The size of the Europe Electrophysiology Market was valued at USD 1.88 billion in 2022 and is estimated to be growing at a CAGR of 9.43% to reach USD 2.95 billion by 2027.
The Electrophysiology market in the European market is expected to be driven by the proliferation of targeted diseases procedures and Technological advancements in electrophysiology. Also, the growing awareness and the increasing demand for catheter ablation procedures are witnessing significant growth during the forecast period.
Additionally, the growing disease burden and rising electrophysiological procedure demand have resulted from rapidly changing lifestyles and the adoption of unhealthy habits. The other factors, such as the rising demand for catheter ablation procedures and the increasing population, are projected to fuel the market growth.
Increasing investment and funding by the government and private organizations to advance healthcare infrastructure in the region is expected to encourage market growth positively. Furthermore, the growing demand for cardiac rhythm management devices for continuous monitoring, as well as increased usage of these devices in out-of-hospital settings, are some of the market's high-impact key growth factors. Further, Emerging markets such as UK, Germany, and France are also expected to offer high growth opportunities for players operating in this market.
Besides, the rising incidence of cardiovascular diseases is projected to boost the market over the forecast period since electrophysiological devices have essential applications in identifying heart failure rates. According to the European Society of Cardiology data, more than 6 million cardiovascular illnesses (CVDs) were identified in the European Union, with almost 11 million CVD cases reported in the whole of Europe. CVDs are also responsible for about 3.9 million deaths in Europe every year. Furthermore, the market is being driven by major companies' increased focus on innovative EP technologies (such as 3D mapping systems, bidirectional duodecapolar diagnostic catheters, remote steering systems, and irrigated-tip RF catheters) and the development of EP labs.
However, there is a significant lag in the geographical dispersion of EPs due to a lack of movement among the bulk of established electrophysiologists, resulting in a split between demand and supply and an apparent discrepancy among electrophysiologists. As a result, a scarcity of qualified electrophysiologists is limiting the growth of the European electrophysiology market.
This research report has been segmented and sub-segmented the European Electrophysiology Market into the following categories:
By Product:
By Indication:
By Country:
Regionally, with about 900 catheter ablations per million people, Germany is one of the most active countries and is expected to register healthy CAGR during the forecast period. Furthermore, the risk of rhythm problems among COVID-19 patients will influence market growth to some extent. Furthermore, growing healthcare spending, along with the country's large elderly population, will drive the electrophysiology market in Germany to greater levels in the next few years. The market has grown even faster because of the high incidence rate of AF, the constantly aging population, and the expanding number of EP labs in Europe. In addition, the atrioventricular nodal re-entry tachycardia (AVNRT) indication is expected to develop the most.
KEY MARKET PLAYERS:
Key players operating in the Europe Electrophysiology Market profiled in this report are 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).
1. Introduction
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
2.1 Introduction
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. Overview
3.1 Executive Summary
3.2 Key Inferences
3.3 Epidemology
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 Product
5.1.1 Electrophysiology Diagnostic Catheters
5.1.1.1 into Advanced Electrophysiology Diagnostic Catheters
5.1.1.2 Conventional Electrophysiology Diagnostic Catheters
5.1.1.3 Ultrasound Electrophysiology Diagnostic Catheters
5.1.2 Electrophysiology Ablation Catheters
5.1.2.1 Radiofrequency (RF) Ablation Catheters
5.1.2.2 Cryoablation Electrophysiology Catheters
5.1.2.3 Laser Ablation Systems
5.1.2.4 Microwave Ablation Systems
5.1.2.5 Navigational Advanced Mapping Accessories
5.1.3 Electrophysiology Laboratory Devices
5.1.3.1 Electrophysiology Recording Systems
5.1.3.2 3D Mapping Systems
5.1.3.3 Radiofrequency (RF) Ablation Generators
5.1.3.4 Electrophysiology X-Ray Systems
5.1.3.5 Intracardiac Echocardiography (ICE) Systems
5.1.3.6 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 Indication
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 Introduction
6.1.1 Regional Trends
6.1.2 Impact Analysis
6.1.3 Y-o-Y Growth Analysis
6.1.3.1 By Product
6.1.3.2 By Indication
6.1.4 Market Attractiveness Analysis
6.1.4.1 By Product
6.1.4.2 By Indication
6.1.5 Market Share Analysis
6.1.5.1 By Product
6.1.5.2 By Indication
6.2 U.K
6.3 Spain
6.4 Germany
6.5 Italy
6.6 France
7. Strategic Analysis
7.1 PESTLE analysis
7.1.1 Political
7.1.2 Economic
7.1.3 Social
7.1.4 Technological
7.1.5 Legal
7.1.6 Environmental
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
8.1.1 Overview
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
Appendix
a) List of Tables
b) List of Figures
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