Published Date: 2021-01-11
Request a sample
According to the Graphical Research new growth forecast report titled “Europe Electrophysiology Market Size By Product (EP Ablation Catheters {Radiofrequency, Cryoablation, Laser}, EP Diagnostic Catheters {Conventional, Advanced, Ultrasound}, EP Laboratory Devices {Mapping Systems, Recording Systems}), By Indication (Atrial Fibrillation, Ventricular Tachycardia, Atrial Tachycardia, Atrial Flutter, WOLFF-Parkinson-White (WPW) Syndrome, Atrioventricular Nodal Reentry Tachycardia), By End-use (Hospitals, Catherization Laboratories, Ambulatory Surgical Centers), Industry Analysis Report, Regional Outlook (Germany, UK, France, Spain, Italy, Russia, Ukraine, Poland, Switzerland, Belgium, Greece, Czech Republic, Netherlands, Sweden)”, Estimated To Surpass USD 3.4 Billion By 2027
A Significant increase in number of patients with cardiac diseases, leading to high risk of heart stroke will influence the electrophysiology revenue growth during forecast period.
COVID-19 has impacted the Europe electrophysiology market size during the pandemic period due to reduction procedural volume. Emergence of viral infection hampered product sales of several firms, thereby resulting in declined revenue growth. However, constant organizational efforts and relatively reduced prevalence of COVID-19 in some countries is expected to boost the industry growth over forecast period.
The development of advanced electrophysiology devices drives product demand in electrophysiology procedures during projected period. Introduction of leadless EP devices reduces chances of infection and further complications. Furthermore, miniaturized monitoring systems, implantable devices and minimally invasive procedures will stimulate the Europe electrophysiology market growth. The market players continuously focusing on development of new innovative technologies to eliminate procedural complications and enhance efficiency. This has resulted in treatment preference, thereby positively impacting the market growth in forthcoming years.
Growing prevalence of atrial fibrillation and other cardiac conditions leading to high risk of heart stroke will propel the market growth. As per the European Society of Cardiology, patients with atrial fibrillation are at higher risk of stroke and about 20% to 30% of strokes are due to atrial fibrillation. With increasing patient admissions associated with heart conditions, the market will witness lucrative growth in the upcoming period. Moreover, adoption of inorganic strategies such as collaborations and business expansion by firms to cater to striking demand will further stimulate the growth potential.
However, increased investment in development of electrophysiology devices and unforeseen situations including COVID-19 pandemic will hamper business growth upto some extent.
EP diagnostic catheters segment constituted about 35% revenue share in 2020 and is projected to foresee considerable growth during analysis timeframe. Increasing demand for intra-cardiac sensing, mapping and recording due to growing disease burden will offer substantial growth opportunities to the segment. Furthermore, product advancement including the steerable curve electrophysiology diagnostic catheters will drive the segment growth due to adoption of novel technology in emerging countries.
Ventricular tachycardia segment is expected to witness over 13.5% CAGR during forecast timeframe. Ventricular tachycardia is among the major causes of cardiac failure, thereby increasing the hospitalization rate. There were about 15 million patients reported with heart failure in Europe. The adoption of innovative and advanced devices during treatment of ventricular tachycardia, including EP catheters will foster the segmental growth in the future.
Catheterization laboratories segment held substantial revenue share in 2020 and it is anticipated witness 13.3% CAGR over the forecast period. The segment growth is primarily attributed to increasing catherization procedures. High demand for cardiac ablation and diagnosis will impel the catheterization demand over projected timeframe. Integration of advanced devices and infrastructure development will drive patient preference and further impel the number of procedures in laboratories. Hence, owing to the aforementioned factors the segment will grow momentously in the upcoming period.
UK electrophysiology market is forecasted to grow at 12.2% CAGR during forecast timeline. Growing geriatric population, demand for advanced devices and increasing disease burden due to changing lifestyle are some of the growth driving factors. For instance, over 1 million people in the country were diagnosed with atrial fibrillation. Atrial fibrillation contributes to about 1 in 5 strokes in the UK. With increasing population suffering through atrial fibrillation and thus leading to increased procedural demand, the Europe electrophysiology market will witness high product demand over projection period.
Major market players in Europe electrophysiology market are Abbott Laboratories, Inc., Boston Scientific Corporation, GE Healthcare, Johnson and Johnson and Medtronic plc, among others. These market players are undertaking various business development strategies such as product innovation, mergers and acquisition acquisitions to set their footprint in the region. For instance, in December 2020, Acutus Medical announced the launch of AcQBlate Force Sensing Ablation System in Europe after receival of CE Mark for AcQBlate FORCE ablation catheter. Such new product launches will assist the organization in its business expansion.
Europe electrophysiology market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD million from 2016 to 2027, for the following segments:
Europe Electrophysiology Market, By Product, 2016-2027 (USD Million)
Europe Electrophysiology Market, By Indication, 2016-2027 (USD Million)
Europe Electrophysiology Market, By End-use, 2016 – 2027 (USD Million)
The above information is provided for the following region and countries:
The great explorer of the truth, the master-builder of human happiness no one rejects dislikes avoids pleasure itself because it is pleasure but because know who do not those how to pursue pleasures rationally encounter consequences that are extremely painful desires to obtain.
Read More