Global Electrophysiology Market Business Strategies and Massive Demand by 2023-2028 Market Share | Revenue and Forecast
Global Electrophysiology Market Insights:
According to MarkNtel Advisors, the Global Electrophysiology Market is projected to grow at a CAGR of around 10.5% during the forecast period, i.e., 2023-28. The market is largely driven by the intensifying burden of cardiac arrhythmias worldwide. The emerging need for high precision and controlled cardiac diagnostic and ablation procedures paired with conducive reimbursement policies is observed to be a solid booster to the adoption of minimally invasive electrophysiology therapies.
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Global Electrophysiology Market Definition:
Electrophysiology is the branch of physiology, primarily concerned with the electrical properties of biological cells and tissues. It involves measurements of voltage changes or electric current or manipulations on a wide variety of scales from single ion channel proteins to whole organs like the heart.
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Global Electrophysiology Market Key Driver:
The Transcending Burden of Cardiovascular Diseases Worldwide - An alarming rise in the number of cardiac arrhythmias has compelled innovations in the manufacturing of electrophysiology devices. According to WHO, around 17.9 million people succumb to Cardiovascular diseases (CVDs) every year, accounting for 32% of total deaths worldwide. Out of 5, four CVD deaths are due to strokes and heart attacks, with one-third of these deaths occurring in people under 70. Likewise, as per Canadian government health statistics, one out of twelve Canadians lives with heart disease. Backed by behavioral risk factors such as unhealthy diet, physical inactivity, and excess alcohol and tobacco consumption, the patient pool is expected to surge in the coming years, presenting the need for more effective electrophysiology devices. As a result, the market is expected to enthrall in the coming years.
Global Electrophysiology Market Segmentation:
1. By Product
- Electrophysiology Laboratory Devices
- Electrophysiology Ablation Catheters
- Electrophysiology Diagnostic Catheters
- Access Devices
- Other Products
2. By Indication Type
- Atrial Fibrillation
- Atrial Flutter
- Atrioventricular Nodal Reentry Tachycardia (AVNRT)
- Wolff-Parkinson-White Syndrome (WPW)
- Other Indications
3. By End User
- Hospitals & Cardiac Centers
- Ambulatory Surgery Centers
Global Electrophysiology Market Geographically Analysis:
4. By Region
- North America
- South America
- Europe
- The Middle East & Africa
- Asia-Pacific
Global Electrophysiology Leading Companies:
- Abbott
- Medtronic
- Boston Scientific Corporation
- Koninklijke Philips N.V.
- General Electric Company
- Siemens Healthineers International AG
- Stereotaxis Inc
- Merit Medical Systems
- APN Health LLC
- Osypka Medical
- Japan Lifeline Co Ltd
- Johnson & Johnson
- Biotronik
- Microport Scientific Corporation
- Cathrx Ltd.
- Others (Cook Medical, Teleflex Incorporated, etc.)
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