전기생리학 시장 평가 : 제품별, 적응증별, 최종사용자별, 지역별, 기회 및 예측(2017-2031년)

Global electrophysiology market is projected to witness a CAGR of 13.13% during the forecast period 2024-2031, growing from USD 8.92 billion in 2023 to USD 23.94 billion in 2031. Growth in the global electrophysiology market is driven by various factors, such as increasing prevalence of cardiovascular diseases among the global population and a rising geriatric population. Technological advancements and the growing medical devices industry are other factors leading to the growth of this market. Moreover, establishing a favorable regulatory system, the presence of several top players and new entrants, rising collaborative activities, and frequent new product launches are accelerating the market growth.

Apart from this, the increasing prevalence of cardiovascular diseases, especially among the rising geriatric population, across the globe is acting as another growth-inducing factor. This, in turn, has made people more conscious about heart-related ailments, such as atrial fibrillation and supraventricular tachycardia, further accelerating the application of electrophysiology for treating these diseases. Electrophysiology devices are highly reliable tools for information about abnormally fast or slow heart rhythms. Due to this, there is a huge interest of public and private organizations to invest in these devices. Technological advancements in the industry and increased investments by public and private organizations are leading to the increased demand for this market at the global level.

Increased research and development activities, favorable regulatory frameworks, and frequent product launches by market players further enhance the global electrophysiology market. Additionally, there has been increased FDA approvals for innovative products for improved patient outcomes, supporting market growth. For instance, Medtronic plc, a pioneer in healthcare technology, received FDA approval for two electrophysiology devices, Aurora EV-ICD MRI SureScan and Epsila EV MRI SureScan defibrillation. These devices are highly efficient and launched to treat dangerously fast heart rhythms, which can cause sudden cardiac arrest. Moreover, consistent collaboration activities, such as mergers and acquisitions, partnerships, and distribution agreements between the organizations, further propels the global electrophysiology market.

Increasing Prevalence of Cardiovascular Diseases

The surge in the global electrophysiology market can be attributed to the increasing prevalence of cardiovascular diseases worldwide. For instance, according to "World Heart Report 2023", in the year 2021, cardiovascular diseases affected over 500 million individuals globally, resulting in 20.5 million deaths, which represents nearly one-third of all global fatalities. As these cases increase, the demand for electrophysiology devices also increases. These devices play a crucial role in diagnosing, monitoring, and controlling abnormal heart rhythms that further reduces the chances of fatal health conditions such as heart failures and cardiac arrest. Moreover, key market players are consistently investing in developing innovative and advanced electrophysiology solutions to cater to the need of this growing population suffering from fatal heart conditions, which, in turn, is favoring the market growth.

Technological Advancements

With the growing demand for electrophysiology treatment options, there has been increased research and development activities in the market to introduce innovative and technologically advanced product variants. Innovations, such as integrated remote monitoring system and use of artificial intelligence (AI), are helping the market expand at the global level. For instance, in September 2023, Kestra Medical Technologies announced the launch of "ASSURE Wearable Cardioverter Defibrillator (WCD) system", which can be easily and comfortably worn by patients. This system uses a remote patient data platform that assists in monitoring and protecting patients at the risk of sudden cardiac arrest. Due to these innovative, beneficial technological advancements by the market players, the global electrophysiology market is expected to flourish.

Increased Demand for Treatment Devices in the Electrophysiology Market

Among the product segment, treatment devices in the electrophysiology market hold a significant share and are expected to maintain its leadership in the overall global electrophysiology market. Frequent product launches by the leading players, along with increased regulatory frameworks, lead to faster growth of the electrophysiology market. Due to this, several market players are consistently developing electrophysiology devices for treating abnormal heart rhythms in their product portfolio. For instance, in February 2023, Abbott launched two products that have recently received FDA approvals in the electrophysiology market. The first one is TactiFlex Ablation Catheter, which is sensor-enabled and the world's only CE-marked ablation catheter available with a flexible tip and contact force sensing, approved for treating abnormal heart rhythms such as atrial fibrillation. Abbott's another electrophysiology product "FlexAbility Ablation Catheter" has also received FDA approval for treating patients with complex heart conditions. These innovative product launches by leading players assist in propelling growth of the global electrophysiology market.

