In a recently published report, Electrophysiology Market report for till 2030. The report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to regain 25% by the end of 2021- Positive Growth in the economic demand and supply.
U S Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analysis and U.S. Census Bureau mention the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) average exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilst imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Electrophysiology Market products.
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Moreover, increasing expenditure on healthcare, backed by the need amongst individuals for quality healthcare services, is also anticipated to contribute to the market growth. According to the statistics by the World Bank, the current health expenditure (% of GDP) around the world increased from 9.08% in 2001 to 9.84% in 2018. Additionally, the current health expenditure per capita (current US$) increased from USD 492.99 in 2001 to USD 1110.84 in 2018.
“Global Electrophysiology Market is valued approximately USD 6.2 billion in 2019 and is anticipated to grow with a healthy growth rate of more than 9.1 % over the forecast period 2020-2027. Electrophysiology is study of electric activity in the human body, which further helps to acknowledge the assessment of electrical impulses of the heart and to evaluate abnormal heartbeats. The electrophysiological devices are used to detect any abnormality in these electrical impulses given out by the tissues or cells in the human body such as arrhythmias can be detected. The atrioventricular nodal reentry tachycardia, atrial fibrillation, Wolff-Parkinson-White Syndrome, atrial flutter, and other cardiac arrhythmias can be diagnosed with the help of advanced electrophysiology technologies. The global Electrophysiology is facing challenges due to the coronavirus pandemic as temporary locked downin various countries which results in slow-down in patient flow and referrals.
The technological advancements, new entrants in the market, growing investments, funds, and grants and increasing incidence of target diseases and procedures are the few factors responsible for growth of the market over the forecast period. Furthermore, the rising advancements and other strategic alliance by market key players will create a lucrative demand for this market. For instance: On 12th January 2017, Abbott Laboratories launched EnSite Precision™ cardiac mapping system and Advisor™ FL Circular Mapping Catheter, Sensor Enabled™ to map cardiac arrhythmias during ablation treatments. Whereas, high cost of electrophysiology products and inadequate reimbursement is the major factor restraining the growth of global Electrophysiology market during the forecast period.
The regional analysis of global Electrophysiology market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. Asia Pacific is the leading/significant region across the world owing to the large population, increasing geriatric population, growing incidence of chronic diseases, rising healthcare spending, healthcare reforms for infrastructural development, increasing demand for advanced technologies. Whereas, Asia-Pacific is also anticipated to exhibit highest growth rate / CAGR over the forecast period 2020-2027.
Major market player included in this report are:
Johnson & Johnson
Koninklijke Philips N.V.
Boston Scientific Corporation
Microport Scientific Corporation
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
Electrophysiology Ablation Catheters
Electrophysiology Laboratory Devices
Atrioventricular Nodal Reentry Tachycardia (AVNRT)
Wolff-Parkinson-White Syndrome (WPW)
Hospitals & Cardiac Centers
Ambulatory Surgery Centers
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year – 2017, 2018
Base year – 2019
Forecast period – 2020 to 2027
Target Audience of the Global Electrophysiology Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Value-Added Resellers (VARs)
Third-party knowledge providers
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