Electrophysiology Market – Industry Trends and Forecast to 2028
MarkNtel Advisors, a prominent market research firm, has recently published a report titled Electrophysiology Market: Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2023-2028. This study offers an in-depth examination of the industry, encompassing Electrophysiology market share, size, trends, and growth predictions. Additionally, the report features an analysis of competitors and regions while spotlighting the most recent developments in the market.
Electrophysiology Reports Highlights
What is the size of the Electrophysiology Market?
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. Atrial Fibrillation, Atrial Flutter, Wolff-Parkinson-White (WPW), Ventricular Tachycardia, And Atrioventricular Nodal Reentry Tachycardia all have rising prevalence and incidence rates. Besides, in order to facilitate better sterility, safety, and affordability, the key market players have switched to disposable catheters for intermittent cardiac procedures, making the demand for disposable catheters skyrocket in the coming years.
What do the growth prospects and trends look like in the Electrophysiology Industry?
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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What Components are encompassed within Electrophysiology Market segmentation?
The report has divided the market into the following segments:
-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
By Indication Type
-Atrioventricular Nodal Reentry Tachycardia (AVNRT)
-Wolff-Parkinson-White Syndrome (WPW)
By End User
-Hospitals & Cardiac Centers
-Ambulatory Surgery Centers
-The Middle East & Africa
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Who are the Primary Companies or Entities active in the Industry?
The report covers the major market players including:
-Boston Scientific Corporation
-Koninklijke Philips N.V.
-General Electric Company
-Siemens Healthineers International AG
-Merit Medical Systems
-APN Health LLC
-Japan Lifeline Co Ltd
-Johnson & Johnson
-Microport Scientific Corporation
-Others (Cook Medical, Teleflex Incorporated, etc.).
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