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Global Electrophysiology Market Report
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Global Electrophysiology Market Report

Home Medical Devices Global Electrophysiology Market Report

Global Electrophysiology Market, By Type (Ablation Catheters, Diagnostic Catheters, Mapping System, Accessories and Others), By Application (Atrial Fibrillation, Supraventricular Tachycardia, Ventricular Tachycardia, And Others), By End-User (Hospitals, Ambulatory Surgical Centers, Speciality and Diagnostic Centers and Others), By Region (North America, Europe, Asia-Pacific (APAC), Latin America (LATAM), Middle-East & Africa (MEA) Trend Analysis, Competitive Market Share & Forecast, 2017-2027

  • Published Date: June 2021
  • Report ID: BWC20393
  • Available Format: PDF
  • Page: 151

Report Overview

Electrophysiology is a biomedical field that studies the electric activity in the body. Electrophysiology devices are instruments or tools used to diagnose and treat medical conditions related to the heart such as atrial and ventricular fibrillation, tachycardia, etc.

Global Electrophysiology Market- Industry Trends & Forecast Report 2027

The global electrophysiology market was worth USD 6.4 billion in the year 2020 and is further projected to reach USD 12.1 billion by 2027, growing at the CAGR of 9.6% in the forecast period (2021-2027). The rising prevalence of heart-related medical conditions and expanding use of electrophysiology devices in the diagnosis and treatment of cardiovascular diseases are significant factors contributing to the growth of the electrophysiology market. Furthermore, the market is backed by technological advancements and research and development in the medical field.

Global Electrophysiology Market- Overview

Electrophysiology is a biomedical field that studies the electric activity in the body. Electrophysiology devices are instruments or tools used to diagnose and treat medical conditions related to the heart such as atrial and ventricular fibrillation, tachycardia, etc. There are various types of devices available in the market which uses this technique like mapping systems, diagnostic catheters, etc. The prevalence of heart-related diseases is rising due to various reasons like changing lifestyle, age, consumption of alcohol, etc. For the treatment of the same, healthcare providers constantly use electrophysiology devices.

Global Electrophysiology Market Forecast and Trends

Growth Drivers

Technological Advancements in Electrophysiology Devices

The rising adoption of advanced technology in electrophysiology devices has been one of the significant factors propelling the market growth. The availability of improved mapping and guidance technologies has aided medical treatments as well as the monitoring and maintenance of cardiac rhythm. This aspect will help it grow at a faster rate during the anticipated period. Furthermore, the electrophysiology market is rather new as compared to all the other medical devices markets, due to which more and more players interested in the adoption of this technology are coming up, which is likely to expand the market in the upcoming years.

Rising Prevalence of Heart-Related Medical Conditions

The alarming surge in various heart-related conditions like supraventricular tachycardia, atrial fibrillation is contributing significantly to the growth of the electrophysiology market worldwide. The need for electrophysiology devices for diagnosing, treatment as well as monitoring the well-being of the heart is expanding and healthcare facilities are also adopting these technologies for the treatment of such devices. This feature is essential in propelling market growth forward. The CAGR is expected to increase further as the prevalence of cardiovascular disorders rises, particularly in the urban population.

Restraints

Higher Cost of Electrophysiology Procedures

Electrophysiology is a relatively new medical practice with limited exposure, thus there aren't many healthcare facilities that offer it. It is also heavily reliant on expensive medical equipment, which means that installation costs are extremely high. Furthermore, the market also faces a scarcity of healthcare specialists that can execute this type of surgery. All of this adds up to the overall expense of obtaining these electrophysiological procedures. Also, there are also few reimbursement schemes accessible, which is impeding market expansion.

Impact of Covid-19 on Global Electrophysiology Market

The Covid-19 pandemic situation has had a mixed effect on the global electrophysiology market. However, all the lockdown protocols of social distancing and others had become a major cause of disturbance in the market. The demand for electrophysiology devices declined as patients avoided visiting hospitals and other healthcare facilities, which significantly impacted the market growth. However, people with cardiac problems are more vulnerable to coronavirus infection, and the odds of a heart attack increase severalfold, thus,  the identification and treatment of heart-related medical disorders through electrophysiology have skyrocketed, fueling the market growth.

