Electrophysiology Catheters - Market Insights, Competitive Landscape, and Market Forecast - 2030

Electrophysiology Catheters - Market Insights, Competitive Landscape, and Market Forecast - 2030

Electrophysiology Catheters Market By Type (Diagnostic Catheters And Ablation Catheters), Product (Fixed Curve Catheters, Steerable Catheters, Multi-Curve Catheters, Grid Mapping Catheters), End-User (Hospitals & Clinics, Diagnostics Centres, And Others), And Geography (North America, Europe, Asia-Pacific, And Rest Of The World) is expected to grow at a steady CAGR forecast till 2030 owing to the increasing prevalence of cardiovascular diseases and growing risk associated with cardiovascular disorders

The electrophysiology catheters market is estimated to grow at a CAGR of 6.73% during the forecast period from 2024 to 2030. The demand for electrophysiology catheters is primarily being boosted by the increasing prevalence of cardiovascular disorders around the globe. Additionally, the growing risk associated with cardiovascular disorders is another key factor, which is contributing to the growth of the electrophysiology catheters market during the forecast period from 2024 to 2030.

Electrophysiology Catheters Market Dynamics:

According to the data provided by the British Heart Foundation 2024, around 620 million people are living with heart and circulatory diseases across the world. Additionally, the same source stated that globally it’s estimated that 1 in 13 people are living with a heart or circulatory disease.

Further, as per the data provided by the British Heart Foundation UK Factsheet 2024, it was estimated that around 7.6 million people are living with heart and circulatory diseases in the UK. As cardiovascular disorders become more prevalent, there will be a greater need for accurate diagnosis and treatment of such disorders. Electrophysiology Catheters are essentially used for the diagnosis and treatment of heart conditions like atrial fibrillation, ventricular tachycardia, and other arrhythmias. Thus, the increasing prevalence of cardiovascular disorders will drive the growth of electrophysiology catheters during the forecast years.

As per the data provided by the World Health Organization 2022, it was estimated that approximately 1.9 billion people, which accounted for 39% of the world’s population were within the overweight category in 2022, globally. Of these, more than 650 million people were living with obesity, which accounted for approximately 13% of the global population. As obesity is one of the major factors contributing to the increasing prevalence of cardiovascular disorders, therefore with the increase in obesity among the global population, will lead to an increase in cardiovascular disorders, thus in turn contributing to the growth of the electrophysiology catheters market.

However, potential risks or discomforts associated with electrophysiology procedures and the high cost of the equipment and procedure are some of the key constraints that may limit the growth of the electrophysiology catheter market.

Electrophysiology Catheters Market Segment Analysis:

Electrophysiology catheters market by Type (Diagnostic Catheters and Ablation Catheters), Product (Fixed Curve Catheters, Steerable Catheters, Multi-curve Catheters, Grid Mapping Catheters), End-User (Hospitals & Clinics, Diagnostics Centre, and Others), and Geography (North America, Europe, Asia-Pacific, and Rest of the World)

In the product type segment of the electrophysiology catheters market, the fixed curve catheters category is estimated to amass a significant revenue share in the electrophysiology catheters market in 2023. This can be attributed to the various applications and advantages provided by the category that will be responsible for driving the demand for electrophysiology catheters in the market during the given forecast period. Fixed curve catheters maintain a consistent shape, providing reliable access to specific cardiac structures. This consistency aids in precise mapping and ablation of arrhythmogenic sites. Additionally, the fixed curve design offers greater stability compared to steerable catheters, which can be crucial during complex procedures. For certain cardiac arrhythmias, fixed curve catheters simplify navigation within the heart, reducing the complexity of the procedure. Further, they often require less operator skill compared to more complex steerable catheters, making them accessible to a broader range of clinicians. Furthermore, fixed curve catheters can be more cost-effective than their steerable counterparts, providing a budget-friendly option for healthcare facilities without compromising on essential functionality.

Therefore, owing to the above-mentioned factors, the fixed curve catheters category is expected to register significant growth, thereby driving the growth of the overall electrophysiology catheters market during the forecast period.

North America Is Expected To Dominate The Overall Electrophysiology Catheters Market:

North America is expected to account for the highest proportion of the electrophysiology catheters market in 2023, out of all regions. This is due to the growing prevalence of cardiovascular diseases in the region. Additionally, increasing risk factors associated with cardiovascular disorders and growing technological advancement in the domain of electrophysiology devices are some of the key factors that are driving the growth of the electrophysiology catheters market in North America.

As per the data provided by the Centers for Disease Control and Prevention 2024, coronary heart disease is the most common type of heart disease, about 1 in 20 adults age 20 and older are suffering from coronary heart disease in the United States. Additionally, according to the same source every year, around 805,000 people in the United States suffer from heart attacks.

