EP market was valued at $6.499 billion in 2020, and is estimated to reach $22.651 billion by 2030, growing at a CAGR of 14.4% from 2021 to 2030. Electrophysiology is defined as the branch of science that deals with the study of electrical pathway associated with heart nervous system. Electrophysiology devices are designed to measure electric current or voltage change on a wide range of scale from single ion channel protein to organs such as heart. The electrophysiology procedure is used to analyze heart’s electrical system and to manage abnormal heart rhythms.
𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐒𝐚𝐦𝐩𝐥𝐞 𝐑𝐞𝐩𝐨𝐫𝐭 https://www.alliedmarketresearch.com/request-sample/452
The COVID-19 outbreak is anticipated to have a negative impact on growth of the global electrophysiology market. Implementation of lockdown has delayed the ablation procedure; thereby, having a minimal negative impact on the market. The COVID-19 pandemic has stressed healthcare systems in the world and increased the need for advanced hospitals. Many hospitals across the globe, including cardiac centers were restructured to increase hospital capacity for patients diagnosed with COVID-19. This leads to cancellation of many non-essential surgical procedures and the quality of care toward patients other than COVID-19 decreases. This has significantly contributed to decline of the global market.
Rise in number of approvals for medical devices is the key factor that further boost growth of the electrophysiology market. In addition, initiatives taken by governments and private organizations to spread knowledge among physicians regarding electrophysiology devices and procedures propel growth of the market.
The global electrophysiology market is segmented into product, indication, end user, and region. On the basis of product, the market is segregated into EP ablation catheters, EP laboratory devices, EP diagnostic catheters, access devices, and others. The EP ablation catheters segment is further subcategorized into cryoablation EP catheters, radiofrequency ablation catheters, microwave ablation systems, laser ablation systems, and navigational advanced mapping accessories. The EP laboratory devices segment is further subcategorized into EP X-Ray systems, 3D mapping systems, EP recording systems, EP remote steering systems, and others.
Further, the EP diagnostic catheters segment is further subcategorized into conventional EP diagnostic catheters, advanced EP diagnostic catheters, and ultrasound EP diagnostic catheters. The EP ablation catheters segment dominated the market in 2020, and this trend is expected to continue during the forecast period, owing to advancements in technology to manufacture innovative electrophysiology market ablation catheter and increase in number of ablation procedure.
Depending on indication, the electrophysiology market is divided into atrial fibrillation (AF), atrial flutter, Wolff-Parkinson-White syndrome (WPW), atrioventricular nodal reentry tachycardia (AVNRT), and others. The atrial fibrillation segment exhibited highest growth in 2020, and is expected to lead during the forecast period, owing to increase in prevalence of atrial fibrillation, increase in geriatric population, and development of electrophysiology market diagnosis & ablation catheters by the medical device industry. By end user, the market is categorized into hospitals & cardiac centers, ambulatory surgery centers, and others.
𝐅𝐨𝐫 𝐏𝐮𝐫𝐜𝐡𝐚𝐬𝐞 𝐈𝐧𝐪𝐮𝐢𝐫𝐲 https://www.alliedmarketresearch.com/purchase-enquiry/452
𝐊𝐄𝐘 𝐅𝐈𝐍𝐃𝐈𝐍𝐆𝐒 𝐎𝐅 𝐓𝐇𝐄 𝐒𝐓𝐔𝐃𝐘
- By product, the EP ablation catheters segment was the highest contributor to the electrophysiology market in 2020.
- On the basis of indication, the atrial fibrillation segment dominated the market in 2020, and is expected to continue this trend during the forecast period.
- Depending on end user, the hospitals & cardiac centers segment led the electrophysiology market in 2020.
- Region wise, North America garnered the largest revenue share in 2020, however, Asia-Pacific is anticipated to grow at the highest CAGR during the forecast period.
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