The size of the Global Electrophysiology Market is valued at USD 7.49 billion in 2019 and estimated to be growing at a CAGR of 9.79%, to reach USD 11.95 billion by 2024 during the forecast period 2019-2024.
What is Electrophysiology?
Electrophysiology can be defined as the study of electrical properties in biological tissues and cells. It measures changes in electrical currents and voltages across systems varying from single ion protein channels to complete organs like the heart. In this field, the modalities which are most commonly used are electrocardiography which involves measuring the electrical activity of the brain and electromyography which measures the electrical activity in the skeletal muscles. Other modalities in which this science is used are intracardiac electrogram, electroretinography, electrooculography, electronystagmography, electrocorticography and electrogastrography among others.
The driving factors of the market are rising geriatric population, development of technologically advanced electrophysiology instruments, rising incidence of arrhythmia across the planet and rising demand for catheter ablation procedures among others.
However, the market is constrained by factors such as dearth of skilled electrophysiologists and unfavorable healthcare reforms in some countries.
The increasing prevalence of cardiac arrhythmias in patients worldwide will provide remunerative opportunities for the growth of the global market. Atrial fibrillation is a form of arrhythmia which is commonly diagnosed as a form of abnormal cardiac rhythm. Electrophysiology helps patients detect and treat arrhythmias of the heart. It is also expected that the introduction of new and innovative technologies such as cryoablation, laser ablation, ultrasound ablation, and advanced mapping would fuel the demand of the Electrophysiology market over the forecast period.
Market Size Available
2018 – 2024
2019 – 2024
By Product, Indication, and Region
North America (United States and Canada), Europe (UK, Spain, Germany, Italy, France and Rest of Europe), Asia Pacific (China, India, Japan, South Korea, Australia, New Zealand, Rest of APAC), Latin America (Brazil, Argentina, Mexico and Rest of Latin America), Middle East and Africa
Boston Scientific Corporation (U.S.), GE Healthcare (U.K.), Abbott Laboratories (U.S.), Biosense Webster, Inc. (U.S.), Microport Scientific Corporation (China), St. Jude Medical, Inc. (U.S.), BIOTRONIK SE & Co. KG (Germany), Koninklijke Philips N.V. (The Netherlands), Medtronic, Inc. (U.S.) and Siemens AG (Germany)
This research report on the Global Electrophysiology Market has been segmented and sub-segmented into the following categories and analyzed market size and forecast for each segment until 2024.
Electrophysiology Market – By Product:
On the basis of the product, the Electrophysiology Ablation Catheters segment is anticipated to account for the largest share of the market in the product type. Ablation catheters are effective in eliminating anomalous tissues of the heart that can result in irregular heartbeats. Such machines work on the basis of ablation, a minimally invasive technique that uses catheters to destroy the heart's damaged electrical pathways.
Electrophysiology Market – By Indication:
On the basis of indication, the segment of Atrial Fibrillation has been leading the market and is expected to show the highest revenue growth during the forecast period as Atrial fibrillation monitoring requires enhanced diagnostic technology to help overcome the limitations imposed by conventional technologies.
North America dominates the electrophysiology market and it is anticipated that the region will maintain its stronghold for a few more years. Due to the existence of well-established health care facilities and the rising cases of arrhythmia, strokes, and heart failure, this region is expected to increase its market share in the future.
The next in the lead is the Asia Pacific followed by Europe. In terms of unmet medical needs and rapidly increasing targeted disease occurrence levels, the Asia Pacific Electrophysiology market has a large presence of untapped opportunities. It is expected that improving healthcare infrastructure, increasing patient awareness, and increasing regional healthcare expenditure will help the market to grow in the region.