High Product Demand in Atrial Fibrillation

Among the indication segment, electrophysiology devices are widely used in atrial fibrillation condition, and it is anticipated that this segment will be the fastest growing segment in this market. As per GE Healthcare, atrial fibrillation is the most common arrhythmic condition that is majorly diagnosed worldwide. It is estimated that, by the year 2050, in the United States, 15.9 million people could be affected by atrial fibrillation and by the year 2060, 17.9 million people in Europe could be affected by this disease. As a result, the application of electrophysiological devices to treat atrial fibrillation is also increasing, leading to its huge demand in this segment. Several market players are developing innovative electrophysiology devices in their product portfolio to expand their market presence. For instance, GE HealthCare announced the launch of CardioVisio, especially for diagnosing and treating atrial fibrillation. This latest product is a digital tool that has been designed to assist clinicians in diagnosing and treating atrial fibrillation disease progression.

North America Holds Significant Market Share

The North American region holds the maximum share in the global electrophysiology market due to its robust healthcare infrastructure and facilities, availability of technologically advanced products, frequent innovative and advanced product launches, favorable regulatory frameworks, and the presence of key market players such as Biosense Webster Inc. and Boston Scientific Corporation. Moreover, the increased prevalence of cardiovascular diseases is also enhancing the growth of this market. For instance, according to Centers for Disease Control and Prevention, the most common cause of death in the United States is heart disease and it also states that over 805,000 Americans suffer a heart attack each year. Due to this, there is increased demand for electrophysiology products, which play a crucial role in providing accurate diagnosis and targeted treatment of heart rhythm disorders. Moreover, favorable regulatory frameworks and increased research and development further drive the growth of this market in North America.

Future Market Scenario (2024 - 2031F)

The global electrophysiology market is expected to grow in the future, primarily due to the increasing prevalence of heart-related health conditions, such as atrial fibrillation and Wolff-Parkinson-White Syndrome, that can lead to heart failure and strokes. Electrophysiology devices reduce the chances of these adverse health outcomes by providing detailed insights, detecting the areas responsible for abnormal heart rhythms, and assisting in potential treatment that further improves quality of life. Technological advancements and increased use of electrophysiology devices in the healthcare industry are other main factors leading to the growth of the global electrophysiology market. Frequent product launches, collaboration activities, and new entrants in this market are expected to flourish in the global electrophysiology market in the forecast period.

Key Players Landscape and Outlook

In the electrophysiology market, several medical device manufacturers are consistently establishing strategic partnerships, and undergoing distribution agreements, which play an essential role in propelling the global electrophysiology market's expansion. These partnerships enable companies to gain informative insights regarding the market trends, access each other's knowledge, resources, markets, and technologies, and invest in research and development activities to bring highly efficient and cost-effective electrophysiology products in the market. Distribution agreements enable companies to broaden their market presence at a global level. These collaborative ventures promote innovation, expedite product development, and contribute to the enduring and robust growth of the global market. For instance, in January 2023, Ra Medical Systems, Inc. announced the successful completion of its stock-for-stock merger transaction with Catheter Precision, Inc., which is a well-established company that works on developing cardiac electrophysiology market. This strategic collaboration will enable technological advancement in this industry as well as further assist in elevating the global electrophysiology market.

