Electrophysiology Catheter Market Size, Growth Report by 2028
The electrophysiology catheter market is expected to reach US$ 7,288.50 million by 2028 from US$ 4,133.18 million in 2021. The market is estimated to grow at a CAGR of 8.4% from 2021 to 2028.
The scope of the electrophysiology catheter market includes product type, application, end user and geography. Based on region, the electrophysiology catheter market is segmented into North America, Europe, Asia Pacific, Middle East & Africa, and South and Central America. The report offers insights and in-depth analysis of the electrophysiology catheter market, emphasizing various parameters such as market trends and opportunities, market dynamics, and competitive landscape analysis of leading market players across North America, Europe, Asia Pacific, Middle East & Africa, and South and Central America. It also includes COVID–19 impact analysis across the regions.
Customize Research To Suit Your Requirement
We can optimize and tailor the analysis and scope which is unmet through our standard offerings. This flexibility will help you gain the exact information needed for your business planning and decision making.
Electrophysiology Catheter Market: Strategic Insights
Electrophysiology Catheter Market
-
CAGR (2021 - 2028)
8.4%
-
Market Size 2021
US$ 4.13 Billion
-
Market Size 2028
US$ 7.29 Billion
Market Dynamics
GROWTH DRIVERS
- XXXXXXX
- XXXXXXX
- XXXXXXX
FUTURE TRENDS
- XXXXXXX
- XXXXXXX
- XXXXXXX
OPPORTUNITIES
- XXXXXXX
- XXXXXXX
- XXXXXXX
Key Players
- 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
Regional Overview
- North America
- Europe
- Asia-Pacific
- South and Central America
- Middle East and Africa
Market Segmentation
Product Type
- Electrophysiology Diagnostic Catheters
- Electrophysiology Ablation Catheters
Application
- Diagnosis and Monitoring
- Treatment of Cardiac Arrhythmias
- Imaging and Mapping
End User
- Hospitals
- Ambulatory Surgical Centers
- Cardiac Catheterization Labs
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
Customize Research To Suit Your Requirement
We can optimize and tailor the analysis and scope which is unmet through our standard offerings. This flexibility will help you gain the exact information needed for your business planning and decision making.
Electrophysiology Catheter Market: Strategic Insights
-
CAGR (2021 - 2028)8.4% -
Market Size 2021
US$ 4.13 Billion -
Market Size 2028
US$ 7.29 Billion
Market Dynamics
- XXXXXXX
- XXXXXXX
- XXXXXXX
- XXXXXXX
- XXXXXXX
- XXXXXXX
- XXXXXXX
- XXXXXXX
- XXXXXXX
Key Players
- 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
Regional Overview
- North America
- Europe
- Asia-Pacific
- South and Central America
- Middle East and Africa
Market Segmentation
- Electrophysiology Diagnostic Catheters
- Electrophysiology Ablation Catheters
- Diagnosis and Monitoring
- Treatment of Cardiac Arrhythmias
- Imaging and Mapping
- Hospitals
- Ambulatory Surgical Centers
- Cardiac Catheterization Labs
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
Market Insights
Technological Advancement Fuels Global Electrophysiology Catheters Market
Persistent improvement in medical science and continuous technological advancements resulted in extending longevity and improved quality of life. Developments, such as introducing three-dimensional (3D) EAM systems, have a long-lasting influence on catheter visualization, arrhythmia mapping, and reducing and eliminating fluoroscopy/radiation exposure in cardiac electrophysiology. The Frontiers S.A. report states that in addition to the continuous improvement in existing mapping systems, the global market is significantly driven by the launch of several new tools over the last few years. For example, Philips recently launched a new, non-fluoroscopic, dielectric-based imaging and navigation system, called KODEX-EPD. The system generates high-resolution 3D cardiac anatomical images without the need for direct catheter-tissue contact or pre-acquired imaging. Also, it holds high potential representing an open platform allowing high-quality procedures by reducing cost and burden on the patient. The company's design goal for electrophysiology catheters is to incorporate features that improve outcomes for patients and clinicians by reducing costs for healthcare providers. Moreover, in September 2020, Acutus Medical announced receiving FDA 510 (k) clearance for its second generation AcQMap 3D imaging and mapping catheter. This new product is the world's only integrated high-resolution ultrasound-based imaging and non-contact mapping catheter capable of capturing cardiac imaging information leading to an upward thrust in the market's growth.
Product Type-Based Insights
Based on product type, the electrophysiology catheter market is segmented into electrophysiology diagnostic catheters and electrophysiology ablation catheters. The electrophysiology diagnostic catheters are sub-segmented as conventional electrophysiology diagnostic catheters, advanced electrophysiology diagnostic catheters, and ultrasound electrophysiology diagnostic catheters. Further, electrophysiology ablation catheters are sub-segmented as cryoablation electrophysiology catheters, radiofrequency ablation catheters, microwave ablation systems, and laser ablation systems. 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 of 8.8% in the market during the forecast period.
Application-Based Insights
Based on application, the electrophysiology catheter market is segmented into diagnosis and monitoring, treatment of cardiac arrhythmias, and imaging and mapping. The diagnosis and monitoring segment held the largest share of the market in 2021, and the same segment is anticipated to register the highest CAGR of 9.0% in the market during the forecast period.
