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Electrophysiology involves the study of electrical activity of heart to diagnose and monitor any arrhythmia. Indications for electrophysiology include bradycardia, tachycardia, atrial fibrillation, ventricular tachycardia, ventricular fibrillation, and other arrhythmias.

Statistics:

The global electrophysiology devices market is estimated to account for US$ 14,173.5 Mn in terms of value by the end of 2027.

Global Electrophysiology Devices Market: Drivers

High prevalence of cardiovascular diseases is expected to propel growth of the global electrophysiology devices market over the forecast period. For instance, according to the American Heart Association's Heart and Stroke Statistics 2019 Update, around 48% of all adults in the U.S. suffered from some type of cardiovascular disease in 2016. 

Moreover, increasing geriatric population is also expected to boost demand for electrophysiology devices. For instance, according to the U.S. Census Bureau, the U.S. geriatric population is expected to reach 77 million by 2034.     

Statistics:

North America held dominant position in the global electrophysiology devices market in 2019, accounting for 33.0% share in terms of value, followed by Europe and Asia Pacific, respectively.

Figure 1: Global Electrophysiology Devices Market Share (%) Value, By Region, 2019

Electrophysiology Devices  | Coherent Market Insights

Global Electrophysiology Devices Market: Restraints 

Recall of devices is expected to hinder growth of the global electrophysiology devices market. For instance, in February 2019, Medtronic Plc received FDA product recall for implanted cardiac pacemakers, which affected 13,440 devices manufactured and distributed between March 2017 and January 2019

Moreover, excise tax on medical devices is also expected to limit demand for electrophysiology devices. For instance, in the U.S., the Patient Protection and Affordable Care Act puts an excise tax of 2.3% on medical devices.

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Electrophysiology Devices Market Report Coverage

Report Coverage Details
Base Year: 2019 Market Size in 2019: US$ 5,496.6 Mn
Historical Data for: 2016 to 2019 Forecast Period: 2020 to 2027
Forecast Period 2020 to 2027 CAGR: 12.6% 2027 Value Projection: US$ 14,173.5 Mn
Geographies covered:
  • North America: U.S., Canada
  • Latin America: Brazil, Argentina, Mexico, Rest of Latin America
  • Europe: Germany, U.K., France, Spain, Italy, Russia, Rest of Europe
  • Asia Pacific: China, Japan, India, Australia, South Korea, ASEAN, Rest of Asia Pacific
  • Middle East: GCC Countries, Israel, Rest of Middle East
  • Africa: North Africa, Central Africa, South Africa
Segments covered:
  • By Product Type:
    • Electrophysiology Monitoring Devices: Electrocardiograph (ECG), Electroencephalograph (EEG), Electrocardiograph (ECoG), Electromyography (EMG), Electroretinograph (ERG), Electrooculography (EOG), Holter Monitoring Devices, X-Ray Systems, Combo systems - Imaging and 3D mapping systems, Diagnostic Electrophysiology Catheters.
    • Electrophysiology Treatment Devices: Implantable Cardioveter Defibrillators (ICDs), Pacemakers, Cardiac Resynchronization Therapy Devices (CRTs), Catheters.
Companies covered:

GE Healthcare, Biotricity Inc., Medtronic Plc, VivaQuant, Johnson & Johnson, AliveCor, Bittium Corporation, Nihon Kohden Corporation, Shimmer, OMRON Healthcare, Co., Ltd., VivaLNK, Abbott Laboratories, Biotronik SE & Co. KG, Boston Scientific Corp., MicroPort, Philips Healthcare, and Siemens Healthcare

Growth Drivers:
  • Increasing prevalence of cardiovascular disorder
  • Approval and launch of new products
Restraints & Challenges:
  • Product recall

Global Electrophysiology Devices Market: Opportunities  

Development of wearable devices is expected to offer lucrative growth opportunities for players in the global electrophysiology devices market. For instance, in April 2019, VivaQuant, a digital health company, received the U.S. FDA clearance for its RX-1 wearable device that can operate as a Holter monitor

Moreover, R&D in electrophysiology devices is also expected to aid in growth of the market. For instance, in February 2020, Johnson & Johnson launched a new, virtual clinical study to determine the efficacy of Apple’s iPhone and ECG-enabled smartwatch in reducing the risk of stroke and detecting cases of atrial fibrillation.

