According to the research report titled ‘Global Electrophysiology Market Size study with COVID-19 Impact, by Product (Electrophysiology Ablation Catheters, Electrophysiology Laboratory Devices and Others), by Indication (Atrial Fibrillation, Atrial Flutter, Atrioventricular Nodal Reentry, Tachycardia (AVNRT), Wolff-Parkinson-White Syndrome (WPW) and Others), by End-User (Hospitals & Cardiac Centers and Ambulatory Surgery Centers) and Regional Forecasts 2020-2027’, available with Market Study Report, global electrophysiology market amassed USD 6.2 billion in 2019 and is expected to grow with a CAGR of 9.1% during 2020-2027.
 

Global electrophysiology market growth is driven by rising occurrence of target diseases and procedures, increasing investments, funds and grants towards healthcare infrastructure, along with new market entrants, and technological advancements. 
 

For those unversed, electrophysiology is the study of electric activity in the human body that aids in understanding electrical impulses of the heart and assessing abnormal heartbeats. Any abnormality in these electrical impulses from the cells or tissues like arrhythmia can be detected through electrophysiology devices.
 

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Notably, with the assistance of advanced electrophysiology technology, health conditions such as atrial fibrillation, atrioventricular nodal reentry tachycardia, atrial flutter, Wolff-Parkinson-White syndrome, and other cardiac arrhythmias can be detected, which is impelling the market expansion.
 

On the downside, limited medical reimbursement, and hefty cost of electrophysiology devices are anticipated to hamper the remuneration scale of the industry over the study period. Moreover, amidst the coronavirus pandemic, global electrophysiology industry is facing difficulties as temporary lockdowns are imposed in different countries, resulting in minimized referrals and patient flow.
 

Based on product type, global electrophysiology market is split into electrophysiology laboratory devices, electrophysiology ablation catheters, and others. Speaking of indication type, the industry is segmented into atrioventricular nodal reentry tachycardia (AVNRT), atrial fibrillation, Wolff-Parkinson-White syndrome (WPW), atrial flutter, and others. As per end user scope, the market is divided into ambulatory surgery centers, and hospitals & cardiac centers.
 

Citing the regional landscape, Asia Pacific electrophysiology industry is expected to record a considerable growth over 2020-2027, on account of surging demand for advanced technologies, reforms for healthcare infrastructural development, rising cases of chronic diseases, growing elderly population, and large population base.
 

Established firms in global electrophysiology market are Biotronik, Microport Scientific Corporation, Stereotaxis Inc., Japan Lifeline Co. Ltd., Boston Scientific Corporation, GE Healthcare Systems, Koninklijke Philips N.V., Medtronic plc, Abbott Laboratories, and Johnson & Johnson.