Electrophysiology Devices Market Demand, Share, Industry, Forecast and outlook (2024-2031)

Global Electrophysiology Devices Market is segmented By Product Type (Electrophysiology Ablation Catheters, Electrophysiology Diagnostic Catheters, Electrophysiology Laboratory Devices, Accessories and Consumables, Others) By Application (Atrial Fibrillation Ablation, Ventricular Tachycardia Ablation, Atrial Flutter Ablation, Cardiac Resynchronization Therapy, Implantable Cardioverter Defibrillator, Others) By End-User (Hospitals, Specialty Clinics, Ambulatory Surgical Centers, Laboratories, Others) and By Region (North America, Europe, South America, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2024-2031

Electrophysiology Devices Market Size

The global electrophysiology devices market reached US$ 8.25 billion in 2023 and is expected to reach US$ 25.91 billion by 2031, growing at a CAGR of 15.7% during the forecast period 2024-2031.

Electrophysiology is the study of the electrical properties and activities of biological cells and tissues. It encompasses various techniques and methodologies aimed at understanding the generation, propagation and regulation of electrical signals within living organisms, particularly within the nervous system and the heart. Electrophysiology primarily focuses on the electrical activities of the heart (cardiac electrophysiology) and the nervous system (neuroelectrophysiology). 

Electrophysiology devices refer to a broad category of medical instruments and equipment used to diagnose, monitor and treat electrical activities in the body, particularly those related to the cardiac electrophysiology and neuroelectrophysiology. These devices are primarily employed by healthcare professionals, including cardiologists, electrophysiologists, neurologists and other specialists, to assess the electrical function of organs and tissues, identify abnormalities and deliver targeted interventions as necessary.

Electrophysiology Devices Market Summary

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Electrophysiology Devices Market Dynamics

Rising advancements in electrophysiology devices

The rising advancements in electrophysiology devices are expected to drive the market over the forecast period. Advancements in electrophysiology devices often lead to more effective treatments for cardiac arrhythmias and related conditions. Innovations such as advanced mapping systems, catheter technologies and energy delivery mechanisms enhance the precision and efficacy of procedures like catheter ablation. This results in better patient outcomes, reducing the need for repeat interventions and improving overall quality of life.

For instance, on January 19, 2021, Baylis Medical launched JLL 2-French electrophysiology microcatheter. The launch enables physicians to reach previously inaccessible areas of the heart for procedure mapping, by making available the smallest diagnostic catheter in the European electrophysiology market. The JLL electrophysiology catheter family includes a 2F microcatheter and a 6F guiding catheter which can be combined to allow deeper coronary sinus (CS) mapping. Deeper electrophysiological examination, including mapping, is often required to aid in the diagnosis of idiopathic ventricular tachycardias, complex atrial tachycardias, and left Wolff-Parkinson-White Syndrome. The 2F microcatheter also allows mapping and pacing in smaller anatomy such as the Vein of Marshall (VOM).

As technology evolves, electrophysiology devices may be developed for new indications or expanded applications. The advancements often lead to the development of devices that offer improved patient comfort, shorter procedure times and faster recovery periods. Minimally invasive approaches, enabled by advanced catheter designs and navigation systems, reduce the need for hospital stays. This not only benefits patients but also contributes to healthcare cost savings, driving the adoption of electrophysiology devices.

For instance, on June 1, 2020, Boston Scientific cleared the U.S. launch of the DIRECTSENSE Technology, a tool for monitoring the effect of radiofrequency (RF) energy delivery during cardiac ablation procedures. Available on the RHYTHMIA HDx Mapping System, the DIRECTSENSE Technology, which received U.S. Food and Drug Administration approval is the only tool to monitor changes in local impedance electrical resistance around the tip of the INTELLANAV MiFi Open-Irrigated (OI) ablation catheter, offering physicians an additional measurement of therapy effect during an ablation. DIRECTSENSE Technology provides electrophysiologists with the first-ever local measurement and visualization of tissue response to radiofrequency ablation

Further, the increasing prevalence of cardiac arrhythmias, rising aging population, increasing preference for minimally invasive procedures and expanding electrophysiology devices for various applications are the factors expected to drive the market over the forecast period.

Restraints

Factors such as the high cost associated with electrophysiology devices, risks of complications, availability of alternative options and stringent regulatory requirements are the factors expected to hamper the market. 

