Electrophysiology Ablation Catheters Market Size, Share, Industry, Forecast and outlook (2024-2031)

Global Electrophysiology Ablation Catheters Market is segmented By Indication (Atrial Fibrillation, Cardiac Arrhythmia, Atrial Fibrillation, Atrial Flutter, Tachycardia, Other Indications), By Product Type (Сrуоаblаtіоn Еlectrophysiology Саthеtеrѕ, Rаdіоfrеquеnсу Еlectrophysiology Аblаtіоn Саthеtеrѕ, Lаѕеr Аblаtіоn Ѕуѕtеmѕ, Nаvіgаtіоnаl Аdvаnсеd Марріng Ассеѕѕоrіеѕ, Місrоwаvе Аblаtіоn), By End-User (Hospitals, Ambulatory Surgical Centers, Cardiac Centers), By Region (North America, Europe, South America, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2023-2030

Electrophysiology Ablation Catheters Market Overview

The global electrophysiology ablation catheters market is estimated to reach at high CAGR during the forecast period (2023-2030). 179 pages report analyses the Electrophysiology Ablation Catheters market share and size, recent trends and forecast. Electrophysiology Ablation Catheters usage in removing abnormal heart tissues is on the rise. Demand from (pharmaceuticals & commercial infrastructure) in ‘Asia Pacific’ is booming. Competitive rivalry intensifies with Medtronic Plc., CardioFocus Inc., Abbott Laboratories Inc., MicroPort Scientific Corporation, BIOTRONIK SE and Co. KG, Johnson and Johnson, Lepu Medical Tech Co. Ltd. and others operating in the market

Electrophysiology is a biomedical field to test the heart's electrical activity and diagnose arrhythmia or abnormal heart rhythms. Ablation catheters are useful in removing abnormal heart tissues that may result in irregular heartbeats.

Electrophysiology Ablation Catheters Market Summary

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Market Dynamics

The electrophysiology ablation catheters market growth is driven by the increasing prevalence of cardiac issues, atrial fibrillation, and arrhythmia, technological advancements in the field of electrophysiology, and increasing aging population.

Increasing prevalence of cardiac issues, is expected to drive the growth in the forecast period

Europe and North America regions contribute 1-2% of the total healthcare expenditure to heart failure. For example, in 2017, around 6.5 million people were diagnosed with heart failure in the United States. Moreover, according to the American Heart Association, this number is expected to increase to 8 million by 2030. Since electrophysiology devices have a major application in detecting heart failure rates, the increasing number of cardiac failures is expected to drive the market over the forecast period.

Increasing incidence of target diseases and procedures, is expected to drive the growth in the forecast period

Atrial Fibrillation is the most common arrhythmia diagnosed in clinical practices, affecting over 886,000 new people each year in Europe. According to the 2018 Report on Burden of Atrial Fibrillation, by 2030, the number of people with AF is expected to increase up to 70% of the population; by 2050, the Europe region is expected to have the highest number of patients AF. Moreover, as per the CDC, in the US, AF affected between about 2.7 million to 6.1 million people in 2012; this is estimated to rise to 12.1 million by 2030. Further, according to a study published in the Medical Journal of Australia in August 2015, the number of AF patients aged above 55 years in Australia was 328,562 in June 2014 and is estimated to reach over 600,000 cases by 2034. The rising incidence of these diseases will correspondingly drive the demand for EP procedures, making it a major growth driver for the electrophysiology ablation catheters market.

High cost of electrophysiology products and inadequate reimbursement is likely to hamper the market growth

Currently, the electrophysiology ablation catheters market is extremely competitive in pricing due to the competitive intensity among existing market players. Most of these products are premium-priced products, including cardiac 3D mapping systems and EP recording systems. Due to the high capital, training, and maintenance costs, EP procedures are generally expensive. For example, the average cost of a catheter ablation procedure ranges from USD 4,000–6,500 and this, coupled with the inadequate reimbursement policy for these products in several countries, makes them unaffordable for a large section of the target patient population.

Industry Analysis

COVID-19 Impact Analysis

The impact of the coronavirus pandemic and the lockdown it triggered is visible in various industries, including the electrophysiology ablation catheters market. Enforcement of new guidelines and regulations is hampering the growth of this industry. Moreover, limited access to clinics, social distancing, the lockdown of the population, which results in a slow-down in patient flow and referrals, has also impacted the market growth.

