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$2.36 Billion Global Electrophysiology Devices And Equipment Market Size, Growth, Segmentation And Forecast Report

The Business Research Company’s Electrophysiology Devices And Equipment Market covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market.

The electrophysiology devices and equipment market consists of sales of electrophysiology devices and equipment and related services. Electrophysiology devices and equipment are used in the diagnosis and treatment of heart rhythm disorders through electrical activity. The market is segmented by product type into electrophysiology ablation catheters, electrophysiology diagnostic catheters and electrophysiology lab systems.

 Major players in the market are St. Jude Medical, Boston Scientific Corporation, Abbott Laboratories, GE Healthcare and Philips Healthcare.

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Increase in prevalence rate of cardiovascular diseases (CVD) forms one of the major driver for the industries operating in electrophysiology devices and equipment market. CVD cases remains the leading cause of death across globe, which increases the demand for a quick and effective treatment of the disease, thus increasing the demand for electrophysiology devices. According to the data released by American Heart Association (AHA) in 2019, at least 48% of all the adults in the USA have some form of cardiovascular disease. CVD prevalence excluding high blood pressure among adults in the USA is 9% (24.3 million in 2016). Also, according to the Centers for Disease Control and Prevention (CDC), in 2017, 2.7 to 6.1 million people in the USA were suffering from atrial fibrillation, which is the most common type of heart arrhythmia.

Lack of uniformity in the regulations governing the electrophysiology devices and equipment industry sometimes restrict the companies in the market from expanding globally, thereby hampering the market’s growth. The impact of individual country regulatory requirements can have huge implications to the availability of new electrophysiology devices and equipment. According to regulations in few geographies, the manufacturers are required to conduct clinical trials (premarket and/or post-market) be either in whole or in part within a country. However, in markets such as Brazil, Japan, India, and China where local regulations are still in nascent stage, the cost to run the trials incur to the manufacturers. Example, trials for devices like cardiac rhythm management (CRM) in multiple countries has less merit, and does not reflect the true test results as it becomes difficult for the manufacturers to provide sufficient devices to run tests.

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In order to increase the profit margins and sales, the companies operating in the Electrophysiology (EP) devices and equipment industry are coming up with new technologies aimed towards improving EP mapping and localization technology. EP mapping is a procedure used to diagnose the origins of the abnormal heart rythms. This procedure uses an electrically sensitive catheter. With improved mapping technologies it becomes easy to detect and locate the abnormalities in heart. 

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