Few of the companies dominating the Global Electrophysiology Market profiled in this report are:
1.1 Market Definition
1.2 Study Deliverables
1.3 Base Currency, Base Year and Forecast Periods
1.4 General Study Assumptions
2. Research Methodology
2.2 Research Phases
2.2.1 Secondary Research
2.2.2 Primary Research
2.2.3 Econometric Modelling
2.2.4 Expert Validation
2.3 Analysis Design
2.4 Study Timeline
3.1 Executive Summary
3.2 Key Inferences
4. Drivers, Restraints, Opportunities, and Challenges Analysis (DROC)
4.1 Market Drivers
4.2 Market Restraints
4.3 Key Challenges
4.4 Current Opportunities in the Market
5. Market Segmentation
5.1.1 Electrophysiology Diagnostic Catheters
188.8.131.52 into Advanced Electrophysiology Diagnostic Catheters
184.108.40.206 Conventional Electrophysiology Diagnostic Catheters
220.127.116.11 Ultrasound Electrophysiology Diagnostic Catheters
5.1.2 Electrophysiology Ablation Catheters
18.104.22.168 Radiofrequency (RF) Ablation Catheters
22.214.171.124 Cryoablation Electrophysiology Catheters
126.96.36.199 Laser Ablation Systems
188.8.131.52 Microwave Ablation Systems
184.108.40.206 Navigational Advanced Mapping Accessories
5.1.3 Electrophysiology Laboratory Devices
220.127.116.11 Electrophysiology Recording Systems
18.104.22.168 3D Mapping Systems
22.214.171.124 Radiofrequency (RF) Ablation Generators
126.96.36.199 Electrophysiology X-Ray Systems
188.8.131.52 Intracardiac Echocardiography (ICE) Systems
184.108.40.206 Electrophysiology Remote Steering Systems
5.1.4 Access Devices
5.1.5 Y-o-Y Growth Analysis, By Product
5.1.6 Market Attractiveness Analysis, By Product
5.1.7 Market Share Analysis, By Product
5.2.1 Atrial Flutter
5.2.2 Atrial Fibrillation
5.2.3 Wolff-Parkinson-White Syndrome
5.2.4 Atrioventricular Nodal Re-entry Tachycardia
5.2.5 Other Indications
5.2.6 Y-o-Y Growth Analysis, By Indication
5.2.7 Market Attractiveness Analysis, By Indication
5.2.8 Market Share Analysis, By Indication
6. Geographical Analysis
6.1.1 Regional Trends
6.1.2 Impact Analysis
6.1.3 Y-o-Y Growth Analysis
220.127.116.11 By Product
18.104.22.168 By Indication
6.1.4 Market Attractiveness Analysis
22.214.171.124 By Product
126.96.36.199 By Indication
6.1.5 Market Share Analysis
188.8.131.52 By Product
184.108.40.206 By Indication
6.2 North America
6.1.2 United States
6.3.6 South Korea
6.5 Latin America
6.4.5 Rest of Latin America
6.6 Middle East & Africa
7. Strategic Analysis
7.1 PESTLE analysis
7.2 Porter’s Five analysis
7.2.1 Bargaining Power of Suppliers
7.2.2 Bargaining Power of Consumers
7.2.3 Threat of New Entrants
7.2.4 Threat of Substitute Products and Services
7.2.5 Competitive Rivalry within the Industry
8. Market Leaders' Analysis
8.1 Boston Scientific Corporation
8.1.2 Product Analysis
8.1.3 Financial analysis
8.1.4 Recent Developments
8.1.5 SWOT analysis
8.1.6 Analyst View
8.2 GE Healthcare
8.3 Abbott Laboratories
8.4 Biosense Webster, Inc.
8.5 Microport Scientific Corporation
8.6 St. Jude Medical, Inc.
8.7 BIOTRONIK SE & Co. KG
8.8 Koninklijke Philips N.V.
8.9 Medtronic, Inc.
8.10 Siemens AG
9. Competitive Landscape
9.1 Market share analysis
9.2 Merger and Acquisition Analysis
9.3 Agreements, collaborations and Joint Ventures
9.4 New Product Launches
10. Market Outlook and Investment Opportunities
a) List of Tables
b) List of Figures