Statistics:

The global electrophysiology devices market was valued at US$ 5,496.6 Mn in 2019 and is forecast to reach a value of US$ 14,173.5 Mn by 2027 at a CAGR of 12.6% between 2020 and 2027.

Figure 2: Global Electrophysiology Devices Market Value (US$ Mn), 2016 – 2027

Electrophysiology Devices  | Coherent Market Insights

Market Trends/Key Takeaways

Major players in the global electrophysiology devices market are focused on adopting various marketing strategies to enhance their market share. For instance, in November 2019, Bittium Corporation, a Finland-based cardiology and neurology device company, presented Bittium HolterPlus, a web-based remote cardiac monitoring solution, consisting of a Bittium Faros ECG device and Bittium HolterPlus mobile application, at Medica 2019, a leading international trade fair for the medical sector that was held in Germany.

Major players in the market are also focused on launching new products to expand their product portfolio. For instance, in September 2019, Nihon Kohden launched its VitalEEG wireless electroencephalogram headset in the U.S., which is designed for quick setup and efficient placement of electrodes to evaluate brain health.

Global Electrophysiology Devices Market: Competitive Landscape

Major players operating in the Global Electrophysiology Devices Market include, GE Healthcare, Biotricity Inc., Medtronic Plc, VivaQuant, Johnson & Johnson, AliveCor, Bittium Corporation, Nihon Kohden Corporation, Shimmer, OMRON Healthcare, Co., Ltd., VivaLNK, Abbott Laboratories, Biotronik SE & Co. KG, Boston Scientific Corp., MicroPort, Philips Healthcare, and Siemens Healthcare.

Global Electrophysiology Devices Market: Key Developments

Major players in the global electrophysiology devices market are focused on approval and launch of new products to expand their product portfolio. For instance, in January 2020, VivaLNK, a China-based provider of connected healthcare solutions for in-patient and remote patient monitoring, received the U.S. FDA clearance for its Continuous ECG platform comprising of reusable wearable ECG sensors and associated software development kit.

Major players in the market are also focused on adopting partnership strategies to enhance their market share. For instance, in October 2019, AliveCor partnered with Huami Corporation, a manufacturer of biometric, data-driven wearables, to integrate the technologies of each company to develop a new generation of medical functionality to wearable devices.

Electrophysiology involves the study of electrical activity of heart to diagnose and monitor any arrhythmia. The electrophysiology devices market is mainly driven by technological innovation. Increasing global prevalence of cardiovascular system diseases and associated comorbidities is expected to have a positive impact on the growth of the market. For instance, According to the World Health Organization (WHO), approximately 17 million people die annually from cardiovascular diseases. Moreover, manufacturers have adopted strategies such as mergers and acquisitions, intensive research and development, and continuous product launches to effectively compete in the market.

Key features of the study:

  • This report provides in-depth analysis of the Global Electrophysiology Devices market  and provides market size (US$ million) and compound annual growth rate (CAGR %) for the forecast period (2020–2027), considering 2019 as the base year
  • It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market
  • This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends,  regional outlook, and competitive strategy adopted by key players
  • It profiles key players in the Global Electrophysiology Devices market  based on the following parameters – company overview, financial performance, product portfolio, market presence, distribution strategies, key developments, strategies, and future plans
  • Key companies covered as a part of this study include, GE Healthcare, Biotricity Inc., Medtronic Plc, VivaQuant, Johnson & Johnson, AliveCor, Bittium Corporation, Nihon Kohden Corporation, Shimmer, OMRON Healthcare, Co., Ltd., VivaLNK, Abbott Laboratories, Biotronik SE & Co. KG, Boston Scientific Corp., MicroPort, Philips Healthcare, and Siemens Healthcare
  • Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, technology up-gradation, market expansion, and marketing tactics
  • The Global Electrophysiology Devices market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
  • Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the Global Electrophysiology Devices market

Detailed Segmentation:

