Asia-Pacific Electrophysiology - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts (2024 - 2029)

The Asia-Pacific Electrophysiology Market size is estimated at USD 1.9 billion in 2024, and is expected to reach USD 3.16 billion by 2029, growing at a CAGR of 10.82% during the forecast period (2024-2029).

The COVID-19 pandemic has had a substantial impact on the Asia-Pacific electrophysiology market initially. Most electrophysiology activities have been significantly reduced to accommodate the healthcare demands of the pandemic. For instance, according to the national center for biotechnology information (NCBI), in an article titled "Impact of COVID-19 pandemic on catheter ablation in China: A spatiotemporal analysis," published in 2022, catheter ablation increased remarkably from around 100,019 in 2020 to 125,006 in 2021. The catheter experienced a substantial decline during the early phase of the COVID-19 pandemic and then gradually returned to pre-COVID-19 levels. Thus, the COVID-19 outbreak affected the market's growth adversely in its preliminary phase. However, the market is expected to gain traction due to the significant increase in electrophysiology activities.

Further, the increasing prevalence of targeted diseases and technological advancements in the field of electrophysiology are among the major factors driving the growth of the studied market. For instance, according to the National Library for Biotechnology Information, in an article titled "Cardiac electrophysiology in India: Academic publications in the last decade and the way forward," in 2021, it has been stated that during the past twenty-five years, the field of cardiac electrophysiology witnessed a steady rise, in parallel to the developments happening all around the world. Thereby, due to such factors, the market is expected to have significant growth during the forecast period.

Additionally, according to the Organisation for Economic Cooperation and Development (OECD), in an article titled "Health at a Glance: Asia/Pacific 2022," cardiovascular disease (CVD) is the leading cause of death in Asia-Pacific. Thereby, a high prevalence of heart diseases may elevate the need for electrophysiology.

Moreover, in 2021, Stereotaxis and Shanghai Microport EP Medtech Co., Ltd. mentioned that they have collaborated to advance technology innovation and commercial adoption of robotics in electrophysiology in China. The agreement brings together MicroPort EP's commercial and product leadership in China's electrophysiology market with Stereotaxis advanced Robotic Magnetic Navigation technology. Thereby, such product expansions and collaborations is elevating the growth og the electrophysiology market within the region.

Therefore, owing to the aforementioned factors the studied market is anticipated to witness growth over the analysis period. However, the lack of skilled professionals is likely to impede market growth.

Asia-Pacific Electrophysiology Market Trends

Atrial Fibrillation Expected to Hold Significant Market Share

Atrial fibrillation (AF) is a common abnormal heart rhythm that occurs when electrical impulses fire off from different places in the atria in a disorganized way. It often begins as short periods of abnormal beating, which become longer or continuous over time. High blood pressure and valvular heart disease are the most common modifiable risk factors for AF. Atrial fibrillation is one of the most common types of cardiac arrhythmia among adults.

For instance, it was stated by the NCBI in 2022 that atrial fibrillation (AF) is a global problem, with an increasing incidence and prevalence with an aging population. Similar to Western countries, the prevalence rates of AF will continuously increase in the following decades in the Asia Pacific region. Thereby, the prevalence of atrial fibrillation within the region is expected to elevate the segment's growth.

Additionally, according to an article titled "Atrial Fibrillation: Improving care pathways to meet the rising burden across the Asia-Pacific region," in 2022, the prevalence of Atrial fibrillation (AFib) in the Asia-Pacific region has increased in recent decades, and this is set to continue increasing. A similar source stated that, by 2050, around 49 million men and 23 million women in the Asia Pacific will carry a diagnosis of AF. Thereby, the increasing prevalence of atrial fibrillation is going to elevate the growth of the market due to higher need for electrophysiology.

Therefore, the atrial fibrillation segment is expected to witness significant growth over the forecast period due to the abovementioned factors.

China Expected to Witness Healthy Growth

China is expected to witness healthy growth in the market owing to factors such as the rise in the number of arrhythmia and heart failure cases in the country.

In addition, according to an article published by the Journal of Arrhythmia, titled "Asia Pacific Heart Rhythm Society (APHRS) practice guidance on atrial fibrillation screening," in 2021, atrial fibrillation is the most common sustained arrhythmia globally, and the prevalence increased by twenty times over a period of 11 years in China. Thereby, the prevalence of atrial fibrillation in China is elevating the growth of the market in the country.

According to the NCBI, in an article titled "Cardiovascular Disease Mortality and Potential Risk Factor in China: A Multi-Dimensional Assessment by a Grey Relational Approach," in 2022, cardiovascular disease was the leading cause of death globally, and China represented 40% of deaths due to cardiovascular diseases. Thereby, there is a higher need for various diagnostics in order to get cardiovascular diseases identified. This may elevate the growth of the market.

Asia-Pacific Electrophysiology Industry Overview

The Asia-Pacific electrophysiology market is highly competitive in nature due to the presence of several companies operating globally and regionally. The competitive landscape section of the report includes an analysis of some international and local companies that hold significant market shares and are well known, including Abbott Laboratories, Boston Scientific Corporation, and Medtronic.

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