Market Research Report
Electrophysiology Catheter Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Product Type ; Application (Diagnosis and Monitoring, Treatment of Cardiac Arrhythmias
|Electrophysiology Catheter Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Product Type ; Application (Diagnosis and Monitoring, Treatment of Cardiac Arrhythmias|
Published: November 30, 2021
The Insight Partners
Content info: 251 Pages
Delivery time: 1-2 business days
The global electrophysiology catheter market is expected to reach US$ 7,288.50 million by 2028 from US$ 4,133.18 million in 2021, it is estimated to grow at a CAGR of 8.4% from 2021 to 2028.
High prevalence of cardiovascular disorders and technological advancement fuel the global electrophysiology catheters market's growth. However, high cost of electrophysiology catheters is expected to restrain the market growth during the forecast period.
During EP studies in patients with conduction disturbances, supraventricular, or ventricular arrhythmias, electrophysiology catheters are inserted into the heart for diagnostic or therapeutic purposes. Although EP catheters are nominally single-use devices, they are not prohibited from being reused in numerous countries, and reprocessed EP materials are widely used around the world. EP catheters are often high-cost medical devices that are utilised in large quantities. Their designs, on the other hand, are rather straightforward, especially when it comes to diagnostic catheters.
Electrophysiology catheters are mainly associated with cardiac ablation procedures. These procedures have been proposed to improve outcomes among patients suffering from heart failure/cardiac arrhythmia or receiving appropriate treatment, as they are associated with a significantly lower hospitalization and death rate and proven to be the right medical therapy for atrial fibrillation. The Massachusetts Medical Society report states that catheter ablation procedures result in decreasing death rates from any cause, lower hospital admission rates for heart failure, reducing the burden of atrial fibrillation, and improving lives among patient groups.
As per the NCBI report, cardiac catheterization (CC) is a standard procedure with more than a million performed annually in the US due to the high prevalence of cardiovascular diseases (CVDs) among US citizens. The increasing number of cardiac catheterization facilities is aiding the global electrophysiology catheters market. Such availability of cardiac services promotes the use of catheterization procedures irrespective of clinical indications. For example, the NCBI's new data from latest report states that latest trends in critical cardiac catheterization includes three-dimensional printing, holography technique, and stereoscopic imaging are utilized for the interventional procedure. This has resulted in significant role in patient management that is anticipated to boost the growth of the market during the forecast period.
Based on end user, the global electrophysiology catheter market is segmented into hospitals, ambulatory surgical centers, and cardiac catheterization labs. The hospitals segment held the largest share of the market, and the same segment is anticipated to register the highest CAGR of 8.7% in the market during the forecast period.
A few of the major primary and secondary sources referred to while preparing the report on the electrophysiology catheter market are the American Journal of Cardiology, American Heart Association, Inc., and the National Center for Biotechnology Information (NCBI).
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