Further, according to the data provided by the Centers for Disease Control and Prevention 2023, it was estimated that around 60 million women (44%), are living with some form of heart disease in the United States. Thus, the increasing prevalence of cardiovascular disorders will create a need for the diagnosis and treatment of such disorders, thus contributing to the growing demand for electrophysiology catheters in the United States, which will in return propel the market for North America electrophysiology catheters.

Further, various product approvals in the region are some of the other factors that are influencing the positive growth of the market in North America. For Instance, in February 2023, MicroPort EP obtained approval from the Food and Drug Administration in the United States (U.S.) for its independently researched and developed EasyFinder™ Fixed Curve Diagnostic Catheter. This product is the first mapping catheter from MicroPort EP to get FDA approval.

Therefore, the factors mentioned above, are some of the important factors that are thereby responsible for driving the overall market for electrophysiology catheters in North America during the forecast period.

Electrophysiology Catheters Market Key Players:

Some of the key market players operating in the Electrophysiology Catheters market include Boston Scientific Corporation, Medtronic, Abbott, Lepu Medical Technology(Beijing)Co., Ltd., BIOTRONIK, Bard, Inc., Johnson & Johnson, ADInstruments, Access Point Technologies EP, Integer Holdings Corporation, Siemens Healthcare Private Limited, MicroPort Scientific Corporation, CardioFocus, and others.

Recent Developmental Activities In The Electrophysiology Catheters Market:

In February 2023, Abbott’s two electrophysiology products received regulatory approvals, one in Europe and the other in the United States.

In September 2022, Johnson & Johnson announced the release of the OCTARAY™ Mapping Catheter with TRUEref™ Technology powered by the CARTO™ 3 Version 7 System. The OCTARAY™ Mapping Catheter was developed for the mapping of cardiac arrhythmias, including atrial fibrillation (AFib).

Key Takeaways From The Electrophysiology Catheters Market Report Study

Market size analysis for current electrophysiology catheters market size (2023), and market forecast for 6 years (2024 to 2030)

Top key product/technology developments, mergers, acquisitions, partnerships, and joint ventures happened over the last 3 years

Key companies dominating the electrophysiology catheter market.

Various opportunities available for the other competitors in the electrophysiology catheters market space.

What are the top-performing segments in 2023? How these segments will perform in 2030?

Which are the top-performing regions and countries in the current electrophysiology catheters market scenario?

Which are the regions and countries where companies should have concentrated on opportunities for electrophysiology catheter market growth in the coming future?

Target Audience Who Can Be Benefited From This Electrophysiology Catheters Market Report Study

Electrophysiology Catheters product providers

Research organizations and consulting companies

Electrophysiology Catheters related organizations, associations, forums, and other alliances

Government and corporate offices

Start-up companies, venture capitalists, and private equity firms

Distributors and traders dealing in electrophysiology Catheters

Various end-users who want to know more about the electrophysiology catheters market and the latest technological developments in the electrophysiology catheters market.

Frequently Asked Questions For The Electrophysiology Catheters Market:

1. What is meant by Electrophysiology Catheters?

Electrophysiology catheters are specialized medical devices used in the diagnosis and treatment of electrical activities within the heart. They play a crucial role in electrophysiology studies (EPS) and catheter ablation procedures.

2. What is the market for Electrophysiology Catheters?

The electrophysiology catheters market is estimated to grow at a CAGR of 6.73% during the forecast period from 2024 to 2030.

3. What are the drivers for the global Electrophysiology Catheters market?

The Electrophysiology Catheters market is slated to witness prosperity owing to factors such as the rising prevalence of cardiovascular disorders around the globe. Additionally, growing technological advancement in the domain of electrophysiology catheters is another key factor, which is contributing to the growth of the electrophysiology catheters market during the forecast period from 2024 to 2030.

4. Who are the key players operating in the global Electrophysiology Catheters market?

Some of the key market players operating in the Electrophysiology Catheters market include Boston Scientific Corporation, Medtronic, Abbott, Lepu Medical Technology (Beijing)Co., Ltd., BIOTRONIK, Bard, Inc., Johnson & Johnson, Stryker ADInstruments, Access Point Technologies EP, Integer Holdings Corporation, Siemens Healthcare Private Limited, MicroPort Scientific Corporation, CardioFocus and others.

5. Which region has the highest share in the global Electrophysiology Catheters market?

North America is expected to dominate the overall Electrophysiology Catheters market during the forecast period, 2024 to 2030. This is due to the growing prevalence of cardiovascular diseases in the region. Additionally, increasing risk factors associated with cardiovascular disorders and growing technological advancement in the domain of electrophysiology devices are some of the key factors that are driving the growth of the Electrophysiology Catheters market in North America.