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 also witnessing a surge in research and development activities, with a focus on developing less invasive and more effective treatment options. The integration of artificial intelligence and machine learning into electrophysiology systems is expected to enhance diagnostic accuracy and procedural efficiency. Additionally, the development of personalized medicine approaches, tailored to individual patient needs, is gaining momentum. As the market continues to evolve, the focus on innovation, coupled with the increasing prevalence of cardiovascular diseases, will ensure sustained growth and improved patient outcomes in the field of electrophysiology.
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Author: switi patil
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