Electrophysiology Devices Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Electrophysiology Devices Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Report Format: PDF+Excel | Report ID: SR112023A2620
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Market Overview:

The global electrophysiology devices market size reached US$ 5.7 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 9.6 Billion by 2028, exhibiting a growth rate (CAGR) of 8.7% during 2023-2028.

Electrophysiology (EP) devices refer to various medical equipment that are used for the diagnosis and treatment of cardiological ailments. These devices analyze the electrical impulses of the heart and evaluate abnormal heartbeats. Some of the commonly used EP devices include implantable cardioverter defibrillators (ICDs), pacemakers, automated external defibrillators (AEDs), cryoablation EP catheters, radiofrequency ablation catheters and microwave and laser ablation systems. These devices send and receive electrical signals to and from the heart to regulate the heartbeat in case of an emergency. They are minimally invasive and also aid in removing dysfunctional heart tissues that can cause irregular heart rhythms.

The increasing prevalence of arrhythmia and other cardiovascular diseases (CVDs) across the globe is one of the key factors driving the growth of the market. Furthermore, the rising geriatric population, which is more susceptible to such medical ailments, is also providing a boost to the market growth. The increasing awareness regarding the benefits of EP devices that have minimal risks and higher success rates as compared to the traditionally used devices has created a positive outlook for the market. Additionally, the advent of innovative technologies, such as cryo-, laser and ultrasound ablation and advanced mapping systems, are also contributing to the market growth. Product manufacturers are developing variants that are compact and portable and are also suitable for patients suffering from hypertension, diabetes and other medical ailments. Other factors, including the increasing requirement of EP devices for continuous monitoring, diagnosis and treatment of CVDs in both residential and hospital settings, along with significant improvements in the healthcare infrastructure, are expected to drive the market further.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global electrophysiology devices market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on product, indication and end user.

Breakup by Product:

  • Treatment Devices
    • Implantable Cardioverter Defibrillators (ICDs)
    • Automated External Defibrillators (AEDs)
    • Pacemakers
    • CRT-P
    • CRT-D
    • Catheters
    • Others
  • Diagnostic Devices
    • Holter Monitoring Devices
    • Diagnostic Electrophysiology Catheters
    • Electrocardiograph (ECG)
    • EP Mapping & Imaging Systems
    • Insertable Cardiac Monitors (ICM)
    • Others
       

Breakup by Indication:

  • Atrial Fibrillation (AF)
  • Supraventricular Tachycardia
  • Atrioventricular Nodal Re-entry Tachycardia (AVNRT) 
  • Wolff-Parkinson-White Syndrome (WPW) 
  • Bradycardia
  • Other
     

Breakup by End User:

  • Hospitals
  • Diagnostic Centers
  • Others
     

Breakup by Region:

  • North America
    • United States
    • Canada
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Australia
    • Indonesia
    • Others
  • Europe
    • Germany
    • France
    • United Kingdom
    • Italy
    • Spain
    • Russia
    • Others
  • Latin America
    • Brazil
    • Mexico
    • Others
  • Middle East and Africa
     

Competitive Landscape:

The report has also analysed the competitive landscape of the market with some of the key players being Biosense Webster Inc. (Johnson & Johnson), Biotronik SE & Co. KG, Boston Scientific Corporation, Cardiofocus Inc., Koninklijke Philips N.V., Medtronic Inc., MicroPort Scientific Corporation, Molecular Devices LLC (Danaher Corporation), Nihon Kohden Corporation, Siemens Healthcare GmbH and Stereotaxis Inc.

Report Coverage:

Report Features Details
Base Year of the Analysis 2022
Historical Period 2017-2022
Forecast Period 2023-2028
Units US$ Billion
Segment Coverage Product, Indication, End User, Region
Region Covered  Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered Biosense Webster Inc. (Johnson & Johnson), Biotronik SE & Co. KG, Boston Scientific Corporation, Cardiofocus Inc., Koninklijke Philips N.V., Medtronic Inc., MicroPort Scientific Corporation, Molecular Devices LLC (Danaher Corporation), Nihon Kohden Corporation, Siemens Healthcare GmbH and Stereotaxis Inc.
Customization Scope 10% Free Customization
Report Price and Purchase Option Single User License: US$ 2499
Five User License: US$ 3499
Corporate License: US$ 4499
Post-Sale Analyst Support 10-12 Weeks
Delivery Format PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

Key Questions Answered in This Report

The global electrophysiology devices market was valued at US$ 5.7 Billion in 2022.

We expect the global electrophysiology devices market to exhibit a CAGR of 8.7% during 2023-2028.

The rising geriatric population, along with the increasing awareness regarding numerous benefits of EP devices with minimal risks and higher success rates, represent some of the key factors driving the global electrophysiology devices market.

The sudden outbreak of the COVID-19 pandemic had led to the postponement of numerous elective treatment procedures for cardiological ailments to reduce the risk of coronavirus infection upon hospital visits, thereby limiting the demand for electrophysiology devices.

Based on the product, the global electrophysiology devices market can be segmented into treatment devices and diagnostic devices. Currently, diagnostic devices hold the majority of the global market share.

Based on the indication, the global electrophysiology devices market has been divided into Atrial Fibrillation (AF), Supraventricular Tachycardia, Atrioventricular Nodal Re-entry Tachycardia (AVNRT), Wolff-Parkinson-White syndrome (WPW), Bradycardia, and others, where Atrial Fibrillation (AF) currently exhibits a clear dominance in the market.

Based on the end user, the global electrophysiology devices market can be categorized into hospitals, diagnostic centers, and others. Among these, hospitals currently account for the largest market share.

On a regional level, the market has been classified into North America, Asia Pacific, Europe, Latin America, and Middle East and Africa, where North America currently dominates the global market.

Some of the major players in the global electrophysiology devices market include Biosense Webster Inc. (Johnson & Johnson), Biotronik SE & Co. KG, Boston Scientific Corporation, Cardiofocus Inc., Koninklijke Philips N.V., Medtronic Inc., MicroPort Scientific Corporation, Molecular Devices LLC (Danaher Corporation), Nihon Kohden Corporation, Siemens Healthcare GmbH, and Stereotaxis Inc.

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Electrophysiology Devices Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028
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