ELECTROPHYSIOLOGY DEVICES MARKET ANALYSIS

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.