Electrophysiology Devices Market to achieve CAGR of 11.1% from 2023 to 2032, owing to the rising prevalence of cardiac arrhythmia | insightSLICE
The market for Electrophysiology Devices was valued at US$ 5.75 billion in 2021 and is projected to increase at a CAGR of 11.1% from 2023 to 2032.
The market share, trends, analysis, and projections for the years 2022 to 2032 are just a few of the topics that will be covered in the report for the Global Electrophysiology Devices Market. Herein, 2020 is used as the historical period, 2021 as the base year, and 2022 through 2032 as the actual prediction period in this study.
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The competitive environment is taken into account in this study, which also offers top competitors in the global market for Electrophysiology Devices manufacturing company overviews and forecasts.
In addition, the report will include information on important advancements, global and regional sales networks, business strategies, research and development initiatives, staff strength, and key executives for all significant market participants.
The key players of the Global Electrophysiology Devices Market are:
Included in our report among other the major companies operating in the global electrophysiology devices market are Medtronic plc, Biotronik SE & Co.KG, Boston Scientific Corporation, GE Healthcare, St. Jude Medical, Inc., Abbott Laboratories, Biosense Webster, Inc. (a Johnson & Johnson Company), Microport Scientific Corporation, Siemens AG, and Koninklijke Philips N.V.
Driving factors for the growth of Global Electrophysiology Devices Market
The main drivers of demand and growth in the global electrophysiology devices market are the high prevalence of cardiovascular diseases, rising awareness, and rising need for heart health diagnostic and monitoring equipment.
The electrophysiological devices employ low-voltage electric pulses to identify and track the existence and location of aberrant rhythms.
Age, elevated blood pressure and cardiac damage after heart attacks all contribute to rhythm abnormalities. This is what has increased demand for cardiac catheterization procedures and electrophysiological equipment.
Due to our sedentary lifestyles combined with rising alcohol, tobacco, and processed food consumption, the burden of heart illnesses has increased dramatically over the past 20 years.
A rapid cardiac arrest brought on by an irregular heart rhythm might result in cardiac failure. As a result, there is a noticeable rise in demand for heart rhythm monitoring equipment. During the forecast period, the market for electrophysiological devices is anticipated to expand significantly.
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Factors covered in our report:
The report includes an in-depth analysis of significant companies with a majority share of the global market, with a priority on all functioning core businesses, and would identify the company’s electrophysiological device segment.
Also evaluated will be the market shares of well-known firms in the worldwide electrophysiology devices market. In particular, the four main business divisions of Medtronic plc are the Cardiac & Vascular Group, the Minimally Invasive Therapies Group, the Restorative Therapies Group, and the Diabetes Group.
According to the firm’s assessment of its market sectors, the company’s Cardiac & Vascular Group business division generated the majority of its USD 30,557 million in reported sales in 2019.
Equipment for electrophysiology is provided mostly by the firm’s Cardiac & Vascular Group product line, which contributed US$11,505 million in revenue in 2019.
The report aims to analyze the essential competitive data, including the strategic plan, market position, and issues, along with the R&D initiatives of all the major companies involved in the electrophysiology devices market.
The participants involved in the industry’s production process as well as market dynamics, as well as their contributions, will be considered in the analysis of the worldwide electrophysiology devices market. The company’s whole line of electrophysiological devices would be the main emphasis of the product range segment of our report.
In a similar vein, the recent developments section would concentrate on the most recent firm developments, such as collaborative relationships and ventures, consolidations, newly released products, and growth and international expansion plans for such companies in the global electrophysiological devices.
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Global Electrophysiology Devices Market Key Segments:
By Type
- Treatment devices
- Implantable Cardioverter Defibrillators (ICDs)
- Automated external defibrillators (AEDs)
- Pacemakers
- CRT-P
- CRT-D
- Catheters
- Others
- Diagnostic devices
- Holter Monitoring Devices
- Diagnostic Electrophysiology Catheters
- Electrocardiograph (ECG)
- EP Mapping & Imaging Systems
- Implantable cardiac monitors (ICM)
- Others
By Indication
- Atrial Fibrillation (AF)
- Supraventricular Tachycardia
- Atrioventricular Nodal Re-entry Tachycardia (AVNRT)
- Wolff-Parkinson-White Syndrome (WPW)
- Bradycardia
- Others
By End Use
- Hospitals
- Ambulatory Surgical Centers
- Others
By Geography:
- North America
- United States
- Canada
- Rest of North America
- Europe
- Germany
- United Kingdom
- Italy
- France
- Spain
- Rest of Europe
- Asia Pacific
- Japan
- India
- China
- Australia
- Rest of Asia Pacific
- Middle East & Africa
- UAE
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
- South America
- Brazil
- Rest of South America
Regional performance of Electrophysiology Devices Market
Given the presence of top device manufacturers, the high incidence of cardiovascular diseases, as well as rising investments in the advancement of cutting-edge product lines, North America accounted for the largest share of the global market for electrophysiology devices in 2019.
It is predicted that this region will continue to dominate the market over the forecast period. In the upcoming years, it is also projected that early adoption of cutting-edge modalities will help the market for electrophysiology devices in North America flourish.
Due to rising cardiovascular disease occurrences, economic stimulation for medical infrastructure, and widespread use of cutting-edge medical equipment, Asia Pacific is expected to have the fastest growth during the projection period.
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