Electrophysiology Market size to exceed $17Bn by 2032

Electrophysiology (EP) Market size is anticipated to reach USD 17 billion by 2032, as per a recent research report announced by Global Market Insights Inc.
 

Technological advancements in cardiac ablation and mapping will have a positive impact on the electrophysiology industry outlook. In recent years, the scientific community and manufacturers of medical devices have achieved breakthroughs in arrhythmia treatment with electro-anatomical mapping tech and navigation-enabled ablation catheters. The advent of robots in healthcare and medical devices has enhanced mapping capabilities dramatically. The growing need for technological interventions to better assess abnormalities in heart rhythm and improve care will proliferate the demand for electrophysiology (EP) treatment.
 

Rising prevalence of cerebrovascular disease to fuel demand for EP diagnostic catheters

Electrophysiology market from EP diagnostic catheters is expected to witness over 11% CAGR between 2023-2032. Diagnostic EP catheters are primarily used for intra-cardiac sensing, mapping, stimulation, and recording. These devices are often combined with cardiac ablation procedures along with non-ablation treatment methods such as ICD, pacemaker, or CRT device implantation. Rising incidences of chronic diseases worldwide will fuel the demand for EP diagnostic catheters. Studies have found that patients with cerebral vascular disease increase the risk of arrhythmia and myocardial damage.
 

Browse key industry insights spread 277 pages with 559 market data tables & 13 figures & charts from the report, “Electrophysiology Market Analysis By Product (EP Ablation Catheters {Radiofrequency, Cryoablation, Laser}, EP Diagnostic Catheters {Conventional, Advanced, Ultrasound}, EP Laboratory Devices {Mapping Systems, Recording Systems}), By Indication (Atrial Fibrillation, Ventricular Tachycardia, Atrial Tachycardia, Atrial Flutter, WOLFF-Parkinson-White (WPW) Syndrome, Atrioventricular Nodal Reentry Tachycardia), By End-use (Hospitals, Catheterization Laboratories/EP Laboratories, Ambulatory Surgical Centers), Industry Analysis Report, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2023 – 2032” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/electrophysiology-market
 

Increasing use of EP to treat patients with WOLFF-Parkinson-White (WPW) Syndrome

WOLFF-Parkinson-White (WPW) Syndrome indication segment of the electrophysiology market is projected to reach over USD 2 billion by 2032. The presence of a massive patient pool suffering from cardiovascular diseases (CVDs) will accelerate the demand for EP to treat WPW. According to the World Health Organization (WHO), CVDs are a leading cause of death across the globe, accounting for nearly 32% of all global deaths. In rare cases, WPW syndrome can be life-threatening if patients have irregular heartbeat such as in the case of atrial fibrillation (AF).
 

Automation of catheterization laboratories to showcase a positive industry outlook

Catheterization/EP laboratories accounted for more than 17.5% share of the EP market in 2022. Catheterization (Cath) laboratories are advanced diagnostic facilities fully equipped with high-end healthcare equipment for ablation procedures. Cath labs ensure access to a suite of diagnostic tests and treatments including angioplasty, cardiac ablation, angiogram, and implant surgeries. Rising investments in healthcare infrastructure and the deployment of a skilled workforce will pave segment progress. Furthermore, advancements in artificial intelligence (AI) will help transform cardiac care.
 

Hefty healthcare investments to consolidate the North America industry statistics

North America electrophysiology market was more than 36% in 2022. Over the last decade, countries such as Canada and the U.S. have reported a substantial rise in disposable income and rapid urbanization. The region has also witnessed considerable growth in private and public investments in the healthcare sector. For instance, in October 2022, the U.S. Department of Agricultural (USDA) announced an investment worth USD 110 million to improve healthcare facilities in rural areas across the country. Such initiatives will complement the electrophysiology industry in the region.
 

New joint ventures to boost electrophysiology industry expansion

Japan Lifeline, Medtronic, Abbott Laboratories, GE Healthcare, Biotronik SE & Co. KG, Boston Scientific Corporation, Koninklijke Philips, Microport Scientific Corporation, Johnson & Johnson, Magnetecs Corporation, Siemens AG and Stereotaxis are some of the leading companies in the global electrophysiology industry. These participants are launching innovative products with advanced capabilities.