Report : South America Electrophysiology Market Forecast to 2028 – COVID-19 Impact and Regional Analysis – by Product (Electrophysiology Ablation Catheters, Electrophysiology Laboratory Devices, Electrophysiology Diagnostic Catheters, Access Devices, and Others) and Indication [Atrial Fibrillation (AF), Atrial Flutter, Wolff-Parkinson White Syndrome (WPW), Atrioventricular Nodal Reentry Tachycardia (AVNRT), and Others]
At 9.3% CAGR, the SAM Electrophysiology Market is speculated 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.
- In May 2022, Study results for Hemovent GmbH’s MOBYBOX system for the treatment of acute respiratory distress syndrome (ARDS) caused by COVID-19 have been published for the first time in the ASAIO Journal - a leading international journal in the field of artificial organ medicine. MOBYBOX is the world’s first extracorporeal membrane oxygenation (ECMO) system that uses the combination of a displacement pump with an artificial lung. The research confirms the safety and efficacy of the MOBYBOX system in the treatment of ARDS, as well as preliminarily indication that the MOBYBOX system shows improved biocompatibility.
- 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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