Electrophysiology Devices Market By Product (Electrophysiology Laboratory Devices, Electrophysiology Ablation Catheters, Electrophysiology Diagnostic Catheters, Cardiac Monitors, Implantable Cardioverter Defibrillators (ICDs), Access Devices, Left Atrial Appendage (LAA) & Closure Devices), By Indication (Atrial Fibrillation (AF), , Wolff-Parkinson-White (WPW) Syndrome, Atrioventricular Nodal Reentrant Tachycardia (AVNRT), Others) - Growth, Share, Opportunities & Competitive Analysis, 2018 – 2026

The Electrophysiology Devices Market Will Exhibit Healthy Growth Between 2018 and 2026.

The global electrophysiology devices market was worth $6,513.3 million in 2017 and is expected to be worth $16,730.2 million by 2026. Variables of the market include a globally growing older population base coupled with the rising prevalence of atrial fibrillation (AF) and cardiovascular diseases (CVDs), technological advancements in electrophysiology devices, and the presence of favorable government initiatives. The elderly population is more prone to developing AF and cardiovascular diseases. The World Health Organization (WHO) reported that the global elder population has surged from 841.0 million in 2013 to 962.3 million in 2017 and will surpass 2 billion by the end of 2050.

Currently, the number of individuals suffering from atrial fibrillation across the world is more than 33.5 million. AtriCure, Inc., an atrial fibrillation (AF) treatment devices firm, stated that the U.S. has 6.0 million AF patients who incurred a total cost of US$ 26.0 BN for the disease in 2017, and currently, the country holds more than US$ 1.0 BN in market share for atrial fibrillation. According to the American College of Cardiology (ACC) Foundation, about 422.7 million patients were living with cardiovascular disease in 2015, and around 17.9 million patients died from CVDs in 2016, accounting for 31.0% of all worldwide deaths.

Market Synopsis

The Electrophysiology Laboratory Devices Segment to Command the Market from 2018 to 2026

The electrophysiology laboratory devices segment is anticipated to hold the lion's share of the market between 2018 and 2026, owing to a surge in the number of electrophysiology labs in developed and developing countries, along with an increased focus on new product launches with technological advances in devices including EP X-ray systems, EP imaging systems, 3D mapping and recording systems, intracardiac echocardiography (ICE) systems, radiofrequency (RF) ablation generators, and electrophysiology remote steering systems. Electrophysiology ablation catheters include those for cryoablation and RF ablation, laser ablation systems, and microwave ablation (MWA) systems.

The atrial fibrillation segment is expected to continue its dominance during the forecast period.

The rising prevalence of atrial fibrillation (Afib), technological developments in atrial fibrillation devices such as novel 3D mapping technology, convergent procedures, the WATCHMAN left atrial appendage closure (LAAC) procedure, and focal impulse and rotor modulation (FIRM) ablation are supporting the governance of this segment in terms of value. Moreover, the increasing adoption of radiofrequency and microwave catheter ablation procedures and the advent of implantable cardiac monitors (ICMs) are likely to support market growth throughout the forecast period.

Because of its supportive healthcare infrastructure and key market players, North America will lead the market in 2017.

North America would continue to hold supremacy throughout the forecast period owing to the presence of major market participants and well-established healthcare infrastructure, the surging number of EP labs, and supportive reimbursement and coverage for electrophysiology procedures in the U.S. and Canada. Asia Pacific is envisaged to display a comparatively higher CAGR during the forecast period, attributed to increasing incidence rates of targeted diseases, growing awareness about EP procedures, and rising spending on healthcare in India, China, and Japan.

The presence of international market players creates market penetration challenges for new entrants.

