Electrophysiology Ablation Market

Electrophysiology Ablation Market Snapshot

The global electrophysiology ablation market was valued at US$ 2.5 Bn in 2020 and is expected to reach US$ 6.3 Bn by 2031, surging at a CAGR of 8.4% over the decade, reveals Persistence Market Research in its recent market survey.

In 2020, the global market for electrophysiology ablation accounted for approx. 11.3% of overall cardiac monitoring device sales.

Rising prevalence of Atrial Fibrillation (AF) and growing adoption of electrophysiology ablation procedures have increased demand for cardiac arrhythmias management. Introduction of developed electrophysiology ablation varieties contribute to technological advancements in electrophysiology devices and related electrophysiology monitoring devices such as electroencephalography (EEG) device.

Also, physicians’ preference for ablation procedures has added the increased adoption rate of cardiac monitoring devices. Advancements in the healthcare industry are surging the growth of the treatment market as well as the growth of medical devices and equipment that are used for electrophysiology ablation.

Demand Analysis of Electrophysiology Ablation (2016-2020) Vs Market Outlook (2021-2031)

Sales of electrophysiology ablation products increased at a CAGR of 6.7% from 2016 to 2020.

Increase in worldwide prevalence of atrial fibrillation is creating demand for cardiac ablation procedures and electrophysiology devices in the market. One of the major factors responsible for this increased demand is the changing lifestyle of people, which greatly increases the risk for atrial fibrillation events such as high blood pressure, stroke, heart failure, and others.

For instance, according to data from the British Cardiovascular Society, in 2019, global burden of atrial fibrillation was estimated at 59.7 million. The Centers for Disease Control & Prevention (CDC) estimates that, in the U.S. alone, nearly 12.1 million people are expected to suffer from Atrial Fibrillation (AFib) by 2030.

Growing demand for cost-effective diagnostic options together with rising awareness regarding electrophysiology ablation are expected to create lucrative opportunities for manufacturers of electrophysiology ablation devices for significant revenue growth.

Considering this, the global market for electrophysiology ablation is slated to surge at a CAGR of 8.4% through 2031.

Which Factors are Restraining Demand for Electrophysiology Ablation?

Cases of product recall of devices used in electrophysiology ablation procedures is one of the major factors expected to hamper growth of market over the forecast period. Product recalls affect the market in general, where manufacturers are likely to suffer from recalled products directly or indirectly, impacting their net sales.

Apart for that, market space left by recalled products is capitalized by other market leaders or participants. These recalls affect company sales for the next few months. Although most of electrophysiology ablation claim to have high precision, some give inappropriate results.

For instance, in Feb 2019, an FDA notice was sent to Boston Scientific for the Maestro 4000 Cardiac Ablation System for product recall.

Country-wise Insights

Why is the U.S. a Large Market for Electrophysiology Ablation?

The U.S. is estimated accounts for over 68% of the North American market for electrophysiology ablation. Development of cardiovascular treatment infrastructure, government and private investments in the healthcare sector, and increased acceptance and adoption of new technology make the U.S. a high revenue generating country.

Also, good reimbursement scenario and rise in awareness about cardiac health will offer lucrative opportunities for electrophysiology ablation equipment providers.

Why is the U.K. a Leading Market for Electrophysiology Ablation in Europe?

The U.K. is estimated accounts for 16.8% market share in Europe. Factors such as increase in geriatric population, presence of a large number of ablation centers, growing demand for minimally invasive cardiac treatment procedures, and adequate healthcare infrastructure with satisfactory facilities are boosting demand for electrophysiology ablation procedures in the U.K.

Moreover, growing awareness of the benefits of ablation procedures over traditional therapeutic and surgical procedures is expected to drive demand throughout the forecast period of 2021-2031.

What are the Factors Fueling Demand for Electrophysiology Ablation in China?

China holds 43.2% share of the East Asia market owing to factors such as large patient population base, growing government support to increase public access for advanced therapeutic and surgical procedures, and strengthening healthcare infrastructure across the country.

How is the Electrophysiology Ablation Market Faring in India?

Demand for electrophysiology ablation devices in India is expected to rise at an impressive 10.4% CAGR over the forecast period.