Global Electrophysiology Market - By Type

Based on types, the global electrophysiology market is categorized into ablation catheters, diagnostic catheters, mapping systems, accessories, and others. The ablation catheters segment held the largest market share in electrophysiology devices in the year 2020. The increasing ablation procedure for the treatment of atrial fibrillation is driving the segment. Diagnostic catheters, on the other hand, are gaining traction and will grow at a positive CAGR during the forecast period. The increasing investment in this segment is a primary driver of its growth.

Global Electrophysiology Market - By Application

Based on applications, the market is segmented into atrial fibrillation, supraventricular tachycardia, ventricular tachycardia, and others. The Supraventricular Tachycardia (SVT) segment dominated the market in the year 2020. SVT is a medical condition where the heart starts beating at an abnormal rate, faster than the usual in the lower two chambers. The rising prevalence of SVTs among people of all demographics has played a crucial factor in the growth of this segment. The presence of advanced catheter ablation procedures is further fueling the segment growth.

Global Electrophysiology Market - By End-User

Based on end-users, the market is categorized into hospitals, ambulatory surgical centers (ASCs), specialty and diagnostic centers, and others. The hospital segment held the largest market share in the market owing to the growing adoption of advanced electrophysiology devices and procedures. The availability of professional cardiologists capable of performing complicated procedures is expected to push the hospital as well as ambulatory surgical centers forward during the forecast period. The ASC has witnessed a very significant surge in demand over the past few years and is expected to grow at a favorable CAGR in the forecast period.

Global Electrophysiology Market - Regional Insights

Geographically, the global electrophysiology market is segmented into North America, Europe, Asia-Pacific (APAC), Latin America (LATAM), and Middle-East & Africa (MEA). North America dominates the market, which may be ascribed to a variety of factors, including an increase in the occurrence of heart-related medical disorders such as cardiac arrest, heart attack, cardiac arrhythmia, and so on as a result of changing lifestyles and a lack of physical activity. Furthermore, favorable reimbursement policies play an important role in the growth of electrophysiology in this region.

Competitive Landscape

The leading market players in the global electrophysiology market are Japan Lifeline, Ge Healthcare, Koninklijke Philips N.V., Epmap-System, Merit Medical Systems, Boston Scientific Corporation, Medtronic PLC, Johnson & Johnson, Stereotaxis, Biotronik, Acutus Medical, Microport Scientific Corporation, Imricor Medical Systems, Cook Medical, Cathrx Ltd, Apn Health, LLC, Acutus Medical, Tz Medical, Schwarzer Cardiotek, and other prominent players. The companies are adopting strategies like mergers, collaborations, partnerships, product launches to expand their market and establish themselves as leading manufacturers of electrophysiology devices.

Recent Developments

  • In April 2021, BioSig Technologies, a renowned medical device firm based in the United States, announced the appointment of two experienced electrophysiology regional directors. The goal of this commercial team expansion is to develop their business operations throughout the South-East and Central regions of America.

  • In April 2021, Acutus Medical, a US-based arrhythmia management company, announced that they have received FDA clearance for the AcQCross, which is a transseptal crossing device. This device is designed to work seamlessly with the sheaths.

Scope of the Report

Attributes

Details

Years Considered

Historical data – 2017-2020

Base Year – 2020

Forecast – 2021 – 2027

Facts Covered

Revenue in USD Million

Market Coverage

North America, Europe, the Asia-Pacific, Latin America, and the Middle East and Africa

Product Service/Segmentation

 By Type, By Application, By End-Users, By Region

Key Players

Japan Lifeline, Ge Healthcare, Koninklijke Philips N.V., Epmap-System, Merit Medical Systems, Boston Scientific Corporation, Medtronic Plc, Johnson & Johnson, Stereotaxis, Biotronik, Acutus Medical, Microport Scientific Corporation, Imricor Medical Systems, Cook Medical, Cathrx Ltd, Apn Health, Llc, Acutus Medical, Tz Medical, Schwarzer Cardiotek, and other prominent players.

