Electrophysiology Devices Market Trends

The global electrophysiology devices market size was estimated at USD 10.07 billion in 2023 and is expected to grow at a CAGR of 15.1% from 2024 to 2030. Increasing use of electrophysiology (EP) tests in the treatment and diagnosis of heart diseases, such as atrial fibrillation, growing demand for devices for cardiac rhythm management for constant monitoring, and increasing application of these devices in out-of-hospital settings are propelling the industry growth. The prevalence of heart failure, cardiac arrest, and atrial fibrillation among millennials is rising due to sedentary lifestyles, smoking, excessive alcohol consumption, and others. According to the CDC, approximately 12.1 million Americans will be suffering from atrial fibrillation by 2030.

The growing number of catheter ablation procedures is expected to positively impact the electrophysiology devices market. As the number of ablation procedures rises, a direct increase in demand for ancillary products is observed. Furthermore, electrophysiology devices include electrophysiology (EP) devices that enhance manoeuvrability for navigating complex anatomies, provide greater flexibility for reaching targeted areas, improve compatibility, and enhance visualization capability through integrated imaging capabilities. According to an article published by Elsevier Inc. in March 2023, the annual rate of cardiac electrophysiology procedures increased from 817.9 in 2013 to 1,089.68 per 100,000 beneficiaries in 2019 within the U.S.

Gather more insights about the market drivers, restrains and growth of the Global Electrophysiology Devices Market

Device Type Insights

The ablation catheters segment dominated the market with a revenue share of 45.6% in 2023 and is expected to grow at the fastest CAGR over the forecast period. An ablation catheter is used to control irregular heartbeats that cannot be treated with medication. The ablation catheter segment comprises radiofrequency (RF) ablation, cryoablation, and pulse field ablation. Growing heart failure and arrhythmia incidences, awareness regarding the electrophysiology procedures’ reliability, advancement in EP technologies, and increasing minimally invasive procedures are factors responsible for the segment's dominance. 

Indication Insights

The atrial fibrillation segment dominated the market in 2023 and accounted for the maximum revenue share of 62.2%. It is the most common type of arrhythmia associated with a high risk of stroke and blood clotting. According to the British Heart Association, in 2022, approximately 1.5 million of the UK population suffer from atrial fibrillation. In addition, an expected 270,000 individuals aged 65 years and above have undiagnosed atrial fibrillation in the country. The high prevalence of the disease is responsible for the prominent share of the segment.

End-use Insights

The inpatient facility segment accounted for the highest share of 81.7% of the global revenue in 2023. The adoption of technologically advanced cardiac rhythm management and EP systems by interventional cardiologists and the rising burden of cardiovascular disease (CVD) is responsible for the dominant share of the segment. 

Regional Insights

North America electrophysiology (EP) devices market dominated and accounted for 48.3% of the total market share in 2023. The rising incidence of cardiovascular disease, advanced healthcare infrastructure, and the presence of key players are the major drivers of the growth in this region. In addition, the increasing number of patients undergoing surgeries and the rising awareness about minimally invasive surgeries are expected to propel market growth in North America.

Key Electrophysiology Devices Company Insights

Leading companies in the EP devices market are enhancing their offerings and incorporating new technologies to expand their customer reach, secure a greater market share, and diversify their application range. For example, Medtronic announced the expansion of its product application line, Freezor and Freezor Xtra Cardiac Cryoablation Focal Catheters. These products were granted expanded FDA approval to treat atrioventricular nodal re-entrant tachycardia (AVNRT).

Key Electrophysiology Devices Companies:

The following are the leading companies in the electrophysiology devices market. These companies collectively hold the largest market share and dictate industry trends.

• Boston Scientific Corp.
• Medtronic
• Abbott
• Biosense Webster (Johnson & Johnson Services, Inc.)
• Biotronik
• General Electric Company
• Siemens Healthcare AG
• MicroPort Scientific Corporation
• Koninklijke Philips N.V.

Browse through Grand View Research's Medical Devices Industry Research Reports.

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Electrophysiology Devices Market Segmentation

Grand View Research has segmented the global electrophysiology devices market based on device type, indication, end-use, and region:

Electrophysiology Device Type Outlook (Revenue, USD Million, 2018 - 2030)

• Ablation Catheters

• Diagnostic Catheters
• Laboratory Devices
• Access Devices

Electrophysiology Devices Indication Outlook (Revenue, USD Million, 2018 - 2030)

• Atrial Fibrillation
• Non-Atrial Fibrillation

Electrophysiology Devices End-use Outlook (Revenue, USD Million, 2018 - 2030)

• Inpatient Facilities
• Outpatient Facilities
• Others

Electrophysiology Devices Regional Outlook (Revenue, USD Million, 2018 - 2030)

• North America
  • U.S.
  • Canada
• Europe
  • UK
  • Germany
  • France
  • Italy
  • Spain
  • Denmark
  • Sweden
  • Norway
• Asia Pacific
  • Japan
  • China
  • India
  • Australia
  • South Korea
  • Thailand
• Latin America
  • Mexico
  • Brazil
  • Argentina
• Middle East & Africa (MEA)
  • South Africa
  • Saudi Araba
  • UAE
  • Kuwait

Order a free sample PDF of the Electrophysiology Devices Market Intelligence Study, published by Grand View Research.

Recent Developments

• In August 2023, Biosense Webster received approval for various atrial fibrillation ablation products that can be utilized in a workflow without fluoroscopy during catheter ablation procedures.
• In May 2023, Abbott obtained approval from the U.S. Food and Drug Administration (FDA) for TactiFlex Ablation Catheter, Sensor Enabled, the first ablation catheter with contact force technology and a flexible tip. The TactiFlex catheter can treat atrial fibrillation (AFib) with reduced procedure times and better safety than previous-generation catheters.
• In February 2022, Boston Scientific Corp. acquired Baylis Medical Company Inc., specializing in advanced transseptal solutions for the left side of the heart in catheter-based procedures.

About Grand View Research

Grand View Research is a full-time market research and consulting company registered in San Francisco, California. The company fully offers market reports, both customized and syndicates, based on intense data analysis. It also offers consulting services to business communities and academic institutions and helps them understand the global and business scenario to a significant extent. The company operates across multitude of domains such as Chemicals, Materials, Food and Beverages, Consumer Goods, Healthcare, and Information Technology to offer consulting services.

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