Over 45% of Sales in Electrophysiology Market to Be Accounted by Ablation catheters
FMI states in its recent study on the electrophysiology-market that the market will record an impressive CAGR of 12.7% through 2030. Demand for Electrophysiology is anticipated to continue surging due to the rise in the geriatric population. The document also talks about the past records and compares them with the current market trends in order to derive the growth rate of this business domain during the forecast duration
“Manufacturers are focusing on alleviating issues associated with the conventional cardiac ablation catheters, diagnostic catheters, cardiac mapping machine, and access devices. The electrophysiology market has been introduced with next-generation electrophysiology devices, loaded with advanced features that offer elevated safety and precision..” says the FMI analyst.
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Electrophysiology Market – Important Highlights
- During the forecast era, the ablation catheters are anticipated to see a surge in adoption due to their high efficiency in destroying the arrhythmic cardiac tissues.
- The leading share of atrial fibrillation was 48 percent in 2020 and the share is projected to rise further to 52.6 percent in 2030.
- According to FMI, thanks to its sophisticated electrophysiology laboratory services, hospitals hold a large share of the electrophysiology industry.
- North America is expected to remain a prominent regional market for Electrophysiology.
Electrophysiology Market – Drivers
- Favorable government policies and investments in the healthcare sector are anticipated to contribute to the growth of the market.
- Manufacturers are increasing including next-generation and smart technologies, which is boosting the growth of the market
- The rapid increase in cardiac diseases is one of the key drivers of the market.
Electrophysiology Market – Restraints
- Hindrance in the Electrophysiology supply chain due to COVID-19 is causing hindrance in the growth of the market.
- Strict government guidelines about the safety of the devices are creating growth deterrents.
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COVID-19 Impact on Electrophysiology Market
During this time there has been a disruption in the supply and demand chain which has caused an impact on the revenue of Electrophysiology in a negative way. The pandemic triggered unprecedented economic casualties and disrupted many treatments for cardiac and electrophysiology. The pandemic has led to a decrease in the patient’s flow in the hospitals, and doctor chambers. This has caused a reduction in the number of cardio surgeries and that in turn has affected the Electrophysiology market. However, this is estimated to be a temporary effect and the market is expected to have a turnaround with the stabilization of economy.
The Electrophysiology market players are leaning towards the expansion of the production facilities besides opting for strategic collaborations to attain a competitive edge. Several electrophysiology instruments equipped with innovative technology have appeared on the market. For example, Medtronic Plc was found to have an active venture in the acceptance and launch of more than 12 of its patented electrophysiology catheters and other instruments in Indonesia, Uzbekistan, and two catheters in Australia, from 2017 to 2020. Some of the prominent players listed in the global Electrophysiology market analysis include Abbott Laboratories, Johnson & Johnson (Biosense Webster, Inc.), Medtronic Plc, Boston Scientific Corporation, Japan Lifeline, Koninklijke Philips N.V.
About the Study
The study offers readers a comprehensive assessment of the Electrophysiology market. Global, regional, and national-level analysis of the latest trends influencing the market is covered in this FMI report. The study provides insights based on product type (Electrophysiology Laboratory Devices, Electrophysiology Ablation Catheters, Electrophysiology Diagnostic Catheters), indication(Atrial Fibrillation, Atrial Flutter, Wolff-Parkinson-White Syndrome (WPW), Atrioventricular Nodal Reentry Tachycardia (AVNRT)) and across key regions (North America, Latin America, Europe, China, Asia Pacific, Middle East & Africa).
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Table Of Content
1. Executive Summary
1.1. Global Market Outlook
1.2. Demand Side Trends
1.3. Supply Side Trends
1.4. Technology Roadmap
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
2.3. Inclusions and Exclusions
3. Key Market Trends
3.1. Key Trends Impacting the Market
3.2. Product Innovation / Development Trends
4. Market Background
4.1. Macro-Economic Factors
4.2. Forecast Factors – Relevance & Impact
4.3. Market Dynamics
5. COVID19 Crisis Analysis
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