 

By Type

  • Ablation Catheters

  • Diagnostic Catheters

  • Mapping System

  • Accessories

  • Others

By Application

  •  Atrial Fibrillation

  • Supra Ventricular Tachycardia

  • Ventricular Tachycardia

  • Others

By End-User

  • Hospitals

  • Ambulatory Surgical Centers

  • Speciality and Diagnostic Centers

  • Others

By Region

  • North America

  • Europe

  • Asia-Pacific (APAC)

  • Latin America (LATAM)

  • Middle-East & Africa (MEA)

1. Research Framework

1.1. Research Objective

1.2. Product Overview

1.3. Market Segmentation

2.    Research Methodology

2.1. Qualitative Research

2.1.1.   Primary and Secondary Sources

2.2. Quantitative Research

2.2.1.   Primary and Secondary Sources

2.3. Breakdown of Primary Research Respondents

2.3.1.   Secondary Research

2.3.2.   Primary Research

2.4. Breakdown of Primary Research Respondents, By Industry Participants

2.5. Key Questionnaire asked during Primary Interviews

2.6. Key Primary Responses

2.7. Market Size Estimation

2.8. Assumption for the Study

2.9. Market Breakdown & Data Triangulation

3.    Executive Summary

4.    Global Electrophysiology Market – Industry Insights

4.1. DROC Analysis

4.1.1.   Growth Drivers

4.1.2.   Restraints

4.1.3.   Opportunity

4.1.4.   Challenges

4.2. Recent Developments / Technical Landscape

4.3. Regulatory Framework

4.4. Porter’s Five Forces Analysis

4.5. Value Chain Analysis

4.6. Strategic Outlook

5.    Global Electrophysiology Market Overview

5.1. Market Estimates & Forecast by Value, 2017-2027

5.1.1.   By Value (USD Million)

5.2. Market Share & Forecast

5.2.1.   By Type

5.2.1.1. Ablation Catheters

5.2.1.2. Diagnostic Catheters

5.2.1.3. Mapping System

5.2.1.4. Accessories

5.2.1.5. Others

5.2.2.   By Application

5.2.2.1. Atrial Fibrillation

5.2.2.2. Supra Ventricular Tachycardia

5.2.2.3. Ventricular Tachycardia

5.2.2.4. Others

5.2.3.   By End-User

5.2.3.1. Hospitals

5.2.3.2. Ambulatory Surgical Centers

5.2.3.3. Speciality and Diagnostic Centers

5.2.3.4. Others

5.2.4.   By Region

5.2.4.1. North America

5.2.4.2. Europe

5.2.4.3. Asia-Pacific (APAC)

5.2.4.4. Latin America (LATAM)

5.2.4.5. Middle-East & Africa (MEA)

6.    North America Electrophysiology Market Overview

6.1. Market Size and Forecast

6.1.1.   By Value (USD Million), 2017-2027

6.2. Market Share and Forecast

6.2.1.   By Type

6.2.2.   By Application

6.2.3.   By End User

6.2.4.   By Country

6.2.4.1. U.S.

6.2.4.2. Canada

7.    Europe Electrophysiology Market Overview

7.1.     Market Size and Forecast

7.1.1.   By Value (USD Million), 2017-2027

7.2.     Market Share and Forecast

7.2.1.   By Type

7.2.2.   By Application

7.2.3.   By End User

7.2.4.   By Country

7.2.4.1.   Germany

7.2.4.2.   U.K.

7.2.4.3.   France

7.2.4.4.   Italy

7.2.4.5.   Spain

7.2.4.6.   Russia

7.2.4.7.   Netherlands

7.2.4.8.   Rest of Europe

8.    APAC Electrophysiology Market Overview

8.1.     Market Size and Forecast

8.1.1.   By Value (USD Million), 2017-2027

8.2.     Market Share and Forecast

8.2.1.   By Type

8.2.2.   By Application

8.2.3.   By End-User

8.2.4.   By Country

8.2.4.1.   China

8.2.4.2.   India

8.2.4.3.   Japan

8.2.4.4.   South Korea

8.2.4.5.   Rest of APAC

9.    LATAM Electrophysiology Market Overview

