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

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 growing use of electrophysiology (EP) tests in both the prevention and treatment of heart diseases such as atrial fibrillation, as well as the increased demand for equipment for cardiac rhythm leadership for continuous monitoring and the increasing application of these gadgets in out-of-hospital settings, are driving industry growth. Sedentary lifestyles, cigarette smoking, excessive alcohol use, and other factors are all contributing to an increase in the occurrence of heart failure, sudden cardiac arrest, and AF among millennials. According to the Centers for Disease Control and Prevention, roughly 12.1 million Americans will have AF by 2031. 

Furthermore, Europeans are more susceptible to atrial fibrillation than African Americans. According to the European Society of Cardiology, one of the leading causes of death in Western countries is abrupt cardiac arrest caused by an irregular heart rhythm. Every year, around one in every 1,000 persons is affected. Cardiology specialist equipment used for the detection and management of heart arrhythmias is electrophysiology devices. As a result, the rising prevalence of heart disease is fueling market expansion. EP has made mobile cardiac monitoring and ambulatory electrocardiogram (ECG) tracking more accessible. Remote monitoring of implanted cardiac devices, data storage in the public internet, and the addition of wireless transmission are projected to drive market expansion. 

It enables healthcare providers to gain access to patient information, such as 3D photos and movies obtained during ablation treatments. Patients' preference for minimally invasive operations has grown in recent years. Cryoablation, laser therapy, ultrasonic ablation, and better mapping technologies are also anticipated to be beneficial to the sector. Medtronic, for example, got U.S. FDA approval in February 2022 for the Freezor & Freezor Xtra Cardiac Cryoablation Focal Catheters for the management of Atrioventricular Nodal Reentrant Tachycardia (AVNRT) in pediatric patients.