San Francisco, 11 November 2024: The Report Electrophysiology Devices Market Size, Share & Trends Analysis Report By Device Type (Ablation Catheters, Diagnostic Catheters, Laboratory Devices, Access Devices), By Indication, By End Use, By Region, And Segment Forecasts, 2030 - 2030

The global electrophysiology devices market size is expected to reach USD 30.09 billion by 2030, expanding at a CAGR of 15.1% from 2030 to 2030, according to a new report by Grand View Research, Inc. The demand for electrophysiology procedures is expected to increase owing to the growing geriatric population and frequent cardiac arrhythmias incidents. According to the World Health Organization, the population aged 60 years and above was approximately 1 billion in 2020 and is expected to reach 1.4 billion by 2030. The adoption of diagnostics and ablation techniques among medical professionals has resulted in the high usage of EP products in the past few years and is likely to drive market growth. The development of new products, such as Nanostim-dual-chamber leadless pacemakers, is anticipated to fuel demand for EP products.

Cardiac ablation has gained popularity as the first-line treatment, rendering a 95% success rate for several rhythm disorders, which, in turn, is boosting its demand. Technological developments, such as laser ablation, cryo-ablation, and ultrasound ablation, coupled with optimized mapping techniques are anticipated to augment market growth over the forecast period. For instance, in September 2020, Koninklijke Philips N.V. released new imaging and workflow enhancements for their novel Kodex-EPD cardiac imaging and mapping system. The market was profusely impacted by the COVID-19 pandemic. Disruptions in the supply chain and postponement of elective surgeries declined the sales of EP systems. According to a study published in the Journal of Cardiothoracic Surgery, approximately 50 to 75% of reduction in cardiac surgeries was reported during the pandemic.

The market is now revamped owing to the adoption of digital health and technological advancements in cardiac surgeries. Moreover, virtual clinics were launched for patients suffering from Atrial Fibrillation(AFib) during the pandemic. For instance, in April 2020, the Physician-Patient Alliance for Health and Safety launched Virtual Patient Care for patients suffering from AFib and had treatment with electrophysiology systems. Prominent players are adopting various strategies including new product launches andM&As to strengthen their position. For instance, in June 2020, Boston Scientific Corp. launched Directsense Technology in the U.S. It will monitor the radiofrequency energy delivery effects during the procedures for cardiac ablation. Directsense technology was approved by the U.S. FDA in April 2020 and is available on RHYTHMIA HDx Mapping System.

Increasing use of electrophysiology (EP) tests in treating and diagnosing heart diseases, such as atrial fibrillation, growing demand for devices for cardiac rhythm management for constant monitoring, and increasing application of these devices in out-of-hospital settings are propelling the industry growth. The prevalence of heart failure, cardiac arrest, and atrial fibrillation among millennials is rising due to sedentary lifestyles, smoking, excessive alcohol consumption, and others. According to the CDC, approximately 12.1 million Americans will be suffering from atrial fibrillation by 2030.

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The growing number of catheter ablation procedures will positively impact the global market. As the number of ablation procedures rises, a direct increase in demand for ancillary products is observed. Furthermore, electrophysiology devices include electrophysiology (EP) devices that enhance maneuverability for navigating complex anatomies, provide greater flexibility for reaching targeted areas, improve compatibility, and enhance visualization capability through integrated imaging capabilities. According to an article published by Elsevier Inc. in March 2023, the annual rate of cardiac electrophysiology (EP) procedures increased from 817.9 in 2013 to 1,089.68 per 100,000 beneficiaries in 2030 within the U.S.

Electrophysiology Devices Market Report Highlights

• Based on type, the ablation catheter segment accounted for the largest share of 45.53% of the market in 2024 due to growing heart failure and arrhythmia incidences, awareness regarding the electrophysiology procedures’ reliability, and advancement in EP technologies
• Based on indication, the atrial fibrillation segment accounted for the largest market share in 2024. It is estimated to register the fastest CAGR of 15.6% during the forecast period. It is the most common type of arrhythmia associated with a high risk of stroke and blood clotting
• Inpatient facilities accounted for the largest end-use segment with over 83.47% share in 2024, attributed to the high number of surgeries performed in hospitals
• North America dominated the market with a revenue share of over 49.45% in 2024, due to the high prevalence of heart failure, growing aging population, and robust healthcare system.

The growing arrhythmia burden is expected to propel opportunities in the global market. According to an article published by Johnson & Johnson Services, Inc. in 2021-22, the prevalence of atrial fibrillation (AFib) was over 7 million in the U.S., 20 million in Asia Pacific, 14 million in Europe, and nearly 2 million in Latin America. In Europe, countries such as France, Germany, Italy, and the UK witness over 1 million AFib cases. Furthermore, the region has an aging population, leading to a projected 70.0% increase in AFib cases within the next few years (by 2030). By 2050, Europe is anticipated to witness the most significant rise in AFib cases globally. Consequently, AFib-related stroke events, hospitalizations, and outpatient visits are expected to surge substantially, creating an increased demand for electrophysiology devices.

The market is highly consolidated, with leading players introducing novel products. The market growth stage is high, and the pace of market growth is accelerating. For instance, in January 2024, GE HealthCare introduced the Prucka 3 Digital Amplifier as an innovative platform for innovation in EP. This next-generation system offers enhanced capabilities for diagnosing and treating heart rhythm disorders.

Electrophysiology Devices Market Report Scope

The market is witnessing continuous research and development, such as adopting 3D mapping systems, the production of wireless and wearable devices for continuous monitoring, and the integration of artificial intelligence (AI) in electrophysiology procedures. Manufacturers are focusing on introducing novel technologies to produce more accurate, cost-effective, and user-friendly EP devices.