North America Electrophysiology Market – Industry Analysis by 2027

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North America Electrophysiology Market to reach
3.5 Bn up to 2027 Graphical Research
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North America Electrophysiology Market Size is
Estimated To Exceed USD 3.5 Billion By
2027. Novel product launch and growing incidence
of several cardiac arrhythmias is set to
gradually stimulate electrophysiology market
growth. The COVID-19 pandemic has significantly
disrupted the healthcare industry up to great
extent. It has impacted the business sales of
several firms and subsequently the revenue
generated through elective and non-emergent
procedures. With such impact, the number of
electrophysiology procedures conducted in 2020
witnessed considerable downfall and has thereby
negatively influenced the overall North America
electrophysiology market size. However, with
growing incidence of heart rhythm disorders and
subsequent deterioration in prevalence of
coronavirus infection, the industry is forecasted
to recover and gradually grow in the foreseeable
future to meet the unmet market demand. Risk of
infection transmission has resulted into deferral
of electrophysiology (EP) procedures among other
cardiac rhythm management surgeries. Thus,
hospitals and other healthcare settings cancelled
or postponed EP procedures to culminate the
potential risk of hospital acquired infections,
thereby leading to reduction in the total
revenues in 2020. However, new product approvals
and introductions by the industry players will
assist electrophysiologists in better procedural
outcomes. Few companies including Stereotaxis are
focusing on new product development in robotic
space and thus, electrophysiology industry will
foresee significant growth in the forthcoming
years.
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EP laboratory devices segment held over USD 190
million revenue in 2020. Innovations in mapping
and navigation systems will drive the segmental
revenue size in future. For instance, Stereotaxis
received 510(k) from the U.S. FDA for Genesis RMN
System in March 2020. It is aimed at providing
robotic navigation to magnetic ablation catheters
for treatment of cardiac arrhythmias. Such
advancements coupled with increasing burden of
cardiovascular diseases will boost the North
America electrophysiology market
growth. Ventricular tachycardia segment held
over 12 revenue in 2020. Ventricular tachycardia
(VT) results in over 300,000 mortalities each
year in United States. VT is one of the top
factors leading to sudden cardiac deaths, and
hence immediate medical attention is of high
importance for such patients. Thus, unlike atrial
fibrillation, ventricular tachycardia saw a
lesser decline in procedure volume in 2020. In
addition, with steady increase in elective
surgeries in the coming period, the segment will
experience growth in the forecast period.
Catheterization laboratories segment held over
USD 150 million revenue size in 2020. Healthcare
settings cut down the non-emergent procedures
during the COVID-19 outbreak however certain
fatal cardiovascular conditions that lead to
death have been crucial for emergent diagnosis
and treatment. Hence, catheterization
laboratories among others provided necessary
medical intervention to cardiac patients along
with adoption of effective safety protocol. The
segment will foresee substantial growth in the
foreseeable future with gradual decline in
COVID-19 prevalence and relaxation of guidelines.
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Canada electrophysiology market is estimated to
foresee 10.7 CAGR during forecast period.
Commendable progress in interventional and
electrophysiological procedures in the country
are attributable to momentous market growth.
Canada has significant pool of skilled
cardiologists and advanced equipment in hospitals
as well as catheterization laboratories that
attracts customer base. Furthermore, with ever
growing pervasiveness of cardiac arrhythmias, the
Canada electrophysiology market is projected to
expand in the analysis timeframe. Notable
players in North America electrophysiology market
are Abbott Laboratories, Biotronik SE Co KG,
Boston Scientific, Medtronic and Johnson and
Johnson among others. Firms are emphasizing on
development and launch of several
electrophysiology products to broaden their
business portfolio. In December 2020, Baylis
Medical introduced EPstar Electrophysiology
Catheters in Canada that is aimed at assisting
electrophysiologists to access previously
unreachable parts of the heart for mapping of the
procedure.
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Segmentation of North America Electrophysiology
Market North America Electrophysiology Market,
By Product, 2016-2027 (USD Million) EP Ablation
Catheters Radiofrequency (RF) Cryoablation Laser O
thers EP Diagnostic Catheters Conventional Advance
d Ultrasound EP Laboratory Devices Mapping
Systems Recording Systems Others  
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North America 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 North America Electrophysiology
Market, By End-use, 2016-2027 (USD
Million) Hospitals Catheterization
Laboratories/EP laboratories Ambulatory Surgical
Centers Others
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