Report : Europe Electrophysiology Catheter Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Product Type (Electrophysiology Diagnostic Catheters and Electrophysiology Ablation Catheters), Application (Diagnosis and Monitoring, Imaging and Mapping, and Treatment of Cardiac Arrhythmias), and End User (Hospitals, Ambulatory Surgical Centers, and Cardiac Catheterization Labs)
Electrophysiology Diagnostic Catheters Segment to Dominate Europe Electrophysiology Catheter Market during 2019–2028
According to a new market research study on “Europe Electrophysiology Catheter Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast by Product Type, Application, and End User,” is expected to reach US$ 1,985.29 million by 2028 from US$ 1,141.71 million in 2021. The market is estimated to grow at a CAGR of 8.2% from 2021 to 2028. Increase in prevalence of cardiovascular disorders is the major factor driving the growth of the Europe electrophysiology catheter market. However, high cost of electrophysiology catheters may hinder the growth of Europe electrophysiology catheter market. The report provides trends prevailing in the Europe electrophysiology catheter market along with the drivers and restraints pertaining to the market growth.
The COVID-19 pandemic has adversely affected the medical device business in Europe. In 2020, many enterprises suspended their operations due to being unable to meet the high demands. The future medical device regulation (2017/745) of the European Union pushed new norms and recommendations from May 2020 to May 2021. Furthermore, the lowered production of these medical equipment and personal protection equipment has resulted in the insufficient availability of crucial equipment and consumables. The dependence on foreign suppliers has resulted in a lengthy delivery procedure for medical devices and consumables. Patients with atrial fibrillation may have a worsened prognosis when infected with the SARS-CoV-2 virus. According to a study published in the Journal of Cardiovascular Pharmacology in 2020, pharmacokinetic interactions between drugs and experimental therapies used to treat atrial fibrillation and COVID-19, respectively, have resulted in limited use in clinical practice. These drug interactions cause electrocardiographic abnormalities such as extreme bradycardia and QRS widening, thereby underlining the requirement of careful elective management.
The Europe electrophysiology catheter market is segmented into product type, application, end user, and country. The Europe electrophysiology catheter market, based on product type, has been classified electrophysiology diagnostic catheters and electrophysiology ablation catheters. In 2021, the electrophysiology diagnostic catheters segment held the largest share Europe electrophysiology catheter market. The electrophysiology diagnostic catheters are sub-segmented as conventional electrophysiology diagnostic catheters, advanced electrophysiology diagnostic catheters, and ultrasound electrophysiology diagnostic catheters. In 2021, the conventional electrophysiology diagnostic catheters segment held the largest share Europe electrophysiology catheter market. Further, electrophysiology ablation catheters are sub-segmented as cryoablation electrophysiology catheter, radiofrequency ablation catheters, microwave ablation systems, and laser ablation systems. In 2021, the cryoablation electrophysiology catheter segment held the largest share Europe electrophysiology catheter market. The Europe electrophysiology catheter market, based on application is segmented into diagnosis and monitoring, imaging and mapping, and treatment of cardiac arrhythmias. In 2021, the diagnosis and monitoring segment held the largest share Europe electrophysiology catheter market. The Europe electrophysiology catheter market, based on end user is segmented into hospitals, ambulatory surgical centers, and cardiac catheterization labs. In 2021, the hospitals segment held the largest share Europe electrophysiology catheter market. Based on country the Europe electrophysiology catheter market is segmented into the Germany, UK, France, Italy, Spain, and rest of Europe. In 2021, Germany held the largest share Europe electrophysiology catheter market.
Abbott; APT Medical Inc.; Biosense Webster (Johnson and Johnson Services, Inc.); Biotronik, Inc.; Boston Scientific Corporation; Medtroni; MicroPort Scientific Corporation; Stryker Corporation; and Transonic Systems Inc. are among the leading companies in the Europe Electrophysiology Catheter Market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, in 2021, Boston Scientific acquired the remaining share of Farapulse, Inc. The acquisition complemented 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 (AF) and other cardiac arrhythmias.
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