The size of the Electrophysiology Market in the Middle East and Africa is valued at USD 568.67 million in 2022. It is estimated to be growing at a CAGR of 9.36% to reach USD 889.52 million by 2027.
The MEA electrophysiology Market is majorly driven by the growing aging population, technological developments, and increased healthcare and advanced functionality funding. Besides, the aging of the population is increasing rapidly, with increased risk of target diseases, cardiovascular diseases in the region are on the rise, and developing economies are also driving the market growth. Technological advancements in electrophysiology will be an essential factor influencing the development of the electrophysiology industry. The use of various advanced mapping and guidance systems that aid in better heart rate monitoring will increase electrophysiology devices' adoption in the years to come. Older people tend to suffer from various heart conditions, which can be life-threatening, and therefore effective diagnosis through proper diagnostic aid such as electrophysiology is required. Besides, the emergence of numerous electrophysiology clinics and catalysis laboratories across the country will increase the MEA Electrophysiology Market in the coming years.
The lack of trained and experienced electrophysiologists is hampering the growth of the market. Additionally, factors such as increasing price pressure on market players, more frequent product recall, and healthcare reforms impeded the development of the MEA Electrophysiology market. The elevated unit cost of these devices and the shortage of reimbursement have led to their reprocessing and reuse, mainly in hospitals with budget constraints. A hospital / surgical center's price for reprocessing and using again is less than 12% of the cost of a new ablation device, reducing the procedure's total cost by approximately 40%.
This research report on the MEA Electrophysiology Market has been segmented and sub-segmented into the following categories:
Factors such as the rising geriatric population and advancements in technology are expected to propel the region's market growth.
The leading companies leading in the MEA Electrophysiology Market profiled in the 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).
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