeries that offer high precision ablation, real-time cardiac imaging and high-resolution cardiac mapping. Digital cloud technology has also been integrated into the electrophysiology devices that allows the interventionalist to remotely access the cardiac data.
For instance, J&J’s Biosense Webster launched a new cloud-based network, CARTONET platform that connects the field’s myriad devices to share the 3D image files into laptops, tablets, etc.
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The global electrophysiology market is set to expand its scope in the forecast period, as a result of the rising prevalence of cardiac arrhythmias. In addition to this, the escalating demand for minimally invasive cardiac therapies, increasing adoption of the electrophysiology interventions, along with the incoming advanced technologies are propelling the growth of the market.
Electrophysiology Market: Segmentation
Product Type
- Electrophysiology Laboratory Devices
- 3D Mapping Systems
- Electrophysiology Recording Systems
- Radiofrequency (RF) Ablation Systems
- Intracardiac Echocardiography (Ice) Ultrasound Imaging Systems
- Cardiac Stimulators
- Others
- Electrophysiology Ablation Catheters
- Cryoablation Electrophysiology Catheters
- Radiofrequency (RF) Ablation Catheters
- Irrigated Tip RF Ablation Catheters
- Laser Ablation Catheters
- Electrophysiology Diagnostic Catheters
- Conventional Electrophysiology Diagnostic Catheters
- Advanced Electrophysiology Diagnostic Catheters
- Ultrasound Electrophysiology Diagnostic Catheters
- Access Devices
Indication
- Atrial Fibrillation
- Atrial Flutter
- Wolff-Parkinson-White Syndrome (WPW)
- Atrioventricular Nodal Reentry Tachycardia (AVNRT)
- Ventricular tachycardia (VT)
- Others
End-User
- Hospitals
- Cardiac Catheterization Laboratories
- Ambulatory Surgery Centers
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