Table of Contents

1.Research Methodology

2.Project Scope & Definitions

3.Executive Summary

4.Global Electrophysiology Market Outlook, 2017-2031F

• 4.1.Market Size & Forecast
  • 4.1.1.By Value
  • 4.1.2.By Volume
• 4.2.By Product
  • 4.2.1.Treatment Devices
    • 4.2.1.1.Implantable Cardioverter Defibrillators (ICDs)
    • 4.2.1.2.Automated External Defibrillators (AEDs)
    • 4.2.1.3.Pacemakers
    • 4.2.1.4.CRT-P
    • 4.2.1.5.CRT-D
    • 4.2.1.6.Catheters
    • 4.2.1.7.Others
  • 4.2.2.Diagnostics Devices
    • 4.2.2.1.Holter Monitoring Devices
    • 4.2.2.2.Diagnostic Electrophysiology Catheters
    • 4.2.2.3.Electrocardiograph (ECG)
    • 4.2.2.4.EP Mapping & Imaging Systems
    • 4.2.2.5.Insertable Cardiac Monitors (ICM)
    • 4.2.2.6.Others
• 4.3.By Indication
  • 4.3.1.Atrial Fibrillation (AF)
  • 4.3.2.Supraventricular Tachycardia
  • 4.3.3.Atrioventricular Nodal Re-entry Tachycardia (AVNRT)
  • 4.3.4.Wolff-Parkinson-White Syndrome (WPW)
  • 4.3.5.Bradycardia
  • 4.3.6.Other
• 4.4.By End-user
  • 4.4.1.Hospitals
  • 4.4.2.Diagnostic Centers
  • 4.4.3.Others
• 4.5.By Region
  • 4.5.1.North America
  • 4.5.2.Europe
  • 4.5.3.Asia-Pacific
  • 4.5.4.South America
  • 4.5.5.Middle East and Africa
• 4.6.By Company Market Share (%), 2023

5.Global Electrophysiology Market Outlook, By Region, 2017-2031F

• 5.1.North America*
  • 5.1.1.Market Size & Forecast
    • 5.1.1.1.By Value
    • 5.1.1.2.By Volume
  • 5.1.2.By Product
    • 5.1.2.1.Treatment Devices
    • 5.1.2.1.1.Implantable Cardioverter Defibrillators (ICDs)
    • 5.1.2.1.2.Automated External Defibrillators (AEDs)
    • 5.1.2.1.3.Pacemakers
    • 5.1.2.1.4.CRT-P
    • 5.1.2.1.5.CRT-D
    • 5.1.2.1.6.Catheters
    • 5.1.2.1.7.Others
    • 5.1.2.2.Diagnostics Devices
    • 5.1.2.2.1.Holter Monitoring Devices
    • 5.1.2.2.2.Diagnostic Electrophysiology Catheters
    • 5.1.2.2.3.Electrocardiograph (ECG)
    • 5.1.2.2.4.EP Mapping & Imaging Systems
    • 5.1.2.2.5.Insertable Cardiac Monitors (ICM)
    • 5.1.2.2.6.Others
  • 5.1.3.By Indication
    • 5.1.3.1.Atrial Fibrillation (AF)
    • 5.1.3.2.Supraventricular Tachycardia
    • 5.1.3.3.Atrioventricular Nodal Re-entry Tachycardia (AVNRT)
    • 5.1.3.4.Wolff-Parkinson-White Syndrome (WPW)
    • 5.1.3.5.Bradycardia
    • 5.1.3.6.Other
  • 5.1.4.By End-user
    • 5.1.4.1.Hospitals
    • 5.1.4.2.Diagnostic Centers
    • 5.1.4.3.Others
  • 5.1.5.United States*
    • 5.1.5.1.Market Size & Forecast
    • 5.1.5.1.1.By Value
    • 5.1.5.1.2.By Volume
    • 5.1.5.2.By Product
    • 5.1.5.2.1.Treatment Devices
    • 5.1.5.2.1.1.Implantable Cardioverter Defibrillators (ICDs)
    • 5.1.5.2.1.2.Automated External Defibrillators (AEDs)
    • 5.1.5.2.1.3.Pacemakers
    • 5.1.5.2.1.4.CRT-P
    • 5.1.5.2.1.5.CRT-D
    • 5.1.5.2.1.6.Catheters
    • 5.1.5.2.1.7.Others
    • 5.1.5.2.2.Diagnostics Devices
    • 5.1.5.2.2.1.Holter Monitoring Devices
    • 5.1.5.2.2.2.Diagnostic Electrophysiology Catheters
    • 5.1.5.2.2.3.Electrocardiograph (ECG)
    • 5.1.5.2.2.4.EP Mapping & Imaging Systems
    • 5.1.5.2.2.5.Insertable Cardiac Monitors (ICM)
    • 5.1.5.2.2.6.Others
    • 5.1.5.3.By Indication
    • 5.1.5.3.1.Atrial Fibrillation (AF)
    • 5.1.5.3.2.Supraventricular Tachycardia
    • 5.1.5.3.3.Atrioventricular Nodal Re-entry Tachycardia (AVNRT)
    • 5.1.5.3.4.Wolff-Parkinson-White Syndrome (WPW)
    • 5.1.5.3.5.Bradycardia
    • 5.1.5.3.6.Other
    • 5.1.5.4.By End-user
    • 5.1.5.4.1.Hospitals
    • 5.1.5.4.2.Diagnostic Centers
    • 5.1.5.4.3.Others
  • 5.1.6.Canada
  • 5.1.7.Mexico