Electrophysiology ablation is considered to be the first line of treatment for arrhythmias, which is the primary factors leading the market in India. Drugs to treat abnormal heart beat work very well for most people, but in some it may cause side effects. In these cases, doctors may suggest the use of catheter ablation.

Rise in product portfolio expansion in India by various companies is responsible for the growth of the market in India. For instance, in June 2019, Abbott launched its sensor-enabled HD grid mapping catheter in India. This U.S. FDA-approved product complemented the other cardiac mapping systems of Abbott, thereby expanding its advanced cardiac mapping portfolio.

Category-wise Insights

Demand for Ablation Catheter to continue gaining Traction by product?

By product, the ablation catheter segment holds a high share market of 47.4%. This product is a safe and a therapeutic option for most arrhythmias, with 80-90% cure rates.

The product has the capability to improve quality of life and prevent symptoms of arrhythmia such as weakness, shortness of breath, and fatigue. These lifesaving advantages of ablation catheters make them the most lucrative and highly adopted product in the market.

Why Does Atrial Fibrillation (AF) Contribute Highest Revenue by Application?

In terms of application, the atrial fibrillation segment accounts for 52.6% of total market share. Rising cases of atrial fibrillation is the primary factor driving segment growth.

For instance, as per reported data by the Centers of Disease control and Prevention (CDC), nearly 454,000 people are hospitalized every year in the United States with AFib as the primary diagnosis, while also contributing as the prime factor for causing more than 150,000 deaths every year. In 2019, atrial fibrillation was mentioned on 183,321 death certificates and was found to be the underlying cause of death.

Which End User will hold the most of the market share?

By end user, the hospitals segment leads the market with a share of 59.3, owing to increased number of walk-in patients undergoing electrophysiology ablation procedures, high availability of trained medical professionals, and adoption of technologically advanced devices and equipment by interventional cardiologists in hospitals.

Increasing preference of large patient pool to undergo ablation surgery in ambulatory service centers is driving this segment as well.

Impact of COVID-19

The COVID-19 outbreak impacted industries and economies in several countries due to travel bans, lockdowns, and business shutdowns.

The outbreak negatively impacted the development of electrophysiology ablation devices for a small time period as only emergency and essential health services were allowed. In addition, visits to hospitals dropped due to fear of getting infected.

As per the research report published in The New England Journal of Medicine (NEJM), Aug 2020, the number of hospitalization of patients suffering from acute myocardial infarction significantly declined during the COVID-19 pandemic in Northern California.

Competitive Landscape

Demand for electrophysiology ablation devices and procedures has tremendously increased over the past few decades owing to involvement of governments and various private players in undertaking public health initiatives and programs.

In the process, key electrophysiology ablation equipment manufacturers are also focused on collaborating with other industry players in developed and emerging economies to introduce innovative products and technologies.

• In Sept 2021, Medtronic plc collaborated with Mpirik to address disparities in care associated with the prevention of Sudden Cardiac Arrest (SCA), a condition in which the heart suddenly and unexpectedly stops beating.
• In June 2021, Boston Scientific Corporation acquired Farapulse, Inc. The acquisition is expected to complement the existing Boston Scientific electrophysiology portfolio to include the FARAPULSE Pulsed Field Ablation (PFA) System – a non-thermal ablation system for the treatment of atrial fibrillation and other cardiac arrhythmias.

Electrophysiology Ablation Industry Report Scope

Key Segments Covered in Electrophysiology Ablation Industry Research

Electrophysiology Ablation Market by Product

• Diagnostic Catheters
• Ablation Catheters
• Access Devices

Electrophysiology Ablation Market by Application

• Supraventricular Tachycardia (SVT) Ablation
• Ventricular Tachycardia (VT/VPC) Ablation
• Atrial Fibrillation (AF)

Electrophysiology Ablation Market by End User

• Hospitals
• Ambulatory Surgical Centers
• Clinics

Electrophysiology Ablation Market by Region

• North America Electrophysiology Ablation Market
• Latin America Electrophysiology Ablation Market
• Europe Electrophysiology Ablation Market
• East Asia Electrophysiology Ablation Market
• South Asia Electrophysiology Ablation Market
• Oceania Electrophysiology Ablation Market
• Middle East and Africa (MEA) Electrophysiology Ablation Market