Global Electrophysiology Devices Market was valued at USD 6.31 billion in 2020, growing at a CAGR of 9.73% during the forecast period from 2021 to 2026, it is anticipated to reach USD 9.22 billion by 2026. The major factors such as the demand for electrophysiology devices is primarily being boosted by rising prevalence of cardiovascular diseases, technological advancement in product development, increasing geriatric population, sedentary lifestyle, and increasing awareness programs regarding cardiovascular diseases are expected to drive the Electrophysiology Devices market share. Some of the Electrophysiology Devices Companies with their products in various stages of development include Boston Scientific Corporation, Medtronic Plc., Abbott Laboratories, Biosense Webster, Inc. (Johnson & Johnson), Biotronik SE & Co. KG, GE Healthcare, Siemens Healthcare, and several others.
DelveInsight’s “Electrophysiology Devices Market Insights and Forecast” report provides the current and forecasted Electrophysiology Devices Market trends for the next five years, upcoming innovation in the devices, individual Electrophysiology Devices market shares, challenges, drivers and barriers, and key competitors in the domain.
Electrophysiology Devices Overview
Electrophysiology devices are devices that are used for evaluating the electrical waves in the heart and in order to check the abnormal heart’s rhythm. Electrophysiology devices consist of electrical devices such as the pacemakers, defibrillators and implementation of cardiac resynchronization therapy. Recent launch of the technologically advanced electrophysiology devices such as the new Gallant™ implantable cardioverter defibrillator (ICD) and cardiac resynchronization therapy defibrillator (CRT-D) devices by Abbott in Europe on February 08, 2020 for people suffering from abnormal heart rhythms and heart failure.
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Recent Breakthroughs in Electrophysiology Devices Market
In recent years, the Electrophysiology market observed expansions in terms of clinical, commercial, and clinical development.
- On April 02, 2021, the American College of Cardiology (ACC) had launched the Electrophysiology Device Implant Registry as part of the National Cardiovascular Data Registry (NCDR). It will help the hospitals and other private practices to measure and improve the quality of care that they tend to offer based on data comparisons.
- On October 06, 2021, Boston Scientific had announced the agreement to acquire Baylis Medical Company Inc. for an upfront payment of USD 1.75 billion. The acquisition will expand the Boston Scientific electrophysiology and the structural heart product portfolios comprising the radiofrequency (RF) NRG and VersaCross Transseptal Platforms.
- On November 02, 2020, Abbott had strengthened its electrophysiology portfolio with the new approvals. The company had announced CE mark and approval in Australia for the EnSite XEP System, a cardiac mapping system.
- Thus, owing to the launch of such devices and acquisition done by key players, there will be a significant growth in the ep market during the forecast period.
As per DelveInsight, owing to the ongoing commercial and clinical development, there will be rapid growth in the Electrophysiology Devices market during the forecast period.
Key Players Proactively Working In the Electrophysiology Devices Market
Key Electrophysiology Devices companies contribute a lot to the development of these devices, they are also involved in mergers and acquisitions to strengthen their market position. Some of the companies operating actively in the Electrophysiology Devices included Boston Scientific Corporation, Medtronic Plc., Abbott Laboratories, Biosense Webster, Inc. (Johnson & Johnson), Biotronik SE & Co. KG, GE Healthcare, Siemens Healthcare, and several others.
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The EP market had observed a period of stagnant growth owing to the outbreak of COVID-19. Due to the pandemic situation, all other elective procedures were temporarily stopped, whereas COVID-19 affected patients were given utmost priority. Apart from temporarily stopping because of COVID-19 procedures, several other factors such as the transport and trade related restrictions, and closing of manufacturing facilities were also responsible for causing stagnancy in the electrophysiology devices market growth. Hospitals and other medical facilities were temporarily stopped being visited by patients due to the increased chances of infections.
However, post-COVID-19 infection owing to the normalcy attained in terms of patient visits and relaxation given in COVID-19 guidelines, the healthcare industry has started resuming back to normal operations. Owing to the increase in technologically advanced electrophysiology devices, the demand for electrophysiology devices is expected to rise in the market, further leading to a growth in the ep market growth during the forecast period.
Additionally, the EP market has seen to attain normalcy as several patients suffering from COVID-19 were also suffering from comorbidities which included sudden cardiac arrest and require electrophysiology devices; hence the pandemic has slightly influenced the demand for electrophysiology devices.
To discuss more regarding the short/long term impact of COVID-19 get a snapshot of the report Electrophysiology Equipment Market Assessment
Scope of the Electrophysiology Devices Market Report
- Geography Covered: Global
- Study Period: 2021-2026
- Market Segmentation by Product– Defibrillators, Pacemakers, Cardiac Resynchronization Therapy
- Market Segmentation By End-User – Hospitals, Ambulatory Surgical Centers, and Others
- Market Segmentation By Geography – North America, Europe, Asia-pacific, Rest of world
- Key Electrophysiology Devices Companies in the Market – Boston Scientific Corporation (BSX),Medtronic Plc.(MDT), Abbott Laboratories (ABT), Biosense Webster, Inc. (Johnson & Johnson), Biotronik SE & Co. KG, GE Healthcare, Siemens Healthcare (SHL), and several others.
- Porter’s Five Forces Analysis
- Product Profiles
- Case Studies
- KOL’s Views
- Analyst’s View
Table of Content
- Report Introduction
- Executive Summary
- Regulatory and Patent Analysis
- Electrophysiology Devices Market Key Factors Analysis
- Electrophysiology Devices Market Porter’s Five Forces Analysis
- COVID-19 Impact Analysis on Electrophysiology Devices Market
- Electrophysiology Devices Market Layout
- Electrophysiology Devices Global Company Share Analysis – Key 3-5 Companies
- Electrophysiology Devices Company and Product Profiles
- Project Approach
- KOL Views
- DelveInsight Capabilities
- About DelveInsight
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Key Takeaways from the Electrophysiology Devices Market Report Study
- Market size analysis for current market size (2020), and market forecast for 5 years (2021-2026)
- The effect of the COVID-19 pandemic on this market is significant. To capture and analyze suitable indicators, our experts are closely watching the electrophysiology devices market.
- Top key product/services/technology developments, merger, acquisition, partnership, joint venture happened for last 3 years
- Key companies dominating the Global Electrophysiology Devices Market.
- Various opportunities available for the other competitor in the Electrophysiology Devices Market space.
- What are the top performing segments in 2020? How these segments will perform in 2026.
- Which are the top-performing regions and countries in the current electrophysiology devices market scenario?
- Which are the regions and countries where companies should have concentrated on opportunities for electrophysiology devices market growth in the coming future?
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