All segments will be provided for all regions and countries covered

• 5.2.Europe
  • 5.2.1.Germany
  • 5.2.2.France
  • 5.2.3.Italy
  • 5.2.4.United Kingdom
  • 5.2.5.Russia
  • 5.2.6.Netherlands
  • 5.2.7.Spain
  • 5.2.8.Turkey
  • 5.2.9.Poland
• 5.3.Asia-Pacific
  • 5.3.1.India
  • 5.3.2.China
  • 5.3.3.Japan
  • 5.3.4.Australia
  • 5.3.5.Vietnam
  • 5.3.6.South Korea
  • 5.3.7.Indonesia
  • 5.3.8.Philippines
• 5.4.South America
  • 5.4.1.Brazil
  • 5.4.2.Argentina
• 5.5.Middle East & Africa
  • 5.5.1.Saudi Arabia
  • 5.5.2.UAE
  • 5.5.3.South Africa

6.Market Mapping, 2023

• 6.1.By Product
• 6.2.By Indication
• 6.3.By End-user
• 6.4.By Region

7.Macro Environment and Industry Structure

• 7.1.Demand Supply Analysis
• 7.2.Import Export Analysis
• 7.3.Value Chain Analysis
• 7.4.PESTEL Analysis
  • 7.4.1.Political Factors
  • 7.4.2.Economic System
  • 7.4.3.Social Implications
  • 7.4.4.Technological Advancements
  • 7.4.5.Environmental Impacts
  • 7.4.6.Legal Compliances and Regulatory Policies (Statutory Bodies Included)
• 7.5.Porter's Five Forces Analysis
  • 7.5.1.Supplier Power
  • 7.5.2.Buyer Power
  • 7.5.3.Substitution Threat
  • 7.5.4.Threat from New Entrant
  • 7.5.5.Competitive Rivalry

8.Market Dynamics

• 8.1.Growth Drivers
• 8.2.Growth Inhibitors (Challenges and Restraints)

9.Regulatory Framework and Innovation

• 9.1.Clinical Trials
• 9.2.Patent Landscape
• 9.3.Regulatory Approvals
• 9.4.Innovations/Emerging Technologies

10.Key Players Landscape

• 10.1.Competition Matrix of Top Five Market Leaders
• 10.2.Market Revenue Analysis of Top Five Market Leaders (in %, 2023)
• 10.3.Mergers and Acquisitions/Joint Ventures (If Applicable)
• 10.4.SWOT Analysis (For Five Market Players)

11.Pricing Analysis

12.Case Studies

13.Key Players Outlook

• 13.1.Biosense Webster Inc. (Johnson & Johnson)
  • 13.1.1.Company Details
  • 13.1.2.Key Management Personnel
  • 13.1.3.Products & Services
  • 13.1.4.Financials (As reported)
  • 13.1.5.Key Market Focus & Geographical Presence
  • 13.1.6.Recent Developments
• 13.2.Abbott Laboratories
• 13.3.GE HealthCare Technologies Inc.
• 13.4.Boston Scientific Corporation
• 13.5.Koninklijke Philips N.V.
• 13.6.Medtronic Inc.
• 13.7.MicroPort Scientific Corporation
• 13.8.Molecular Devices LLC
• 13.9.Siemens Healthcare GmbH
• 13.10.Stereotaxis Inc.

Companies mentioned above DO NOT hold any order as per market share and can be changed as per information available during research work.

14.Strategic Recommendations

15.About Us & Disclaimer