North America Is Dominating Electrophysiology Industry

NEW YORK - May 30, 2023 - PRLog -- In 2021, the electrophysiology market was worth around USD 7,076.1 million, and it is projected to advance at a 10.6% CAGR from 2021 to 2030, hitting USD 17,482.7 million by 2030, according to P&S Intelligence.

This growth can be credited to the rising enhancements in technology, the increasing requirement for ablation and diagnostic tubes, and the snowballing count of cardiac ablation procedures.

In 2021, North America dominated the industry and is projected to continue with the dominance in the future as well, credited to the rising occurrence of the increasing count of sanctions for electrophysiology devices, cardiac arrhythmia growing requirement for cardiac ablation measures, and the existence of main companies, in the continent.

Nevertheless, the APAC industry is projected to develop at the highest CAGR, of 11.0%, during the forecast period. This can be credited to the surge in the incidence of atrial fibrillation, progresses in electrophysiology technology, increase in healthcare spending, and development in the elderly population.

In 2021, the ablation catheters category had the highest revenue share and is estimated to grow at a substantial CAGR, of 10.9%, in the coming few years, on the basis of product type. Ablation is a minimally invasive treatment in which flawed electrical ways in the heart are demolished by utilizing catheters.

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The device can be utilized to eliminate abnormal heart tissue that reasons abnormal heart rhythms (cardiac arrhythmia). The most commonly utilized ablation catheters are on the basis of cryoablation and radiofrequency technologies, and their utilization is likely to grow intensely as technology improves.

In 2021, the Hospitals and cardiac centers category dominated the market with the largest market share, and it is projected to experience a CAGR of 10.6% in the coming few years. Furthermore, this is because of the increase in the utilization of electrophysiology and Cath labs and the surge in the count of ablation measures in private and government hospitals, throughout the globe.

Hence, the rising enhancements in technology, the increasing requirement for ablation and diagnostic tubes, and the snowballing count of cardiac ablation procedures are major factors propelling the electrophysiology market.