Electrophysiology Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2018 - 2028

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Electrophysiology Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2018 - 2028

Status : May, 2020 | Medical Devices | PPT format

Report Digest


Global Electrophysiology Market: Overview

Electrophysiology, or more popularly cardiac electrophysiology, are tests used to study the electrical activity of heart used in the diagnosis and treatment of the abnormalities in heart rhythms notably arrhythmias The studies have gained wide acceptance in clinical diagnostics for understanding the cause of arrhythmias. The use of the tests correlates well with the use of non-invasive technologies for treating arrhythmias notably atrial fibrillation, ventricular tachycardia, and atrial flutter. The tests are a useful guide to general and interventional cardiologists to design optimal treatment plans to manage irregular heartbeat conditions, including potentially serious ones. Rapid advances made in cardiac electrophysiology over the past few years have underpinned evolution of the market. The large magnitude of healthcare burden that atrial fibrillation (AF) brings is a key factor catalyzing the market’s growth.

Global Electrophysiology Market: Key Trends

The rising incidence and substantial prevalence of atrial fibrillation is a key factor driving the electrophysiology market. AF has emerged as a global health care problem, especially in developed nations, with several risk factors such as hospitalization, thromboembolic events, and heart failure. Constant advances in EP technologies have led to the advent of novel devices such as 3D mapping systems, remote steering systems, and irrigated-tip RF catheters. The rising demand for these tests in baby boomer cohorts is also fueling the expansion of the electrophysiology market. However, increased preference to pharmaceutical interventions to ablation and the paucity of skilled electrophysiologists are factors that constrain the market to witness its full potential. Nevertheless, rapidly aging populations with high blood pressure is also catalyzing the demand for electrophysiology tests.

Global Electrophysiology Market: Market Potential

The advent of innovative technologies and modern procedures has helped expand the prospects of the electrophysiology market. The adoption of a combination of procedures has a positive bearing on current ablation methods. A key challenge in developing an effective ablation strategy for treatment of ventricular arrhythmias is identification of the areas of the heart responsible for such abnormalities. Ventricular arrhythmia is one of the main causes of sudden cardiac death and hence a key factor of mortality in patients with ventricular tachycardia.

A recent research has found that combining functional imaging with structural imaging of patients helps doctors identify the tissues in heart that are more prone to the condition. The study tested the effect of combining magnetic resonance imaging with a specific type of SPECT imaging on 15 patients with ischemic cardiomyopathy. Ablation of ventricular tachycardia has become established itself as an effective treatment for patients who have had heart attacks. Hence the findings of such studies help improve the outcomes.

Global Electrophysiology Market: Regional Outlook

On the regional front, developed regions are expected to contribute sizeable shares of revenues to the global electrophysiology market. Increasing prevalence of cardiac arrhythmias and rapid uptake of innovative electrophysiology procedures are expected to bolster the expansion of the North America electrophysiology market during the assessment period (2018–2026). The growth is also propelled by rising demand for cardiology interventional procedures across the regional population. On the other hand, Asia Pacific is likely to hold vast potential in the global electrophysiology market. The growth is fueled by vast unmet needs and rising awareness about the procedures to reduce the risk of heart attacks in patient populations in numerous emerging economies.

Global Electrophysiology Market: Competitive Landscape

Prominent manufacturers of electrophysiology devices are constantly bringing advancement in technology aimed toward improving the contemporary ablation strategies. Several players in the electrophysiology market are also likely to shift their attention toward unmet needs in emerging economies across the globe. Some of the key players are Abbott Laboratories, Biotronik SE & Co.KG, GE Healthcare, Medtronic, Inc., Boston Scientific Corporation, and Biosense Webster, Inc.

The study presents a granular assessment and quantitative evaluation of:

  • Key growth factors and prominent trends
  • Size and share of key segments in overall market
  • Key challenges and winning imperatives
  • Factors shaping competitive landscape
  • Insights into how contours of market will change in coming years
  • Technological advances
  • New avenues and imminent investment pockets
  • Regulatory landscape shaping current and future strategies of companies

The region-wise assessment includes market dynamics in:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The study is prepared with the help of an extensive primary and secondary research. Primary research includes but not limited to interactions, interviews, surveys, and events. Opinions of policy makers and industry experts are carefully integrated into the insights to complement primary research. Volumes of secondary data gleaned through renowned paid sources, annual statements, reputed journals, and government documents offer insights into current dynamics and key evolution trajectories the market is likely to assume. The research employs various industry-wide analytics methods and well-established methodologies to ascertain the attractiveness of key segments. Further, it evaluates the lucrativeness of key regions and factors underlying their maturity. The insights notably include a detailed analysis of forces behind vendor differentiation and offers insight into investment-decision making by prominent players.

The report strives to enlighten businesses and industry stakeholders on multiple facets of the growth dynamic of the market, the key of which include answers to:

  • Which key factors will shape the competitive landscape?
  • Which trends will stimulate research and development activities in different geographies?
  • Which are the lucrative growth areas and what is the size of potential they are likely contribute to the overall market?
  • Which disruptions in market growth are likely to come with the new business models?
  • Which are some of the recent overhauls in policies that may change the course of the market significantly?
  • Which are the geographies that will form sizable sources of new streams to new and established players alike?
  • How are top players likely to realign their strategy to counter the forces of competition?
  • Which key strategies emerging players are likely to focus on to consolidate their position?
  • Which changes in end-user preferences might affect the status quo held by the leading players?
  • Which are some of the game-changing innovations influencing the projected share and revenue of the market and its segments?

Note: Utmost care has invariably been taken to present data and arrive at statistics at all the TMR Research reports. Meanwhile, some recent developments and new industry trends may take time to be included in the reports.

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