- Summary
- Table Of Content
- Methodology
Electrophysiology Catheter Market Size:
Consegic Business Intelligence analyzes that the electrophysiology catheter market size is growing with a CAGR of 12.6% during the forecast period (2024-2031). The market accounted for USD 7.24 Billion in 2023 and USD 8.02 Billion in 2024, and the market is projected to be valued at USD 18.72 Billion by 2031.
Electrophysiology Catheter Market Scope & Overview:
An electrophysiology (EP) study, also called invasive cardiac electrophysiology, is a series of tests that examine the heart's electrical activity. The heart's electrical system produces signals that control the timing of the heartbeats. They are medical devices used to diagnose and treat heart arrhythmias by mapping and monitoring the electrical activity of the heart. These catheters are inserted into the patient's blood vessels and maneuvered to the heart to deliver electrical signals or perform ablation procedures to correct irregular heartbeats.
Diagnostic catheters and ablation catheters are two main types. Electrophysiology diagnostic catheter is used to diagnose various conditions such as arrhythmia, heart block, cardiomyopathy, and congenital heart diseases, among others whereas, ablation catheters are utilized to treat heart conditions. By recording the heart's electrical activity and using advanced technologies like 3D mapping and contact force sensing, these catheters help physicians accurately diagnose the source of the problem and guide medical treatments.
Electrophysiology Catheter Market Insights:
Electrophysiology Catheter Market Dynamics - (DRO) :
Key Drivers:
Rising Prevalence of Arrhythmia and Cardiovascular Diseases Drives the Market Demand
These catheters are inserted into the patient's blood vessels and maneuvered to the heart to deliver electrical signals or perform ablation procedures to correct irregular heartbeats. Arrhythmia is often associated with an underlying cardiovascular disorder like myocardial infarction, dilated cardiomyopathy, post-antiarrhythmic surgery, congenital heart disease, and stroke, which interferes with the heart's electrical system. Additionally, the increasing incidences of cardiovascular diseases are driving the requirement across healthcare facilities. Moreover, atrial fibrillation, often called AFib, the most common type of heart arrhythmia is increasing the requirement.
- For instance, according to the report by the World Health Organization in June 2021, cardiovascular diseases (CVDs) are the leading cause of death globally.
- According to the data published by the Centers for Disease Control and Prevention in October 2022, more than 454,000 hospitalizations with AFib as the primary diagnosis happen each year in the United States, and 12.1 Billion people in the United States will have AFib in 2030.
As a result, this rise in disease burden is driving the requirement for electrophysiology procedures and consequently, the need for related catheters.
Increasing Adoption and Awareness of Minimally Invasive Techniques Propels the Electrophysiology Catheter Market
The growing adoption of minimally invasive techniques for disease diagnosis and treatment is an important factor fuelling the market. The ECG portion of an electrophysiology procedure is completely non-invasive. However, the catheter insertion into a blood vessel, which helps the doctor guide the catheter to your heart, is minimally invasive. This makes this catheter more appealing to patients and clinicians alike. Additionally, analysis shows that the minimally invasive techniques are becoming increasingly popular because they are less risky, reduce pain, and have shorter recovery times than traditional invasive methods. Moreover, the increasing adoption of these devices in healthcare facilities is boosting the electrophysiology catheter market growth.
- For instance, in July 2021, Royal Philips announced the first minimally invasive heart procedure using its new real-time 3D intracardiac echocardiography (ICE) catheter. This device offers enhanced 2D and 3D live image guidance for a wide range of procedures in electrophysiology, to navigate procedures with ease, provide superior care, and optimize catheter lab performance.
Thus, the increasing demand for minimally invasive procedures along with the increasing innovations in these catheters is driving market expansion across the globe.
Key Restraints :
High Cost of Electrophysiology Catheters Hinders the Market
Electrophysiology catheters are complex invasive equipment that requires advanced technology, careful design, and precision manufacturing to ensure that they meet the highest safety standards. Additionally, most of the catheters are designed for single use to maintain sterility and prevent cross-contamination. This leads to a significant increase in the cost of these catheters compared to the reusable devices that deter smaller hospitals, clinics, and patients from adopting them. As a result, the high cost and complexity of these catheters are hindering the electrophysiology market growth.
Availability of Alternative Technologies Hinders the Market
Non-invasive cardiac mapping technologies are alternatives to traditional electrophysiology studies for diagnosing and treating cardiac arrhythmias. These novel approaches offer several advantages, including less invasive procedures, and pose a competitive threat to the electrophysiology catheter market. One such technology is non-invasive electrocardiographic imaging (ECGI), which uses high-density body surface potentials projected onto images of cardiac chambers from CT or MRI scans to generate isochrones and epicardial exits for arrhythmias. ECGI allows for simultaneous mapping of the entire heart without the need for invasive catheters, reducing the risks associated with traditional electrophysiology studies.
