ELECTROPHYSIOLOGY DEVICES MARKET ANALYSIS

Electrophysiology Devices Market Size and Trends

Global electrophysiology devices market is estimated to be valued at USD 9.70 Bn in 2024 and is expected to reach USD 22.54 Bn by 2031, exhibiting a compound annual growth rate (CAGR) of 12.8% from 2024 to 2031.

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Rising incidences of cardiac arrhythmias, growing geriatric population, technological advancements in electrophysiology such as remote magnetic navigation, 3D mapping systems, and robotic navigation are expected to drive growth of the electrophysiology devices market. ising awareness about early disease diagnosis and treatment and availability of reimbursements are further expected to boost demand for electrophysiology devices for diagnosis and treatment of cardiac arrhythmias. However, high cost of complex cardiac electrophysiology procedures and dearth of skilled physicians can hamper the market growth.

Increasing Prevalence of Cardiovascular Diseases

Global electrophysiology devices market growth is driven by rising prevalence of cardiovascular diseases around the world. Cardiovascular diseases have been increasing at an alarming rate over the past few decades due to changing lifestyle patterns and risk factors such as rising levels of obesity, lack of physical activity, stressful living and working conditions, and increasing consumption of tobacco, alcohol, and unhealthy foods. Heart diseases and disorders related to heart rhythm abnormalities are becoming more widespread in both developing and developed countries. Some of the key factors leading to the higher risk of cardiovascular diseases include growing levels of stress, aging populations, complex treatments prolonging lifespan, and genetic predispositions. Even in developing nations, lifestyle-related non-communicable diseases are rising sharply as people adopt western diets and consuming more refined carbs, sugar, unhealthy fats while leading sedentary lives with little physical activity. All these direct and indirect factors have contributed to a considerable increase in the number of people diagnosed with conditions such as atrial fibrillation, heart block, ventricular tachycardia, and atrial flutter. Electrophysiology procedures help to treat various types of cardiac arrhythmias using sophisticated mapping and ablation techniques. Thus, growing disease burden of cardiovascular illnesses boosts demand for electrophysiology devices.

Increasing adoption of organic growth strategies such as product launches by key market players is expected to drive the global electrophysiology devices market growth over the forecast period. For instance, in June 2021, Medtronic, a medical device company, launched Micra AV, a miniaturized, fully self-contained pacemaker that delivers advanced pacing technology to atrioventricular block patients through a minimally invasive approach.