9.1.     Market Size and Forecast

9.1.1.   By Value (USD Million), 2017-2027

9.2.     Market Share and Forecast

9.2.1.   By Type

9.2.2.   By Application

9.2.3.   By End User

9.2.4.   By Country

9.2.4.1.   Mexico

9.2.4.2.   Brazil

9.2.4.3.   Rest of LATAM

10.MEA Electrophysiology Market Overview

10.1.   Market Size and Forecast

10.1.1.                By Value (USD Million), 2017-2027

10.2.   Market Share and Forecast

10.2.1.                By Type

10.2.2.                By Application

10.2.3.                By End User

10.2.4.                By Country

10.2.4.1.              Saudi Arabia

10.2.4.2.              UAE

10.2.4.3.              South Africa

10.2.4.4.              Turkey

10.2.4.5.              Rest of Europe

11.Competitive Landscape

11.1.1.                List of Key Producers and Their Offerings

11.1.2.                Market Share / Ranking Analysis (2020)

11.1.3.                Competitive Benchmarking, By Operating Parameters

12.COVID-19 Impact

12.1.             Future Impact

12.2.             Key Developments during COVID-19

12.3.             Impact on Market

12.3.1.                Different Scenario

12.3.2.                Impact on Companies

12.4.             Regional Impact

13.Company Profiles (Company Overview, Financial Matrix, Key Product landscape, Key Personnel, Key Competitors, Contact Address, and Strategic Outlook) *

13.1.             Japan Lifeline

13.2.             Ge Healthcare

13.3.             Koninklijke Philips N.V.

13.4.             Epmap-System

13.5.             Merit Medical Systems

13.6.             Boston Scientific Corporation

13.7.             Medtronic Plc

13.8.             Johnson & Johnson

13.9.             Stereotaxis

13.10.          Biotronik

13.11.          Acutus Medical

13.12.          Microport Scientific Corporation

13.13.          Imricor Medical Systems

13.14.          Cook Medical

13.15.          Cathrx Ltd

13.16.          Apn Health, Llc

13.17.          Acutus Medical

13.18.          Tz Medical

13.19.          Schwarzer Cardiotek

13.20.          Other Prominent Players

14.Key Strategic Recommendations

 

 

* Financial information of non-listed Companies will be provided as per availability

 

**The segmentation and the companies are subjected to modifications based on in-depth study during the final deliverable.

 

 

List of Figures

 

Fig: Global Electrophysiology Segmentation

 

Fig: Global Electrophysiology Market Value Chain Analysis,

 

Fig: Company Market Share Analysis, 2020

 

Fig: Global Electrophysiology Market Size, By Value (USD Million), 2017-2027

 

Fig: Global Electrophysiology Market Share (%), By Type, By Value, 2017-2027

 

Fig: Global Electrophysiology Market Share (%), By Application, By Value, 2017-2027

 

Fig: Global Electrophysiology Market Share (%), By End-User, By Value, 2017-2027

 

Fig: Global Electrophysiology Market Share (%), By Country, By Value, 2017-2027

 

Fig: North America Electrophysiology Market Size, By Value (USD Million), 2017-2027

 

Fig: North America Electrophysiology Market Share (%), By Type, By Value, 2017-2027

 

Fig: North America Electrophysiology Market Share (%), By Application, By Value, 2017-2027

 

Fig: North America Electrophysiology Market Share (%), By End-User, By Value, 2017-2027

