Electrophysiology Devices Market

Electrophysiology Devices Market Outlook (2022 to 2033)

Expanding at a high-value CAGR of 8.5%, the global electrophysiology devices market is expected to increase from a value of US$ 9.20 billion in 2023 to US$ 20.80 billion by 2033-end.

An electrophysiology (EP) test is a procedure that is used to evaluate the electrical activity or system of the heart and is used to identify irregular heartbeats or arrhythmias. To conduct the test, catheters are inserted into the blood arteries leading to the heart, followed by wire electrodes that measure electrical activity.

For electrophysiology, which is important for electrodiagnosis and monitoring, measures of the electrical activity of neurons are taken into account in neuroscience. With the substantial improvement in electrophysiology methods, it is now easier to target the heart conditions that cause atrial fibrillation (AF). Since cardiac arrhythmias affect half the population, electrophysiological equipment is used to identify them.

Electrophysiology devices are classified into electrophysiology ablation catheters, electrophysiology diagnostic catheters, electrophysiology laboratory devices, and electrophysiology access devices. Global demand for electrophysiology ablation catheters is expected to increase at a high CAGR of 9.5% from 2023 to 2033.

Ablation is a procedure that restores the functionality of your heart by carefully removing any abnormal tissue. EP ablation is a minimally-invasive surgical procedure that employs catheters to close off the troublesome electrical pathways in the heart.

The apparatus helps remove aberrant heart tissues that lead to erratic heart rhythms. The most popular ablation catheter types are radiofrequency ablation and cryoablation, and both are anticipated to hold sizable market shares due to associated technological improvements.

• In the case of patients who have persistent atrial fibrillation (PeAF) and heart failure (HF), catheter ablation (CA) seems to enhance left ventricular function, according to a study published in 2022 with the title “Optimal Catheter Ablation Strategy for Patients with Persistent Atrial Fibrillation and Heart Failure: A Retrospective Study”.
• Out-of-hospital cardiac arrest (OHCA) affects more than 250,000 Americans annually, according to the Cardiac Arrest Registry to Enhance Survival (CARES) 2021 annual report. Cardiac electrophysiology devices are used more commonly as a result of their ubiquity, which accelerates their sales growth.

Factors anticipated to drive demand for molecular electrophysiology devices during the projected period include growing acceptance of electrophysiology devices in the diagnosis and treatment of cardiovascular illnesses such as atrial fibrillation and rising demand for devices for cardiac rhythm management for continuous monitoring.

Report Attributes	Details
Electrophysiology Devices Market Size (2023E)	US$ 9.20 Billion
Forecasted Market Value (2033F)	US$ 20.80 Billion
Global Market Growth Rate (2023 to 2033)	8.5% CAGR
China Market Growth Rate (2023 to 2033)	8% CAGR
Japan Market Growth Rate (2023 to 2033)	8% CAGR
Germany Market Growth Rate (2023 to 2033)	7% CAGR
Canada Market Growth Rate (2023 to 2033)	7% CAGR
Key Companies Profiled	Abbott Laboratories, Inc. Biosense Webster, Inc. Biotronik SE & Co. KG Boston Scientific Corporation CardioFocus, Inc. Medtronic PLC MicroPort Scientific Corporation Nihon Kohden Corporation Siemens Healthineers Stereotaxis, Inc.

Why is Global Demand for Electrophysiology Devices Surging?

“Introduction of Interventional Cardiology Devices”

The high utilization rates of cardiac diagnostics and monitoring devices for arrhythmias and the growing popularity of ambulatory monitoring systems are boosting sales of diagnostic devices. Some of the EP diagnostic devices are Holter monitors, ECGs, mapping & imaging systems, diagnostic catheters, and implantable cardiac devices. The advent of portable & digital systems and the expanding use of these devices in interventional medical procedures such as catheter placement are fuelling demand for electrophysiology devices.

Automated external defibrillators (AEDs), implantable cardioverter defibrillators (ICDs), pacemakers, and catheters are some of the therapeutic devices. Atrial fibrillation and arrhythmia incidence are rising, cardiac implantable electronic devices are becoming more popular, and healthcare approvals are driving the market for electrophysiology devices.