Another emerging technology is non-invasive electroanatomical mapping, which aims to reconstruct the electrical activity of the heart from magnetocardiographic (MCG) or electrocardiographic (ECG) data. By using a patient-specific torso model and sophisticated electrophysiological models, these systems can compute the distribution of cardiac sources and potentials over the heart without the need for invasive measurements. Thus, analysis depicts that the aforementioned factors are restraining the expansion of the market.
Future Opportunities :
Advancements in Technology Lead the Development of more Sophisticated Catheters
The demand for more convenient solutions for electrophysiology has motivated the increase in the development of catheters with increased accuracy and functionality. Continuous innovation in electrophysiology techniques is leading to the development of more sophisticated and effective catheters for medical procedures. Advancement in technologies such as contact force sensing, miniaturization, improved catheter design, artificial intelligence, and integration with imaging technologies is expected to propel the electrophysiology catheter market. Moreover, innovations in product development by the leading companies and their approval by the regulatory authorities for the utilization in medical facilities are expected to bring new opportunities for the market.
- For instance, in May 2023, Abbott, a leader in medical technology announced the USFDA approval of the company's TactiFlex™ Ablation Catheter, the world's first ablation catheter with a flexible tip and contact force technology. When used with Abbott's EnSite™ X EP System, physicians will have better visualization allowing for more accuracy and precision with the TactiFlex catheter, leading to reduced procedure times and better safety.
Thus, analysis shows that the consistent requirement to come up with innovative technologies is expected to create electrophysiology catheter market opportunities and trends.
Electrophysiology Catheter Market Segmental Analysis :
By Product Type:
Based on the product types the market is categorized into electrophysiology diagnostic catheters, electrophysiology ablation catheters, and others.
Trends in the Product Type:
- Advancements in electrophysiology diagnostic catheters are centered around enhancing mapping accuracy, reducing procedural times, and minimizing invasiveness, which collectively aims to improve patient outcomes in cardiac care.
In 2023, the electrophysiology diagnostic catheters segment accounted for the highest contribution of 55.34% in the electrophysiology catheter market share and is also expected to grow at the fastest CAGR over the forecast period.
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- An electrophysiology diagnostic catheter is a thin, flexible tube that is inserted into the heart through a blood vessel.
- This device is used to record the electrical activity of the heart and diagnose heart rhythm problems such as arrhythmias, heart block, cardiomyopathy, and congenital heart disease, among others.
- These catheters are further categorized into a fixed curve and steerable catheters among others.
- Fixed curve catheters have a pre-shaped curve whereas steerable catheters are provided with flexible tips that can be steered to reach specific areas of the heart.
- These modifications in diagnostic catheters are boosting the adoption and demand in healthcare facilities.
- Additionally, the continuous advancements and innovative developments in these catheters are expected to drive substantial market expansion.
- For instance, in July 2023, Biosense Webster, a global leader in cardiac arrhythmia treatment announced the launch of the OPTRELL™ Mapping Catheter with TRUEref™ Technology powered by the CARTO® 3 System. The OPTRELL™ Mapping Catheter is a high-density diagnostic catheter, with small electrodes arranged in a fixed array formation to provide high-definition electrophysiological mapping of complex cardiac arrhythmia cases including atrial fibrillation.
- As per the analysis, the significant advancements in the electrophysiology diagnostic catheter are bringing potential trends to the segment.
By End User:
Based on the end-user segment is categorized into clinics and hospitals, ambulatory surgical centers, and others.
Trends in the End User:
- Hospitals are increasingly focused on improving patient care through the use of advanced diagnostic catheters that provide real-time monitoring and feedback during procedures.
In 2023, the clinics and hospitals segment accounted for the highest market share in the overall electrophysiology catheter market.
- Cardiology clinics and hospitals are the primary users of these catheters in a variety of clinical settings including electrophysiology studies, catheter ablation, defibrillator implantation, and cardiac mapping.
- They are used by clinicians and cardiologists to record the electrical activity of the heart and ablate the tissue in the heart for the diagnosis and treatment of heart rhythm disorders which is propelling the electrophysiology catheter market demand.
- Additionally, hospitals provide the availability of cutting-edge healthcare infrastructure and medical personnel to their patients.
- Moreover, the growing hospital expenditures to provide patients with the best treatment is driving the segment expansion across the globe.
- Overall the analysis shows that the utilization of these catheters is propelling the trends of the segment.
