Report Ocean recently published a new research report on the Electrophysiology Devices Market. In addition to prospective prospects, this study offers a historical analysis of growth, cost structure, revenue, market trends, and capacity (2023-2030). The following section offers comprehensive coverage of the Electrophysiology Devices Market across a number of market categories, in-depth research at the country level, and an assessment of the market’s key drivers, restraints, trends, and opportunities.
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 2023-2030.
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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. 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
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By End User:
Hospitals & ASCs
Specialty Clinics & Diagnostic Centers
By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
RoLA
Rest of the World
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This report answers the following key questions:
- How big is the market as a whole in 2021? What rate of market expansion is anticipated between 2022 to 2030?
- Which region would experience a high demand for goods in the years to come?
- What are the variables promoting the market’s expansion?
- Which sub-market will have the most impact on the market?
- What market opportunities exist for established and new players?
- What different short-term and long-term tactics have the market players adopted?
With regard to the COVID-19 Outbreak Impact Analysis:
- In light of COVID-19, the report examined market trends.
- On the basis of the upstream and downstream markets, the study examined COVID-19’s effects on the manufacturing industry’s supply chain.
- We examine how COVID-19 has affected diverse regions and significant nations.
- It is noted how COVID-19 will affect the industry’s future growth.
Examined in the study are:
- Market behavior, risk, and opportunity levels
- An assessment of end-industry behavior and opportunity
- An anticipated timeline for industry recovery.
What is the key information extracted from the report?
- Extensive information on factors estimated to affect the Market growth and market share during the forecast period is presented in the report.
- The report offers the present scenario and future growth prospects Market in various geographical regions.
- The competitive landscape analysis on the market as well as the qualitative and quantitative information is delivered.
- The SWOT analysis is conducted along with Porter’s Five Force analysis.
- The in-depth analysis provides an insight into the Market, underlining the growth rate and opportunities offered in the business.
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