The Europe Electrophysiology Market would witness market growth of 8.4% CAGR during the forecast period (2022-2028).
Rising cases of arrhythmia is causing the increase in the demand for electrophysiology devices. In addition, the growing senior population, which is more sensitive to such medical conditions, is boosting the market growth. The growing knowledge of the advantages of EP devices, which have lower dangers & higher success rates than previously utilized devices, has given the market a good outlook. In addition, breakthrough technologies like cryo, laser, & ultrasound ablation, as well as sophisticated mapping systems, are fueling market expansion. Compact and portable varieties are being developed by product makers for patients suffering from hypertension, diabetes, and other medical conditions. Other reasons, such as the growing need for EP devices for continuous monitoring, diagnosis, and treatment of CVDs in both home and hospital settings, as well as considerable advancements in healthcare infrastructure, are likely to fuel the market even more.
As per 2019 figures from the European Society of Cardiology, over 6 million instances of cardiovascular diseases (CVDs) were diagnosed in the European Union, with approximately 11 million CVD cases reported in entire Europe. CVDs are also responsible for roughly 3.9 million deaths in Europe each year. The increasing incidence of cardiovascular disorders is likely to boost the market throughout the forecast period since electrophysiological devices have substantial applications in identifying heart failure rates.
Cryoablation for persistent Atrial Fibrillation was found to be secure, effective, & time-saving, with improved health outcomes in long-term follow-up, according to a study published in Europace in 2020. Additionally, the presence of key players in European countries, as well as the rising trend of product approvals, are projected to propel the studied segment's expansion in the region. For example, Adagio Medical's intelligent Continuous Lesion Ablation System (iCLAS) got a CE mark in June 2020 for use in the endocardial treatment of paroxysmal and chronic atrial fibrillation and atrial flutter. Likewise, CardioFocus Inc., or evaluated the CE mark for its HeartLight X3 Endoscopic Ablation System in April 2019, which employs laser energy in a pulmonary vein isolation operation to produce lines of scar tissue to block the faulty electrical pathways that cause atrial fibrillation.
The Germany market dominated the Europe Electrophysiology Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $773.2 million by 2028. The UK market is anticipated to grow at a CAGR of 7.5% during (2022 - 2028). Additionally, The France market would showcase a CAGR of 9.2% during (2022 - 2028).
Based on Type, the market is segmented into Electrophysiology Laboratory Devices, Electrophysiology Diagnostic Catheters, Electrophysiology Ablation Catheters, Electrophysiology Access Devices, and Others. Based on Electrophysiology Laboratory Devices Type, the market is segmented into ICE Ultrasound Imaging Systems, Electrophysiology X-Ray Systems, Radiofrequency (RF) Ablation Systems, 3D Mapping Systems & Electrophysiology Recording Systems, and Electrophysiology Remote Magnetic & Robotic Navigation Systems. Based on Electrophysiology Diagnostic Catheters Type, the market is segmented into Conventional, Ultrasound, and Advanced. Based on Electrophysiology Ablation Catheters Type, the market is segmented into Laser, Cryoablation, and Radiofrequency (RF) & Microwave. Based on End User, the market is segmented into Hospitals & Cardiac centres, and Ambulatory Surgery Centers. Based on Indication type, the market is segmented into Atrial Fibrillation, Atrial Flutter, AVNRT & WPW, and Others. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
Free Valuable Insights: The Global Electrophysiology Market Size will Hit $11.9 Billion by 2028, at a CAGR of 8.8%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Abbott Laboratories, Boston Scientific Corporation, General Electric (GE) Co. (GE Healthcare), Medtronic PLC, Koninklijke Philips N.V., Siemens Healthineers AG, Johnson & Johnson, MicroPort Scientific Corporation, Stereotaxis Inc., and Acutus Medical, Inc.
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