Pulsed field ablation (PFA) technology has been spotlighted in recent years, showing promising trends in both clinical adoption and market dynamics. 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 per cent in the same time-period, according to GlobalData.
Tina Deng, Principal Medical Devices Analyst at GlobalData, comments: “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, the products with new technology like Farawave have more pricing power under downward pricing pressure. Innovative portfolios driven by technology differentiation can help device makers to stay profitable under high inflation environment.”
Electrophysiology equipment is used to diagnose and treat electrical activities of the heart. These devices are essential in identifying and managing cardiac arrhythmias. The price trends of electrophysiology devices can be influenced by technological advancements, market competition, regulatory changes, and healthcare policies.
Deng continues: “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 in the next five years to attract more users and gain market share, especially if a new product from a competitor demonstrates superior performance or features.”
Edits made by EH News Bureau