Global Electrophysiology Devices Market

Electrophysiology Devices Market Size, Share, Growth Analysis, By Type(Ablation Catheters [Radiofrequency (RF) Ablation, Cryoablation, Pulse Field Ablation], Diagnostic Catheter), By Indication(Atrial fibrillation, Non-Atrial Fibrillation), By Region - Industry Forecast 2024-2031


Report ID: SQMIG35A2420 | Region: Global | Published Date: September, 2024
Pages: 219 | Tables: 89 | Figures: 76

Electrophysiology Devices Market News

  • In March 2024, The US Food and Drug Administration (FDA) issued 510(k) clearance to Synaptive Medical’s near-infrared (NIR) fluorescence visualization module, Modus IR. 

  • In February 2024, US-based nanoscience company EVŌQ Nano’s antimicrobial medical device platform has demonstrated effectiveness against the world’s leading pathogens implicated in healthcare-associated infections (HAIs).  

  • In January 2024, The European Commission (EC) has proposed an extension of the transition period for the IVDR, aiming to maintain the availability of essential healthcare products and ensure patient care. 

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Global Electrophysiology Devices Market size was valued at USD 6.09 billion in 2022 and is poised to grow from USD 6.78 billion in 2023 to USD 15.81 billion by 2031, at a CAGR 11.16 % during the forecast period (2024-2031).

The market is extremely competitive, with players pursuing new product development and large R&D investments as a long-term strategy. Companies around the world are pursuing an inorganic growth approach to expand product portfolios and gain a presence in the sector. For example, Boston Scientific Corp. finalized the acquisition of Baylis Medical firm Inc. in February 2022, a firm specializing in providing an advanced transseptal option for catheter-based treatments on the left side of the heart. 'Medtronic (Ireland) ', 'Boston Scientific Corporation (US) ', 'Abbott (US) ', 'GE HealthCare (US) ', 'Biotronik SE & Co. KG (Germany) ', 'MicroPort Scientific Corporation (China) ', 'Koninklijke Philips N.V. (Netherlands) ', 'Siemens Healthineers (Germany) ', 'CardioFocus Inc. (US) ', 'LivaNova PLC (UK) ', 'Penumbra, Inc. (US) ', 'Stereotaxis, Inc. (US) ', 'Advanced Cardiac Therapeutics, Inc. (US) ', 'CathRx Ltd. (Australia) ', 'Osypka Medical GmbH (Germany) ', 'AngioDynamics, Inc. (US) ', 'H2O.ai Inc. (US) ', 'DataRobot, Inc. (US) ', 'Clarifai, Inc. (US) ', 'Darktrace plc (UK) ', 'C3.ai, Inc. (US) '

Increasing Prevalence of Cardiac Arrhythmias 

Minimally invasive procedures: There is a growing trend towards minimally invasive procedures in the field of electrophysiology. Advances in technology and device design have enabled the development of catheter-based techniques that allow for precise diagnosis and treatment of cardiac arrhythmias with reduced patient discomfort, shorter recovery times, and lower risk of complications.

In 2023, the market for electrophysiology (EP) devices was dominated by North America, which had 48.3% of the global market share. The main factors driving this region's growth are the increased prevalence of cardiovascular disease, the sophisticated healthcare system, and the presence of important players. Furthermore, it is anticipated that the growing number of patients undergoing procedures and the increased public awareness of minimally invasive surgery will drive market expansion in North America. 

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Global Electrophysiology Devices Market

Report ID: SQMIG35A2420

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