Electrophysiology Market Outlook 2024: Top Companies, Trends and Growth Factors Details for Business Development

(The Express Wire via Comtex)

This report studies the global Electrophysiology market size, manufacturing status and forecast, competition landscape and growth opportunity. This research report classifies the global Electrophysiology market by companies, region, type and end-use industry.

Global “Electrophysiology Market” report provides detail analysis of all market dynamics including drivers and restraints, and trends and opportunities. Important factors supporting growth across various is also provided. Using the industrial figures, the market finds growth figures between the forecast period from 2019 - 2024. In order to present an executive-level model of the market and its future perspectives, Electrophysiology Market report presents a clear segmentation based on different parameters. The factors that affect these segments are also discussed in detail in the report.

Following Companies Are Covered by Electrophysiology Market

  • Abbott Laboratories
  • Biotronik SE and Co.KG
  • Boston Scientific Corporation
  • GE Healthcare
  • Johnson and Johnson
  • Medtronic PLC
  • Microport Scientific Corporation
  • Philips Healthcare
  • Siemens AG

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Market Overview:

  • The electrophysiology market is expected to register a CAGR of 6.5% during the forecast period. Certain factors that are driving the growth of the market are increasing the prevalence of target diseases, technological advancements in the field of electrophysiology, and increasing demand for catheter ablation procedures.
  • In Europe and North America, 1-2% of the total healthcare expenditure is attributed to heart failure. In 2016, around 5.5 million people were diagnosed with heart failure in the United States. According to the American Heart Association, this number is expected to increase to 8 million by 2030. Since electrophysiology devices have a major application in detecting heart failure rates, the increasing number of cardiac failures is expected to drive the market over the forecast period.
  • In addition, a rapid increase in the aging population was found to be responsible for increasing heart failure rates, which has further contributed to the growth of the electrophysiology market.
  • However, as of 2017, in the United States, only 6-8% of cardiologists hold specialization in electrophysiology. Despite not being a favorable percentage, the EP workforce is more or less stable in the United States. Due to lack of mobility among the majority of established electrophysiologists, there exists a distinct lag in geographical dispersion of the EPs, which has resulted in a rift between the demand and supply, and a visible disparity among electrophysiologists. Hence, the lack of skilled electrophysiologists is acting as a major restraint for the electrophysiology market.
  • Additionally, unfavorable healthcare reforms, along with lack of proper reimbursement policies, are also responsible for hindering the growth of the market.

Scope of the Report:

  • Electrophysiology is the biomedical field that deals with the study of electric activity in the body. Electrophysiology includes the study of the generation of electrical activity and the effects of that electrical activity on the body. As per the scope of this report, the various types of electrophysiology products and the diseases which they target have been taken into account for the calculation of the total market size.

The Research Document Will Answer Following Questions Such as:

What are the cutting-edge technologies responsible for driving the growth of the market?

What are the main applications of the market? What are the growth prospects to the market applications into the market?

At what stage of development are the key market products?

What are the shortcomings that has to face to become commercially viable? Is their growth and commercialization dependent on cost declines or technological/application breakthroughs?

What is the outlook for the industry?

What difference does performance characteristics of Electrophysiology create from those of established entities?

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Key Market Trends:

Ablation Catheters are Expected to hold the Highest Market Share in the Product Type

Ablation catheters are useful in removing anomalous heart tissues that may result in irregular heartbeats. These devices work on the basis of ablation, which is a minimally invasive procedure that employs catheters to demolish the defective electrical pathways from the heart. Radiofrequency ablation and cryoablation are the most commonly used types of ablation catheters, and both are expected to hold significant market shares, aided by related advancements in the technology. Radiofrequency (RF) ablation uses locally delivered, high-energy RF signals to make the scars. On the other hand, cryoablation uses extremely cold temperatures for making the scars. Sometimes, laser light energy is also used.

