3D-Mapping Enabled Electrophysiology Devices to Drive Market Growth” Report

Aug 28,2020 | Healthcare

Future Market Insights (FMI) projects the global electrophysiology devices market to surge at a whopping CAGR of 9.4%, reaching US$ 15 Bn by 2030 end. A new report by the firm offers incisive insights, covering electrophysiology market growth in 20+ countries.

Electrophysiology Market

A recent market study published by FMI on the Electrophysiology market includes the global...

Electrophysiology Market

Over the years, cardiac fatalities have increased multifold, resulting in 18 million deaths annually. As a result, healthcare providers have been upgrading their treatment facilities with advanced and sophisticated technologies. Most treatment procedures are directed towards atrial fibrillation, the dominant cause for heart surgeries.

The incorporation of 3D-mapping imaging devices and radiofrequency ablation contraptions have been instrumental in improving cardiac procedures. These approaches have helped surgeons accurately pinpoint and ablate faulty tissues, thus offsetting the erratic transmission of impulses ushered in by atrial arrhythmias. Consequently, market players have increased their specialization in these technologies.

Global Electrophysiology Market- Key Takeaways

  • North America will emerge as the market hegemon, capturing 43.5% of the total market share by 2030
  • Hospitals to remain primary end-users of electrophysiology devices during the forecast period
  • Conventional electrophysiology diagnostic catheters to hold major sway
  • East & South Asia to witness massive entry of global electrophysiology market players, owing to favorable business policies
  • Dearth of proficient electrophysiotherapists may restrain growth prospects in certain regions

COVID-19’s Impact on the Electrophysiology Market

The coronavirus pandemic has ushered in a massive period of economic uncertainty, hampering growth prospects of several industries. This cloud of uncertainty also looms over the electrophysiology market.

Manufacturers have experienced production crunches in the wake of enforced lockdowns and mandatory social distancing measures which have caused logistical constraints.

Declining footfalls in clinics and hospitals has resulted in limited uptake of electrophysiology devices, causing a decline in demand for advanced solutions. However, recent findings have concluded that cardiac patients are highly vulnerable to contracting the virus, prompting healthcare providers to accommodate heart patients, keeping demand afloat in the coming months.

“Government authorities are pushing for fast-track product approvals, paving the way for deeper market penetration by prominent manufacturers in the upcoming forecast period,” remarks the FMI analyst.

Competitive Intelligence

Leading players in the electrophysiology landscape include Johnson & Johnson, Abbott Laboratories, Medtronic Plc, Koninklijke Philips N.V, Boston Scientific Corporation, Japan Lifeline, Stereotaxis, Microport Scientific Corporation, BIOTRONIK, Acutus Medical, Baylis Medical, EP Solutions SA, APN Health LLC, Teleflex and Merit Medical Systems.

Boston Scientific Corporation has a significant presence in this domain, offering the ADVANTICS Innovative Healthcare Solutions, helping hospitals and clinics overcome challenges in administering cardiovascular care. The program is especially designed to assist healthcare providers in streamlining their Left Atrial Appendage Closure (LAAC) procedures.

In 2018, Koninklijke Philips N.V. acquired EPD Solutions, a provider of image-guidance services for catheter ablation procedures to address cardiac arrhythmias for US$ 292 million. The acquisition was aimed at availing the latter’s 3-D imaging services and provide the same to potential end-users. 

In July 2020, BIOTRONIK doled out the Dynetic-35 next-generation cobalt chromium balloon expandable stent which will provide a full size range in the 6 French compatibility mode. The device shall aid in treating de novo or restenotic atherosclerotic lesions in the lilac arteries. Currently, it is already in use across Europe.

More Insights on the Electrophysiology Market

A recent market study published by FMI on the electrophysiology market includes the global industry analysis of 2015-2019 & opportunity assessment for 2020-2030, and delivers a comprehensive assessment of the most important market dynamics. The report involved detailed segmentation on the basis of product type, indication, end-user and region. Our analysts have conducted thorough research on the historical as well as current growth parameters of the market to obtain growth prospects with maximum precision.

About the Healthcare Division at Future Market Insights

Future Market Insights facilitates corporates, government, investors, and associated audiences in the healthcare sector to identify and accentuate vital aspects applicable to product strategy, regulatory landscape, technology evolution, and other crucial issues to achieve sustainable success. Our unique approach to gathering market intelligence equips you in devising innovation-driven trajectories for your business. Know more about our sector coverage here

About Future Market Insights (FMI)

Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, and has delivery centers in the UK, U.S. and India. FMI's latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.