North America Electrophysiology Market Global Manufacturers, Comprehensive Analysis, Future Prospects, Regional Trends from 2023 to 2028
The North America electrophysiology market is expected to grow from US$ 2955.68 million in 2022 to US$ 5361.98 million by 2028; it is estimated to grow at a CAGR of 10.4% from 2022 to 2028.
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The geriatric population is prone to various ailments, such as
abdominal discomfort and cardiovascular disease. The growing aging population
base and the increasing prevalence of cardiac arrhythmia are a few of the major
factors driving the electrophysiology market growth as electrophysiological
devices are used to diagnose these disorders in the geriatric population.
According to the World Health Organization (WHO), the geriatric population
worldwide will grow from ~1 billion in 2019 to ~2.1 billion by 2050. Moreover,
as per the US Census Bureau, in 2009, ~13% of the US population was aged 65 and
over, and it is estimated that it will increase by 20% by 2028. Therefore, to
cater to the growing patient population, market players are developing
effective products that will benefit the electrophysiology market growth.
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Abbott
Biotronik,
Inc.
Boston
Scientific Corporation
CardioFocus
GE
Healthcare
Johnson
& Johnson Services, Inc.
Koninklijke
Philips N.V.
Medtronic
MicroPort
Scientific Corporation
Siemens
Healthineers Aga
The electrophysiology market is a
dynamic and rapidly expanding segment within the broader medical device industry,
driven by the increasing prevalence of cardiovascular diseases, particularly
arrhythmias. Electrophysiology, at its core, involves the study and treatment
of the heart's electrical activity, and the market encompasses a wide range of
products and procedures, including diagnostic catheters, ablation catheters,
cardiac monitors, and mapping systems. The escalating geriatric population, who
are more susceptible to cardiac rhythm disorders such as atrial fibrillation
(AFib) and ventricular tachycardia, is a significant growth driver.
Furthermore, advancements in technology, such as 3D mapping and robotic
navigation, are enhancing the precision and efficacy of electrophysiology
procedures, leading to better patient outcomes and increased adoption.
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