Market Size –
The electrophysiology catheter market size has grown rapidly in recent years. It will grow from $6 billion in 2023 to $6.75 billion in 2024 at a compound annual growth rate (CAGR) of 12.6%. The growth in the historic period can be attributed to rising incidence of lifestyle diseases, growing adoption of electrophysiology procedures, rising number of cardiac procedures, rising demand for personalized medicine, increasing focus on preventive care.
The electrophysiology catheter market size is expected to see rapid growth in the next few years. It will grow to $10.89 billion in 2028 at a compound annual growth rate (CAGR) of 12.7%. The growth in the forecast period can be attributed to increasing incidence of cardiac arrhythmias, growing geriatric population, rising healthcare expenditure, rising awareness about cardiovascular diseases, supportive policies and funding for cardiovascular health research. Major trends in the forecast period include innovations in catheter design and functionality, advancements in catheter ablation techniques, demand for minimally invasive procedures, incorporation of advanced technologies like 3d mapping and remote monitoring, innovation in catheter materials.
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Scope Of Electrophysiology Catheters Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Market Drivers –
The increasing prevalence of cardiovascular diseases is expected to propel the growth of the electrophysiology catheter market moving forward. Cardiovascular diseases encompass a range of conditions affecting the heart and blood vessels, often leading to serious complications such as heart attacks, strokes, and heart failure. The rise in cardiovascular disease rates is linked to several factors, including unhealthy diets, sedentary lifestyles, smoking, and excessive alcohol consumption. Electrophysiology catheters are essential for diagnosing and treating heart rhythm disorders by mapping electrical activity and delivering targeted therapeutic interventions. For instance, in January 2024, the American Heart Association reported that cardiovascular disease was responsible for 931,578 deaths in the US, slightly up from 928,741 in 2020. Additionally, globally, there were 19.91 million cardiovascular disease deaths in 2021, compared to 19.05 million in 2020. Therefore, the increasing prevalence of cardiovascular diseases is a key driver of the electrophysiology catheter market.
Market Trends –
Major companies operating in the electrophysiology catheter market are developing technologically advanced products, such as the TRUEref technology-powered catheter, to enhance patient outcomes and streamline procedures. The TRUEref Technology-powered catheter is an advanced electrophysiology catheter that utilizes real-time, high-resolution mapping and precise localization to improve the accuracy and efficacy of cardiac arrhythmia diagnosis and treatment. For instance, in September 2022, Biosense Webster Inc., part of Johnson & Johnson MedTech, a US-based company that provides treatment of heart rhythm disorders, launched the OCTARAY Mapping Catheter equipped with TRUEref Technology, designed for mapping cardiac arrhythmias, particularly atrial fibrillation (AFib). The CARTO 3 Version 7 System powers this catheter and features eight splines with enhanced electrode spacing, allowing for shorter and more efficient mapping times.
The electrophysiology catheters market covered in this report is segmented –
1) By Product Type: Electrophysiology Diagnostic Catheters, Electrophysiology Ablation Catheters, Other Product Types
2) By Distribution Channel: Online, Offline
3) By Application: Diagnosis And Monitoring, Treatment Of Cardiac Arrhythmias, Imaging And Mapping, Other Applications
4) By End User: Hospitals, Ambulatory Surgical Centers, Cardiac Catheterization Labs, Other End Users
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Regional Insights –
North America was the largest region in the electrophysiology catheters market in 2023. The regions covered in the electrophysiology catheters market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies –
Major companies in the market are Johnson & Johnson Services Inc., Abbott Laboratories, Medtronic plc, Siemens Healthineers, Philips Healthcare, GE Healthcare, Boston Scientific Corporation, Zoll Medical Corporation, Biotronik SE & Co. KG, Merit Medical Systems, Microport Scientific Corporation, Elekta AB, AtriCure Inc., AngioDynamics Inc., Biosense Webster Inc., CardioFocus Inc., Stereotaxis Inc., Acutus Medical Inc., OSYPKA AG, Imricor Medical Systems Inc
Table of Contents
1. Executive Summary
2. Electrophysiology Catheters Market Report Structure
3. Electrophysiology Catheters Market Trends And Strategies
4. Electrophysiology Catheters Market – Macro Economic Scenario
5. Electrophysiology Catheters Market Size And Growth
…..
27. Electrophysiology Catheters Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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