Electrophysiology Market

Johnson & Johnson (US) and Abbott Laboratories (US) are leading players in Electrophysiology Market

The electrophysiology market is projected to reach USD 10.6 billion by 2025 from USD 6.8 billion in 2020, growing at a CAGR of 9.1% from 2020 to 2025. The growth of the global electrophysiology market can be attributed to factors such as technological advancements; new entrants in the market; growing investments, funds, and grants; and increasing incidence of target diseases and procedures. Emerging markets are also expected to offer high growth opportunities for players operating in this market. However, factors such as high cost of electrophysiology products and inadequate reimbursement, unfavorable healthcare reforms in the US, and cost-intensive requirement for clinical data for new product launches along with availability of alternative technologies are expected to restrain the growth of this market in the coming years. The reuse and reprocessing of devices and lack of skilled and experienced electrophysiologists are some of the challenges in this market. The growth of the market is also expected to slow temporarily during the forecast period due to the COVID-19 pandemic.

In 2019, the electrophysiology market was dominated by Johnson & Johnson (US), Abbott Laboratories (US), Medtronic (Ireland), Koninklijke Philips N.V. (Royal Philips) (Netherlands), GE Healthcare (US), and Boston Scientific (US). The players adopted key strategies, such as, new product launches, partnerships, acquisitions, agreements, and alliances to increase their market penetration.

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In 2019, Johnson & Johnson dominated the electrophysiology market. The company’s large share can be attributed to its strong suite of cardiac mapping systems, software, and electrophysiology catheters. Johnson & Johnson’s products are mainly targeted at the diagnosis and treatment of several cardiac arrhythmias, such as atrial fibrillation. The company has a strong geographic presence across the world. It focuses on product launches to establish a strong foothold in the market. In 2019, Biosense introduced CARTONET, a cloud-based networking and data analytics software solution.

Abbott Laboratories held the second-largest share of the electrophysiology market in 2019. The company offers an advanced EnSite Precision cardiac mapping system, along with sensor-enabled catheters compatible with the mapping system. Its Cardiovascular & Neuromodulation segment offers rhythm management, electrophysiology, heart failure, vascular, and structural heart devices for the treatment of cardiovascular diseases. Abbott Laboratories focuses on organic and inorganic growth strategies. In 2018, the company received US FDA approval for its Advisor HD Grid Mapping Catheter, Sensor Enabled, which can help optimize the accuracy of cardiac images when paired with the EnSite Precision cardiac mapping system. Abbott Laboratories also acquired St. Jude Medical (US) in 2017, expanding its product portfolio in the cardiac rhythm management and electrophysiology market.

Related Reports:

Electrophysiology Market by Product (Lab Devices (3D Mapping, Recording), Ablation Catheters (Cryoablation, RF), Diagnostic Catheters (Conventional, Advanced, Ultrasound)), Indication (AF, AVNRT, WPW), End User (Hospitals, ASCs) - Global Forecasts to 2025

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Report Code
MD 3273
RI Published ON
7/6/2020
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