 

Fig: North America Electrophysiology Market Share (%), By Country, By Value, 2017-2027

 

Fig: Europe Electrophysiology Market Size, By Value (USD Million), 2017-2027

 

Fig: Europe Electrophysiology Market Share (%), By Type, By Value, 2017-2027

 

Fig: Europe Electrophysiology Market Share (%), By Application, By Value, 2017-2027

 

Fig: Europe Electrophysiology Market Share (%), By End-User, By Value, 2017-2027

 

Fig: Europe Electrophysiology Market Share (%), By Country, By Value, 2017-2027

 

Fig: the Asia-Pacific Electrophysiology Market Size, By Value (USD Million), 2017-2027

 

Fig: the Asia-Pacific Electrophysiology Market Share (%), By Type, By Value, 2017-2027

 

Fig: the Asia-Pacific Electrophysiology Market Share (%), By Application, By Value, 2017-2027

 

Fig: the Asia-Pacific Electrophysiology Market Share (%), By End-User, By Value, 2017-2027

 

Fig: the Asia-Pacific Electrophysiology Market Share (%), By Country, By Value, 2017-2027

 

Fig: Latin America Electrophysiology Market Size, By Value (USD Million), 2017-2027

 

Fig: Latin America Electrophysiology Market Share (%), By Type, By Value, 2017-2027

 

Fig: Latin America Electrophysiology Market Share (%), By Application, By Value, 2017-2027

 

Fig: Latin America Electrophysiology Market Share (%), By End-User, By Value, 2017-2027

 

Fig: Latin America Electrophysiology Market Share (%), By Country, By Value, 2017-2027

 

Fig: Middle East & Africa Electrophysiology Market Size, By Value (USD Million), 2017-2027

Fig: Middle East & Africa Electrophysiology Market Share (%), By Type, By Value, 2017-2027

Fig: Middle East & Africa Electrophysiology Market Share (%), By Application, By Value, 2017-2027

Fig: Middle East & Africa Electrophysiology Market Share (%), By End-User, By Value, 2017-2027

Fig: Middle East & Africa Electrophysiology Market Share (%), By Region, By Value, 2017-2027

 

List of Tables

 

Table: Global Electrophysiology Market Size, By Type, By Value, 2017-2027

 

Table: Global Electrophysiology Market Size, By Application, By Value (USD Million), 2017-2027

 

Table: Global Electrophysiology Market Size, By End-User, By Value (USD Million), 2017-2027

 

Table: Global Electrophysiology Market Size, By Region, By Value (USD Million), 2017-2027

 

Table: North America Electrophysiology Market Size, By Type, By Value (USD Million), 2017-2027

 

Table: North America Electrophysiology Market Size, By Application, By Value (USD Million), 2017-2027

 

Table: North America Electrophysiology Market Size, By End-User, By Value (USD Million), 2017-2027

 

Table: North America Electrophysiology Market Size, By Country, By Value (USD Million), 2017-2027

 

Table: Europe Electrophysiology Market Size, By Type, By Value (USD Million), 2017-2027

 

Table: Europe Electrophysiology Market Size, By Application, By Value (USD Million), 2017-2027

 

Table: Europe Electrophysiology Market Size, By End-User, By Value (USD Million), 2017-2027

Table: Europe Electrophysiology Market Size, By Country, By Value (USD Million), 2017-2027

Table: the Asia-Pacific Electrophysiology Market Size, By Type, By Value (USD Million), 2017-2027

Table: the Asia-Pacific Electrophysiology Market Size, By Application, By Value (USD Million), 2017-2027

Table: the Asia-Pacific Electrophysiology Market Size, By End-User, By Value (USD Million), 2017-2027

Table: the Asia-Pacific Electrophysiology Market Size, By Country, By Value (USD Million), 2017-2027

Table: Latin America Electrophysiology Market Size, By Type, By Value (USD Million), 2017-2027

Table: Latin America Electrophysiology Market Size, By Application, By Value (USD Million), 2017-2027

