The transcending burden of cardiac arrhythmias has demanded the development of innovations into the manufacturing of the electrophysiology devices. The manufacturers have shifted towards the adoption of disposable catheters for the intermittent cardiac procedure, which provides better sterility, safety, and are cost-effective. CVDs are highly responsible for approximately 3.9 million deaths in Europe every year. The digital health and telemedicine equipped into the electrophysiology catheters and devices provide real-time monitoring through a secured cloud server.
According to Data Bridge Market Research the Europe Electrophysiology Market was valued at USD 1013.40 million in 2021 and is expected to reach USD 2618.71 million by 2029, registering a CAGR of 12.60% during the forecast period of 2022 to 2029.
“Increasing Product Approvals Facilitate the Market Growth”
The wide presence of major market players in European countries and the growing trend of product approvals is anticipated to drive the growth of the market. For instance, Adagio Medical received a CE mark for its intelligent Continuous Lesion Ablation System (iCLAS) in June 2020, specifically indicated for use in the endocardial treatment of paroxysmal and continuous atrial fibrillation and atrial flutter. Likewise, CardioFocus Inc., or reviewed CE mark for its HeartLight X3 Endoscopic Ablation System in April 2019, that uses laser energy in pulmonary vein isolation procedure, wherein lines of scar tissue are created to block the abnormal electrical pathways that cause atrial fibrillation. Also, Medtronic Plc has been witnessed to have an aggressive venture in the approval and launching of more than 12 of its proprietary electrophysiology catheters and other devices in Uzbekistan, Indonesia, and two catheters in Australia, from 2017 to 2020. Thus, this factor boosts the market growth.
What restraints the growth of Europe Electrophysiology Market?
“High Installation Cost of Catheter Ablations”
The huge cost associated with installation of catheter ablations result in the hindrance of the market growth. Catheter ablation was associated with higher costs over the lifetime of the medical therapy. Heart surgeries are very expensive. For instance, a recent study found the median patient cost for catheter ablation was around $32,756. It has been witnessed in many studies that a patient treated with catheter ablation experienced lifetime costs of $64 960 compared with $49 865 for medical treatment. Such instances are expected to impact the market.
The Europe electrophysiology market is segmented on the basis of product, end user and target diseases.
Germany tends to lead the market growth as it has an impressive healthcare infrastructure equipped with advanced technological facilities for its electrophysiology labs. Germany has electrophysiology lab facilities in more than 30% of its total hospitals. The potential patient base, latest healthcare infrastructure, high-tech interventional procedures and enough trained medical staffs are building to increase the growth of the electrophysiology market. Furthermore, Germany had more than 55% of its atrial fibrillation cases diagnosed and above 81% of its AF studies undergone ablation procedures, in 2019. The impressive diagnosis rate, increased electrophysiology lab facilities and the high awareness of the cardiac arrhythmias and electrophysiological interventions are boosting the dominance of Germany in the Europe electrophysiology market.
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The Prominent Key Players Operating in the Europe Electrophysiology Market Include:
Above are the key players covered in the report, to know about more and exhaustive list of Europe electrophysiology market companies contact, https://www.databridgemarketresearch.com/contact
Data collection and base year analysis are done using data collection modules with large sample sizes. The market data is analyzed and estimated using market statistical and coherent models. In addition, market share analysis and key trend analysis are the major success factors in the market report. The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, global vs Regional and Vendor Share Analysis. Please request analyst call in case of further inquiry.
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Europe Electrophysiology Market is Expected to Grow at CAGR 7.3% From 2017 to 2024