Electrophysiology is the division of science that deals with the analysis of electric activity present in human body. Electrophysiology measures electric current with a wide range of scales which includes channel proteins of single ion to entirebody organs. In neuroscience, which studies nervous systems –electrophysiology measures the electrical activity of neurons.
One of the major driving factors for the growth of this market is technological advancements in the development of electrophysiology devices. In addition, significant growth of aging population along with high risk of diseases is spurring the growth of electrophysiology market. Increasing occurrences of arrhythmia across the world coupled with increasing focus from key market participants to develop their geographic presence are few of the other reasons fuelling the need for electrophysiology devices. Catheter ablation procedures are finding increasing demand, which in turn, is driving the demand for electrophysiology market. On the other hand, other factors such as unskilled labour force in electrophysiology among developing nations are likely to restrain the market growth. The US has unfavourable healthcare reforms restricting the growth of this market.
Based on its product types, the electrophysiology market can be classified into three segments, namely, EP ablation catheters, EP diagnostic catheters, and EP laboratory devices. The EP diagnostic catheters product can further be segmented as advanced EP diagnostic catheters, conventional EP diagnostic catheters, and ultrasound EP diagnostic catheters. Similarly, EP ablation catheters product segment can be further bifurcated into radiofrequency (RF) EP ablation catheters, laser ablation systems, cryoablation EP catheters, microwave ablation and navigational advanced mapping accessories. Also, the EP laboratory devices product segment is further divided into 3D mapping systems, X-ray systems, EP recording systems, intra-cardiac echocardiography systems (ICE), radiofrequency (RF) ablation generators, and remote steering systems. Based on indication type, the global electrophysiology market is bifurcated into ventricular tachycardia, ventricular fibrillation, atrial flutter, atrial fibrillation, atrioventricular nodal re-entry tachycardia, atrial tachycardia and Wolff-Parkinson-White (WPW) syndrome.
Currently, North America accounts for the largest market share in global electrophysiology market while Europe ranks second across the globe. Moreover, growing healthcare funding for electrophysiology devices in North America and Europe has also propelled the growth of electrophysiology market. However, Asia-Pacific electrophysiology market is likely to expand at highest CAGR over the next few years. The high growth in Asia-Pacific can be attributed to the factors such as rising aging population, improved healthcare infrastructure, growing emphasis of healthcare multinational companies on emerging markets and high demand for electrophysiology devices from this region. For example, based on UN reports, emerging countries, such as China and India are likely to have greater geriatric population as compared to developed nations such as the U.S. The population numbers for people exceeding 60 years age are anticipated to reach 324 Mn in India and 437 Mn in China when compared to 107 Mn people in the U.S. by the year 2050. Aged people are more vulnerable towards eye related and cardiovascular diseases. However, cost of electrophysiology devices is high at present and alternative technologies are available in relatively lesser cost. This is likely to obstructs the growth of global electrophysiology market.
2015 – 2025
2015 – 2016
2018 – 2025
Product, Indication Type, Geography
North America, Europe, Asia-Pacific, Latin America, Middle East and Africa (MEA)
Market Trends, Drivers, Restraints, Porter's Five Forces Analysis, Competitive Analysis,
Player Profiling, Value Chain Analysis
Few of the major market participants in the global electrophysiology market are Abbott Laboratories (U.S.), Biosense Webster, Inc. (U.S.), Boston Scientific Corporation (U.S.), BIOTRONIK SE & Co. KG (Germany), Koninklijke Philips N.V. (The Netherlands), GE Healthcare (U.K.), Medtronic, Inc. (U.S.), St. Jude Medical, Inc. (U.S.), Microport Scientific Corporation (China), and Siemens AG (Germany).
Market By Product Type
· EP ablation catheters
o Radiofrequency (RF) EP ablation catheters
o Laser ablation systems
o Cryoablation EP catheters
o Microwave ablation
o Navigational advanced mapping accessories
· EP diagnostic catheters
o Advanced EP diagnostic catheters
o Conventional EP diagnostic catheters
o Ultrasound EP diagnostic catheters
· EP laboratory devices
o 3D mapping systems
o X-ray systems
o EP recording systems
o Intra-cardiac echocardiography systems (ICE)
o Radiofrequency (RF) ablation generators
o Remote steering systems
Market By Indication Type
· Ventricular tachycardia
· Ventricular fibrillation
· Atrial flutter
· Atrial fibrillation
· Atrioventricular nodal re-entry tachycardia
· Atrial tachycardia
· Wolff-Parkinson-White (WPW) syndrome
Market By Geography
· North America
o Rest of Europe
o Rest of Asia-Pacific
· Latin America
o Rest of Latin America
· Middle East and Africa (MEA)
o South Africa
o Saudi Arabia
o Rest of MEA
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