North America Electrophysiology Market Size, Share & Industry Trends Analysis Report By Type, By End User, By Indication Type (Atrial Fibrillation, Atrial Flutter, AVNRT & WPW), By Country and Growth Forecast, 2022 - 2028
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Get in-depth analysis of the COVID-19 impact on the North America Electrophysiology Market
Market Report Description
The North America Electrophysiology Market would witness market growth of 8.1% CAGR during the forecast period (2022-2028).
Electrophysiology devices are primarily utilized in the diagnosis & treatment of cardiac disorders such as atrial and ventricular fibrillation, as well as tachycardia. Healthcare providers use a variety of electrophysiology-based technologies to diagnose and treat various diseases, including ablation & diagnostic catheters, mapping systems, and so on.
Moreover, during the forecast period, technical advancements in the pharmaceutical industry to create advanced electrophysiology catheters are expected to provide lucrative prospects for market expansion. For example, Boston Scientific Corporation, a medical device firm, announced the debut of DIRECTSENSE technology in the United States in June 2020.
The market's growth is fueled by an increase in the number of approvals for electrophysiological devices. For example, Abbott Laboratories, a pharmaceutical company, started in January 2022 when the EnSite X EP system with EnSite Omni polar technology had received FDA approval for the treatment of patients with atrial fibrillation. Additionally, the rise in the prevalence of chronic diseases like as diabetes, hypertension, and thyroid disease is propelling the electrophysiology market forward. Diabetics and people with high blood pressure are more likely to develop atrial fibrillation. In addition, due to the ageing impact, an increase in the incidence of geriatric population, who are more susceptible to cardiac arrhythmia illnesses, propels market expansion.
The electrophysiology market is dominated by North America. The COVID-19 pandemic had a significant impact on clinical medicine in the North American region. Patients infected with COVID-19 have received a significant number of resources, forcing a reduction in elective medical operations. As per a study published in the Indian Pacing and Electrophysiology Journal in December 2020 by Jeremy P.Berman et al., in the United States, a massive change in workflow and personnel forced by the pandemic enabled the team to efficiently address the intersection of COVID-19 and a variety of electrophysiology issues.
Moreover, this global disaster has had a personal and professional influence on electrophysiologists. In the United States, the Heart Rhythm Society, the American College of Cardiology, & the American Heart Association guided managing invasive & non-invasive electrophysiology procedures, clinic visits, and cardiac device interrogations, as per a research study by Dhanunjaya R. Lakkireddy et al. published in Circulation Journal Mar 2020.
The US market dominated the North America Electrophysiology Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $3,274.5 million by 2028. The Canada market is experiencing a CAGR of 10.6% during (2022 - 2028). Additionally, The Mexico market would exhibit a CAGR of 9.6% 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 U.S., Mexico, Canada, and Rest of North America.
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.
Scope of the Study
Market Segments Covered in the Report:
- Electrophysiology Laboratory Devices
- ICE Ultrasound Imaging Systems
- Electrophysiology X-Ray Systems
- Radiofrequency (RF) Ablation Systems
- 3D Mapping Systems & Electrophysiology Recording Systems
- Electrophysiology Remote Magnetic & Robotic Navigation Systems
- Electrophysiology Diagnostic Catheters
- Electrophysiology Ablation Catheters
- Radiofrequency (RF) & Microwave
- Electrophysiology Access Devices
By End User
- Hospitals & Cardiac centres
- Ambulatory Surgery Centers
By Indication type
- Atrial Fibrillation
- Atrial Flutter
- AVNRT & WPW
- Rest of North America
Key Market Players
List of Companies Profiled in the Report:
- 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.
- Acutus Medical, Inc.
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