Core Viewpoint - The electrophysiology device market in China is experiencing rapid growth due to an aging population, increasing prevalence of arrhythmias, improved early screening rates, and advancements in electrophysiological procedures, with the market expected to reach over 40 billion yuan by 2032 [1][10][21]. Industry Overview - Electrophysiology devices are used to monitor and study electrical activities in biological systems, widely applied in medical, research, and clinical diagnosis fields. Common products include ECG machines, EEG machines, EMG machines, and electrophysiological navigation systems [2][4]. Industry Environment - The number of patients with rapid arrhythmias in China is projected to reach 28.2 million by 2024, driving demand for treatment. Electrophysiological surgeries have become a primary treatment method due to their advantages such as minimal invasiveness and high safety [6][8]. Industry Status - The market size for electrophysiology devices in China has grown from 2.42 billion yuan in 2017 to 12.55 billion yuan in 2024. The surgical volume for electrophysiology has increased from 138,000 cases in 2017 to 456,000 cases in 2024, indicating significant growth potential [10][8]. Competitive Landscape - The market is dominated by foreign companies such as Johnson & Johnson, Abbott, and Medtronic, which hold a combined market share of over 64%. Domestic companies like Huatai Medical and MicroPort EP have a much smaller share, indicating a high concentration in the industry [12][14]. Key Enterprises - MicroPort EP focuses on innovative medical devices for electrophysiology and has achieved significant revenue growth, with a projected income of 413 million yuan in 2024, up 25.51% [17]. Huatai Medical, specializing in electrophysiology and interventional medical devices, expects a revenue of 440 million yuan in 2024, reflecting a 19.73% increase [19]. Development Trends 1. **Accelerated Domestic Substitution**: Domestic brands are gaining market share due to supportive policies and technological advancements, with MicroPort EP and Huatai Medical leading in key areas [21]. 2. **Technological Innovation**: The industry is moving towards smart and precise technologies, enhancing the performance of electrophysiology devices and expanding clinical applications [22]. 3. **Growing Market Demand**: The demand for electrophysiology devices is surging, particularly in grassroots healthcare and international markets, with significant growth in overseas revenues for domestic companies [23].