Market Insights and Analysis: Global Electrophysiology Market Overview and Projections (2023-2028)
The Global Electrophysiology Market is projected to grow at a CAGR of around 10.5% during the forecast period, i.e., 2023-28. The market is largely driven by the intensifying burden of cardiac arrhythmias worldwide. The emerging need for high precision and controlled cardiac diagnostic and ablation procedures paired with conducive reimbursement policies is observed to be a solid booster to the adoption of minimally invasive electrophysiology therapies.
Top leading companies in the Global Electrophysiology Market includes:
Abbott, Medtronic, Boston Scientific Corporation, Koninklijke Philips N.V., General Electric Company, Siemens Healthineers International AG, Stereotaxis Inc, Merit Medical Systems, APN Health LLC, Osypka Medical, Japan Lifeline Co Ltd, Johnson Johnson, Biotronik, Microport Scientific Corporation, Cathrx Ltd., Others (Cook Medical, Teleflex Incorporated, etc.)..
Global Electrophysiology Market Key Driver:
The Transcending Burden of Cardiovascular Diseases Worldwide - An alarming rise in the number of cardiac arrhythmias has compelled innovations in the manufacturing of electrophysiology devices. According to WHO, around 17.9 million people succumb to Cardiovascular diseases (CVDs) every year, accounting for 32% of total deaths worldwide. Out of 5, four CVD deaths are due to strokes and heart attacks, with one-third of these deaths occurring in people under 70. Likewise, as per Canadian government health statistics, one out of twelve Canadians lives with heart disease. Backed by behavioral risk factors such as unhealthy diet, physical inactivity, and excess alcohol and tobacco consumption, the patient pool is expected to surge in the coming years, presenting the need for more effective electrophysiology devices. As a result, the market is expected to enthrall in the coming years.
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Report Segmentation:
The market is categorized into the following segments in the report:
By Product
-Electrophysiology Laboratory Devices
-3D Mapping Systems
-Electrophysiology Recording System
-Radio Frequency (RF) Ablation Systems
-Intracardiac Echocardiography (ICE) Ultrasound Imaging Systems
-Electrophysiology X-Ray Systems
-Electrophysiology Remote Magnetic and Robotic Navigation Systems
-Electrophysiology Ablation Catheters
-Cryoablation Electrophysiology Catheters
-Radiofrequency (RF) Ablation Catheters
-Microwave Ablation (MWA) Systems
Laser Ablation Systems
-Electrophysiology Diagnostic Catheters
-Conventional Electrophysiology Diagnostic Catheters
-Advanced Electrophysiology Diagnostic Catheters
-Ultrasound Electrophysiology Diagnostic Catheters
-Access Devices
-Other Products
By Indication Type
-Atrial Fibrillation
-Atrial Flutter
-Atrioventricular Nodal Reentry Tachycardia (AVNRT)
-Wolff-Parkinson-White Syndrome (WPW)
-Other Indications
By End User
-Hospitals Cardiac Centers
-Ambulatory Surgery Centers.
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Global Electrophysiology Market Geographic Reach:
The Geographic Reach of the Global Electrophysiology Market evaluates the spread and significance of Global Electrophysiology market consumption across different regions/country, emphasizing areas with the largest market size and the most promising growth potential.
- North America: US, Canada, Mexico
- Europe: Germany, The UK, France, Spain, Italy, Rest of Europe
- Asia-Pacific: China, India, Japan, Australia, Rest of Asia-Pacific
- South America: Brazil, Argentina
- Middle East Africa: The UAE, Saudi Arabia, South Africa, Rest of MEA.
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