The global electrophysiology market is forecast to grow at a compound annual growth rate (CAGR) of more than 9% during the forecast period from 2021-2030.
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In order to produce a holistic assessment of the market, a variety of factors is considered, including demographics, business cycles, and microeconomic factors specific to the market under study. Electrophysiology Market report 2021 also contains a comprehensive business analysis of the state of the business, which analyzes innovative ways for business growth and describes critical factors such as prime manufacturers, production value, key regions, and growth rate.
This study aims to define market sizes and forecast the values for different segments and countries in the coming eight years. The study aims to include qualitative and quantitative perspectives about the industry within the regions and countries covered in the report. The report also outlines the significant factors, such as driving factors and challenges, that will determine the market’s future growth.
Electrophysiology is a branch of biomedicine focused on analyzing the body’s electrical activity. Electrophysiology equipment refers to instruments used to diagnose and treat heart disorders like tachycardia and atrial fibrillation.
Factors Affecting
Electrophysiology is a relatively new market compared to all the other medical devices markets, thus driving more and more players to adopt this technology, which is forecast to grow in the near future.
The development of improved mapping and guidance technologies has improved medical treatment and cardiac rhythm monitoring. One of the major factors driving the market growth is the growing adoption of advanced technology in electrophysiology devices.
Healthcare facilities are implementing electrophysiology devices to treat such devices, including diagnostics, treatment, and monitoring of the heart’s well-being. This feature is crucial to driving the market forward.
A scarcity of medical experts is also a concern in the market. In addition, the cost of obtaining electrophysiological procedures is significantly higher because of these factors. Lack of coverage for these procedures slows down the market growth.
Impact Analysis of COVID-19
There has been a mixed effect of Covid-19 on the global electrophysiology market. The lockdown protocols of social distancing and others had become a significant source of market disruption. Market growth was heavily impacted by patients’ avoiding hospitals and other health care facilities, which negatively impacted demand for electrophysiology devices. As a result, people with cardiac problems are more susceptible to Coronavirus infection and are more likely to experience a heart attack. Therefore, the use of electrophysiology for the diagnosis and treatment of heart-related disorders has skyrocketed, fueling market growth.
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Regional Analysis
North America dominates the global electrophysiology market. It is due to a variety of factors including, an increase in heart-related medical disorders such as cardiac arrest, heart attacks, arrhythmias, and so on due to changing lifestyles and a lack of physical activity. In addition, favorable reimbursement policies have contributed to the growth of electrophysiology in this region.
The U.S. Bureau of Economic Analysis and the U.S. Census Bureau reports that the goods and services deficit rose from $68.7 billion in January 2023 to $70.5 billion in February, an increase of $1.9 billion. 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, the goods and services deficit increased in February. The goods and services deficit has decreased this year by $35.5 billion, or 20.3% when compared to the same period in 2022. $10.8% more, or $49.5 billion, was exported. Imports cost $2.2% more, or $14.0 billion, than exports.
Leading Competitors, The leading competitors in the global electrophysiology market are:, Acutus Medical (U.S.), Acutus Medical (United States), Apn Health, LLC (United States), Biotronik (Europe), Boston Scientific Corporation (United States), CathRx Ltd (Australia), Cook Medical (United States), EPMap-System GmbH (Germany), Ge Healthcare (United States), Imricor Medical Systems (United States), Japan Lifeline (Japan), Johnson & Johnson (United States), Koninklijke Philips N.V. (Europe), Medtronic PLC (Europe), Merit Medical Systems (United States), Microport Scientific Corporation (China), Schwarzer Cardiotek GmbH (Germany), Stereotaxis (United States), Tz Medical (United States), Other Prominent Players.
Scope of the Report
The global electrophysiology market segmentation includes Product Type, Indication, End-User, and Region.
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Segmentation based on Product Type
EP Ablation Catheters
Cryoablation EP Catheters
Radiofrequency Ablation Catheters
Irrigated-tip Radiofrequency Ablation Catheters
Conventional Radiofrequency Ablation Catheters
Microwave Ablation Systems
Laser Ablation Systems
Navigational Advanced Mapping Accessories
EP Laboratory Devices
EP X-Ray Systems
3D Mapping Systems
EP Recording Systems
EP Remote Steering Systems
Others
EP Diagnostic Catheters
Conventional EP Diagnostic Catheters
Steerable Diagnostic Catheters
Fixed Diagnostic Catheters
Advanced EP Diagnostic Catheters
Ultrasound EP Diagnostic Catheters
Access Devices
Others
Segmentation based on Indication
Atrial Fibrillation (AF)
Atrial Flutter
Wolff-Parkinson-White Syndrome (WPW)
Atrioventricular Nodal Reentry Tachycardia (AVNRT)
Others
Segmentation based on End-User
Hospitals
Ambulatory Surgical Centers
Specialty and Diagnostic Centers
Others
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Segmentation based on Region
North America
The U.S.
Canada
Mexico
Europe
Western Europe
The UK
Germany
France
Italy
Spain
Rest of Western Europe
Eastern Europe
Poland
Russia
Rest of Eastern Europe
Asia Pacific
China
India
Japan
Australia & New Zealand
ASEAN
Rest of Asia Pacific
Middle East & Africa (MEA)
UAE
Saudi Arabia
South Africa
Rest of MEA
South America
Brazil
Argentina
Rest of South America
What are the aspects of this report that relate to regional analysis?
The report’s geographical regions include North America, Europe, Asia Pacific, Latin America, the Middle East, and Africa.
The report provides a comprehensive analysis of market trends, including information on usage and consumption at the regional level.
Reports on the market include the growth rates of each region, which includes their countries, over the coming years.
recent market developments, mergers, and acquisitions involving the key players mentioned.
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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