Global Electrophysiology Devices And Equipment Market 2022 – Market Opportunities And Strategies
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The electrophysiology devices and equipment market is forecasted to achieve significant growth in the coming few years with a forecast CAGR (compound annual growth rate) of more than 8%, as per The Business Research Company’s market report!
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The Electrophysiology Devices And Equipment Market Size In 2022 And Forecast
The global electrophysiology devices and equipment market grew from $4.8 billion in 2021 to $5.41 billion in 2022 at a compound annual growth rate (CAGR) of 12.8%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, effecting many markets across the globe. The electrophysiology devices and equipment market is expected to grow to $7.44 billion in 2026 at a CAGR of 8.3%.
The electrophysiology devices and equipment market consist of sales of electrophysiology devices and equipment and related services.
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Increase In The Prevalence Rate Of Cardiovascular Diseases Is Driving The Growth Of The Electrophysiology Devices And Equipment Market
According to the data released by American Heart Association (AHA) in 2019, at least 48% of all adults in the USA have some form of cardiovascular disease. CVD prevalence excluding high blood pressure among adults in the USA is 9%. Also, according to the Centers for Disease Control and Prevention (CDC), by 2030, 12.1 million people in the United States will suffer from atrial fibrillation, which is the most common type of heart arrhythmia.
Competitive Landscape And The Regional Analysis Of The Electrophysiology Devices And Equipment Market
Major players in the electrophysiology devices and equipment market are St. Jude Medical, Boston Scientific Corporation, Abbott Laboratories, GE Healthcare, Philips Healthcare, Biotronik SE & Co. KG, Medtronic Inc., Biosense Webster, Microport Scientific Corporation, and Japan Lifeline Co.
Additionally, as per TBRC’s research – North America was the largest region in the electrophysiology devices and equipment market in 2021 holding the largest market share.
The Electrophysiology Devices And Equipment Global Market Report 2022 covers regional data on key drivers, opportunities, and strategies for the seven major regions of the world that are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The countries covered in the electrophysiology devices and equipment market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA. The report includes market size and forecast market shares for all the regions and countries with respect to the major players of the electrophysiology devices and equipment market.
Improving EP Mapping And Localization Technology – A Key Trend In The Electrophysiology Devices And Equipment Market
To increase the profit margins and sales, the companies operating in the Electrophysiology (EP) devices and equipment industry are coming up with new technologies aimed towards improving EP mapping and localization technology. EP mapping is a procedure used to diagnose the origins of abnormal heart rhythms. This procedure uses an electrically sensitive catheter. With improved mapping technologies it becomes easy to detect and locate abnormalities in the heart.
Electrophysiology Devices And Equipment Market Segmentation By The Business Research Company
1) By Product Type: Electrophysiology Ablation Catheters, Electrophysiology Diagnostic Catheters, Electrophysiology Lab Systems
2) By Monitoring Device Type: Electrocardiograph (ECG), Electroencephalograph (EEG), Electrocorticograph (ECoG), Electromyograph (EMG), Electroretinograph (ERG), Electrooculograph (EOG), Holter Monitoring Devices, X-Ray Systems, Imaging and 3D Mapping Systems, Diagnostic Electrophysiology Catheters
3) By Indication Analysis: Atrioventricular Nodal Reentry Tachycardia (AVNRT), Wolff-Parkinson-White Syndrome (WPW), Atrial Flutter, Atrial Fibrillation
4) By End-Users: Hospitals, Diagnostic centers, Clinics
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