The Europe Electrophysiology Market size was valued at USD XX Billion in 2022 and is expected to surpass USD XX Billion by 2031, expanding at a CAGR of 7.5% during the forecast period, 2023 – 2031. The growth of market is attributed to growing demand for catheter ablation procedure, new advanced technology in electrophysiology industry, and prevalence of target diseases.
According to the report of European Union of Medical Specialist the number of cardiologist hold specialization in electrophysiology counts extremely less. However, in Europe it has a more or less stable workforce, still with the lack of established electro physiologist and their mobility it creates lag of geographical dispersion of EP’s causing disparity between the demand and supply of EP’s.
However, increasing technological advancement in the field of electrophysiology along with rapid adoption rate is expected to impel the market. The growing development in procedure technologies which allows the procedure to become less invasive stimulates the industry as well as the revenues potential.
The COVID-19 pandemic has affected people and industries on a global scale, resulting high mortality rate of all time. Due the lockdown imposed by the government of the nations on restriction in movement caused significant decline in initial period. Rules related to non-emergency cases and high rate of infection kept the electrophysiology procedure to its very low.
Europe Electrophysiology Market Trends, Drivers, Restraints, and Opportunities
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Increasing demand for catheter ablation process and ubiquity of target diseases is expected to drive the market in coming years.
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Increase usage in detecting heart failure rate as the major application in electro physiology is estimated to propel the market during forecast period.
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R&D and technological advancement in the field of electrophysiology to develop devices that enhances treatment and makes the procedure less invasive is anticipated to boost the market during projected period.
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Growing geriatric population and increasing cases of cardio vascular diseases is estimated to spur the market during the forecast period.
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Lack of skilled electro physiologist within the region act as one of the factor that hinders the growth of market in the coming years.
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High cost, procedure, and maintenance cost are some of the challenges that can hamper the market progress during the projected period.
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High infection risk involved and shifts focus majorly on the treatment of COVID-19 patients as the priority act as a factor that can impede the market growth.
Scope of Europe Electrophysiology Market
The report on the Europe electrophysiology market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
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Attributes
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Details
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Report Title
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Electrophysiology market – Europe Industry Analysis, Growth, Share, Size, Trends, and Forecast
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Base Year
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2022
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Historic Data
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2016–2021
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Forecast Period
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2023–2031
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Segmentation
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Product (Laboratory Devices, Access Catheters, Access Devices, Ablation Catheters, and Others), Diseases (Wolff-Parkinson-white Syndrome, Atrial Flutter, Atrial Fibrillation, Atrioventricular Nodal Reentry Tachycardia, and Other Target Diseases)
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Geographical Scope
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Italy, France, Germany, Spain, United Kingdom, Rest of Europe
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Report Coverage
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Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
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Key Players Covered in the Report
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GE Company (GE Healthcare); Boston Scientific Corporation; Biotronik SE & Co.KG; Abbott Laboratories; Medtronic PLC.
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Europe Electrophysiology Market Segment Insights
The ablation catheters segment holds a major market share
Based on the products, the market is segregated into laboratory devices, access catheters, access devices, ablation catheters, and others. The ablation catheters segment holds a major share of the market during the forecast period due to its use in application such as removing anomalous heart tissues which is responsible for irregular heartbeat and involves minimal invasive procedure.
The atrial fibrillation segment is expected to exhibit high CAGR
On the basis of diseases, the market is categorized into wolff-parkinson-white syndrome, atrial flutter, atrial fibrillation, atrioventricular nodal reentry tachycardia, and other target diseases. The atrial fibrillation segment is expected to exhibit high CAGR during the projected period owing to rapid adoption of ablation procedure has increased the treatment rate of atrial fibrillation and approximately 12 million people is to be diagnosed with atrial fibrillation during the forecast period.
Segments
Europe electrophysiology market has been segmented on the basis of
Products
- Laboratory Devices
- Access Catheters
- Access Devices
- Ablation Catheters
- Others
Disease
- Wolff-Parkinson-White Syndrome
- Atrial Flutter
- Atrial Fibrillation
- Atrioventricular Nodal Reentry Tachycardia
- Other Target Diseases
Geographies
- Italy
- France
- Germany
- Spain
- United Kingdom
- Rest of Europe
Key Players
Competitive Landscape
Key players competing in the Europe electrophysiology market include GE Company (GE Healthcare); Boston Scientific Corporation; Biotronik SE & Co.KG; Abbott Laboratories; Medtronic PLC.
Some of these players are targeting on business strategies such as mergers, acquisitions, partnerships, collaborations, capacity expansion, and product launches to increase their market shares. For instance,
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In January 2021, Farapulse received CE Mark for its FARAPULSE Pulsed Field Ablation (PFA) system for the treatment of Paroxysmal Atrial Fibrillation.
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In December 2020, Actus Medical introduced a system they called AcQBlate Force Sensing Ablation System especially in Europe after they receive the CE Mark for their system, AcQBlate FORCE and Qubic Force Sensing Module aka Qubic Force.
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