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Posted by smithmorgan on August 14, 2024 at 5:54pm 0 Comments 0 Likes
Posted by smithmorgan on August 14, 2024 at 5:52pm 0 Comments 0 Likes
Global Electrophysiology Market Size, Share, Growth, Industry Trends and Forecast 2020-2030
The market size of the Global Electrophysiology Market is anticipated to grow from USD 5016.7 million in 2020 to USD 17798.2 million by 2030, at a CAGR of 13.5% approx., during the forecast period.Electrophysiology is a biomedical term dealing with the study of electrical activity within the body. It includes the study of the generation of electrical activity and its effects on the body. Electrophysiological devices are used to detect any abnormality in the electrical pulses generated by the tissues or the cells within the human body. Electrophysiology helps in the diagnosis and management of heart arrhythmias. Arrhythmia is a problem with the rate of the beating of the heart, which means that the heart beats too quickly, or too slowly, or in an irregular pattern.
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Market Dynamics and Factors:
The growing geriatric population coupled with factors such as unhealthy eating, excessive smoking, alcoholism, and others have given rise to various heart ailments, one of which is heart arrhythmia. For instance, according to United Nations Population Fund (UNFPA), the elderly population is estimated to grow from 8.6% in 2011 to 19% of the global population by 2050. This is a major factor driving the electrophysiology market across the globe. Technological advancements in EP devices leading to early diagnosis of cardio-vascular disorders, growing focus of key players to expand their geographic presence in untapped markets are other key reasons fuelling the market growth of electrophysiology devices. Rise in the use of ablation catheters in removing heart tissues that result in abnormal heart beats is another key factor attributing to the growth of the electrophysiology market. For instance, in Canada accounts for 40000 deaths per year due to heart arrhythmias, thus enabling the adoption of EP and ablation catheters in the region. However, high cost of electrophysiology devices, dearth of skilled professionals in the EP market are some factors that are restraining the growth of the electrophysiology market. For instance, in 2017 only 6-8% of cardiologists in the U.S had specialized degree on electrophysiology.
Market Segmentation:
Global Electrophysiology Market – By Product Type
EP Diagnostic Catheters
EP Ablation Catheters
EP Laboratory Devices
Others
Global Electrophysiology Market – By Indication
Atrial Fibrillation
Ventricular Fibrillation
Ventricular Tachycardia
Atrial Tachycardia
Atrial Flutter
Wolff-Parkinson-White Syndrome
Atrioventricular Nodal Reentry Tachycardia
Other Target Diseases
Global Electrophysiology Market – By Geography
North America
U.S.
Canada
Mexico
Europe
U.K.
France
Germany
Italy
Rest of Europe
Asia-Pacific
Japan
China
India
Australia
Rest of Asia Pacific
ROW
Latin America
Middle East
Africa
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Geographic Analysis:
North America will continue to dominate the electrophysiology market in terms of market share followed by Europe during the forecast period. Rise in the number of arrhythmia and cardio vascular cases, presence of well-established players of the EP market, and advanced healthcare facilities are some of the key reasons responsible for the dominance of this region. For instance, according to American Heart Association, in 2016 almost 5.5 million people in the U.S were diagnosed with heart failure and this number is estimated to reach 8 million by 2030. The Asia Pacific market is expected to witness significant growth during the forecast period. Growing medical tourism, increasing rate of heart disorders, and improving healthcare facilities in emerging economies are the major reasons driving the growth of the electrophysiology market in APAC.
Competitive Scenario:
The key players operating in the global electrophysiology market are –
Abbott Laboratories, Biosense Webster Inc., Boston Scientific Corporation, GE Healthcare, Siemens AG, Microport Scientific Corporation, Medtronic PLC., Johnson & Johnson, Philips Healthcare, Biotronik SE & Co.
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How will this Market Intelligence Report Benefit You?
The report offers statistical data in terms of value (US$) as well as Volume (units) till 2030.
Exclusive insight into the key trends affecting the Global Electrophysiology industry, although key threats, opportunities and disruptive technologies that could shape the Global Electrophysiology Market supply and demand.
The report tracks the leading market players that will shape and impact the Global Electrophysiology Market most.
The data analysis present in the Global Electrophysiology Market report is based on the combination of both primary and secondary resources.
The report helps you to understand the real effects of key market drivers or retainers on Global Electrophysiology Market business.
The 2021 Annual Global Electrophysiology Market offers:
100+ charts exploring and analysing the Global Electrophysiology Market from critical angles including retail forecasts, consumer demand, production and more
15+ profiles of top producing states, with highlights of market conditions and retail trends
Regulatory outlook, best practices, and future considerations for manufacturers and industry players seeking to meet consumer demand
Benchmark wholesale prices, market position, plus prices for raw materials involved in Global Electrophysiology Market type
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Decision Foresight is a market research organization known for its reliable and genuine content, market estimation and the best analysis which is designed to deliver state-of-the-art quality syndicate reports to our customers. Apart from syndicate reports, you will find the best market insights, strategies that will help in taking better business decisions on subjects that may require you to develop and grow your business-like health, science, technology and many more. At Decision Foresight, we truly believe in disseminating the right piece of knowledge to a large section of the audience and cover the in-depth insights of market leaders across various verticals and horizontals.
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