At 8.8% CAGR, the MEA Electrophysiology Market is projected to be worth US$ 595.45 million by 2028, says Business Market Insights              

According to Business Market Insights’ research, the MEA electrophysiology market was valued at US$ 359.62 million in 2022 and is expected to reach US$ 595.45 million by 2028, registering an annual growth rate of 8.8%  from 2022 to 2028. Increasing advancements, product launches, and approvals and rising number of emerging markets are the critical factors attributed to the market expansion.                

The introduction of technologically advanced electrophysiology devices is one of the significant elements influencing the electrophysiology market growth. The use of various advanced mapping and guidance systems supporting improved cardiac rhythm monitoring is expected to increase the uptake of these devices during the forecast period. Technological innovations such as GE Healthcare's Innova IGS 520 and Optima IGS 320 are expected to provide lucrative growth opportunities in the electrophysiology market. These products are dose-efficient interventional X-ray systems, enabling physicians to perform complex interventional procedures efficiently and accurately. Moreover, the players operating in the market offer technologically advanced solutions for the healthcare industry. A few of the advancements, product launches, and approvals are as follows:

•          In January 2019, Abbott launched its sensor enabled TachiCath Contact Force Ablation Catheter for the treatment of atrial fibrillation. The product enables accurate imaging of the heart during an ablation procedure.

•          In September 2019, Johnson & Johnson (Biosense Webster) launched CARTONET, the world's first secure, cloud-based network for electrophysiologists to review, analyse, and share atrial fibrillation case data to improve procedural efficiencies.

•          In January 2022, Abbott Laboratories, a pharmaceutical company, was granted clearance by the FDA for using the EnSite X electrophysiology system with omnipolar EnSite technology to treat patients with atrial fibrillation.

Hence, the rising prevalence of atrial fibrillation (AF), the introduction of technologically advanced solutions, and product launches and approvals are expected to boost the electrophysiology market over the forecast period.

On the contrary, high cost of electrophysiology products and inadequate reimbursement process secret hurdles the growth of MEA electrophysiology market.    

Based on product, the MEA electrophysiology market is segmented into electrophysiology ablation catheters, electrophysiology laboratory devices, electrophysiology diagnostic catheters, access devices, and others. The electrophysiology laboratory devices segment held 40.4% market share in 2022, amassing US$ 145.46 million. It is projected to garner US$ 245.51 million by 2028 to expand at 9.1% CAGR during 2022–2028.  

Based on indication, the MEA electrophysiology market is segmented into atrial fibrillation (AF), atrial flutter, atrioventricular nodal reentry tachycardia (AVNRT), wolff-parkinson-white syndrome (WPW), and others. The atrial fibrillation (AF) held 38.8% market share in 2022, amassing US$ 139.69 million. It is projected to garner US$ 241.35 million by 2028 to expand at 9.5% CAGR during 2022–2028.

Based on country, the MEA electrophysiology market is segmented South Africa, Saudi Arabia, UAE, and Rest of MEA. Our regional analysis states that the South Africa captured 39.4% market share in 2022. It was assessed at US$  141.73 million in 2022 and is likely to hit US$  242.17 million by 2028, exhibiting a CAGR of 9.3% during the forecast period.    

Key players dominating the MEA electrophysiology market are Abbott; Biotronik, Inc.; Boston Scientific Corporation; CardioFocus; GE Healthcare; Johnson & Johnson Services, Inc.; Koninklijke Philips N.V.; Medtronic; MicroPort Scientific Corporation; and Siemens Healthineers AG among others.  

• In Mar 2022, Philips enables seamless echocardiography workflows with the launch of Ultrasound Workspace at ACC 2022, announced the launch of Ultrasound Workspace at the American College of Cardiology’s Annual Scientific Session & Expo (ACC 2022). Philips Ultrasound Workspace is an industry leading vendor-neutral echocardiography image analysis and reporting solution that can be accessed remotely via a browser. Clinicians can now leverage seamless diagnostic workflows from the ultrasound exam room to the reporting room and beyond, wherever echocardiography data needs to be reviewed and analyzed.

• In Mar 2022, BIOTRONIK announced the CE approval for HeartInsight, its remote heart failure (HF) management solution that accurately identifies patients at higher risk of HF decompensation early on. HeartInsight predicts two out of three HF hospitalizations, coupled with an industry-low false alert rate. Compared to other available solutions, HeartInsight provides the earliest notification, a median advance notice of 42 days before an impending HF hospitalization, which allows clinicians to proactively care for their patients.

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