• For instance, the U.S. FDA granted Abbott clearance for the EnSite X EP System with EnSite omnipolar technology for the treatment of cardiac arrhythmias in January 2022.
• For example, Abbott introduced its sensor-enabled TactiCath Contact Force Ablation Catheter in January 2019. When performing an ablation procedure, the device enables precise imaging of the heart.

During the forecast period, the electrophysiology devices market is expected to grow rapidly due to the increasing prevalence of atrial fibrillation and the introduction of technologically sophisticated solutions.

“Rising Worldwide Prevalence of Cardiovascular Disorders”

Global demand for electrophysiology devices is rising as atrial fibrillation, supraventricular tachycardia, and other heart disorders become more common.

• For instance, the Centers for Disease Control and Prevention (CDC) estimate that 0.5% of the world's population is having atrial fibrillation. Additionally, the disorder affects about 2% of people under the age of 65, whereas it affected about 9% of people over the age of 65 globally.

Another dangerous disorder, ventricular tachycardia, is thought to be the cause of 300,000 fatalities annually in the United States alone. Thus, one of the main factors driving the need for heart surgery devices for monitoring and diagnosis of heart diseases is the rising prevalence of cardiovascular illnesses.

• Nearly half of the American people, according to the American Heart Association, experience cardiovascular disease.
• Additionally, atrial fibrillation (AF), which currently affects more than 16 million individuals in Asia Pacific, is expected to affect 72 million people by the year 2050, according to a report released by Biosense Webster Inc., a subsidiary of Johnson & Johnson Services.

What is Hampering Sales of Electrophysiology Devices?

“Presence of Alternative Technologies and Frequent Product Recalls”

One of the key factors predicted to restrain the growth of the electrophysiology devices market during the forecast period is the frequent product recalls involving equipment used for ablation operations.

• For instance, EP Ablation Cables were recalled by Sterilmed Inc. in May 2017. Before that, Biosense Webster had to recall their Class 2 Lasso NAV Duo Loop eco catheters in 2015 because retraction was problematic.

Sales of electrophysiology devices may be hampered by the high costs of related products and inadequate reimbursement policies. On the other hand, the demand for electrophysiology medical devices may face difficulties due to the accessibility of alternative technologies and the shortage of experienced workers in developing countries.

Country-wise Analysis

How is Demand for Electrophysiology Devices Progressing in the United States?

“Increasing Cases of Heart Failure and Presence of Key Market Players”

The United States currently dominates the North American electrophysiology market due to the existence of established healthcare facilities, technological advancements, increasing cases of arrhythmia and heart failure, and the presence of major market players in the nation. This dominance is predicted to continue throughout the forecast period.

A large number of Americans are obese and are more likely to experience cardiovascular problems at least once in their lifetime, which is predicted to fuel sales of electrophysiology implants.

• For instance, according to the World Obesity Atlas 2022 report, by 2030, nearly two-fifths of women (39.72%) and one in three males (34.41%) are expected to have a BMI below 30 kg/m2.
• For instance, in January 2022, Abbott declared that the EnSite X EP System with EnSite Omnipolar Technology (OT), a new cardiac mapping platform accessible in the United States and throughout Europe and intended to assist doctors in treating abnormal heart rhythms, also known as cardiac arrhythmias better had received approval from the United States Food and Drug Administration.

What are the Common Factors Driving Product Sales Growth in Germany & France?

“Rising Cases of Cardiac Arrhythmias and Presence of Advanced Healthcare Facilities”

Germany has a remarkable healthcare system with the most technologically advanced medical equipment for its electrophysiology labs. More than 30% of hospitals in Germany have EP lab facilities. The potential patient base, state-of-the-art healthcare facilities, cutting-edge interventional techniques, and highly qualified medical staff are propelling the growth of the German electrophysiology market.

In 2019, more than 81% of atrial fibrillation studies in Germany underwent ablation operations, with more than 55% of instances having been detected. Germany dominates the European electrophysiology devices market due to its high diagnosis rate, government lab facilities, awareness of cardiac arrhythmias, and use of electrophysiological techniques.

