High prevalence of cardiovascular disease is fostering the growth of the global electrophysiology devices market

 

1.      In April 2019, VivaQuant, a digital health company, received the U.S. FDA clearance for its RX-1 wearable device that can operate as a Holter monitor

2.      In February 2020, Johnson & Johnson launched a new, virtual clinical study to determine the efficacy of Apple’s iPhone and ECG-enabled smartwatch in reducing the risk of stroke and detecting cases of atrial fibrillation

3.      In November 2019, Bittium Corporation, a Finland-based cardiology, and neurology device company, presented Bittium HolterPlus, a web-based remote cardiac monitoring solution, consisting of a Bittium Faros ECG device and Bittium HolterPlus mobile application, at Medica 2019

4.      In January 2020, VivaLNK, a China-based provider of connected healthcare solutions for in-patient and remote patient monitoring, received the U.S. FDA clearance for its Continuous ECG platform comprising of reusable wearable ECG sensors and associated software development kit.

5.      In April 2021, American College of Cardiology (ACC) launched the Electrophysiology (EP) Device Implant Registry as part of its National Cardiovascular Data Registry (NCDR).

6.      In May 2019, Johnson & Johnson Medical Devices Companies launched Biosense Webster Inc.’s CARTONET as part of the company’s mission to help revolutionize the way electrophysiologists and researchers leverage and share data with the goal of improving patient outcomes and operational efficiency in catheter ablation procedures.

The growing prevalence of the cardiovascular disease is primarily fueling the growth of the global electrophysiology devices market. According to the U.S. Department of Health & Human Services, Heart disease is the leading cause of death for men, women, and people of most racial and ethnic groups in the United States. One person dies every 36 seconds in the United States from cardiovascular disease. About 655,000 Americans die from heart disease each year—that's 1 in every 4 deaths. Also, the growing geriatric population is further projected to boost demand for electrophysiology devices. According to the U.S. Census Bureau, the U.S. geriatric population is expected to reach 77 million by 2034.    

On the other hand, recall of devices is projected to restrict the growth of the global electrophysiology devices market. For instance, in February 2019, Medtronic Plc received an FDA product recall for implanted cardiac pacemakers, which affected 13,440 devices manufactured and distributed between March 2017 and January 2019

North America is expected to dominate the global electrophysiology devices market and this is attributed to the presence of a well-established healthcare sector and the increasing launch of innovative products in the region. For instance, in June 2020, Boston Scientific announced the U.S. launch of the DIRECTSENSE™ Technology, a tool for monitoring the effect of radiofrequency (RF) energy delivery during cardiac ablation procedures.