  • Global Electrophysiology Devices Market, By Product Type:
    • Electrophysiology Monitoring Devices
      • Electrocardiograph (ECG)
      • Electroencephalograph (EEG)
      • Electrocardiograph (ECoG)
      • Electromyography (EMG)
      • Electroretinograph (ERG)
      • Electrooculography (EOG)
      • Holter Monitoring Devices
      • X-Ray Systems
      • Combo systems - Imaging and 3D mapping systems
      • Diagnostic Electrophysiology Catheters
    • Electrophysiology Treatment Devices
      • Implantable Cardioveter Defibrillators (ICDs)
      • Pacemakers
      • Cardiac Resynchronization Therapy Devices (CRTs)
      • Catheters
  • Global Electrophysiology Devices Market, By Region:
    • North America
      • By Product Type:
        • Surgical Sutures
          • Absorbable Sutures
          • Non Absorbable Sutures
        • Hand Instruments
        • Electrosurgical Devices
      • By Country
        • U.S.
        • Canada
    • Latin America
      • By Product Type:
        • Electrophysiology Monitoring Devices
          • Electrocardiograph (ECG)
          • Electroencephalograph (EEG)
          • Electrocardiograph (ECoG)
          • Electromyography (EMG)
          • Electroretinograph (ERG)
          • Electrooculography (EOG)
          • Holter Monitoring Devices
          • X-Ray Systems
          • Combo systems - Imaging and 3D mapping systems
          • Diagnostic Electrophysiology Catheters
        • Electrophysiology Treatment Devices
          • Implantable Cardioveter Defibrillators (ICDs)
          • Pacemakers
          • Cardiac Resynchronization Therapy Devices (CRTs)
          • Catheters
      • By Country
        • Brazil
        • Mexico
        • Argentina
        • Rest of Latin America
    • Europe
      • By Product Type:
        • Electrophysiology Monitoring Devices
          • Electrocardiograph (ECG)
          • Electroencephalograph (EEG)
          • Electrocardiograph (ECoG)
          • Electromyography (EMG)
          • Electroretinograph (ERG)
          • Electrooculography (EOG)
          • Holter Monitoring Devices
          • X-Ray Systems
          • Combo systems - Imaging and 3D mapping systems
          • Diagnostic Electrophysiology Catheters
        • Electrophysiology Treatment Devices
          • Implantable Cardioveter Defibrillators (ICDs)
          • Pacemakers
          • Cardiac Resynchronization Therapy Devices (CRTs)
          • Catheters
      • By Country
        • U.K.
        • Germany
        • France
        • Spain
        • Italy
        • Russia
        • Rest of Europe
    • Asia Pacific
      • By Product Type:
        • Electrophysiology Monitoring Devices
          • Electrocardiograph (ECG)
          • Electroencephalograph (EEG)
          • Electrocardiograph (ECoG)
          • Electromyography (EMG)
          • Electroretinograph (ERG)
          • Electrooculography (EOG)
          • Holter Monitoring Devices
          • X-Ray Systems
          • Combo systems - Imaging and 3D mapping systems
          • Diagnostic Electrophysiology Catheters
        • Electrophysiology Treatment Devices
          • Implantable Cardioveter Defibrillators (ICDs)
          • Pacemakers
          • Cardiac Resynchronization Therapy Devices (CRTs)
          • Catheters
      • By Country
        • China
        • Japan
        • India
        • Australia
        • South Korea
        • ASEAN
        • Rest of Asia Pacific
    • Middle East
      • By Product Type:
        • Electrophysiology Monitoring Devices
          • Electrocardiograph (ECG)
          • Electroencephalograph (EEG)
          • Electrocardiograph (ECoG)
          • Electromyography (EMG)
          • Electroretinograph (ERG)
          • Electrooculography (EOG)
          • Holter Monitoring Devices
          • X-Ray Systems
          • Combo systems - Imaging and 3D mapping systems
          • Diagnostic Electrophysiology Catheters
        • Electrophysiology Treatment Devices
          • Implantable Cardioveter Defibrillators (ICDs)
          • Pacemakers
          • Cardiac Resynchronization Therapy Devices (CRTs)
          • Catheters
      • By Country
        • GCC Countries
        • Israel
        • Rest of Middle East
    • Africa
      • By Product Type:
        • Electrophysiology Monitoring Devices
          • Electrocardiograph (ECG)
          • Electroencephalograph (EEG)
          • Electrocardiograph (ECoG)
          • Electromyography (EMG)
          • Electroretinograph (ERG)
          • Electrooculography (EOG)
          • Holter Monitoring Devices
          • X-Ray Systems
          • Combo systems - Imaging and 3D mapping systems
          • Diagnostic Electrophysiology Catheters
        • Electrophysiology Treatment Devices
          • Implantable Cardioveter Defibrillators (ICDs)
          • Pacemakers
          • Cardiac Resynchronization Therapy Devices (CRTs)
          • Catheters
      • By Country
        • North Africa
        • Central Africa
        • South Africa
  • Company Profiles
    • GE Healthcare *
      • Company Overview
      • Product Portfolio
      • Key Highlights
      • Financial Overview
      • Strategies
    • Biotricity Inc.
    • Medtronic Plc
    • VivaQuant
    • Johnson & Johnson
    • AliveCor
    • Bittium Corporation
    • Nihon Kohden Corporation
    • Shimmer
    • OMRON Healthcare, Co., Ltd.
    • VivaLNK
    • Abbott Laboratories
    • Biotronik SE & Co. KG
    • MicroPort
    • Philips Healthcare
    • Siemens Healthcare
  •  “*” marked represents similar segmentation in other categories in the respective section.

