Global Electrophysiology Market Growth By Top Leading Players | Abbott Laboratories; Medtronic plc

The Global Electrophysiology Market valued at $6.7 billion (2021) is set to witness a growth rate of 12% in the next 5 years.
 
BRUSSELS - Jan. 6, 2023 - PRLog -- Electrophysiology (EP) is a test used to diagnose abnormal heart rhythm or arrhythmias. It helps in evaluating the electrical activity of the heart by inserting a catheter into blood vessels that enter heart and then measuring the electrical activity through wire electrodes. EP ablation catheters, EP laboratory devices, EP diagnostic catheters, and EP access devices are just a few examples of the various types of EP products.

The global electrophysiology market is being driven by a number of key factors, including an increase in the volume of cardiac ablation procedures, a quick increase in the geriatric population to target diseases, a growing number of electrophysiology labs, the development of technologically advanced products by market players, and huge investments and funding from government bodies and market players.

New product development and commercialization to fuel the Electrophysiology Market demand
Technological advancements in terms of new product development tend to provide competitive edge to manufacturers and therefore, major players are continuously focusing on investing in research activities for new product development and increasing their geographic reach to strengthen their positions in this high growth market.

Below is a list of some recent developments:
  • In May 2022, CathVision received the US Food and Drug Administration (FDA) clearance for its ECGenius electrophysiology recording system offering high-fidelity, low-noise, cardiac electrograms, which helps electrophysiologists improve diagnosis and treatment of complex atrial arrhythmias such as atrial fibrillation (AF)
  • In February 2022, Medtronic received the US FDA expanded approval for its Freezor and Freezor Xtra Cardiac Cryoablation Focal Catheters for the treatment of pediatric atrioventricular nodal reentrant tachycardia (AVNRT)
  • In January 2022, Abbott received the US FDA clearance for its EnSite X EP System featuring EnSite Omnipolar Technology (OT), designed for the treatment of cardiac arrhythmias efficiently by creating three-dimensional maps of the heart
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Growing number of electrophysiology labs to boost adoption the Adoption of Electrophysiology Market

Increasing prevalence of atrial fibrillation and other target diseases drives the adoption of electrophysiology procedures across the globe. Both public and private organizations are continuously concentrating on creating EP labs and growing their services to provide patients with advanced treatment options.

Competitive Landscape Analysis of Electrophysiology Market
The global electrophysiology market is marked by the presence of key players such as Abbott Laboratories (US); Medtronic plc (Ireland); Boston Scientific Corporation (US); BIOTRONIK SE & Co. KG (Germany); Johnson & Johnson (US); and others.

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