Electrophysiology is defined as the branch of science that deals with the study of electrical pathway associated with heart nervous system. Electrophysiology devices are designed to measure electric current or voltage change on a wide range of scale from single ion channel protein to organs such as heart. The electrophysiology procedure is used to analyze heart’s electrical system and to manage abnormal heart rhythms.
List of Key Players
- ABBOTT LABORATORIES
- Biotronik SE & Co. KG
- BOSTON SCIENTIFIC CORPORATION
- CardioFocus, Inc.
- GE Healthcare
- Koninklijke Philips N.V.
- Johnson & Johnson Services, Inc.
- Medtronic plc. (Zephyr Technology Corporation)
- MICROPORT SCIENTIFIC CORPORATION
- Siemens Healthineers AG
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Key Findings Of The Study
- By product, the EP ablation catheters segment was the highest contributor to the electrophysiology market in 2020.
- On the basis of indication, the atrial fibrillation segment dominated the market in 2020, and is expected to continue this trend during the forecast period.
- Depending on end user, the hospitals & cardiac centers segment led the electrophysiology market in 2020.
- Region wise, North America garnered the largest revenue share in 2020, however, Asia-Pacific is anticipated to grow at the highest CAGR during the forecast period.
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The COVID-19 outbreak is anticipated to have a negative impact on growth of the global electrophysiology market. Implementation of lockdown has delayed the ablation procedure; thereby, having a minimal negative impact on the market. The COVID-19 pandemic has stressed healthcare systems in the world and increased the need for advanced hospitals. Many hospitals across the globe, including cardiac centers were restructured to increase hospital capacity for patients diagnosed with COVID-19. This leads to cancellation of many non-essential surgical procedures and the quality of care toward patients other than COVID-19 decreases. This has significantly contributed to decline of the global market.
The global electrophysiology market is segmented into product, indication, end user, and region. On the basis of product, the market is segregated into EP ablation catheters, EP laboratory devices, EP diagnostic catheters, access devices, and others. The EP ablation catheters segment is further subcategorized into cryoablation EP catheters, radiofrequency ablation catheters, microwave ablation systems, laser ablation systems, and navigational advanced mapping accessories. The EP laboratory devices segment is further subcategorized into EP X-Ray systems, 3D mapping systems, EP recording systems, EP remote steering systems, and others.
Further, the EP diagnostic catheters segment is further subcategorized into conventional EP diagnostic catheters, advanced EP diagnostic catheters, and ultrasound EP diagnostic catheters. The EP ablation catheters segment dominated the market in 2020, and this trend is expected to continue during the forecast period, owing to advancements in technology to manufacture innovative electrophysiology market ablation catheter and increase in number of ablation procedure.
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