North America Dominates the Market and it is Expected to Continue So during the Forecast Period

Currently, North America dominates the market for electrophysiology and the region is expected to continue its stronghold for a few more years. This region is expected to increase its market share in the future, owing to the presence of well-established healthcare facilities and rise in the number of arrhythmia and heart failure cases in the region. Asia-Pacific is also expected to propel the electrophysiology market, owing to factors, such as increasing accessibility to healthcare facilities in the region, rising medical tourism, and increasing incidences of heart failure cases.

Reasons for Buying Electrophysiology Market Report:

This report provides pin-point analysis for changing competitive dynamics

It provides a forward looking perspective on different factors driving or restraining market growth

It provides a five-year forecast assessed on the basis of how the market is predicted to grow

It helps in understanding the key product segments and their future

It provides pin point analysis of changing competition dynamics and keeps you ahead of competitors

It helps in making informed business decisions by having complete insights of market and by making in-depth analysis of market segments

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Detailed TOC of Electrophysiology Market Report 2019-2024:

1 INTRODUCTION
1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study

2 RESEARCH METHODOLOGY

3 EXECUTIVE SUMMARY

4 MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Increasing Prevalence of Target Diseases
4.2.2 Technological Advancements in the Field of Electrophysiology
4.2.3 Increasing Demand for Catheter Ablation Procedures
4.3 Market Restraints
4.3.1 Lack of Skilled Professionals
4.3.2 Unfavorable Healthcare Reforms
4.4 Porter's Five Forces Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry

5 MARKET SEGMENTATION
5.1 Product
5.1.1 Ablation Catheters
5.1.1.1 Cryoablation EP Catheters
5.1.1.2 Radiofrequency Ablation Catheters
5.1.1.3 Microwave Ablation Systems
5.1.1.4 Laser Ablation Systems
5.1.1.5 Other Ablation Catheters
5.1.2 Laboratory Devices
5.1.2.1 EP X-Ray Systems
5.1.2.2 3D Mapping Systems
5.1.2.3 EP Recording Systems
5.1.2.4 EP Remote Steering Systems
5.1.2.5 Other Laboratory Devices
5.1.3 Diagnostic Catheters
5.1.3.1 Conventional EP Diagnostic Catheters
5.1.3.2 Advanced EP Diagnostic Catheters
5.1.3.3 Ultrasound EP Diagnostic Catheters
5.1.4 Access Devices
5.1.5 Other Products
5.2 Target Disease
5.2.1 Atrial Fibrillation
5.2.2 Atrial Flutter
5.2.3 Wolff-Parkinson-White Syndrome
5.2.4 Atrioventricular Nodal Reentry Tachycardia
5.2.5 Other Target Diseases
5.3 Geography
5.3.1 North America
5.3.1.1 US
5.3.1.2 Canada
5.3.1.3 Mexico
5.3.2 Europe
5.3.2.1 Germany
5.3.2.2 UK
5.3.2.3 France
5.3.2.4 Italy
5.3.2.5 Spain
5.3.2.6 Rest of Europe
5.3.3 Asia-Pacific
5.3.3.1 China
5.3.3.2 Japan
5.3.3.3 India
5.3.3.4 Australia
5.3.3.5 South Korea
5.3.3.6 Rest of Asia-Pacific
5.3.4 Middle East and Africa
5.3.4.1 GCC
5.3.4.2 South Africa
5.3.4.3 Rest of Middle East and Africa
5.3.5 South America
5.3.5.1 Brazil
5.3.5.2 Argentina
5.3.5.3 Rest of South America

6 COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 Abbott Laboratories
6.1.2 Biotronik SE and Co.KG
6.1.3 Boston Scientific Corporation
6.1.4 GE Healthcare
6.1.5 Johnson and Johnson
6.1.6 Medtronic PLC
6.1.7 Microport Scientific Corporation
6.1.8 Philips Healthcare
6.1.9 Siemens AG

7 MARKET OPPORTUNITIES AND FUTURE TRENDS

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