The recent analytical report published by Markntel Advisors (a leading consulting, data analytics, and market research firm), Electrophysiology Market comprises a detailed study of critical and major aspects of market dynamics, i.e. market trends, size, forecasts, growth factors, challenges, and competitor landscape.

In-Depth Market Overview of Electrophysiology Industry (2023-2028):

According to the latest report, The Electrophysiology Market is projected to grow at a CAGR of around 10.5% during the forecast period, i.e., 2023-28. The report demonstrates the prominent factors propelling the exponential growth of the Electrophysiology industry.

Key Takeaways: Beneficial for Stakeholders and Clients:

• Historical Data: 2019-22
• Base Year: 2023
• Forecast Period: 2023-28
• CAGR (2023-2028): 10.5%

What are the major Driver the Electrophysiology industry?

The Transcending Burden of Cardiovascular Diseases Worldwide - An alarming rise in the number of cardiac arrhythmias has compelled innovations in the manufacturing of electrophysiology devices. According to WHO, around 17.9 million people succumb to Cardiovascular diseases (CVDs) every year, accounting for 32% of total deaths worldwide. Out of 5, four CVD deaths are due to strokes and heart attacks, with one-third of these deaths occurring in people under 70. Likewise, as per Canadian government health statistics, one out of twelve Canadians lives with heart disease. Backed by behavioral risk factors such as unhealthy diet, physical inactivity, and excess alcohol and tobacco consumption, the patient pool is expected to surge in the coming years, presenting the need for more effective electrophysiology devices. As a result, the market is expected to enthrall in the coming years.

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Electrophysiology Market Segmentation

The Electrophysiology Market analysis of Markntel Advisors explores the industry by emphasizing the growth parameters and categorizes including geographical segmentation, to offer a comprehensive understanding of the market dynamic. The further bifurcations are as follows:

• By Product
• Electrophysiology Laboratory Devices
• 3D Mapping Systems
• Electrophysiology Recording System
• Radio Frequency (RF) Ablation Systems
• Intracardiac Echocardiography (ICE) Ultrasound Imaging Systems
• Electrophysiology X-Ray Systems
• Electrophysiology Remote Magnetic and Robotic Navigation Systems
• Electrophysiology Ablation Catheters
• Cryoablation Electrophysiology Catheters
• Radiofrequency (RF) Ablation Catheters
• Microwave Ablation (MWA) Systems
• Laser Ablation Systems
• Electrophysiology Diagnostic Catheters
• Conventional Electrophysiology Diagnostic Catheters
• Advanced Electrophysiology Diagnostic Catheters
• Ultrasound Electrophysiology Diagnostic Catheters
• Access Devices
• Other Products
• By Indication Type
• Atrial Fibrillation
• Atrial Flutter        
• Atrioventricular Nodal Reentry Tachycardia (AVNRT)
• Wolff-Parkinson-White Syndrome (WPW)
• Other Indications
• By End User
• Hospitals & Cardiac Centers
• Ambulatory Surgery Centers
• By Region
• North America
• South America
• Europe
• The Middle East & Africa
• Asia-Pacific

As per the regional aspect, the Electrophysiology Market is expected to be dominated by North America by capturing the potential market share.

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Top Companies in the Electrophysiology Market

Abbott, Medtronic, Boston Scientific Corporation, Koninklijke Philips N.V., General Electric Company, Siemens Healthineers International AG, Stereotaxis Inc, Merit Medical Systems, APN Health LLC, Osypka Medical, Japan Lifeline Co Ltd, Johnson & Johnson, Biotronik, Microport Scientific Corporation, Cathrx Ltd., Others (Cook Medical, Teleflex Incorporated, etc.).

Recent Developments in the Global Electrophysiology Market

In May 2022, CathVision declared that ECGenius EP Recording System, a new high-fidelity and low-noise solution, has been given FDA approval. The device successfully diagnosed and treated complex atrial arrhythmias during tests.

In March 2022, The National Institute of Cardiology in Warsaw, Poland, used Stereotaxis to launch a robotic electrophysiology course. The program's goal is to teach doctors how to treat arrhythmias using the Genesis Robotic Magnetic Navigation System.

In January 2022, a deal was made for Medtronic PLC to buy the majority of Affera, Inc. The company produces equipment that aids in the treatment of cardiac arrhythmia. The acquisition, which aims to increase Medtronic's market share in the electrophysiology sector, shall be finalized by the first quarter of 2023.

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