Hospitals and Cardiac Centers Boost Demand for Electrophysiology Solutions

In 2021, the global electrophysiology market was valued at approximately USD 7,076.1 million, with a projected compound annual growth rate (CAGR) of 10.6% from 2021 to 2030. By 2030, the market is expected to reach USD 17,482.7 million, according to P&S Intelligence.

The growth of the electrophysiology market is driven by advancements in technology, the growing demand for ablation and diagnostic catheters, and the increasing number of cardiac ablation procedures.

North America led the market in 2021 and is forecasted to maintain its leadership, fueled by the growing number of approvals for electrophysiology devices, the rising prevalence of cardiac arrhythmias, the demand for cardiac ablation procedures, and the presence of major industry players.

However, the Asia-Pacific (APAC) region is expected to grow at the highest CAGR of 11.0% during the forecast period. This growth is attributed to the rising incidence of atrial fibrillation, technological advancements, increased healthcare spending, and the growing elderly population.

In terms of product type, ablation catheters held the largest market share in 2021, and are expected to grow at a CAGR of 10.9%. Ablation is a minimally invasive procedure that destroys faulty electrical pathways in the heart using catheters. These devices are commonly used to remove abnormal heart tissue that causes arrhythmias, with cryoablation and radiofrequency technologies being the most frequently utilized.

Hospitals and cardiac centers dominated the market in 2021, and this segment is expected to grow at a CAGR of 10.6%. This is due to the increasing use of electrophysiology in hospitals and Cath labs, and the rising number of ablation procedures globally.

In the APAC region, China held the largest market share in 2021, mainly due to the increasing prevalence of obesity, heart disease, and other chronic conditions. Changing eating habits, lifestyle factors, and the rising consumption of alcohol and tobacco are also contributing factors. Additionally, the aging population, less stringent regulations, increased healthcare spending, and technological advancements are boosting the demand for electrophysiology solutions in the country.

In conclusion, technological advancements, the rising demand for ablation and diagnostic catheters, and the growing number of cardiac ablation procedures are key drivers of the electrophysiology market.