Segment Analysis

The cryoablation electrophysiology catheters segment is expected to hold largest share in this market segment

Ablation catheters are useful in removing abnormal heart tissues that may result in irregular heartbeats. These devices work based on ablation, a minimally invasive procedure that employs catheters to demolish the defective electrical pathways from the heart. Cryoablation catheters are the most commonly used ablation catheters and are expected to hold significant market shares, aided by related advancements in technology. Cryoablation uses extremely cold temperatures for making scars. Sometimes, laser light energy is also used. In addition, various market players are taking initiatives to increase their market presence and strengthen product portfolios; they are also engaging in clinical studies to evaluate the safety of their products. Such initiatives are further supporting market growth.

For instance, in May 2019, Koninklijke Philips N.V. (Netherlands) entered into a partnership with Medtronic (Ireland). Philips KODEX-EPD dielectric imaging and navigation system, dielectric imaging sensors, clinical software and services were expected to be leveraged to support cryoablation procedures performed using the Medtronic Arctic Front Advance cryoablation technology.

The atrial fibrillation segment is expected to hold largest share in this market segment

Atrial Fibrillation is the most common arrhythmia diagnosed in clinical practices, affecting over 886,000 new people each year in Europe. According to the 2018 Report on Burden of Atrial Fibrillation, by 2030, the number of people with AF is expected to increase up to 70% of the population; by 2050. For instance, BioSig Technologies, Annual Report, 2019, global ablation procedure numbers are predicted to grow from 973,220 in 2017 to 1,455,000 per year by 2022; within this category, complex ablations (AF and VT) is expected to increase by 13.5% annually from 440,629 in 2017 to 830,390 in 2022.

The hospitals & cardiac centers segment is expected to hold largest share in this market segment

The hospitals & cardiac centers held the largest share in the electrophysiology ablation catheters market. This is mainly owing to increasing number of patients suffering from cardiac issues which are treated in hospitals equipped with advanced infrastructure and adequate facilities. Moreover, growing number of hospitals along with adequate reimbursement policies is contributing to the growth of this segment. For instance, In a study published in April 2018, daily short-term rhythm strip recordings identified an increase of 13.0% in the elderly population hospitalized for atrial fibrillation, leading to an overall prevalence of 46.0% in hospitalized patients.

Geographical Analysis

North America region holds the largest market share of global electrophysiology ablation catheters market

North America dominated the market due to the demand for ablation catheters and EP catheters is estimated to be the highest in the US and Canada, compared to other parts of the world. This can be attributed to the rising prevalence of Heart Failure (HF), cardiac arrest cases, and cardiac arrhythmia in this region, majorly due to an unhealthy lifestyle, smoking, and alcohol consumption. The presence of well-stuctured healthcare system and favorable reimbursement policies are also expected to drive regional growth of the market.

Competitive Landscape

The global electrophysiology ablation catheters market is highly competitive with presence of global companies.  Some of the key players which are contributing to the growth of the market include Medtronic Plc., CardioFocus Inc., Abbott Laboratories Inc., MicroPort Scientific Corporation, BIOTRONIK SE and Co. KG, Johnson and Johnson, Lepu Medical Tech Co. Ltd., Boston Scientific Corporation, and Hansen Medical, Inc, Lombard Medical Technologies Plc. The major players are adopting several growth strategies such as product launches, acquisitions, and collaborations, which are contributing to the growth of the market globally. For instance, in January 2019, Medtronic underwent an agreement to acquire a privately held medical device company named EPIX Therapeutics, which designs and manufactures a new temperature-controlled, catheter-based, cardiac ablation system for treating the patient with cardiac arrhythmias including atrial fibrillation (AF). With this acquisition, Medtronic will expand its cardiac ablation product portfolio for treating cardiac arrhythmias.

Electrophysiology Ablation Catheters Market Key Companies to Watch

Boston Scientific Corporation

Overview: The company was founded in 1979. It has headquarters in United States. It develops, manufactures, and markets minimally invasive medical devices. The Company's products are used in interventional cardiology, cardiac rhythm management, peripheral interventions, electrophysiology, neurovascular intervention, endoscopy, urology, gynecology, and neuromodulation. Globally the company has business in US, EMEA, Asia-Pacific, Latin America and Canada.

Product Portfolio: The company works through the segments MedSurg which includes Endoscopy, Urology and Pelvic health, Rhythm and Neuro, Cardiovascular, Specialty pharmaceuticals.

Key developments: In July 2018, Boston Scientific Corporation acquired a privately held firm named Cryterion Medical, Inc., developing a treatment for atrial fibrillation (AF) through its single-shot cryoablation platform. With this acquisition, Boston Scientific Corporation became the first company to have a product portfolio for radiofrequency (RF) and cryothermal single-shot, balloon-based ablation therapies.

The global electrophysiology ablation catheters market report would provide an access to an approx. 61 market data table, 56 figures and 200 pages.