Electrophysiology devices include, Holter monitoring devices, electrocardiogram, diagnostic electrophysiology catheters, x-ray systems, 3D mapping systems, intracardiac echocardiography systems, implantable cardiac monitors, pacemakers, and others. 

Statistics:

The global electrophysiology devices market was estimated to account for US$ 5,496.6 Mn in terms of value by the end of 2019.

Global Electrophysiology Devices Market: Drivers

Increasing investment in R&D of Holter monitoring devices is expected to propel growth of the global electrophysiology devices market over the forecast period. For instance, in December 2019, Biotricity Inc., a medical diagnostic and consumer healthcare technology company, raised US$ 6 million for FDA Filing for its patch solution within the first 6 months of 2020, which will be a novel product in the field of Holter monitoring.

Global Electrophysiology Devices Market: Opportunities

Launch of digital subscription services is expected to offer lucrative growth opportunities for players in the global electrophysiology devices market. For instance, in July 2020, AliveCor released KardiaCare, a digital subscription service that offers a suite of features that helps users interpret their heart data, monitor risk factors, identify symptom triggers and measure the impact of lifestyle changes.

Global Electrophysiology Devices Market: Restraints

Stringent approval process from regulatory bodies is expected to hinder growth of the global electrophysiology devices market. A majority of electrophysiology devices are categorized as high risk class III medical devices by the medical authorities FDA (U.S.) and CE (Europe). As some of these devices such as catheters and pacemakers are in close contact with the human body, it complicates the approval process, and makes the approval process stringent and long.

Key Takeaways:

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. Increasing investment in R&D of Holter monitoring devices is expected to propel growth of the global electrophysiology devices market over the forecast period.

Electrophysiology Monitoring Devices segment held dominant position in the global electrophysiology devices market in 2019, accounting for 67.6% share in terms of value, increasing product approvals and launch is anticipated to drive the segment growth during the forecasted period

Market Trends

Major players in the global electrophysiology devices market are focused on approval and launch of new products to expand their product portfolio. For instance, November 2019, Shimmer, a U.S.-based developer of wearable technology, announced that ECGmd – its five-wire, four-lead Holter monitor ECG, received CE mark

Major players in the market are also focused on adopting partnership strategies to enhance their market share. For instance, in April 2020, OMRON Healthcare, Co., Ltd. partnered with AliveCor, Inc. to integrate AliveCor’s ECG technology with blood pressure devices from OMRON for non-invasive remote monitoring devices.

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 June 2020, Medtronic Plc received the European Union CE Mark for its Micra AV pacemaker.

Major players in the market are also focused on adopting partnership strategies to enhance their market share. For instance, in December 2019, GE Healthcare signed a multi-year agreement with Affidea B.V., a provider of medical services, to deploy imaging and digital technologies across the Affidea network, which includes provision of 60 new MRIs, 50 ultrasound devices, 40 CT scanners and 30 X-rays machines in the next three years.

Segmentation

Scope of the report

  • 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.
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