Table: Latin America Electrophysiology Market Size, By End-User, By Value (USD Million), 2017-2027

Table: Latin America Electrophysiology Market Size, By Country, By Value (USD Million), 2017-2027

Table: The Middle-East & Africa Electrophysiology Market Size, By Type, By Value (USD Million), 2017-2027

Table: The Middle-East & Africa Electrophysiology Market Size, By Application, By Value (USD Million), 2017-2027

Table: The Middle-East & Africa Electrophysiology Market Size, By End-User, By Value (USD Million), 2017-2027

Table: The Middle-East & Africa Electrophysiology Market Size, By Country, By Value (USD Million), 2017-2027

Table: Japan Lifeline Financial Analysis

Table: Japan Lifeline Business Overview

Table: GE Healthcare Financial Analysis

Table: GE Healthcare Business Overview

Table: Koninklijke Philips N.V. Financial Analysis

Table: Koninklijke Philips N.V. Business Overview

Table: Epmap-System Financial Analysis

Table: Epmap-System Limited Business Overview

Table: Medtronic PLC Financial Analysis

Table: Medtronic PLC Business Overview

Table: Merit Medical Systems Financial Analysis

Table: Merit Medical Systems Business Overview

Table: Boston Scientific Corporation Financial Analysis

Table: Boston Scientific Corporation Business Overview

Table: Johnson & Johnson Financial Analysis

Table: Johnson & Johnson Business Overview

Table: Stereotaxis Financial Analysis

Table: Stereotaxis Business Overview

Table: Biotronik Financial Analysis

Table: Biotronik Business Overview

Table: Acutus Medical Financial Analysis

Table: Acutus Medical Business Overview

Table: Microport Scientific Corporation Financial Analysis

Table: Microport Scientific Corporation Business Overview

Table: Imricor Medical Systems Financial Analysis

Table: Imricor Medical Systems Business Overview

Table: Cook Medical Financial Analysis

Table: Cook Medical Business Overview

Table: Cathrx Ltd Financial Analysis

Table: Cathrx Ltd Business Overview

Table: APN Health, LLC Financial Analysis

Table: APN Health, LLC Business Overview

Table: Acutus Medical Financial Analysis

Table: Acutus Medical Business Overview

Table: TZ Medical Financial Analysis

Table: TZ Medical Business Overview

Table: Schwarzer Cardiotek Financial Analysis

Table: Schwarzer Cardiotek Business Overview

 

Market Segmentation

By Type

  • Ablation Catheters
  • Diagnostic Catheters
  • Mapping System
  • Accessories
  • Others

By Application

  • Atrial Fibrillation
  • Supra Ventricular Tachycardia
  • Ventricular Tachycardia
  • Others

By End-User

  • Hospitals
  • Ambulatory Surgical Centers
  • Speciality and Diagnostic Centers
  • Others

By Region

  • North America
  • Europe
  • Asia-Pacific (APAC)
  • Latin America (LATAM)
  • Middle-East & Africa (MEA)
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Frequently Asked Questions (FAQs):

Ans: The global electrophysiology market reached USD 6.4 billion in 2020.
Ans: The major factors driving the growth of the global electrophysiology market are technological advancements in electrophysiology devices and the rising prevalence of heart-related medical conditions.
Ans: The key players in the global electrophysiology market are: Japan Lifeline, Ge Healthcare, Koninklijke Philips N.V., Epmap-System, Merit Medical Systems, Boston Scientific Corporation, Medtronic Plc, Johnson & Johnson, Stereotaxis, Biotronik, Acutus Medical, Microport Scientific Corporation, Imricor Medical Systems, Cook Medical, Cathrx Ltd, Apn Health, Llc, Acutus Medical, Tz Medical, Schwarzer Cardiotek, and other prominent players.
Ans: The hospital segment accounted for the largest share in the global electrophysiology market.
Ans: North America has the largest share in the global electrophysiology market.