Electrophysiology Market Value Projected to Exceed $5 Billion By 2022
Palm Beach, FL – February 19, 2020 – Various reports concerning the electrophysiology markets project that the market and its segments will continue to experience substantial growth in the coming years. Electrophysiology is the biomedical field that deals with the study of electric activity in the body. Electrophysiology includes the study of the generation of electrical activity and the effects of that electrical activity on the body. The global electrophysiology market has witnessed continuous growth in the past few years and is projected to grow even further in the coming years. According to a report from Global Market Insights, the North American electrophysiology market value surpassed USD $1,723 million in 2018 and is set to achieve a significant CAGR from 2019 to 2025, driven by growing incidence of cardiovascular diseases. According to another report from Market Reports World, The electrophysiology market is expected to register a CAGR of 6.5% through 2024. Certain factors that are driving the growth of the market are increasing the prevalence of target diseases, technological advancements in the field of electrophysiology, and increasing demand for catheter ablation procedures. In Europe and North America, 1-2% of the total healthcare expenditure is attributed to heart failure. In 2016, around 5.5 million people were diagnosed with heart failure in the United States. According to the American Heart Association, this number is expected to increase to 8 million by 2030. Since electrophysiology devices have a major application in detecting heart failure rates, the increasing number of cardiac failures is expected to drive the market. Active healthcare stocks in news today include: BioSig Technologies, Inc. (NASDAQ:BSGM), PAVmed Inc. (NASDAQ: PAVM), Senseonics Holdings, Inc. (NYSE: SENS), Abbott Laboratories (NYSE:ABT), Amarin Corporation plc (NASDAQ: AMRN).
Yet another report from Grand View Research focused on the devices market stated that the global electrophysiology devices market size was valued at 5.1 billion in 2018. It projected continuing growth in the sector based on increasing use of electrophysiology devices in the diagnosis and treatment of cardiovascular diseases such as atrial fibrillation, growing demand for cardiac rhythm management devices for continuous monitoring and increasing use of these devices in out-of-hospital settings are some high impact rendering growth drivers of the market. In addition, a rapid increase in the aging population was found to be responsible for increasing heart failure rates, which has further contributed to the growth of the electrophysiology market.
BioSig Technologies, Inc. (NASDAQ:BSGM) BREAKING NEWS – BioSig Completes 100th Patient Case with PURE EP(tm) System – BioSig Technologies, a medical technology company developing a proprietary biomedical signal processing platform designed to improve signal fidelity and uncover the full range of ECG and intra-cardiac signals, today announced that the Company successfully completed 100 patient cases with its PURE EP(tm) System.
The Company initiated its first clinical trial in November 2019, and is currently enrolling patients at Texas Cardiac Arrhythmia Institute at St. David’s Medical Center and Mayo Clinic’s Florida campus. Earlier in 2019 the Company conducted patient cases at Indiana University School of Medicine, Greenville Memorial Hospital, Santa Barbara Cottage Hospital and Texas Cardiac Arrhythmia Institute at St. David’s Medical Center. The Company’s PURE EP(tm) System was used during the procedures on patients with persistent atrial fibrillation, ischemic ventricular tachycardias, PVC, atypical flutters and other types of complex arrhythmias.
Clinical observations collected with PURE EP(tm) System were recently presented by Andrea Natale, M.D., Executive Medical Director, Texas Cardiac Arrhythmia Institute at St. David’s Medical Center during the 25th Annual International AF Symposium. Management is encouraged by the level of interest in commercial deployments from over 40 leading U.S. based medical centers generated at this event.
“We are responding to the requests in a methodical fashion in order to assess and meet the needs of these centers. We are running ahead of our plans stated in our November 2019 shareholder letter,” commented Kenneth L. Londoner, Chairman and CEO of BioSig Technologies, Inc. The Company’s most recent Shareholder Letter stated the intentions to install PURE EP(tm) System at up to nine new centers leading up to the Heart Rhythm Society’s annual convention in May 2020.
