Benzinga | Jun 30, 2021 02:58PM EDT

BioSig Completes 1,000 Patient Cases and Expects 1,500 more at the end of 2021

According to recent reports, the global electroceuticals/bioelectric medicine market is currently worth $16.8 billion and is projected to reach $21.5 billion by 2026, at a compound annual growth rate (CAGR) of 5.0%

BioSig Technologies, Inc. (NASDAQ:BSGM), a medical technology company, unlocks the future of bioelectronic medicine with its PURE EP System(tm). The company recently increased its procedural volume targets to 1,500 due to accelerated technology usage, after delivering 425 procedures at the end of 2020. Today it announced physicians completed 1,000 patient cases.

"We are thrilled to cross the 1,000-case milestone, a figure that was our initial target for the entire 2021," said Kenneth L. Londoner, chairman and CEO of BioSig Technologies. "Most importantly, this case growth allows us to collect vast amounts of clinical data daily, providing us with immense intelligence that is vital for our clinical and commercial strategy."

Here's what you need to know.

Why is BioSig Different?

Recent reports show that 1 in 18 Americans suffer from cardiac arrhythmia, which is 5% of the U.S. population, and 1 in 4 adults over 40 could develop an irregular heartbeat.

According to the Centers for Disease Control (CDC), atrial fibrillation is the most common arrhythmia type, affecting over 33 million people worldwide, including over 6 million in the U.S.

Additionally, atrial fibrillation causes more than 750,000 hospitalizations in the U.S. each year, resulting in approximately $6 billion in healthcare spending annually.

BioSig's noninvasive computerized technology, the PURE EP(tm) System, provides essential diagnostic signals with high clinical value in all cardiac ablations that treat irregular heartbeats or arrhythmias. This ultimately reduces the probability that a procedure will be repeated and increases the safety and efficacy profile.

BioSig Now

BioSig is currently conducting patient cases in nine medical centers across the country. Texas Cardiac Arrhythmia Institute at St. David's Medical Center in Austin, Texas, Mayo Clinic Florida Campus, the company's first commercial customers, and the University of Pennsylvania count among the most prominent technology users with over 600 patient cases conducted to date.

The company is in the targeted commercial launch phase, focusing on expanding its clinical footprint across the Northeast, Texas and Florida -- the three regions that account for the most extensive electrophysiology programs in the country.

In addition, BioSig will be exhibiting at the annual Heart Rhythm 2021 convention on July 28-31, 2021, at the Boston Convention and Exhibition Center.

For more information, visit the company's website.