The global electrophysiological equipment market was worth USD 6.10 billion in 2021 and is expected to grow to USD 9.95 billion by 2027, at a CAGR of 11.2% over the forecast period.
Electrophysiology devices are primarily utilized in the diagnosis and treatment of cardiac disorders such as atrial and ventricular fibrillation, as well as tachycardia. Healthcare professionals use a variety of tools based on the electrophysiological technique to identify and treat various disorders, including ablation and diagnostic catheters, mapping systems, etc. Atrial fibrillation is thought to affect between 2.7 million and 6.0 million persons in the United States, according to the Centers for Disease Control and Prevention (CDC). The American College of Cardiology estimates that 840,800 fatalities in 2016 were attributable to cardiovascular diseases, which are the country's top cause of mortality. Growing demand for cardiac rhythm management devices for continuous monitoring and expanding use of electrophysiology devices in the diagnosis and treatment of cardiovascular illnesses like atrial fibrillation are some factors anticipated to boost market growth rate during the forecast period. One of the key factors impacting the market's growth is the introduction of technologically improved equipment. During the projection period, the use of various advanced mapping and guidance systems that assist in improved monitoring of cardiac rhythm is predicted to increase.
March 22, 2021: Beaumont Health Launches Study of New Ablation Procedure for Atrial Fibrillation --
A clinical study of a new cardiac ablation procedure for patients with an irregular heartbeat has launched at Beaumont Health, a worldwide leader in the treatment of atrial fibrillation, or AFib. Researchers at Beaumont, Royal Oak are testing whether pulsed field ablation to treat AFib improves success rate, reduces complications and decreases treatment time when compared to traditional ablation procedures. Beaumont is one of 30 sites around the world - 15 in the United States - and the only site in Michigan participating in the study. Beaumont is also one of the only health systems in Michigan with a center dedicated to treatment of AFib.
Market is segmented based on the type, applications, companies and regions.
By Type, it is segmented into
By Application, it is segmented into
North America held the greatest share of the global electrophysiology devices market in 2021, and this trend is expected to continue throughout the forecast period. An increase in new product approvals, a rise in demand for electrophysiology devices, acquisitions, partnerships, or collaborations, as well as regional expansion by regional players in the U.S. and Canada, are all factors that have contributed to the region's electrophysiology devices market growth. In 2021, Europe was the second-largest market for electrophysiology equipment. The area offers less prospects to new entrants because it already has a strong network of important companies. Asia Pacific is a developing region with significant growth potential. During the forecast period, the market in the region is anticipated to expand at a CAGR of 9.1%.
The Electrophysiology Equipment Market describes the factors driving the global growth opportunities in upcoming years and highlights market channels. In addition, the report analyzes market size and share, trends, by geographic region, end-use type and segment. It focuses extensively on revealing a detailed regional analysis. The Global Electrophysiology Equipment Market report also conducted a PESTEL analysis of the industry to study the main influencing factors and entry barriers of the industry.
Report Attributes | Report Details |
Forecast Period 2022 to 2027 CAGR | CAGR of 11.2% over the forecast period (2022-2027) |
By Type |
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By Application |
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By Companies | Olympus, Nikon Instruments Inc., Carl Zeiss Microscopy, Leica Microsystems, Prior Scientific Instruments Ltd., Siemens Healthineers, Hitachi, Abbott Laboratories, Acutus Medical, Inc., Nihon Kohden Corporation, Biosense Webster, Inc., Boston Scientific Corporation, GE Healthcare, Medtronic plc, Koninklijke Philips N.V., Biotronik SE & Co.KG, Microport Scientific Corporation |
Regions Covered |
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Countries Covered |
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Base Year | 2022 |
Historical Year | 2017 to 2021 |
Forecast Year | 2022 to 2027 |
Number of Pages | 102 |
Customization Available | Yes, the report can be customized as per your needs |
What is the growth rate of Electrophysiology Equipment Market?
The Electrophysiology Equipment Market is growing at a CAGR of 11.2% over the next 5 years.
Who are the key players in Electrophysiology Equipment Market?
Olympus, Nikon Instruments Inc., Carl Zeiss Microscopy, Leica Microsystems, Prior Scientific Instruments Ltd., Siemens Healthineers, Hitachi, Abbott Laboratories, Acutus Medical, Inc., Nihon Kohden Corporation, Biosense Webster, Inc., Boston Scientific Corporation, GE Healthcare, Medtronic plc, Koninklijke Philips N.V., Biotronik SE & Co.KG, Microport Scientific Corporation
What are the significant types of Electrophysiology Equipment Market?
Monitoring Devices, Treatment Devices
What are the major end-use applications of Electrophysiology Equipment Market?
Universities, Hospitals, Laboratory
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SECONDARY RESEARCH
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PRIMARY RESEARCH
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