The PURE EP(tm) System is a computerized system intended for acquiring, digitizing, amplifying, filtering, measuring and calculating, displaying, recording and storing of electrocardiographic and intracardiac signals for patients undergoing electrophysiology (EP) procedures in an EP laboratory. The PURE EP(tm) System aims to minimize noise and artifacts and acquire high-fidelity cardiac signals. Improving fidelity of acquired cardiac signals may potentially increase the diagnostic value of these signals, thereby possibly improving accuracy and efficiency of the EP studies and related procedures. Read this and more news for BSGM at: https://www.financialnewsmedia.com/news-bsgm
In other healthcare and medical device industries news of note:
Senseonics Holdings, Inc. (NYSE American: SENS), a medical technology company focused on the development and commercialization of the first and only long-term, implantable continuous glucose monitoring (CGM) system, recently announced an agreement with Companion Medical to integrate Eversense® CGM System real-time glucose data with the Companion Medical InPen™ smart system for insulin delivery. For people living with insulin-dependent diabetes, this news means that real-time glucose data will continuously be incorporated into their InPen insulin system allowing for more relevant insulin dosing information which will inform improved diabetes management decisions.
“There is a strong desire from people living with diabetes to have a complete picture of their real-time glucose values, rate of change and insulin information in one place so they can make better diabetes management decisions,” said Tim Goodnow, PhD, President and CEO of Senseonics. “By partnering with Companion Medical, multiple daily injection patients using the InPen System will be able to take full advantage of the convenience of insightful and comprehensive insulin data integrated with their Eversense CGM data, giving them a more complete picture and meaningful information at their fingertips.”
PAVmed Inc. (NASDAQ: PAVM) a highly differentiated, multiproduct medical device company, recently announced it has added the EsoCure™ Esophageal Ablation Device with Caldus™ Technology to its commercial product pipeline.
EsoCure’s disposable single-use thermal balloon ablation catheter is designed to advance through the working channel of a standard endoscope and allow the clinician to treat dysplastic Barrett’s Esophagus (BE) before it can progress to highly lethal esophageal cancer (EAC) and to do so without the need for complex and expensive capital equipment. It complements Lucid Diagnostics’ (“Lucid”) portfolio of EsoGuard™ and EsoCheck™ products, which are designed to detect nondysplastic and dysplastic BE, as well as EAC itself.
Abbott Laboratories (NYSE: ABT) recently announced it has received CE Mark for the new Gallant™ implantable cardioverter defibrillator (ICD) and cardiac resynchronization therapy defibrillator (CRT-D) devices, bringing the most advanced heart rhythm management capabilities along with a new set of benefits to people in Europe with abnormal heart rhythms and heart failure. The devices offer new opportunities for patient engagement and remote monitoring through new smartphone connectivity and connected applications. Additional benefits include a patient preferred design, improved battery longevity and MRI compatibility.
Doctors will often recommend ICDs for prevention of sudden cardiac death in patients who suffer from reduced cardiac function and who may be at risk of suffering from life-threatening abnormal heart rhythms. These abnormal rhythms, also known as ventricular arrhythmias, can occur when the heart beats too fast or chaotically leaving the heart unable to pump blood effectively. CRT-Ds are used to prevent sudden death similar to traditional ICDs, but in addition act to restore the normal timing of the ventricles or lower chambers of the heart in patients with reduced cardiac function and progressive heart failure despite optimal medical therapy.
Amarin Corporation plc (NASDAQ: AMRN) recently announced that BioNJ awarded Amarin with an Innovator Award in recognition of the approval of a new indication for VASCEPA® (icosapent ethyl) by the U.S. Food and Drug Administration (FDA) in December 2019. This approval positions VASCEPA as the first and only drug approved to reduce cardiovascular events in millions of select high-risk patients. The approval follows over a decade of research and development in a clinically challenging disease area characterized by significant unmet medical need.
“Amarin is proud to be part of BioNJ’s business community,” stated Steven Ketchum, PhD, Amarin’s president of R&D and chief scientific officer, who accepted the award on Amarin’s behalf. “New Jersey’s biotech hub has enabled Amarin to hire world-class talent for its Bridgewater location. Through the skills and dedicated efforts of such talented people, we have pioneered an important, practice-changing therapy, VASCEPA, which we believe will help millions of people avoid adverse cardiovascular events. We are confident the region’s pool of talented professionals will continue to be a valuable resource in our continued expansion.”
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