Europe Electrophysiology Market to reach $3.4 Bn by 2027

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Europe Electrophysiology Market Industry Analysis
Report and Regional Outlook by 2027 Graphical
Research
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Europe Electrophysiology Market Size is 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.
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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.
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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.
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Segmentation of Europe Electrophysiology
Market Europe Electrophysiology Market, By
Indication, 2016-2027 (USD Million) Atrial
Fibrillation Ventricular Tachycardia Atrial
Tachycardia Atrial Flutter WOLFF-Parkinson-White
(WPW) Syndrome Atrioventricular Nodal Reentry
Tachycardia Europe Electrophysiology Market, By
End-use, 2016 2027 (USD Million) Hospitals Cathe
terization Laboratories Ambulatory Surgical
Centers Others  
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