NEW YORK, March 22, 2017 /PRNewswire/ --
FinancialBuzz.com News Commentary
The global Electrophysiology (EP) market is growing rapidly due to the significant development and innovation in EP technologies. According to a report published by Allied Market Research, the global electrophysiology market was worth $3.42 billion in 2015 and is expected to reach $8.271 billion by 2022, with a GAGR of 13.4%. Electrophysiology is a branch of cardiology and is used to diagnose abnormal heartbeats or arrhythmia. The report indicates that in addition to developments in innovative EP technologies, increased adoption of EP catheter ablation and growing number of EP labs are the main factors that drive the growth of the market. BioSig Technologies, Inc. (OTC: BSGM), Nevro Corporation (NYSE: NVRO), Boston Scientific Corporation (NYSE: BSX), Abbott Laboratories (NYSE: ABT), Siemens AG (OTC: SIEGY).
The electrophysiology ablation catheters are considered as one of the fastest-growing medical device segments, accounting for more than 35% of total electrophysiology market in 2015. Catheter ablation is a growing preference for the treatment of cardiac arrhythmias and has a high success rate. Radiofrequency and cryoablation are considered as the most widely used EP ablation catheters and are expected to witness significant growth in the near future due to advancement in the technology. As for the medical devices market itself, a report published by Lucintel indicates that the global medical device market is expected to reach an estimated $343 billion by 2021, and it is forecasted to grow at a CAGR of 4.6% from 2016 to 2021.
BioSig Technologies, Inc. (OTCQB: BSGM) is a medical device company developing a proprietary technology platform designed to improve the electrophysiology (EP) marketplace. Minneapolis-based BioSig Technologies is preparing to commercialize its PURE EP(TM) System. The PURE EP System is a novel cardiac signal acquisition and display system which is engineered to assist electrophysiologists in clinical decision making during procedures to diagnose and treat patients with abnormal heart rates and rhythms. BioSig's main goal is to deliver technology to improve upon catheter ablation treatments for the prevalent and deadly arrhythmias, Atrial Fibrillation and Ventricular Tachycardia.
On March 17th, BioSig Technologies announced that, "It has signed a ten-year strategic agreement with Mayo Clinic and Mayo Clinic Ventures. This new, expanded collaboration with Mayo builds upon the work realized under the Advanced Clinical Research Program that was signed with Mayo Clinic in March 2016.
BioSig intends to work closely with Dr. Samuel Asirvatham and K. L. Venkatachalam, leading Mayo electrophysiologists, to develop advanced clinical features and applications for its PURE EP System, as well as to leverage the company's core competency in physiologic signal processing to develop future technologies. Mayo is expected to contribute know-how, intellectual property and clinical support to the partnership. The company expects joint patent filings to come out of the relationship."
Nevro Corporation (NYSE: NVRO) is a global medical device company focused on providing innovative products that improve the quality of life of patients suffering from debilitating chronic pain. Nevro has developed and commercialized the Senza spinal cord stimulation (SCS) system, an evidence-based neuromodulation platform for the treatment of chronic pain. The Senza system is the only SCS system that delivers Nevro's proprietary HF10 therapy. Senza, HF10, Nevro and the Nevro logo are trademarks of Nevro. The company has gone from pre-revenue in 2014 to $180 million of revenues and now with a $2.7 billion market capital.
The National Institute for Health and Care Excellence issued medical technology guidance recommending the use of Boston Scientific Corporation (NYSE: BSX) cardiac resynchronization therapy defibrillators (CRT-D) powered by EnduraLife™ Battery Technology for treating patients with heart failure. Boston Scientific Corporation is a developer, manufacturer and marketer of medical devices that are used in a range of interventional medical specialties. The Company offers its products by seven businesses: Interventional Cardiology, Cardiac Rhythm Management, Endoscopy, Peripheral Interventions, Urology and Pelvic Health, Neuromodulation, and Electrophysiology. It operates in three segments: Cardiovascular, Rhythm Management and MedSurg.
Abbott Laboratories (NYSE: ABT) announced favorable one-year outcomes from the largest study of real-world experience for the MitraClip system in transcatheter mitral valve repair procedures in the United States. MitraClip treats people with degenerative mitral regurgitation (DMR, also known as leaky heart valve), a serious condition involving a dysfunction of the heart's mitral valve, which regulates blood flow into the heart's main pumping chamber. The study analyzed data from the Transcatheter Valve Therapy registry involving nearly 3,000 DMR patients who were high-risk for surgery. Following minimally invasive implantation with MitraClip, patients had significant improvements, including 92.8 percent of patients achieving post-procedural mitral regurgitation severity grade of less than or equal to 2.
Siemens AG (OTC: SIEGY) has signed the U.S. Army's first energy savings performance contract at a government-owned, contractor-operated facility. Under this $11.8 million contract with the U.S. Army Corps of Engineers, Siemens will implement facility upgrades to enhance energy efficiency and reliability at the Joint Systems Manufacturing Center in Lima, Ohio, known to be one of the Army's largest energy consumers. The project includes a guarantee by Siemens that its improvements at the facility will save approximately $20 million or approximately 1.4 million British thermal units over the 15-year performance period. JSMC, which restores and repairs armored vehicles, such as the M1A2 Abrams Main Battle Tank, is owned by the Army but operated by General Dynamics Land Systems.
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