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Global price trends of electrophysiology devices

Electrophysiology equipment is used to diagnose and treat electrical activities of the heart. These devices are essential in identifying and managing cardiac arrhythmias.

According to leading data and analytics company GlobalData’s analysis, the electrophysiology devices market was valued at $4.9bn in 2023 and is projected to reach $7.5bn by 2033, with a compound annual growth rate of 4%.

The price trends of electrophysiology devices can be influenced by technological advancements, market competition, regulatory changes, and healthcare policies.

According to GlobalData’s Medical SKU product, the prices of electrophysiology devices declined throughout 2023, returning to 2022 levels by the end of the year in the US.

However, Boston Scientific experienced a significant rise in its average selling price (ASP) in late 2023.

This increase was driven by the successful launch and rapid adoption of the PolarX product line, enabling Boston Scientific to sustain a higher price point.

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In contrast, other companies may have reduced their prices in response to PolarX’s strong performance, aiming to make their products more competitive by offering them at a lower price than PolarX.

Pulsed field ablation (PFA) technology has been spotlighted in recent years, showing promising trends in both clinical adoption and market dynamics.

It uses non-thermal electrical pulses to create precise and controlled ablation lesions, reducing the risk of damage to surrounding tissues.

The US market value of Farawave from Boston Scientific almost tripled between February 2024 and March 2024.

Unlike the declining trend of the regular electrophysiology devices, the prices of Farawave slightly increased, by 1.2%.

The market for PFA catheters is becoming increasingly competitive as major medical device companies, including Boston Scientific, Medtronic, and Johnson & Johnson invest in this technology.

Companies may lower prices to attract more users and gain market share, especially if a new product from a competitor demonstrates superior performance or features.

In Europe, the ASPs of most brands of electrophysiology devices slightly dropped in 2023.

Strong government regulation and reimbursement policy in EU countries depresses device prices and keeps the pricing stable.

The ASP of electrophysiology devices in Japan was higher than in other countries in 2023, especially for new products.

As there is virtually no private system, reimbursement is key for market access in Japan.

New devices need to be launched with a high price, as the reimbursement price of existing products always decreases every two years.