Electrophysiology Catheter Market is expected to reach US$ 7,288.50 Million by 2028

Electrophysiology Diagnostic Catheters Segment to Lead Electrophysiology Catheter Market during 2021–2028

According to our new research study on "Electrophysiology Catheter Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Product Type, Application, End User, and Geography," the market is expected to reach US$ 7,288.50 million by 2028 from US$ 4,133.18 million in 2021; it is expected to grow at a CAGR of 8.4% from 2021 to 2028. The report highlights trends prevailing in the market and factors driving its growth. The market growth is mainly attributed to high prevalence of cardiovascular disorders and technological advancement fuels global electrophysiology catheters market. However, high cost of electrophysiology catheters are likely to hamper the market's growth in the coming years.

Based on product type, the electrophysiology catheter market is segmented into electrophysiology diagnostic catheters and electrophysiology ablation catheters. The electrophysiology diagnostic catheters segment held the largest share of the market in 2021, and the same segment is anticipated to register the highest CAGR in the market during the forecast period. Electrophysiology diagnostic catheters are intended for temporary intra-cardiac sensing, recording, stimulation, and mapping. These catheters are almost always used in conjunction with cardiac ablation procedures and can be utilized during procedures not involving ablation such as pacemaker, ICD, or CRT device implantation. The number of diagnostic electrophysiology catheters have drastically increased due to the approval of new, minimally invasive treatments for atrial fibrillation and includes fixed curve and steerable curve diagnostic catheters.

Impact of COVID-19 Pandemic on electrophysiology catheter market:

The COVID-19 pandemic is adversely affecting industries worldwide. The outbreak led to significant disruptions in primary industries, such as manufacturing, healthcare, and construction, in 2020. In response to the need to control the spread of the COVID-19 infection among people, hospitals discontinued several services, including most of the electrophysiology procedures were reduced to accommodate the healthcare demands of the pandemic, and operations were redirected toward the management of the disease. Moreover, hospitals and healthcare providers have to reassign their specialist doctors to various tasks in ICUs and other COVID-19-related wards. Furthermore, the limited access to clinics, social distancing resulted in a slow-down in patient flow and referrals that caused a decline in electrophysiology procedures that affected the growth of the electrophysiology catheter market.

St. Jude Medical (Abbott), Boston Scientific Corporation, Stryker Corporation, Medtronic, Transonic Systems Inc., CathRx Ltd, APT MEDICAL INC., MicroPort Scientific Corporation, Biosense Webster (Johnson and Johnson Services, Inc.), and Biotronik, Inc. are among the leading companies in the electrophysiology catheter market.

Electrophysiology Catheter Market, by Region, 2021 (%)

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Electrophysiology Catheter Market Size, Growth Report by 2028

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Electrophysiology Catheter Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Product Type (Electrophysiology Diagnostic Catheters, and Electrophysiology Ablation Catheters); Application (Diagnosis and Monitoring, Treatment of Cardiac Arrhythmias, and Imaging and Mapping); End User (Hospitals, Ambulatory Surgical Centers, and Cardiac Catheterization Labs)

The report segments the electrophysiology catheter market as follows: