Global Electrophysiology Market Was Valued At $6.7 Billion In 2021 And Is Projected To Expand At A Cagr Of 12% By 2026

By Author: Tejashri
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Electrophysiology (EP) is a test used to diagnose abnormal heart rhythm or arrhythmias. It helps in evaluating the electrical activity of the heart by inserting a catheter into blood vessels that enter heart and then measuring the electrical activity through wire electrodes. EP ablation catheters, EP laboratory devices, EP diagnostic catheters, and EP access devices are just a few examples of the various types of EP products.

The Global Electrophysiology Market valued at $6.7 billion (2021) is set to witness a growth rate of 12% in the next 5 years. The global electrophysiology market is being driven by a number of key factors, including an increase in the volume of cardiac ablation procedures, a quick increase in the geriatric population to target diseases, a growing number of electrophysiology labs, the development of technologically advanced products by market players, and huge investments and funding from government bodies and market players.

New product development and commercialization to fuel the Electrophysiology Market demand

Technological advancements in terms of new product development tend to ...
... provide competitive edge to manufacturers and therefore, major players are continuously focusing on investing in research activities for new product development and increasing their geographic reach to strengthen their positions in this high growth market.

Below is a list of some recent developments:

In May 2022, CathVision received the US Food and Drug Administration (FDA) clearance for its ECGenius electrophysiology recording system offering high-fidelity, low-noise, cardiac electrograms, which helps electrophysiologists improve diagnosis and treatment of complex atrial arrhythmias such as atrial fibrillation (AF)

In February 2022, Medtronic received the US FDA expanded approval for its Freezor and Freezor Xtra Cardiac Cryoablation Focal Catheters for the treatment of pediatric atrioventricular nodal reentrant tachycardia (AVNRT)

In January 2022, Abbott received the US FDA clearance for its EnSite X EP System featuring EnSite Omnipolar Technology (OT), designed for the treatment of cardiac arrhythmias efficiently by creating three-dimensional maps of the heart

In June 2021, Siemens Healthineers received CE mark for its ACUSON AcuNav Volume ICE Catheter that helps in improving procedural efficiency for structural heart procedures due to reduction of general anesthesia

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Growing number of electrophysiology labs to boost adoption the Adoption of Electrophysiology Market

Increasing prevalence of atrial fibrillation and other target diseases drives the adoption of electrophysiology procedures across the globe. Both public and private organisations are continuously concentrating on creating EP labs and growing their services to provide patients with advanced treatment options.

In February 2022, Ramesh Hospitals (India) launched an advanced cardiac electrophysiology lab in Vijayawada, India with an aim to help and treat patients through advanced therapies such as RF ablation

In February 2022, Catholic Health (US) launched St. Francis Heart Center (SFHC) at its St. Catherine of Siena Hospital (SCSH) in Smithtown, US, for the treatment of patients with acute chest pain

In January 2022, Pulse Heart Institute (US) partnered with Summit Health Oregon (SHO), one of the largest independent multispecialty and physician-led medical group in Central Oregon, to launch EP services through the Heart Rhythm COE

Key strategies adopted by leading players operating in Electrophysiology Market

Leading players in the electrophysiology market have accepted acquisitions as key growth strategy to expand their product offerings and to develop advanced products.

Some of these advances are listed below-

In January 2022, Medtronic plc entered into an agreement to acquire Affera, Inc. offering solutions for cardiac arrhythmias. With this acquisition, Medtronic intends to advance its electrophysiology by entering into additional EP segments, such as mapping and navigation

In January 2022, H-CYTE, Inc. entered into a letter of intent to acquire Catheter Precision, Inc., a company focussed on developing advanced cardiac electrophysiology products

In June 2021, Boston Scientific Corporation exercised its option and acquired remaining shares of Farapulse, Inc., to complement its existing EP portfolio by including FARAPULSE Pulsed Field Ablation (PFA) System

In January 2021, Haemonetics Corporation entered into an agreement to acquire Cardiva Medical, Inc., a manufacturer of vascular closure system used during electrophysiology procedures

Competitive Landscape Analysis of Electrophysiology Market

The global electrophysiology market is marked by the presence of key players such as Abbott Laboratories (US); Medtronic plc (Ireland); Boston Scientific Corporation (US); BIOTRONIK SE & Co. KG (Germany); Johnson & Johnson (US); and others.

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