Electrophysiology Devices And Equipment Global Market Report 2024

The electrophysiology devices and equipment market size has grown rapidly in recent years. It will grow from $6.1 billion in 2023 to $6.74 billion in 2024 at a compound annual growth rate (CAGR) of 10.4%. Historical growth in the electrophysiology devices market was influenced by factors such as the prevalence of cardiac arrhythmias, an aging population, the adoption of minimally invasive procedures, adherence to clinical guidelines, and advancements in research.

The electrophysiology devices and equipment market size is expected to see strong growth in the next few years. It will grow to $9.66 billion in 2028 at a compound annual growth rate (CAGR) of 9.4%. The anticipated growth in the upcoming period in the electrophysiology devices market is driven by factors such as the integration of personalized medicine, the inclusion of telehealth solutions, expanded global access to healthcare services, and the utilization of electrophysiology devices in managing heart failure. Key trends expected in the forecast period encompass advancements in 4D mapping and visualization, remote ablation procedures, hybrid procedures, and the adoption of leadless cardiac pacing.

The escalating prevalence of cardiovascular diseases (CVD) stands as a significant driver impacting the electrophysiology devices and equipment market. With CVD being a leading cause of mortality globally, there's an amplified need for efficient and rapid treatment, spurring the demand for electrophysiology devices. For instance, data from the Office for National Statistics in March 2022 reported a rise in heart attack-related deaths from the previous year. Additionally, according to the Centers for Disease Control and Prevention (CDC) in May 2023, approximately 1 in 20 adults in the US grappled with cardiovascular diseases, resulting in significant mortality and affecting over 695,000 individuals in 2021.

Primary product categories within electrophysiology devices and equipment comprise electrophysiology ablation catheters, diagnostic catheters, and lab systems. Electrophysiology ablation catheters assess heart electrical activity, identifying irregular heart rhythms. Various monitoring tools encompass electrocardiographs (ECG), electroencephalographs (EEG), electrocorticographs (ECoG), electromyographs (EMG), electroretinographs (ERG), electrooculographs (EOG), Holter monitoring devices, X-ray systems, imaging, 3D mapping systems, and diagnostic electrophysiology catheters employed in the analysis of atrioventricular nodal reentry tachycardia (AVERT), Wolff-Parkinson-White syndrome (WPW), atrial flutter, and atrial fibrillation. These devices and equipment cater to hospitals, diagnostic centers, and clinics.

The electrophysiology devices and equipment market research report is one of a series of new reports that provides electrophysiology devices and equipment market statistics, including electrophysiology devices and equipment industry global market size, regional shares, competitors with an electrophysiology devices and equipment market share, detailed electrophysiology devices and equipment market segments, market trends and opportunities, and any further data you may need to thrive in the electrophysiology devices and equipment industry. This electrophysiology devices and equipment market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The surge in demand for minimally invasive procedures is anticipated to steer the growth of the electrophysiology devices and equipment market. These procedures, involving smaller incisions or natural body openings rather than large surgical cuts, offer various advantages such as reduced patient trauma, quicker recovery, and improved outcomes. For example, statistics from the International Society of Aesthetic Plastic Surgery (ISAPS) in January 2023 showed a notable 19.3% overall increase in procedures by plastic surgeons in 2021 compared to 2020. This significant increase of more than 12.8 million surgical and 17.5 million non-surgical procedures conducted globally indicates a growing preference for minimally invasive techniques, propelling the electrophysiology devices and equipment market.

Inconsistencies in global regulations governing electrophysiology devices and equipment create obstacles for market expansion, impacting industry growth. Diverse country-specific regulations concerning the approval and testing of these devices result in challenges for companies aiming to globalize their products. Some geographies stipulate that manufacturers conduct extensive clinical trials within their borders, adding to the overall cost of compliance. For instance, countries like Brazil, Japan, India, and China have evolving local regulations, leading to increased financial burdens on manufacturers to perform these trials. The necessity for such location-bound trials, especially in testing devices like cardiac rhythm management (CRM), often undermines the accuracy of test results due to limited availability and suitability of devices across multiple countries. This discrepancy poses challenges for manufacturers aiming to provide comprehensive and accurate trial data.

The permissibility of single-use device (SUD) reuse by regulatory agencies like The Medicines and Healthcare Products Regulatory Agency (MHRA) may impact the growth of the electrophysiology devices and equipment market, especially considering the potential reuse of certain products in the industry. The MHRA guidelines permit the reuse of electrophysiology catheters, provided the devices comply with the medical devices directive and possess a CE mark. Reprocessing or reusing such catheters in electrophysiology (EP) labs in the US is known to reduce device costs and minimize the environmental impact associated with discarded bio-waste materials. However, the lack of clear regulations on reuse in developing regions such as Africa, Asia, Eastern Europe, Central America, and South America might present challenges for the electrophysiology devices and equipment market.

Prominent players in the electrophysiology devices and equipment market are actively engaged in developing innovative solutions, like the TRUEref Technology-equipped mapping catheter, to maintain their competitive edge. Mapping catheters are integral in electrophysiology procedures, especially in cardiac applications. An example of this innovation is demonstrated by Biosense Webster, Inc., a leading US-based company specializing in heart rhythm diagnosis and treatment. In September 2022, the company introduced the OCTARAY Mapping Catheter featuring TRUEref Technology, a system that offers enhanced performance and precision in comparison to earlier mapping catheters. This advanced catheter, equipped with six electrodes per spline that rotate, significantly enhances the accuracy and detailed mapping of arrhythmias in various cardiac chambers, making it a valuable tool for healthcare professionals in diagnosing and treating these conditions.

In September 2021, Boston Scientific, a key player in the electrophysiology devices and equipment sector, completed the acquisition of Lumenis for a substantial transaction value of $1.07 billion. This strategic move allowed Boston Scientific to significantly broaden its product portfolio and market presence, notably in the United States and Japan. Lumenis, an Israeli-based medical equipment and technology firm, brought valuable assets and capabilities to Boston Scientific's expanding business.

Major companies operating in the electrophysiology devices and equipment market include Boston Scientific Corporation, Abbott Laboratories, GE Healthcare, Philips Healthcare, Biotronik SE & Co. KG, Medtronic PLC, Biosense Webster Inc., Microport Scientific Corporation, Japan Lifeline Co., C.R. Bard, Mennen Medical Ltd., Harvard Bioscience Inc., HeNan HuaNan Medical Science and Technology Co. LTD., Nihon Kohden Corporation, Alere Inc., MedRobotics, Interface Biologics Inc., Meridian Health System Inc., Cardiva Medical Inc., Lombard Medical Technologies, Deltex Medical Group, Biotelemetry, Bioheart Inc., Asahi Intecc Co. Ltd., Siemens Healthineers, Lepu Medical Technology (Beijing) Co. Ltd, Acutus Medical Inc., Imricor Medical Systems, Johnson & Johnson

North America was the largest region in the global electrophysiology devices and equipment market in 2023. Western Europe was the second-largest region in the global electrophysiology devices and equipment market. The regions covered in the electrophysiology devices and equipment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.

The countries covered in the electrophysiology devices and equipment market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada.

The electrophysiology devices and equipment market consist of sales of ablation catheters, diagnostic catheters, mapping system, accessories, and other electrophysiology devices. Values in this market are factory gate values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


This product will be delivered within 3-5 business days.