
Published On: Sep 2022
Published On: Sep 2022
At 9.3% CAGR, the SAM Electrophysiology Market is projected to be worth US$ 853.82 million by 2028, says Business Market Insights
According to Business Market Insights’ research, the SAM electrophysiology market was valued at US$ 501.31 million in 2022 and is expected to reach US$ 853.82million by 2028, registering an annual growth rate of 9.3% from 2022 to 2028. Increasing incidence of target diseases and procedures and growing geriatric population are the critical factors attributed to the market expansion.
According to the World Health Organization (WHO), cardiovascular disease (CVD) is one of the leading causes of death across the region. The main factors contributing to the increasing prevalence of CVD and stroke include family history, ethnicity, and age. Tobacco use, high blood pressure (hypertension), high cholesterol, lack of exercise, unhealthy diet, alcohol consumption, and diseases such as dyslipidemia, obesity, and diabetes are increasingly contributing to the rising incidence of CVD. So, increasing incidence of target diseases and procedures is expected to drive the market growth.
On the contrary, high cost of electrophysiology products and inadequate reimbursement process secret hurdles the growth of SAM electrophysiology market.
Based on product, the SAM electrophysiology market is segmented into electrophysiology ablation catheters, electrophysiology laboratory devices, electrophysiology diagnostic catheters, access devices, and others. The electrophysiology laboratory devices segment held 38.5% market share in 2022, amassing US$ 193.13 million. It is projected to garner US$ 335.87 million by 2028 to expand at 9.7% CAGR during 2022–2028.
Based on indication, the SAM 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 32.5% market share in 2022, amassing US$ 163.09 million. It is projected to garner US$ 290.54 million by 2028 to expand at 10.1% CAGR during 2022–2028.
Based on country, the SAM electrophysiology market is segmented into the Brazil, Argentina, and Rest of SAM. Our regional analysis states that Brazil captured 46.3% market share in 2022. It was assessed at US$ 232.32 million in 2022 and is likely to hit US$ 405.48 million by 2028, exhibiting a CAGR of 9.7% during the forecast period.
Key players dominating the SAM 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.
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