The market for electrophysiology devices was valued at USD 5.10 billion in 2019 and is anticipated to grow to USD 9.71 billion by 2027, with a CAGR of 10.8%. Aetherial and ventricular fibrillation, tachycardia, and other conditions that have an impact on the heart are mostly diagnosed and treated using electrophysiology devices. Healthcare professionals use a variety of tools based on the electrophysiology technique to identify and treat these conditions, including ablation and diagnostic catheters, mapping systems, etc.

Electrophysiology devices are used in the treatment of severe cardiovascular diseases. The high prevalence of heart-related disorders has created massive product demand across the world. Increasing the adoption of habits such as drink consumption and smoking will have a positive impact on market growth. The advent of technologically advanced electrophysiology devices has enabled enhanced operating efficiency in surgical procedures. Improving health reimbursement policies, coupled with the increasing investment in healthcare infrastructure will open up a huge potential for market growth. The growing prevalence of atrial fibrillation in several countries across the world has opened up a massive potential for market growth. Recent technological advancements have fuelled the demand for these devices.

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Industry Developments:

• April 2021- Medtronic plc received Breakthrough Device Designation for Emprint ablation catheter kit from U.S FDA. The device is yet to be approved in the U.S. The catheter can be used for minimally invasive treatment of malignant lesions in the lung.

Driving Factors

The demand for electrophysiology devices is rising as atrial fibrillation, supraventricular tachycardia, and other heart conditions become more common. For instance, the CDC estimates that 0.5% of the world's population has atrial fibrillation. Additionally, the condition affects about 2.0% of people under the age of 65, while it affected about 9.0% of people over the age of 65 globally in 2019.

Another dangerous condition, ventricular tachycardia, is thought to be the cause of 300,000 fatalities annually in the United States alone. Thus, one of the main factors driving the demand for these devices for diagnosis and monitoring is the rising prevalence of cardiovascular disorders. Nearly half of the American adults, according to the American Heart Association, have cardiovascular disease. Additionally, atrial fibrillation (AF), which currently affects more than 16 million people in Asia Pacific, is expected to affect 72 million people by the year 2050, according to a report released by Biosense Webster Inc., a subsidiary of Johnson & Johnson Services.

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Increasing Prevalence of Heart Failure to Aid Growth of the Market in North America

Among all regions, North America is projected to emerge dominant in the coming years. The increasing heart failure rates in several countries across this region, coupled with the increasing adoption of unhealthy lifestyle habits will aid the growth of the market in this region. The market in Europe will witness significant growth, owing to the high prevalence of atrial fibrillation in countries such as Germany, Spain, and Italy will contribute to the growth of the market in Europe.