Comprehensive Electrophysiology (EP) Devices Market Analysis: Size, Share, Trends, and CAGR 12% Forecast for 2025-2030
The Electrophysiology (EP) Devicess Market is projected to grow at a CAGR of around 12% during the forecast period, i.e., 2025-30. This detailed analysis offers valuable insights into the key growth drivers, geographical dynamics, and emerging trends that are poised to shape the market's trajectory in the coming years.
This growth is attributed to increasing cardiovascular diseases such as cardiac arrhythmias resulting from changes in the lifestyle of humans globally coupled with increased alcohol and tobacco consumption and unhealthy food intake. Additionally, with the rising elderly population, heart-related diseases around the world are drastically elevating and there is a decrease in fertility rate too. As per the World Bank, the fertility rate was at 2.26 in 2022, resulting in an increase in the number of elderly humans around the world.
In addition, stroke cases are increasing worldwide. According to the review of the WHO, from 1990 and 2019, the number of cases of stroke in the world has escalated to 70%, stroke deaths have increased to 43%, and also doubled cases to the prevalence of stroke during the same period. The cases of strokes and the increasing prevalence will cause a rise in the demand for electrophysiology devices worldwide.
The pandemic has boosted the expenditure for global healthcare spending. Nations in the world have been investing to strengthen their health capabilities, and hence, the number of healthcare facilities is also going up. For instance, North America, which holds the top position in the Global Electrophysiology (EP) Devices Market, has experienced an increase in its healthcare spending. The USA is the main market in that region, whose spending is reported to be at around USD 4.1 trillion in the year 2020, and this has increased consecutively since then. Such developments in scenarios will support the growth of the market throughout the forecast period.
Exploring the Market Dynamics: What’s Driving the Growth of Electrophysiology (EP) Devices Market?
Rising Cases of Cardiovascular Diseases (CVD) – Globally, the majority of deaths are caused by chronic diseases. CVD is at the top of them, as these collectively account for more than 30% of all deaths worldwide. The WHO has said that the deaths attributed to CVD have moved up from approximately 12.1 million in 1990 to around 70% and have reached 20.5 million in 2021, reveals the World Heart Foundation. This is primarily because the population is on the rise worldwide. The reduced birth rate around the world, which means a growing older population, will push the incidence of CVD up further.
The rising number of cases of CVD will propel the growth of medication and rehabilitation that comes along with it. However, optimal usage of drugs, timely check-ups, and monitoring for CVD are of utmost importance for its effective treatment. Thus this shall boost demand for electrophysiology devices in the market.
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Key Takeaways from the Market Study:
· Historical Data: 2020-23
· Base Year: 2024
· Forecast Period: 2025-30
· CAGR (2025-2030): 12%
· Key Players to Watch: Abbott Laboratories, Acutus Medical, Siemens, Nihon Kohden Corporation, Biosense Webster, Boston Scientific Corporation, GE Healthcare, Medtronic, Philips, Biotronik, Microport Scientific Corporation, AliveCor, Bittium Corporation, Stereotaxis, Japan Lifeline, and Others are expected to play a pivotal role in driving market growth through strategic investments, partnerships, and innovation.
Latest News in the Electrophysiology (EP) Devices Industry:
- November 2024: Boston Scientific Corporation is in its M&A process with the Cortex, which possesses the diagnostic mapping technology to detect atrial fibrillation (AFib) outside the pulmonary veins.
- September 2024: Abbott has announced that it has partnered with iCardio.ai to develop an AI application for its Electrophysiology Imaging technology.
Market Segmentation of Electrophysiology (EP) Devices Industry
The Electrophysiology (EP) Devices market is segmented as follows:
- By Device Type
- Electrophysiology Ablation Catheters
- Cryoablation Electrophysiology Catheters – Market Size & Forecast 2020-2030, USD Million
- Radiofrequency Ablation Catheters – Market Size & Forecast 2020-2030, USD Million
- Irrigated-Tip Radiofrequency Ablation Catheters – Market Size & Forecast 2020-2030, USD Million
- Conventional Radiofrequency Ablation Catheters – Market Size & Forecast 2020-2030, USD Million
- Laser Ablation Systems – Market Size & Forecast 2020-2030, USD Million
- Microwave Ablation Systems – Market Size & Forecast 2020-2030, USD Million
- Navigational Advanced Mapping Accessories – Market Size & Forecast 2020-2030, USD Million
- Electrophysiology Diagnostic Catheters
- Conventional Electrophysiology Diagnostic Catheters
- Steerable Diagnostic Catheters – Market Size & Forecast 2020-2030, USD Million
- Fixed Diagnostic Catheters – Market Size & Forecast 2020-2030, USD Million
- Advanced Electrophysiology Diagnostic Catheters – Market Size & Forecast 2020-2030, USD Million
- Ultrasound Electrophysiology Diagnostic Catheters – Market Size & Forecast 2020-2030, USD Million
- Electrophysiology Laboratory Devices – Market Size & Forecast 2020-2030, USD Million
- Access Devices – Market Size & Forecast 2020-2030, USD Million
- Others – Market Size & Forecast 2020-2030, USD Million
- By Modality
- Implantable – Market Size & Forecast 2020-2030, USD Million
- External – Market Size & Forecast 2020-2030, USD Million
- By Indication
- Atrial Fibrillation (AF) – Market Size & Forecast 2020-2030, USD Million
- Atrial Flutter – Market Size & Forecast 2020-2030, USD Million
- Atrial Tachycardia – Market Size & Forecast 2020-2030, USD Million
- Wolff-Parkinson-White Syndrome (WPW) – Market Size & Forecast 2020-2030, USD Million
- Atrioventricular Nodal Reentry Tachycardia (AVNRT) – Market Size & Forecast 2020-2030, USD Million
- Others – Market Size & Forecast 2020-2030, USD Million
- By End User
- Hospitals – Market Size & Forecast 2020-2030, USD Million
- Diagnostic Centers – Market Size & Forecast 2020-2030, USD Million
- Clinics – Market Size & Forecast 2020-2030, USD Million
- Ambulatory Surgical Centers – Market Size & Forecast 2020-2030, USD Million
- Others – Market Size & Forecast 2020-2030, USD Million
According to report, the rechargeable segment holds a larger share of the Global Electrophysiology (EP) Devices Market mainly due to their lower costs.
According to reports, offline retail holds the largest market share.
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Electrophysiology (EP) Devices Market Geographical Analysis
North America
South America
Europe
The Middle East & Africa
Asia-Pacific
According to reports, North America holds a prominent share of the Electrophysiology (EP) Devices Market
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