Asia-Pacific Electrophysiology Market Size

Asia-Pacific Electrophysiology Market Analysis

The Asia-Pacific Electrophysiology Market size is estimated at USD 1.9 billion in 2024, and is expected to reach USD 3.16 billion by 2029, growing at a CAGR of 10.82% during the forecast period (2024-2029).

The COVID-19 pandemic has had a substantial impact on the Asia-Pacific electrophysiology market initially. Most electrophysiology activities have been significantly reduced to accommodate the healthcare demands of the pandemic. For instance, according to the national center for biotechnology information (NCBI), in an article titled "Impact of COVID-19 pandemic on catheter ablation in China: A spatiotemporal analysis," published in 2022, catheter ablation increased remarkably from around 100,019 in 2020 to 125,006 in 2021. The catheter experienced a substantial decline during the early phase of the COVID-19 pandemic and then gradually returned to pre-COVID-19 levels. Thus, the COVID-19 outbreak affected the market's growth adversely in its preliminary phase. However, the market is expected to gain traction due to the significant increase in electrophysiology activities.

Further, the increasing prevalence of targeted diseases and technological advancements in the field of electrophysiology are among the major factors driving the growth of the studied market. For instance, according to the National Library for Biotechnology Information, in an article titled "Cardiac electrophysiology in India: Academic publications in the last decade and the way forward," in 2021, it has been stated that during the past twenty-five years, the field of cardiac electrophysiology witnessed a steady rise, in parallel to the developments happening all around the world. Thereby, due to such factors, the market is expected to have significant growth during the forecast period.

Additionally, according to the Organisation for Economic Cooperation and Development (OECD), in an article titled "Health at a Glance: Asia/Pacific 2022," cardiovascular disease (CVD) is the leading cause of death in Asia-Pacific. Thereby, a high prevalence of heart diseases may elevate the need for electrophysiology.

Moreover, in 2021, Stereotaxis and Shanghai Microport EP Medtech Co., Ltd. mentioned that they have collaborated to advance technology innovation and commercial adoption of robotics in electrophysiology in China. The agreement brings together MicroPort EP's commercial and product leadership in China's electrophysiology market with Stereotaxis advanced Robotic Magnetic Navigation technology. Thereby, such product expansions and collaborations is elevating the growth og the electrophysiology market within the region.

Therefore, owing to the aforementioned factors the studied market is anticipated to witness growth over the analysis period. However, the lack of skilled professionals is likely to impede market growth.