Market Trends of North America Electrophysiology Industry
This section covers the major market trends shaping the North America Electrophysiology Market according to our research experts:
Atrial Fibrillation Segment is Expected to Hold a Major Market Share in the North America Electrophysiology Market Over The Forecast Period
- The United States is expected to dominate the electrophysiology market in the future, owing to the presence of well-established healthcare facilities and rise in the number of arrhythmia and heart failure cases, strong presence of industry players, better healthcare infrastructure, awareness among people, and healthcare industry stakeholders about available technologies in the country.
- In addition, as per the Centers for Disease Control and Prevention (CDC), in the United States, the prevalence rate of atrial fibrillation is estimated to rise to 12.1 million by the year 2030. The country's high burden of atrial fibrillation is expected to show growth over the forecast period.
- According to the American Heart Association (AHA), around 45% of the United States population is predicted to suffer from heart disease by 2035 due to factors like high obesity, high smoking, and unhealthy lifestyles, which may lead to heart attacks and other related issues. An electrophysiology study is performed to assess the heart's electrical activity and diagnose heartbeats or arrhythmia. The country's high burden of heart diseases is projected to augment the electrophysiology market during the forecast period.
- Additionally, advancements in technology, increasing product approvals, partnerships, and acquisitions by key players are helping market growth. For instance, in February 2022, Medtronic received approval from the United States Food and Drug Administration (USFDA) for its Freezor and Freezor Xtra Cardiac Cryoablation Focal Catheters to treat the growing prevalence of pediatric Atrioventricular Nodal Reentrant Tachycardia (AVNRT). Such developments are projected to boost market growth during the forecast period.
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United States is Expected to Dominate The North America Electrophysiology Market Over The Forecast Period
- Atrial fibrillation is a type of irregular heart rhythm (arrhythmia). Arrhythmias are due to electrical signal disturbances of the heart. Individuals with type 2 diabetes have an overall 35% higher risk of atrial fibrillation compared to age- and sex-matched controls from the general population.
- As per IDF, the number of adults with diabetes is expected to reach 57 million by 2030 and 63 million by 2045 in North America and the Caribbean. The high burden of diabetes in the region is likely to be associated with a high burden of atrial fibrillation during the forecast period.
- Furthermore, the clinical trials sponsored by healthcare institutes for technologically advanced products drive market growth. For instance, a study sponsored by the Canadian Institutes of Health Research (CIHR) aimed to compare the safety and efficacy of catheter ablation-based rhythm and rate control in the management of patients with atrial fibrillation (AF) and heart failure (HF).
- The trial results were presented at the ACC virtual annual scientific session held in May 2021. Such engagement of government healthcare institutions for the clinical trials of catheter ablation for the use of atrial fibrillation creates the opportunity for market growth in the region during the forecast period.
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