The 2023 report on the “Electrophysiology Devices Market” presents a thorough and accurate examination of different factors pertaining to business expansion prospects, challenges, risk elements, and trends in all geographical regions. This report delivers current information on the most recent technological developments, along with SWOT and PESTLE analysis, and valuable insights on market size.
Global Electrophysiology Devices Market is valued at approximately USD $ billion in 2021 and is anticipated to grow with a healthy growth rate of more than $ over the forecast period 2022-2029. Electrophysiology is the test to assist physicians to understand the complexities of abnormal heart rhythm and access electrical heart rhythm to diagnose arrhythmia or irregular heartbeats.
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According to data from the U.S. Bureau of Economic Analysis and the U.S. Census Bureau, the goods and services deficit increased by $1.9 billion from $68.7 billion in January 2023 to $70.5 billion in February. The increase in the goods and services deficit in February was due to a $2.7 billion increase in the goods deficit to $93.0 billion and a $0.8 billion increase in the services surplus to $22.4 billion. Compared to the same period in 2022, the goods and services deficit has dropped this year by $35.5 billion, or 20.3%. $49.5 billion or 10.8% more was exported. 2.2% or $14.0 billion more was spent on imports.
To assess the electrical activity going through blood vessels into the heart, a catheter with a wire electrode is introduced during the procedure. Ablation catheters, a radiofrequency generator, a 3D mapping system, and access devices are examples of electrophysiology devices that are available at hospitals, cardiac centres, and laboratories. The key factor driving the market growth is the increasing prevalence of cardiac arrhythmias such as atrial flutter, atrial fibrillation, and the growing number of approvals for electrophysiology devices, which propel the lucrative demand for the market during the forecast period.
The rise in the prevalence of atrial fibrillation is creating the demand for electrophysiology devices for the treatment. For instance, in 2021, In the United States, Europe, and Asia-Pacific, respectively, 7 million, 14 million, and 20 million people have been diagnosed with atrial fibrillation, as per Johnson & Johnson, a medical device company. Also, rising technological advancement in the field of electrophysiology is anticipated to propel the lucrative opportunity for the market during the forecast period. For instance, in June 2021, the medical technology company BioSig Technology, Inc. develops electrophysiological signal processing technology and highlights the clinical use of its latest software for arrhythmia care. However, the high cost of Electrophysiology Devices stifles market growth throughout the forecast period of 2022-2029.
The key regions considered for the Global Electrophysiology Devices Market study includes Asia Pacific, North America, Europe, Latin America, and Rest of the World. North America is the dominating region across the world in terms of market share, owing to the high cases of cardiac arrest, heart failure, and cardiac arrhythmia in the region. Whereas, Asia Pacific is also anticipated to exhibit the highest growth rate over the forecast period, owing to factors such as the increasing geriatric population, rising risk of heart diseases, and unmet clinical needs that would create lucrative growth prospects for the Electrophysiology Devices market across the Asia Pacific region.
Major market players included in this report are:
Abbott Laboratories
Medtronic Plc
Boston Scientific Corporation
Johnson & Johnson Services, Inc.
Stereotaxis, Inc.
AtriCure, Inc.
AngioDynamics
Biotronik, Inc.
MicroPort Scientific Corporation
Siemens Healthcare AG
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Recent Developments in the Market:
In Apr. 2021, The U.S. FDA approved the Breakthrough Device Designation for the Emprint ablation catheter kit by Medtronic plc. The device has not yet received US approval. The catheter can be used to treat lung lesions with minimally invasive methods.
In Dec. 2020, The launch of the AcQBlate Force Sensing Ablation System in Europe was announced by Acutus Medical. The AcQBlate Force ablation catheter and the Qubic Force sensing module have received the company CE mark.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Type:
Ablation Catheters
Diagnostic Catheters
Mapping Systems
Accessories
By Application:
Atrial Fibrillation
Supraventricular Tachycardia (SVT)
Ventricular Tachycardia
By End User:
Hospitals & ASCs
Specialty Clinics & Diagnostic Centers
By Region:
North America
U.S.
Canada
Europe
UK
Germany
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France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
RoLA
Rest of the World
Some of the Key Questions Answered in this Report:
Market dimension: What is the size of the market at the regional and country level?
Drivers, restraints, opportunities, and challenges: What are the key factors influencing the market and how are they expected to impact it?
International revenue, manufacturing value, consumption value, import and export: What is the economic value and trade dynamics of the market across different regions (North America, Europe, Asia-Pacific, South America, Middle East and Africa)?
Key producers and their working state of affairs: Who are the leading manufacturers in the market industry and what is their current capacity, production, sales, pricing, costs, gross, and revenue?
Possibilities and threats for market carriers: What opportunities and challenges are faced by the vendors in the global market industry?
Incremental growth prospects for application/end-users and product types: Which specific applications or product types are expected to experience growth opportunities? What is the market share of each type and application?
Targeted strategies and constraints: What strategies are being implemented and what constraints are affecting the market?
Sales, marketing, and distribution channels: What are the different channels used for sales, marketing, and distribution in the global industry?
Upstream raw materials, production equipment, and manufacturing process: What are the raw materials, production equipment, and manufacturing processes involved in the market?
Key market trends: What are the significant trends impacting the growth of the market?
Economic impact and development trends: How does the market industry impact the economy, and what are the development trends within the market?
Overall, the report provides comprehensive insights into the market’s size, drivers, challenges, key players, opportunities, trends, and economic impact, offering a holistic understanding of the market industry.
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