The ambulatory surgical centers segment is expected to hold the fastest CAGR over the forecast period.
- Ambulatory surgery centers, or ASCs, are modern healthcare facilities focused on providing same-day emergency surgical care, including diagnostic and preventive procedures, avoiding hospital admissions.
- Advantages of ambulatory surgical center settings for patients, surgeons, and payers such as increased access, improved quality, and lower cost of healthcare delivery are expected to propel the segment expansion over the forecast period.
- Furthermore, new ambulatory surgical setup launches by medical device companies are expected to boost the segment in the future. For instance, on June 21, 2023, Royal Philips, a global leader in health technology, announced a collaboration with BIOTRONIK a leading global medical device company, to expand the range of cardiovascular devices available for Philips SymphonySuite customers.
- Thus, it is expected to bring lucrative opportunities in the ambulatory surgical center's segment.
By Distribution Channel:
Based on the distribution channel segment the market is bifurcated into online and offline.
Trends in the distribution channel:
- The rise of e-commerce platforms is influencing the distribution of electrophysiology catheters.
- Collaborations between catheter manufacturers and healthcare facilities are becoming more common. These partnerships facilitate better training for medical staff on new technologies and ensure that hospitals have the latest products available for patient care.
In 2023, the offline segment accounted for the highest market share in the overall electrophysiology catheter market.
- The offline segment is further segmented into hospital pharmacies, retail pharmacies, and others.
- Hospital pharmacies play an important role in helping patients and medical experts as hospitals are the primary user.
- By providing convenient, affordable, and easy access to these catheters, hospital pharmacies, and retail pharmacies help patients with cardiovascular disorders live healthier and more fulfilling lives.
- Additionally, hospital pharmacies are easy to access for clinicians, offer competitive prices on these catheters, and provide experts with information regarding the operation of physiology catheters.
- Therefore, the high benefits and easy availability of these catheters across hospital and retail pharmacies are driving the segment trends worldwide.
The online segment is expected to hold the fastest CAGR over the forecast period.
- Online distribution of these catheters offers several benefits to both the manufacturers and users including increased reach of product, direct sales, reduced costs, enhanced data collection of reviews, wider selection options, and competitive prices, among others.
- Additionally, the increasing sale of medical devices through e-commerce platforms such as online pharmacies, and company websites is expected to provide lucrative opportunities for the online segment over the forecast period.
- For instance, according to the report by India Brand Equity Foundation in July 2023, the Indian e-pharmacy market is predicted to increase at a compounded annual rate of 44% to USD 4.5 billion by 2025.
- Thus, the growing e-pharmacy sales are providing lucrative electrophysiology catheter market trends for segment growth over the forecast period.
Regional Analysis:
The regional segment includes North America, Europe, Asia Pacific, the Middle East and Africa, and Latin America.
The Asia Pacific region is expected to witness significant growth over the forecast period, growing at a CAGR of 13.3% during 2024-2031. In Asia Pacific, China accounted for a major market revenue of 37.4% in 2023. The increasing prevalence of cardiovascular diseases in the region, the rising geriatric population in regions like Japan and China, and the growing medical device industry in the Asia Pacific are driving the market growth. Additionally, increasing initiatives by the governments of countries for better healthcare are expected to boost the market in this region.
- For instance, according to the data published by the Investment Information and Credit Rating Agency, in October 2023, the Indian government is planning to introduce a credit incentive program worth USD 6.8 billion to boost the country's healthcare infrastructure. Similarly, rising government initiatives to develop the medical devices industry are expected to substantially grow the market in this region.
- For instance, according to the data published by India Brand Equity Foundation, in August 2023, foreign investments in the medical devices sector increased 98% in 2020 to USD 301.01 Billion, compared to USD 151.87 Billion in 2019, foreign direct investment inflow in the medical and surgical appliances sector stood at USD 2.80 billion between April 2000-March 2023. Additionally, the size of the Indian medical devices market is expected to grow to USD 50 billion by 2025.
As a result, owing to the developing medical device sector in the region, the market is expected to witness substantial market growth in the near future.
North America accounted for the highest electrophysiology catheter market share valued at USD 2.79 Billion in 2023 and it is expected to reach USD 7.23 Billion in 2031.
The electrophysiology catheter market across the North America region growing owing to the presence of well-developed healthcare infrastructure, the accessibility of advanced medical systems, and the high adoption rate of new technologies in the region. Additionally, the high prevalence of cardiovascular and neurological disorders in the region is increasing the demand for these catheters for various diagnostic and treatment procedures. Similarly, the growing healthcare expenditure in the region is creating a favorable environment for the adoption of new and advanced medical devices.
