PUBLISHER: The Business Research Company | PRODUCT CODE: 1588825
PUBLISHER: The Business Research Company | PRODUCT CODE: 1588825
Electrophysiology catheters are specialized medical devices used in electrophysiology to diagnose and treat heart rhythm disorders. These catheters are inserted into the heart via blood vessels to record electrical activity, map electrical pathways, and provide therapeutic treatments. They are primarily utilized in procedures conducted in specialized settings such as electrophysiology labs within hospitals or clinics.
The main types of electrophysiology catheters include diagnostic catheters, ablation catheters, and others. Electrophysiology diagnostic catheters are specifically designed to identify heart rhythm disorders. They are distributed through both online and offline channels and used for diagnosis and monitoring, treatment of cardiac arrhythmias, imaging, mapping, and other applications. End users of these devices include hospitals, ambulatory surgical centers, cardiac catheterization labs, and other healthcare facilities.
The electrophysiology catheters market research report is one of a series of new reports from The Business Research Company that provides electrophysiology catheters market statistics, including electrophysiology catheters industry global market size, regional shares, competitors with a electrophysiology catheters market share, detailed electrophysiology catheters market segments, market trends and opportunities, and any further data you may need to thrive in the electrophysiology catheters industry. This electrophysiology catheters 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 electrophysiology catheter market size has grown rapidly in recent years. It will grow from $6 billion in 2023 to $6.75 billion in 2024 at a compound annual growth rate (CAGR) of 12.6%. The growth during the historic period can be attributed to the increasing incidence of lifestyle diseases, greater adoption of electrophysiology procedures, a rising number of cardiac interventions, growing demand for personalized medicine, and an increasing emphasis on preventive care.
The electrophysiology catheter market size is expected to see rapid growth in the next few years. It will grow to $10.89 billion in 2028 at a compound annual growth rate (CAGR) of 12.7%. The growth projected for the forecast period can be attributed to the increasing incidence of cardiac arrhythmias, an expanding geriatric population, rising healthcare expenditure, greater awareness of cardiovascular diseases, and supportive policies and funding for cardiovascular health research. Key trends expected during this period include innovations in catheter design and functionality, advancements in catheter ablation techniques, a growing demand for minimally invasive procedures, the integration of advanced technologies such as 3D mapping and remote monitoring, and innovations in catheter materials.
The rising incidence of cardiovascular diseases is expected to drive the growth of the electrophysiology catheter market in the coming years. Cardiovascular diseases encompass a range of conditions affecting the heart and blood vessels, often leading to severe complications such as heart attacks, strokes, and heart failure. The increase in cardiovascular disease rates can be attributed to factors such as unhealthy diets, lack of physical activity, smoking, and excessive alcohol consumption. Electrophysiology catheters play a crucial role in diagnosing and treating heart rhythm disorders by mapping electrical activity and delivering precise therapeutic interventions. For instance, according to a report published by the American Heart Association, a US-based nonprofit organization specializing in cardiovascular medical research, cardiovascular disease led to 931,578 deaths in the US in January 2024, up from 928,741 in 2020. Globally, there were 19.91 million cardiovascular disease deaths in 2021, an increase from 19.05 million in 2020. As a result, the growing prevalence of cardiovascular diseases is contributing to the expansion of the electrophysiology catheter market.
Leading companies in the electrophysiology catheter market are focusing on the development of advanced technologies, such as the TRUEref technology-powered catheter, to improve patient outcomes and enhance procedural efficiency. The TRUEref Technology-powered catheter is a cutting-edge electrophysiology catheter that offers real-time, high-resolution mapping and precise localization, improving the accuracy and effectiveness of diagnosing and treating cardiac arrhythmias. For example, in September 2022, Biosense Webster Inc., a part of Johnson & Johnson MedTech, a US-based company specializing in heart rhythm disorder treatments, launched the OCTARAY Mapping Catheter with TRUEref Technology. This catheter is designed specifically for mapping cardiac arrhythmias, particularly atrial fibrillation (AFib), and is powered by the CARTO 3 Version 7 System. It features eight splines with optimized electrode spacing, allowing for faster and more efficient mapping.
In January 2024, CardioFocus, a US-based medical device company, acquired the Electrophysiology Technology division of Galvanize Therapeutics for an undisclosed sum. This acquisition brings together the CENTAURI System, a pulsed electric field generator CE-marked and available in the EU and UK, and the QuickShot catheter ablation system, which is still under development. It also includes a broad intellectual property portfolio, featuring licenses to several key patent families for pulsed electric field therapies. Galvanize Therapeutics is a US-based manufacturer specializing in electrophysiology catheters.
Major companies operating in the electrophysiology catheters market are Johnson & Johnson Services Inc., Abbott Laboratories, Medtronic plc, Siemens Healthineers, Philips Healthcare, GE Healthcare, Boston Scientific Corporation, Zoll Medical Corporation, Biotronik SE & Co. KG, Merit Medical Systems, Microport Scientific Corporation, Elekta AB, AtriCure Inc., AngioDynamics Inc., Biosense Webster Inc., CardioFocus Inc., Stereotaxis Inc., Acutus Medical Inc., OSYPKA AG, Imricor Medical Systems Inc
North America was the largest region in the electrophysiology catheters market in 2023. The regions covered in the electrophysiology catheters market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the electrophysiology catheters market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The electrophysiology catheters market consists of sales of mapping catheters, biosensing catheters, electrode catheters and cryoablation catheters. 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.
Electrophysiology Catheters Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on electrophysiology catheters market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for electrophysiology catheters ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The electrophysiology catheters market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of COVID-19 on supply chains and consumption patterns.