Table of Contents

  1. Research Objectives and Assumptions
    • Research Objectives
    • Assumptions
    • Abbreviations
  2. Market Purview
    • Report Description
      • Market Definition and Scope
    • Executive Summary
      • Market Snippet, By Product Type
      • Market Snippet, By Country
      • Coherent Opportunity Map (COM)
  3. Market Dynamics, Regulations, and Trends Analysis
    • Market Dynamics
      • Drivers
      • Restraints
      • Market Opportunities
    • Impact Analysis
    • Key Highlights
    • Product launch
    • PEST Analysis
    • Technological Advancements
    • Regulatory Scenario
    • Mergers and Acquisitions
  4. Global Electrophysiology Devices Market, By Product Type, 2019 – 2027, (US$ Mn)
    • Introduction
      • Market Share Analysis, 2020 and 2027 (%)
      • Y-o-Y Growth Analysis, 2017 – 2027
      • Segment Trends
    • Electrophysiology Monitoring Devices
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
        • Electrocardiograph (ECG)
        • Electroencephalograph (EEG)
        • Electrocardiograph (ECoG)
        • Electromyography (EMG)
        • Electroretinograph (ERG)
        • Electrooculography (EOG)
        • Holter Monitoring Devices
        • X-Ray Systems
        • Combo systems - Imaging and 3D mapping systems
        • Diagnostic Electrophysiology Catheters
    • Electrophysiology Treatment Devices
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
        • Implantable Cardioveter Defibrillators (ICDs)
        • Pacemakers
        • Cardiac Resynchronization Therapy Devices (CRTs)
        • Catheters
  5. Global Electrophysiology Devices Market, By Region, 2019 – 2027, (US$ Mn)
    • Introduction
      • Market Share Analysis, By Region, 2020 and 2027 (%)
      • Y-o-Y Growth Analysis, For Regions, 2017–2026
    • North America
      • Market Size and Forecast, By Product Type, 2016 – 2027, (US$ Mn)
      • Market Size and Forecast, By Country, 2016 – 2027, (US$ Mn)
        • U.S.
        • Canada
    • Latin America
      • Market Size and Forecast, By Product Type, 2016 – 2027, (US$ Mn)
      • Market Size and Forecast, By Country, 2016 – 2027, (US$ Mn)
        • Brazil
        • Mexico
        • Argentina
        • Rest of Latin America
    • Europe
      • Market Size and Forecast, By Product Type, 2016 – 2027, (US$ Mn)
      • Market Size and Forecast, By Country, 2016 – 2027, (US$ Mn)
        • Germany
        • U.K.
        • France
        • Spain
        • Italy
        • Russia
        • Rest of Europe
    • Asia Pacific
      • Market Size and Forecast, By Product Type, 2016 – 2027, (US$ Mn)
      • Market Size and Forecast, By Country, 2016 – 2027, (US$ Mn)
        • China
        • Japan
        • India
        • Australia
        • South Korea
        • ASEAN
        • Rest of Asia Pacific
    • Middle East
      • Market Size and Forecast, By Product Type, 2016 – 2027, (US$ Mn)
      • Market Size and Forecast, By Country, 2016 – 2027, (US$ Mn)
        • GCC Countries
        • Israel
        • Rest of Middle East
    • Africa
      • Market Size and Forecast, By Product Type, 2016 – 2027, (US$ Mn)
      • Market Size and Forecast, By Country, 2016 – 2027, (US$ Mn)
        • North Africa
        • Central Africa
        • South Africa
  6. Competitive Landscape
    • Company Profiles
      • GE Healthcare
        • Company Overview
        • Product Portfolio
        • Financial Overview
        • Key Highlights
        • Market Strategies
      • Biotricity Inc.
        • Company Overview
        • Product Portfolio
        • Financial Overview
        • Key Highlights
        • Market Strategies
      • Medtronic Plc
        • Company Overview
        • Product Portfolio
        • Financial Overview
        • Key Highlights
        • Market Strategies
      • VivaQuant
        • Company Overview
        • Product Portfolio
        • Financial Overview
        • Key Highlights
        • Market Strategies
      • Johnson & Johnson
        • Company Overview
        • Product Portfolio
        • Financial Overview
        • Key Highlights
        • Market Strategies
      • AliveCor
        • Company Overview
        • Product Portfolio
        • Financial Overview
        • Key Highlights
        • Market Strategies
      • Bittium Corporation
        • Company Overview
        • Product Portfolio
        • Financial Overview
        • Key Highlights
        • Market Strategies
      • Nihon Kohden Corporation
        • Company Overview
        • Product Portfolio
        • Financial Overview
        • Key Highlights
        • Market Strategies
      • Shimmer
        • Company Overview
        • Product Portfolio
        • Financial Overview
        • Key Highlights
        • Market Strategies
      • OMRON Healthcare, Co., Ltd.
        • Company Overview
        • Product Portfolio
        • Financial Overview
        • Key Highlights
        • Market Strategies
      • VivaLNK
        • Company Overview
        • Product Portfolio
        • Financial Overview
        • Key Highlights
        • Market Strategies
      • Abbott Laboratories
        • Company Overview
        • Product Portfolio
        • Financial Overview
        • Key Highlights
        • Market Strategies
      • Biotronik SE & Co. KG
        • Company Overview
        • Product Portfolio
        • Financial Overview
        • Key Highlights
        • Market Strategies
      • Boston Scientific Corp
        • Company Overview
        • Product Portfolio
        • Financial Overview
        • Key Highlights
        • Market Strategies
      • MicroPort
        • Company Overview
        • Product Portfolio
        • Financial Overview
        • Key Highlights
        • Market Strategies
      • Philips Healthcare
        • Company Overview
        • Product Portfolio
        • Financial Overview
        • Key Highlights
        • Market Strategies
      • Siemens Healthcare
        • Company Overview
        • Product Portfolio
        • Financial Overview
        • Key Highlights
        • Market Strategies
  7. Section
    • References
    • Research Methodology
    • About us and Sales Contact

