Electrophysiology Devices Market: Challenges and Solutions in Development

The global market for electrophysiology devices was valued at USD 10.07 billion in 2023 and is projected to expand at a Compound Annual Growth Rate (CAGR) of 15.1% from 2024 to 2030.

The increasing utilization of electrophysiology (EP) tests for the diagnosis and treatment of heart conditions like atrial fibrillation is a key driver of market growth. Additionally, the rising demand for devices designed for cardiac rhythm management and constant monitoring, coupled with the expanding application of these devices in out-of-hospital settings, are further propelling industry growth. 

Gather more insights about the market drivers, restrains and growth of the Electrophysiology Devices Market

The prevalence of heart failure, cardiac arrest, and atrial fibrillation among millennials is on the rise due to factors such as sedentary lifestyles, smoking, excessive alcohol consumption, and others. According to the CDC, approximately 12.1 million Americans are expected to be affected by atrial fibrillation by 2030.  

The increasing number of catheter ablation procedures is poised to have a positive impact on the electrophysiology devices market. As the number of ablation procedures increases, there is a corresponding rise in demand for ancillary products. Moreover, electrophysiology devices, including EP devices, offer enhanced maneuverability for navigating complex anatomies, greater flexibility for reaching targeted areas, improved compatibility, and enhanced visualization capabilities through integrated imaging features.

An article published by Elsevier Inc. in March 2023 revealed that the annual rate of cardiac electrophysiology procedures in the U.S. increased from 817.9 per 100,000 beneficiaries in 2013 to 1,089.68 per 100,000 beneficiaries in 2019.

Device Type Segmentation Insights

Ablation catheters were the leading segment in the market in 2023, accounting for 45.6% of the total revenue. This segment is projected to exhibit the fastest growth rate during the forecast period. Ablation catheters are employed to regulate irregular heart rhythms that cannot be managed through medication. These catheters encompass radiofrequency (RF) ablation, cryoablation, and pulse field ablation. The dominance of this segment can be attributed to several factors, including a surge in heart failure and arrhythmia occurrences, heightened awareness of the reliability of electrophysiology procedures, advancements in EP technologies, and a rise in minimally invasive procedures. For example, in January 2024, Boston Scientific Corporation obtained approval for the FARAPULSE Pulsed Field Ablation System, which offers a novel approach to cardiac ablation.

The diagnostic catheters segment is poised to experience substantial growth during the forecast period. Diagnostic catheters are utilized to investigate and assess patients suspected of having cardiovascular diseases. These catheters include EP mapping devices, cardiac output catheters, and angiography catheters. In July 2023, Biosense Webster, Inc. introduced a mapping catheter, OPTRELL. OPTRELL is a high-density diagnostic catheter that provides high-definition EP mapping of complex cardiac arrhythmias.

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