ELECTROPHYSIOLOGY DEVICES MARKET ANALYSIS

Electrophysiology Devices Market, By Product Type (Electrophysiology Monitoring Devices, Electrophysiology Treatment Devices), By Indication (Atrial Fibrillation, Atrioventricular Nodal Re-entry Tachycardia, Supraventricular Tachycardia, Bradycardia, Others), By End User (Hospitals, Diagnostic Centers, Clinics, Others), By Geography (North America, Latin America, Europe, Asia Pacific, Middle East & Africa)

Published In : May 2024
Code : CMI1641
Pages :145
Formats :
Excel and PDF
Industry : Medical Devices

Market Challenge – Increasing Product Recalls

Increasing number of product recalls by regulatory authorities such as the U.S. Food and Drug Administration is expected to hamper the market growth over the forecast period. For instance, in February 2021, the U.S. Food and Drug Administration recalled a class I device EMBLEM S-ICD, a subcutaneous implantable cardioverter defibrillator, which was manufactured by Boston Scientific Corporation, a medical technology company. The device was recalled because the manufacturing process may allow moisture to get inside the defibrillator and cause a short-circuit when it tries to deliver high voltage shocks.

Market Opportunity – Increasing Awareness Campaigns

Increasing adoption of inorganic growth strategies such as launch of awareness campaigns can offer opportunities for the market growth. For instance, on February 20, 2024, OMRON Healthcare, Co., Ltd., a medical device company, launched a global campaign to promote awareness about atrial fibrillation (AFib), the most common type of heart arrythmia1, and how to reduce the high stroke risk associated with the condition. As a part of the campaign, the company released The Sound of AFib, a film short that was the centerpiece of the campaign.