Key participants in this space are Siemens Healthineers; Medtronic plc; Boston Scientific Corporation; Abbott Laboratories; Biosense Webster, Inc. (Johnson & Johnson Services, Inc.); BIOTRONIK SE & Co. KG; Nihon Kohden Corporation; MicroPort Scientific Corporation; CardioFocus, Inc.; and Stereotaxis, Inc. In December 2017, Abbott Laboratories, a global healthcare company, launched the world's first and only smartphone-compatible insertable cardiac monitor, namely the Confirm Rx insertable cardiac monitor (ICM), in the U.S. This device will assist physicians and cardiologists to remotely identify cardiac arrhythmias. Manufacturers have adopted growth strategies such as new product launches, collaborations and partnerships, divestitures, mergers and acquisitions, and operational and geographical expansion.

In July 2017, BIOTRONIK SE & Co. KG launched Intica DX and Intica cardiac resynchronization therapy (CRT)-DX implantable cardioverter defibrillator (ICD) systems for atrial diagnostics (without an atrial lead) in the U.S. In May 2015, GE Healthcare and Abbott Laboratories collaborated to provide the heart's electrical activity data to cardiac electrophysiology labs, wherein GE's CardioLab sends electrogram signal data to Abbott's RhythmView mapping software, which assists cardiologists in quickly diagnosing the sources of atrial fibrillation and other heart rhythm disorders.

Periods of History and Forecast

This study report includes an analysis for each segment from 2016 to 2026, with 2017 as the base year. The compound annual growth rate (CAGR) for each of the respective segments is estimated for the forecast period from 2018 to 2026.

Report Scope by Segments

The electrophysiology devices market concentrates on the qualitative and quantitative analysis of present and future market dynamics. The report involves complete information on the global electrophysiology devices market by segmenting the market on the basis of product, indication, and geography. This report will assist industry investors and associations, medical device companies, venture capitalists, suppliers and distributors of medical devices, research and consulting firms, research and academic institutes, and healthcare professionals (HCPs) in decision-making and strategizing the market position.

The current report also covers a qualitative and quantitative analysis of market variables such as key market drivers, restraints, opportunities, and trends, which convey comprehensive market information about the overall electrophysiology devices market. In addition, the report also embraces a graphical illustration of the competitive landscape based on their market initiatives and strategies, product portfolio, financial information, and key developments. Major market players profiled in this study report are Siemens Healthineers; Medtronic plc; Boston Scientific Corporation; Abbott Laboratories; Biosense Webster, Inc. (Johnson & Johnson Services, Inc.); BIOTRONIK SE & Co. KG; Nihon Kohden Corporation; MicroPort Scientific Corporation; CardioFocus, Inc.; and Stereotaxis, Inc.

Key questions are answered in this report.

  • What are the current market trends and dynamics in the electrophysiology devices market, and what are the valuable opportunities for emerging players?
  • Which product contributes to the maximum market share?
  • Which product accounts for the fastest CAGR during the forecast period?
  • Which indication holds the highest market share?
  • Which indication would register a comparatively higher CAGR over the forecast period?
  • What is the impact of high-cost electrophysiology devices on the market?
  • Are low- and middle-income economies investing in the electrophysiology devices market?
  • What are the market trends and dynamics in emerging markets such as Latin America, the Middle East, and Africa?

Frequently Asked Questions:

The market for Electrophysiology Devices Market is expected to reach US$ 16,730.2 Mn by 2026.

The Electrophysiology Devices Market is expected to see significant CAGR growth over the coming years, at XX%.

The report is forecasted from 2018-2026.

The base year of this report is 2017.

Siemens Healthineers; Medtronic plc; Boston Scientific Corporation; Abbott Laboratories; Biosense Webster, Inc. (Johnson & Johnson Services, Inc.); BIOTRONIK SE & Co. KG; Nihon Kohden Corporation; MicroPort Scientific Corporation; CardioFocus, Inc.; and Stereotaxis, Inc. are some of the major players in the global market.

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Published Date:  Oct 2018
Category:  Medical Devices
Report ID:   59377
Report Format:   PDF
Pages:   120
Rating:    4.4 (69)
Delivery Time: 24 Hours to 48 Hours   
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