*Browse 22 market data tables and 14 figures on “Electrophysiology Devices Market - Global forecast to 2027”.

Frequently Asked Questions

The Global Electrophysiology Devices market size was valued at US$ 5,496.6 million in 2019 and is estimated to exhibit a CAGR of 12.6% between 2020 and 2027.
Electrophysiology Monitoring Devices segment held the major market share in 2019 owing to an increasing prevalence of cardiovascular disorders is expected to propel growth of the market.
Major factor driving the growth of Global Electrophysiology Devices market during the forecast period increasing prevalence of cardiovascular disorders, new product approvals, increasing research & development , and adoption of expansion strategies from major companies.
Major factors hampering the growth of the Global Electrophysiology Devices market during the forecast period constitutes of contamination of product efficacy issues leading to product recall.
North America market is expected to generate the highest revenue during the forecast period.
Some of the key players operating in the market are GE Healthcare, Biotricity Inc., Medtronic Plc, VivaQuant, Johnson & Johnson, AliveCor, Bittium Corporation, Nihon Kohden Corporation, Shimmer, OMRON Healthcare, Co., Ltd., VivaLNK, Abbott Laboratories, Biotronik SE & Co. KG, Boston Scientific Corp., MicroPort, Philips Healthcare, and Siemens Healthcare.
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