Electrophysiology Devices Market Segment Analysis

The global electrophysiology devices market is segmented based on product type, application, end-user and region.

The electrophysiology ablation catheters segment accounted for approximately XX% of the electrophysiology devices market share

The electrophysiology ablation catheters segment is expected to hold the largest market share over the forecast period. Ablation catheters provide an effective treatment option for patients with cardiac arrhythmias, including atrial fibrillation, atrial flutter, supraventricular tachycardia and ventricular tachycardia. Catheter ablation offers a targeted approach to disrupting abnormal electrical pathways in the heart tissue, thereby restoring normal heart rhythm and alleviating symptoms.

For instance, on October 17, 2022, Biosense Webster, Inc., part of Johnson & Johnson MedTech, released the European launch of the HELIOSTAR Balloon Ablation Catheter, the first radiofrequency balloon ablation catheter. The HELIOSTAR Balloon Ablation Catheter is indicated for use in catheter-based cardiac electrophysiological mapping (stimulating and recording) of the atria and, when used with a compatible multi-channel RF generator, for cardiac ablation. The HELIOSTAR Balloon Ablation Catheter is fully integrated with the CARTO 3 System, a 3D mapping solution. The HELIOSTAR Balloon Ablation Catheter has a compliant balloon that can conform to varied pulmonary vein anatomy and provides the ability to achieve single-shot pulmonary vein isolation (PVI) in 12 seconds.

During catheter ablation procedures, electrophysiologists can monitor the electrical activity of the heart in real-time using intracardiac electrograms and mapping systems. This real-time feedback allows them to assess the effectiveness of the ablation lesions and make adjustments as needed to optimize treatment outcomes. 

Electrophysiology Devices Market Geographical Share

North America accounted for approximately XX% of the market share

North America region is expected to hold the largest market share over the forecast period owing to the strong presence of major players and rising demand for electrophysiology devices. North America especially the United States is a very well-known hub for its strong presence of major players such as medical device companies like Biosense Webster, Inc., GE HealthCare and others. This presence of major players in the region focuses on the launching of electrophysiology devices with advanced technologies, which further expands the market in the region.

For instance, on July 24, 2023, Biosense Webster, Inc., a global leader in cardiac arrhythmia treatment and part of Johnson & Johnson MedTech, cleared the U.S. launch of the OPTRELL Mapping Catheter with TRUEref Technology powered by the CARTO 3 System. The OPTRELL Mapping Catheter is a high-density diagnostic catheter, with small electrodes arranged in a fixed array formation to provide a high-definition electrophysiological mapping of complex cardiac arrhythmia cases like persistent atrial fibrillation (AFib), redo AFib ablation, atrial tachycardia and ventricular tachycardia. Catheter ablation is a safe and effective procedure to restore the heart's incorrect electrical signals, which cause an abnormal heart rhythm.

In addition, there is an increasing demand for electrophysiology devices in the region. Minimally invasive procedures, such as catheter ablation are increasingly preferred by patients and healthcare providers in the region due to their benefits, including shorter recovery times, reduced hospital stays and improved patient outcomes. The growing demand for minimally invasive approaches fuels the adoption of electrophysiology devices for catheter ablation procedures.

Electrophysiology Devices Companies

The major global players in the electrophysiology devices market include Medtronic plc, MicroPort Scientific Corporation, Abbott Laboratories, Biotronik SE & Co. KG, GE HealthCare, ATL Technology, Biosense Webster, Inc., Siemens Healthineers AG, Koninklijke Philips N.V. and Boston Scientific Corporation among others. 

COVID-19 Impact Analysis

The COVID-19 pandemic significantly impacted the global electrophysiology devices market. During the coronavirus disease 2019 (COVID-19) pandemic, many elective medical procedures, including elective cardiac procedures such as catheter ablation, were postponed or canceled to prioritize resources for COVID-19 patients and minimize the risk of virus transmission. This led to a decline in the number of electrophysiology procedures performed, affecting the demand for electrophysiology devices.

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• To visualize the global electrophysiology devices market segmentation based on product type, application, end-user and region as well as understand key commercial assets and players.
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• Excel data sheet with numerous data points of electrophysiology devices market-level with all segments.
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The global electrophysiology devices market report would provide approximately 61 tables, 64 figures and 188 Pages.

Target Audience 2024

• Manufacturers/ Buyers
• Industry Investors/Investment Bankers
• Research Professionals
• Emerging Companies