Global Electrophysiology (EP) Catheter Market is expected to grow at a significant CAGR of 12.5% in the upcoming period as the scope and its applications are rising enormously across the globe. Electrophysiology (EP) is a diagnostic test used to measure the electrical activity of the heart and diagnose abnormal heart rhythms or arrhythmia. The EP catheters have tiny sensors that measure how electrical signals move through the heart and allows correcting of abnormal electrical signals in the heart.
The factors that are playing a major role in the growth of Electrophysiology Catheter Market are cost-efficient ablation procedures, rising use of enhanced technology like remote catheter monitoring & 3D electro-anatomical mapping, and presence of developed R&D centers. However, market is segmented based on product type, end-user, and region.
Ablation EP catheters, Diagnostic EP catheters, and others could be explored in Electrophysiology (EP) Catheter in the forecast period. Diagnostic EP catheters sector accounted for the substantial market share and is estimated to continue its dominance in the years to come. This may be because of the growing number of interventional cardiac procedures, increasing occurrence of cardiovascular diseases (CVD), and change in reimbursement policies. In addition, the sector is estimated to grow at the highest CAGR in the years to come.
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The market may be categorized based on end-users like ambulatory surgical centers, hospitals, clinics, cardiac catheterization labs, and others could be explored in the forecast period. The ambulatory surgical centers (ASCs) sector accounted for the significant market share of Electrophysiology (EP) Catheter and is estimated to lead the overall market in the years to come. The reason behind the overall market growth could be a growing number of patients those prefer ASCs as it allows people to save time and reduce medical expenses.
Globally, North America accounted for the significant market share of Electrophysiology (EP) Catheter and is estimated to lead the overall market in the years to come. The reason behind the overall market growth could be growing geriatric population, developed healthcare infrastructure, high awareness regarding Electrophysiology (EP) Catheter, and growing occurrence of atrial fibrillation. The United States is a major consumer of Electrophysiology (EP) Catheter in this region.
Instead, Europe and the Asia Pacific are also estimated to have a positive influence on the future growth. Europe is the second largest region with significant market share. However, Asia Pacific is estimated to grow at the highest CAGR in the foremost period. The aspects that may be ascribed to the growth comprise developing healthcare infrastructure. The developing countries like India and China are the major consumers of Electrophysiology (EP) Catheter in this region.
The key players of Electrophysiology (EP) Catheter Market are St. Jude Medical, Boston Scientific, Medtronic, Beijing Demax Medical Technology, Vimecon, Biosense Webster, Tyche MedTech, BIOTRONIK, SterilMed, Maquet Getinge Group, Millar, Cook Medical, and MicroPort Scientific. These players are concentrating on inorganic growth to sustain themselves amidst fierce competition.
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