End User -Based Insights
Based on end user, the electrophysiology catheter market is segmented into hospitals, ambulatory surgical centers, and cardiac catheterization labs. The hospitals segment held the largest share of the market in 2021, and the same segment is anticipated to register the highest CAGR of 8.7% in the market during the forecast period.
Companies commonly adopt inorganic strategies such as mergers and acquisitions to cater to changing customer demand and maintain their brand name worldwide. Market players operating in the electrophysiology catheter market also adopt organic strategies such as product launch and expansion to outstretch their footprint and product portfolio worldwide and meet the growing demand.
Electrophysiology Catheter Market Report Scope
Report Attribute | Details |
---|---|
Market size in 2021 | US$ 4.13 Billion |
Market Size by 2028 | US$ 7.29 Billion |
Global CAGR (2021 - 2028) | 8.4% |
Historical Data | 2019-2020 |
Forecast period | 2022-2028 |
Segments Covered |
By Product Type
|
Regions and Countries Covered | North America
|
Market leaders and key company profiles |
|
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
By Product Type
- Electrophysiology Diagnostic Catheters
- Conventional Electrophysiology Diagnostic Catheters
- Advanced Electrophysiology Diagnostic Catheters
- Ultrasound Electrophysiology Diagnostic Catheters
- Electrophysiology Ablation Catheters
- Cryoablation Electrophysiology Catheters
- Radiofrequency Ablation Catheters
- Microwave Ablation Systems
- Laser Ablation Systems
By Application
- Diagnosis and Monitoring
- Treatment of Cardiac Arrhythmias
- Imaging and Mapping
By End User
- Hospitals
- Ambulatory Surgical Centers
- Cardiac Catheterization Labs
By Geography
- North America
- US
- Canada
- Mexico
- Europe
- UK
- Germany
- France
- Italy
- Spain
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Australia
- South Korea
- Rest of Asia Pacific
- Middle East & Africa
- Saudi Arabia
- South Africa
- UAE
- Rest of Middle East & Africa
- South and Central America
- Brazil
- Argentina
- Rest of South and Central America
Company Profiles
- 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.)
- Biotronik, Inc.
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Product Type; Application; End User
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Saudi Arabia, South Africa, South Korea, Spain, United Arab Emirates, United Kingdom, United States
Frequently Asked Questions
With COVID-19 continuing to spread all over the world, researchers are looking into numerous options for possible treatment, including existing options. The pandemic of COVID-19 has had a significant impact on clinical medicine. Because so many resources have been poured into caring for those afflicted with the virus, elective medical treatments have reduced. The rates of atrial fibrillation ablation and implanted cardioverter-defibrillators (ICD) implantation fell faster than the rates of ventricular tachycardia (VT) ablation and device generator changes, indicating a shift away from elective medical operations. Telemedicine and digital health platforms proved effective during the pandemic as it was largely limited pre-pandemic due to technical and reimbursement barriers. But in the current COVID-19 crisis, the adoption of virtual medical services has grown tremendously and is projected to grow steadily in the coming years. For example, The Centers for Medicare and Medicaid Services have expanded telehealth services to keep people safe and assist healthcare providers to focus on individuals requiring the most dire healthcare needs.
Global electrophysiology catheters market is segmented by region into North America, Europe, Asia Pacific, Middle East & Africa and South & Central America. In North America, the U.S. is the largest market for electrophysiology catheters. The growth of this market is primarily driven by the increasing prevalence of cardiovascular disorders and growing number of product launches by key players. The presence of well-established healthcare facilities coupled with infrastructure and high prevalence of arrhythmia and heart failure cases accounts for significant revenue till the forecast period. Heart disease is the leading cause of death in the US, resulting in recording approx. 647,000 deaths per year as per the Centers for Disease Control and Prevention (CDC).
Johnson and Johnson Services, Inc. and Abbott are the top two companies that hold huge market shares in the electrophysiology catheters market.
The electrophysiology catheters market majorly consists of the players such 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. among others.
The electrophysiology diagnostic catheters segment held the largest share of the market in the global electrophysiology catheters market and held the largest market share of 60.36% in 2021.
The diagnosis segment dominated the global electrophysiology catheters market and accounted for the largest market share of 50.24% in 2021.
The hospitals segment dominated the global electrophysiology catheters market and held the largest market share of 60.55% in 2021.
Electrophysiology catheters are designed to be used for better compatibility to perform standard electrophysiology studies. The catheter comprises of compatible stimulators/amplifiers that are purchased separately by the operator. Depending on the features of the simulator/amplifier, pacing, and recording protocols can be performed inside the human's body to determine abnormalities. For example, electrophysiology catheters are performed inside the heart (intracardiac) or through the esophagus (transesophageal) for determining electrical properties of the atrium and ventricle. Diagnostic electrophysiology (EP) catheters are used for temporary intra-cardiac sensing, recording, stimulation, and mapping.
Key factors that are driving the growth of this market are prevalence of cardiovascular disorders and technological advancement in electrophysiology catheters are expected to boost the market growth for the electrophysiology catheters over the years.
The CAGR value of the electrophysiology catheters market during the forecasted period of 2021-2028 is 8.4%.
The List of Companies - Electrophysiology Catheters 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.)
- Biotronik, Inc.