Product releases by leading market competitors are projected to fuel the worldwide electrophysiological devices market growth throughout the forecast period. Throughout the projected period, the worldwide electrophysiological devices market is likely to be driven by increasing adoption of inorganic growth tactics such as product clearance by regulatory organisations such as the United States Food and Drug Administration. For example, in July 2020, Abbott, a medical device firm, reported that the Gallant implantable cardioverter defibrillator (ICD) and cardiac resynchronization therapy defibrillator (CRT-D) device had obtained FDA clearance. Throughout the projection period, the market is likely to be hampered by an increase in product recalls by regulatory bodies such as the United States Food and Drug Administration.
According to Coherent Market Insights, the global Electrophysiology Devices Market is estimated to be valued at US$ 7,756.5 million in 2022 and is expected to exhibit a CAGR of 12.6% during the forecast period (2022-2030).
Top Companies in the Electrophysiology Devices Industry:
1. General Electric Company
General Electric Company operates as a high-tech industrial company in Europe, China, Asia, the Americas, the Middle East, and Africa. It offers gas and steam turbines, full balance of plant, upgrade, and service solutions, as well as data-leveraging software for power generation, industrial, government, and other customers. General Electric Company was incorporated in 1892 and is headquartered in Boston, Massachusetts.
2. Biotricity
Biotricity, Inc., a medical technology company, provides biometric data monitoring solutions primarily in the United States. The company focuses on delivery of remote monitoring solutions to medical, healthcare, and consumer markets, including diagnostic and post-diagnostic solutions for lifestyle and chronic illnesses. It offers Bioflux mobile cardiac telemetry solution, an integrated ECG device; and ECG analysis software that analyzes and synthesizes patient ECG monitoring data, as well as software components. The company is based in Redwood City, California. Founded in 2014. On December 12, 2022 Biotricity, Inc. announced that it made a 510(k) submission to the U.S. Food and Drug Administration (FDA) for a new form factor of its Biotres Cardiac Monitoring Device, a three lead device for ECG and arrhythmia monitoring that is intended for lower risk patients.
3. Medtronic
Medtronic plc develops, manufactures, and sells device-based medical therapies to healthcare systems, physicians, clinicians, and patients worldwide. The company was founded in 1949 and is headquartered in Dublin, Ireland. The company was founded in 1949 and is headquartered in Dublin, Ireland.
4. VivaQuant, Inc.
VivaQuant is an advanced remote cardiac monitoring system that develops technology and products for electrocardiograms. VivaQuant was founded in February 2009 by Marina Brockway, after she recognized an unmet need to improve the accuracy of information extracted from ambulatory ECGs and render them more readable. VivaQuant is located in the heart of the Minneapolis, St. Paul area, which boasts one of the highest concentrations of med-tech firms in the world.
5. OMRON Healthcare, Co., Ltd.
Omron Healthcare creates products for health and wellness, personal fitness, and monitoring blood pressure. The company was founded in 1933, headquartered in Illinois, U.S. On January 2022, Omron Healthcare introduced its remote patient monitoring services in various regions around the world. On 6 JULY 2021 OMRON Healthcare has launched OMRON Complete, its first single-lead electrocardiogram (ECG) and blood pressure (BP) monitor for home use. On 13 APRIL 2021 OMRON Healthcare has launched OMRON Hypertension Plus in the UK, a remote patient monitoring (RPM) platform for hypertension, designed to help NHS clinicians to manage a patient’s medication plan remotely, based on the patient’s home blood pressure results.
VivaLNK, Inc.,
6. Abbott
Abbott Laboratories, together with its subsidiaries, discovers, develops, manufactures, and sells health care products worldwide. It operates in four segments: Established Pharmaceutical Products, Diagnostic Products, Nutritional Products, and Medical Devices. Abbott Laboratories was founded in 1888 and is based in North Chicago, Illinois.
7. Boston Scientific Corporation
Boston Scientific Corporation develops, manufactures, and markets medical devices for use in various interventional medical specialties worldwide. It operates through MedSurg and Cardiovascular segments. The company was incorporated in 1979 and is headquartered in Marlborough, Massachusetts.
8. MicroPort Scientific Corporation
MicroPort Scientific Corporation, an investment holding company, manufactures, and markets, and distributes medical devices in the People's Republic of China, North America, Europe, other Asian countries, South America, and internationally. MicroPort Scientific Corporation was founded in 1998 and is headquartered in Shanghai, the People's Republic of China.
*Definition- Electrophysiology devices are utilised in the diagnosis of arrhythmias and atrial fibrillation. Atrial fibrillation is an arrhythmia in which the chambers of the heart begin to beat quickly.
