What To Know
- The North America region dominates the electrophysiology market and the region is expected to continue its strong hold owing to the presence of well-established healthcare facilities, technological advancements, rise in the number of arrhythmia and heart failure cases and presence of key market players in the region.
- , published in Indian Pacing and Electrophysiology Journal December 2020, in the United States, application of a massive alteration in workflow and personnel forced by the pandemic allowed team to efficiently address the intersection of COVID-19 with a range of electrophysiology issues.
The “Electrophysiology Market – Growth, Trends , COVID-19 Impact , and Forecasts (2021 – 2026)” report has been added to ResearchAndMarkets.com’s offering.
The Electrophysiology Market is expected to register a CAGR of 8.5% during the forecast period.
Companies Mentioned
- Abbott Laboratories
- Biotronik SE & Co.KG
- Boston Scientific Corporation
- GE Healthcare
- Johnson & Johnson
- Medtronic PLC
- Microport Scientific Corporation
- Koninklijke Philips N.V.
- Siemens Healthineers
- Stereotaxis
- Imricor Medical Systems
- OSYPKA AG
Key Market Trends
Ablation Catheters Segment is Expected to Hold Significant Market Share Over the Forecast Period
Ablation catheters are useful in removing anomalous heart tissues that may result in irregular heartbeats. These devices work on the basis of ablation, which is a minimally invasive procedure that employs catheters to demolish the defective electrical pathways from the heart. Radiofrequency ablation and cryoablation are the most commonly used types of ablation catheters, and both are expected to hold significant market shares, aided by related advancements in the technology.
During the COVID-19 pandemic 2020, the health care providers have reduced outpatient services and delayed elective cardiac surgeries during the epidemic, while a large number of patients face more cardiovascular risks compared with those of the pandemic. Furthermore, the COVID-19 pandemic has led to a major re-structuring of cardiac services within the United Kingdom (i.e. postponement of non-urgent elective procedures and rationalisation of acute services). The major British cardiac societies have provided guidance which has helped inform a timely update of local hospital protocols and pathways.
According to a research study by Kaige Li et al., published in ESC Heart Failure Journal September 2020, in China, from 1 January 2020 to 24 March 2020, a total of 269 arrhythmia patients hospitalized for catheter ablation under strict risk assessments and careful infection prevention were retrospectively analysed and considered for analysis. The study results found that by adopting strict risk assessments and careful infection prevention measures, catheter ablation in patients with arrhythmia can be safely and effectively performed during the COVID-19 epidemic in well-controlled areas.
North America Dominates the Market and Expected to do Same in the Forecast Period
The North America region dominates the electrophysiology market and the region is expected to continue its strong hold owing to the presence of well-established healthcare facilities, technological advancements, rise in the number of arrhythmia and heart failure cases and presence of key market players in the region.
In North America region, the COVID-19 pandemic had a profound effect on the practice of clinical medicine. Tremendous resources have been poured into caring for patients infected with the COVID-19 necessitating a reduction in elective medical procedures. According to a research study by Jeremy P.Berman et al., published in Indian Pacing and Electrophysiology Journal December 2020, in the United States, application of a massive alteration in workflow and personnel forced by the pandemic allowed team to efficiently address the intersection of COVID-19 with a range of electrophysiology issues.
In addition, electrophysiologists have been impacted personally and professionally by this global catastrophe. According to a research study by Dhanunjaya R. Lakkireddy et al., published in Circulation Journal Mar 2020, in the United States, Heart Rhythm Society, the American College of Cardiology, and the American Heart Association provided guidance for managing invasive and non-invasive electrophysiology procedures, clinic visits and cardiac device interrogations.
According to a research study by Giuseppe Lippi et al., published in the International Journal of Stroke January 2020, it has been estimated that around 6-12 million people will suffer with atrial fibrillation in the United States by 2050. Since electrophysiology devices have a major application in detecting heart failure rates, the increasing number of cardiac failures is expected to drive the market over the forecast period.
While most of the population in Mexico is suffering from obesity, who are prone to fall prey to cardiovascular diseases, which is expected to drive the market growth. For instance, according to the Research Article published in 2018, “Cardiovascular risk reduction: Past, present and future in Mexico”, it was estimated that approximately 182 deaths per 100,000 people were noticed, due to cardiovascular diseases. However, this rate is expected to increase in future due to high obesity and diabetes rates.
Key Topics Covered:
1 INTRODUCTION
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Increasing Prevalence of Target Diseases
4.2.2 Technological Advancements in the Field of Electrophysiology
4.2.3 Increasing Demand for Catheter Ablation Procedures
4.3 Market Restraints
4.3.1 Lack of Skilled Professionals
4.3.2 Unfavorable Healthcare Reforms
4.4 Porter’s Five Force Analysis
5 MARKET SEGMENTATION
5.1 By Product
5.2 By Disease
5.3 Geography
6 COMPETITIVE LANDSCAPE
6.1 Company Profiles
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
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