Market Definition:
Atrial and ventricular fibrillation, tachycardia, and other diseases that have an impact on the heart are mostly diagnosed and treated with electrophysiology equipment. Healthcare professionals use a variety of tools based on the electrophysiological technique to identify and treat various disorders, including ablation and diagnostic catheters, mapping systems, etc.
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Market Outlook:
The increasing incidence of target diseases and procedures is boosting the growth of the market. According to the WHO, CVD is the largest global cause of death. Age, race, and family history are significant factors influencing the increased prevalence of CVD and strokes. Other risk factors include using tobacco, having high blood pressure (hypertension), having high cholesterol, being obese, being physically inactive, having diabetes, eating unhealthily, and drinking alcohol. The prevalence of CVD is on the rise in part due to conditions like hypertension, diabetes, dyslipidemia, and obesity. By 2030, the American Heart Association projects that 41.4% of US individuals will have hypertension (an increase of 8.4 percent from 2012). Additionally, according to the organization, the cost of CVD will increase from USD 863 billion in 2010 to USD 1,044 billion by 2030. Globally, 17.9 million people passed away from CVD in 2016. According to projections, this number will reach 23.6 million by 2030.
The American Heart Association (AHA) claims that catheter-based ablation techniques have a 90% success rate, and minimal risk of complications, and allow patients to return to their regular activities in a few days. Leading businesses are investing more in the creation of novel cardiac ablation devices to increase success rates and decrease problems during procedures, including Biosense Webster, Medtronic, and Boston Scientific Corporation.
The limited effectiveness of anti-arrhythmic medications in the management of arterial filtration is another factor boosting catheter ablation demand. A study titled Radiofrequency Ablation vs. Antiarrhythmic Drugs as First-Line Treatment of Paroxysmal Atrial Fibrillation (RAAFT 2) presented its findings in Massachusetts (US) in May 2012 at the Heart Rhythm Society meeting, concluding that ablation of AF, when used as a first-line method, was superior to medications that control rhythm.
Because of the intense competition among the existing competitors, the electrophysiology industry is currently quite competitive in terms of pricing. Cardiovascular 3D mapping systems and EP recording systems are two of the more expensive of these items. Cardiovascular 3D mapping systems range in price from USD 250,000 to $800,000 on average at list. A recording setup for EPs costs $160,000. EP methods are typically expensive due to the significant capital, training, and maintenance requirements. A catheter ablation procedure, for instance, typically costs between USD 4,000 and USD 6,500. Because of this and the negative reimbursement situation for these medications in many nations, a sizable portion of the intended patient group cannot afford them.
Due to factors such as healthcare provider consolidation, growing costs from the usage of complicated medical procedures, shifting governmental laws, and limited resources, the cost of developing the EP laboratory has climbed significantly over time. Even though awareness of arrhythmia and the efficacy of electrophysiological products to treat arrhythmia continues to rise in many nations, this is restricting the uptake of these devices.
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Research Objectives:
• Estimates and forecast the overall market size for the total market, across product, service type, type, end-user, and region
• Detailed information and key takeaways on qualitative and quantitative trends, dynamics, business framework, competitive landscape, and company profiling
• Identify factors influencing market growth and challenges, opportunities, drivers and restraints
• Identify factors that could limit company participation in identified international markets to help properly calibrate market share expectations and growth rates
• Trace and evaluate key development strategies like acquisitions, product launches, mergers, collaborations, business expansions, agreements, partnerships, and R&D activities
• Thoroughly analyze smaller market segments strategically, focusing on their potential, individual patterns of growth, and impact on the overall market
• To thoroughly outline the competitive landscape within the market, including an assessment of business and corporate strategies, aimed at monitoring and dissecting competitive advancements.
• Identify the primary market participants, based on their business objectives, regional footprint, product offerings, and strategic initiatives
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Global Electrophysiology Market Segmental Overview
The report analyses the global electrophysiology market based on product type, indication type, end user, and regions.
Key Players:
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Research Scope:
• Scope – Highlights, Trends, Insights. Attractiveness, Forecast
• Market Sizing – Product Type, End User, Offering Type, Technology, Region, Country, Others
• Market Dynamics – Market Segmentation, Demand and Supply, Bargaining Power of Buyers and Sellers, Drivers, Restraints, Opportunities, Threat Analysis, Impact Analysis, Porters 5 Forces, Ansoff Analysis, Supply Chain
• Business Framework – Case Studies, Regulatory Landscape, Pricing, Policies and Regulations, New Product Launches. M&As, Recent Developments
• Competitive Landscape – Market Share Analysis, Market Leaders, Emerging Players, Vendor Benchmarking, Developmental Strategy Benchmarking, PESTLE Analysis, Value Chain Analysis
• Company Profiles – Overview, Business Segments, Business Performance, Product Offering, Key Developmental Strategies, SWOT Analysis
• Market Size in 2021 – $7.2 bn
• Market Size in 2031 – $16.9 bn
• CAGR % – 8.9%
• Historic Period – 2015-2020
• Forecast Period – 2022-2031
• Base Year – 2021
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