Electrophysiology Catheter Market Growth and Analysis by 2028
Historic Data: 2019-2020 | Base Year: 2021 | Forecast Period: 2022-2028Electrophysiology Catheter Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Product Type (Electrophysiology Diagnostic Catheters, and Electrophysiology Ablation Catheters); Application (Diagnosis and Monitoring, Treatment of Cardiac Arrhythmias, and Imaging and Mapping); End User (Hospitals, Ambulatory Surgical Centers, and Cardiac Catheterization Labs)
- Report Date : Nov 2021
- Report Code : TIPRE00011640
- Category : Life Sciences
- Status : Published
- Available Report Formats :
- No. of Pages : 251
AI overview of Electrophysiology Catheter Market
The Electrophysiology Catheter Market is poised for significant growth, projected to reach a market size of US$ 7.29 billion by 2028, up from US$ 4.13 billion in 2021, reflecting a robust CAGR of 8.4% during the forecast period from 2022 to 2028. This growth is driven by the increasing prevalence of cardiovascular diseases and advancements in catheter ablation technologies. Key segments include electrophysiology diagnostic and ablation catheters, with applications in diagnosis, treatment of cardiac arrhythmias, and imaging. Notably, the trend towards minimally invasive procedures and the integration of AI in catheter technologies are shaping the future of this market. As healthcare expenditure rises and the geriatric population grows, the Electrophysiology Catheter Market is set to expand, offering new opportunities for innovation and improved patient care.
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.
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Electrophysiology Catheter Market: Strategic Insights
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Electrophysiology Catheter Market: Strategic Insights
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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 Regional Insights
The regional trends and factors influencing the Electrophysiology Catheter Market throughout the forecast period have been thoroughly explained by the analysts at The Insight Partners. This section also discusses Electrophysiology Catheter Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.
- Get the Regional Specific Data for Electrophysiology Catheter Market
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 |
Electrophysiology Catheter Market Players Density: Understanding Its Impact on Business Dynamics
The Electrophysiology Catheter Market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.
Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.
Major Companies operating in the Electrophysiology Catheter Market are:
- St. Jude Medical (Abbott)
- Boston Scientific Corporation
- Stryker Corporation
- Medtronic
- Transonic Systems Inc.
Disclaimer: The companies listed above are not ranked in any particular order.
- Get the Electrophysiology Catheter Market top key players overview
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.
Frequently Asked Questions
- Historical Analysis (2 Years), Base Year, Forecast (7 Years) with CAGR
- PEST and SWOT Analysis
- Market Size Value / Volume - Global, Regional, Country
- Industry and Competitive Landscape
- Excel Dataset
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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.
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