In France, therapeutic interventions and research in the field of cardiac arrhythmias are advancing. The high incidence rates of cardiac arrhythmias, the significant proportion of cardiac interventional treatments, and France's emphasis on healthcare as a national obligation are all contributing to the country's thriving electrophysiology devices market.

Which are Profitable Markets for Electrophysiology Device Producers in Asia Pacific?

“Rapidly Advancing Medical Sector in China & Japan”

The market in Asia Pacific is anticipated to grow at a rapid rate throughout the anticipated timeframe. The region's expansion is mostly driven by the high proportion of elderly people, rising heart disease risk, and unmet therapeutic needs.

Additionally, it is anticipated that developing healthcare infrastructure, greater patient awareness, and higher healthcare spending in the nations such as China, South Korea, Japan, and India will drive demand for EP systems.

• For instance, Shanghai Microport EP Medtech Co., Ltd. and Stereotaxis, Inc. collaborated in August 2021. According to the terms of the contract, Microport EP is to represent EP in China in the distribution of Robotic Magnetic Navigation technology.

A renowned Japanese inventor and manufacturer of cardiovascular devices, Japan Lifeline (JLL), and Baylis Medical have teamed up to bring cutting-edge electrophysiological treatment solutions.

Category-wise Analysis

For Which Disease Type are Electrophysiology Devices Widely Used?

“Rising Prevalence of Atrial Fibrillation Worldwide”

A majority of the market share is dominated by atrial fibrillation, in terms of indication. It is the most prevalent kind of arrhythmia worldwide and is strongly linked to a high risk of blood clotting and stroke.

• In 2022, the British Heart Association predicted that 1.5 million people in the United Kingdom will have atrial fibrillation. In addition, the nation's undetected atrial fibrillation (AF) affects an estimated 270,000 people 65 and older. The sales of electrophysiology medical devices are boosting due to the rising prevalence of AF.

For arrhythmic patients, cutting-edge smartphone applications have recently been developed that can link them with medical specialists. Additionally, clinical and hospital settings are making efforts to incorporate arrhythmia management into their standard course of care.

• For instance, AFib Integrated Care Clinic, a new clinic for people with atrial fibrillation, has been established by UNC AFib Care Network.

Competitive Landscape

Leading companies in the electrophysiology devices market are Abbott Laboratories, Inc, Biosense Webster, Inc, Biotronik SE & Co. KG, and Boston Scientific Corporation.

Some of the key players in the electrophysiology devices market are strongly concentrating on emerging economies to capture potential opportunities by focusing on local supply chain management. They also manage pricing trends, product standards, and safety regulations according to regional marketing tactics.

New Developments :

• Excellent potential for investors to expand in the region is provided by the untapped developing markets in Asian countries such as India and China. For instance, in India, Medtronic released the Micra AV in June 2021. It is a small, entirely self-contained pacemaker that offers AV block sufferers cutting-edge pacing technology through minimally-invasive procedures.
• Koninklijke Philips N.V. declared in November 2021 that it has acquired Cardiologs, a French company that makes medical technologies. With the use of the company's cloud and AI technology, the acquisition will help Philips grow its cardiac diagnostics and monitoring business.
• February 2022: Medtronic said that Freezor and Freezor Xtra Cardiac Cryoablation Focal Catheters, the first and only ablation catheters licensed to treat the rising prevalence of juvenile Atrioventricular Nodal Reentrant Tachycardia, had obtained FDA extended approval (AVNRT).

Key Segments of Electrophysiology Devices Industry Research

• By Product :

  • Electrophysiology Ablation Catheters
  • Electrophysiology Diagnostic Catheters
  • Electrophysiology Laboratory Devices
  • Access Devices

• By Indication :

  • Atrial Fibrillation (AF)
  • Atrial Flutter (AFL)
  • Atrioventricular Nodal Reentrant Tachycardia (AVNRT)
  • Wolff-Parkinson-White Syndrome (WPW)
  • Bradycardia

• By End User :

  • Hospitals
  • Ambulatory Surgical Centers
  • Laboratories

• By Region :

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia & Oceania
  • MEA