Electrophysiology Devices Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Electrophysiology Devices Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Market Overview:

The global electrophysiology devices market size reached US$ 5.7 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 9.6 Billion by 2028, exhibiting a growth rate (CAGR) of 8.7% during 2023-2028.

Electrophysiology (EP) devices refer to various medical equipment that are used for the diagnosis and treatment of cardiological ailments. These devices analyze the electrical impulses of the heart and evaluate abnormal heartbeats. Some of the commonly used EP devices include implantable cardioverter defibrillators (ICDs), pacemakers, automated external defibrillators (AEDs), cryoablation EP catheters, radiofrequency ablation catheters and microwave and laser ablation systems. These devices send and receive electrical signals to and from the heart to regulate the heartbeat in case of an emergency. They are minimally invasive and also aid in removing dysfunctional heart tissues that can cause irregular heart rhythms.

The increasing prevalence of arrhythmia and other cardiovascular diseases (CVDs) across the globe is one of the key factors driving the growth of the market. Furthermore, the rising geriatric population, which is more susceptible to such medical ailments, is also providing a boost to the market growth. The increasing awareness regarding the benefits of EP devices that have minimal risks and higher success rates as compared to the traditionally used devices has created a positive outlook for the market. Additionally, the advent of innovative technologies, such as cryo-, laser and ultrasound ablation and advanced mapping systems, are also contributing to the market growth. Product manufacturers are developing variants that are compact and portable and are also suitable for patients suffering from hypertension, diabetes and other medical ailments. Other factors, including the increasing requirement of EP devices for continuous monitoring, diagnosis and treatment of CVDs in both residential and hospital settings, along with significant improvements in the healthcare infrastructure, are expected to drive the market further.

Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global electrophysiology devices market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on product, indication and end user.

Breakup by Product:

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
Insertable Cardiac Monitors (ICM)
Others

Breakup by Indication:

Atrial Fibrillation (AF)
Supraventricular Tachycardia
Atrioventricular Nodal Re-entry Tachycardia (AVNRT)
Wolff-Parkinson-White Syndrome (WPW)
Bradycardia
Other

Breakup by End User:

Hospitals
Diagnostic Centers
Others

Breakup by Region:

North America
United States
Canada
Asia Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa

Competitive Landscape:
The report has also analysed the competitive landscape of the market with some of the key players being Biosense Webster Inc. (Johnson & Johnson), Biotronik SE & Co. KG, Boston Scientific Corporation, Cardiofocus Inc., Koninklijke Philips N.V., Medtronic Inc., MicroPort Scientific Corporation, Molecular Devices LLC (Danaher Corporation), Nihon Kohden Corporation, Siemens Healthcare GmbH and Stereotaxis Inc.

Key Questions Answered in This Report

1. What was the size of the global electrophysiology devices market in 2022?
2. What is the expected growth rate of the global electrophysiology devices market during 2023-2028?
3. What are the key factors driving the global electrophysiology devices market?
4. What has been the impact of COVID-19 on the global electrophysiology devices market?
5. What is the breakup of the global electrophysiology devices market based on the product?
6. What is the breakup of the global electrophysiology devices market based on the indication?
7. What is the breakup of the global electrophysiology devices market based on the end user?
8. What are the key regions in the global electrophysiology devices market?
9. Who are the key players/companies in the global electrophysiology devices market?