- For instance, in November 2023, the Centers for Disease Control and Prevention awarded USD 3.2 billion to help state, local, and territorial jurisdictions across the United States, to strengthen their public health workforce and infrastructure.
As a result, the growing healthcare spending across the region is driving electrophysiology catheter market growth and trends.
As per the electrophysiology catheter market analysis, Europe is anticipated to witness substantial growth that is backed by the increasing adoption of these catheters in sectors such as the medical. Companies invest in innovative technologies to cater to the surging demand for these catheters across the region.
The Middle East, Africa, and Latin America are expected to grow at a considerable rate due to increasing investments in the medical field in countries like Brazil, and UAE, among others.
Top Key Players & Market Share Insights:
The global electrophysiology catheter market is highly competitive, with several large players and numerous small and medium-sized enterprises. These companies have strong research and development capabilities and a strong presence in the market through their extensive product portfolios and distribution networks. The electrophysiology catheter industry is characterized by intense competition, with companies focusing on expanding their product offerings and increasing their market share through mergers, acquisitions, and partnerships. The key players in the market include-
- ADInstruments (Australia)
- Integer Holdings Corporation (U.S)
- Boston Scientific Corporation (U.S)
- Abbott(U.S)
- Millar(U.S)
- Medtronic (Ireland)
Recent Industry Developments :
Product Launches:
- In September 2022, Biosense Webster, Inc., part of Johnson & Johnson MedTech, announced the release of the OCTARAY™ Mapping Catheter with TRUEref™ Technology powered by the CARTO™ 3 Version 7 System. The OCTARAY™ Mapping Catheter is developed for the mapping of cardiac arrhythmias, including atrial fibrillation (AFib). The catheter has eight splines with improved electrode spacing options to provide shorter and more efficient mapping times than PENTARAYTM NAV ECO Mapping Catheter, which may shorten overall ablation procedure times.
Mergers & Acquisitions:
- In January 2022, Medtronic plc., a global leader in healthcare technology, announced an agreement to acquire Affera, Inc., a Boston area-based, privately held medical technology company. The acquisition expands the Medtronic portfolio of advanced cardiac ablation products and accessories to meet physician needs within a growing patient population. Affera's technologies include the Affera Prism-1™ cardiac mapping and navigation platform and Sphere-9™ cardiac ablation catheter, investigational technologies designed to enable the rapid creation of detailed maps used by electrophysiologists (EP) to diagnose arrhythmias and deliver cardiac ablation therapy, respectively.
- In May 2024, Stereotaxis acquired Access Point Technologies, enhancing its portfolio with advanced electrophysiology catheter, thereby expanding its capabilities in cardiac care and improving treatment options for patients.
- In January 2024, Catheter Precision, Inc., (NYSE American: VTAK) has finalized a distribution agreement with Supri Artigos Medico-Hospitalares Ltda for its LockeT product in Brazil, enhancing its presence in the cardiology and electrophysiology markets through Supri's established distribution network.
Electrophysiology Catheter Market Report Insights :
| Report Attributes | Report Details |
| Study Timeline | 2018-2031 |
| Market Size in 2031 | USD 18.72 Billion |
| CAGR (2024-2031) | 12.6% |
| By Growth Medium |
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| By End User |
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| By Distribution Channel |
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| By Region |
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| Key Players |
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| North America | U.S. Canada Mexico |
| Europe | U.K. Germany France Spain Italy Russia Benelux Rest of Europe |
| APAC | China South Korea Japan India Australia ASEAN Rest of Asia-Pacific |
| Middle East and Africa | GCC Turkey South Africa Rest of MEA |
| LATAM | Brazil Argentina Chile Rest of LATAM |
| Report Coverage |
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Key Questions Answered in the Report
How big is the Electrophysiology catheter market? +
Electrophysiology catheter market size is estimated to reach over USD 18.72 Billion by 2031 from a value of USD 7.24 Billion in 2023 and is projected to grow by USD 8.02 Billion in 2024, growing at a CAGR of 12.6% from 2024 to 2031.
Which is the fastest-growing region in the Electrophysiology catheter market? +
Asia Pacific is the fastest-growing region in the electrophysiology catheter market.
What specific segmentation details are covered in the Electrophysiology catheter market? +
The electrophysiology catheter report includes specific segmentation details for type, end user, distribution channel, and region.
Who are the major players in the electrophysiology catheter market? +
The key participants in the electrophysiology catheter market are ADInstruments, Integer Holdings Corporation, Zeus, BIOTRONIK, Boston Scientific Corporation, Abbott, Millar, Lepu Medical Technology Co., Ltd., CathRx Ltd., Koninklijke Philips N.V., and Medtronic.
