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According to a new report, published by KBV research, The Global Electrophysiology Market size is expected to reach $11.9 Billion by 2028, rising at a market growth of 8.8% CAGR during the forecast period.
The Electrophysiology Diagnostic Catheters segment is showcasing a CAGR of 7.8% during (2022 - 2028). Some of the primary factors expected to boost the segment's growth in the coming years include increased investment by market participants in the development of novel mapping systems and catheters.
The Hospitals & Cardiac centers segment acquired maximum revenue share in the Global Electrophysiology Market by End User in 2021, thereby, achieving a market value of $10.6 billion by 2028. The substantial percentage of this end-user category can be attributable to several causes, including the presence of large cath labs and electrophysiology laboratories in hospitals, rising CVD prevalence, and an increase in ablation operations. The availability of cutting-edge facilities for disease diagnosis, treatment, and management, as well as qualified employees, has assured that hospital-based care is in high demand. Hospitals do more screening & diagnostic operations than other medical facilities, leading to a substantial share. The usage of electrophysiology devices in hospitals is growing due to the advent of improved electrophysiological products and the demand for
The AVNRT & WPW segment has shown growth rate of 9.5% during (2022 - 2028). This is because of an increase in atrial tachycardia cases and operation volume. Ablation procedures for atrial tachycardia, for example, have increased in the past period, particularly in China and Vietnam. Moreover, rising diabetes rates, drug use, and physical and emotional stress all have a role in the progression of this condition. The increased popularity of minimally invasive technologies as a treatment method will help the segment develop even faster during the projected period.
The North America is the fastest growing region in the Global Electrophysiology Market by Region in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $4.5 billion by 2028. The Europe market is estimated to witness a CAGR of 8.4% during (2022 - 2028). Additionally, The Asia Pacific market would exhibit a CAGR of 9.6% during (2022 - 2028).
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of 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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