Battle for China's Emerging $10B+ PFA Market: Jinjiang, Huatai, and Boston Scientific Lead as Domestic Innovators Gear Up for Scale-Up

In the first half of 2025, the sales of cardiac electrophysiology pulsed field ablation (PFA) systems surged in the Chinese market. According to research, PFA products from companies such as Jinjiang Electronic, APT Medical, and Boston Scientific are at the forefront of the market, with a rapid increase in the number of hospitals adopting these products and the number of surgeries performed.

An anonymous dealer told VCBeat: "In the first half of the year, the application volume of PFA grew rapidly. On the one hand, PFA products from Medtronic, Johnson & Johnson, ShineyoMedical, and AICare have successively entered clinical use, providing more innovative options for clinicians. On the other hand, a large number of doctors actively adopted PFA products to treat diseases such as atrial fibrillation under the market education and academic promotion efforts by many companies."

Currently, for several PFA products that have been commercially applied, the market response has been generally positive with high recognition from doctors. In practice, PFA products have not only captured the market of cryoballoon ablation as expected but also taken a portion of the radiofrequency ablation market.

In view of the advantages of PFA products, some clinical experts have called for: "As doctors, we should actively master the application of new tools such as PFA, strictly follow surgical indications and operational guidelines, improve the quality of surgery, and ensure patient safety."

Compared with only three companies' PFA products being commercialized in the Chinese market in 2024—Jinjiang Electronic, Nuomao, and Boston Scientific—more approved PFA products will be commercialized in 2025:

Driven by various favorable factors such as accelerated market promotion, high clinical acceptance, short learning curve, and policy support, the industry generally forecasts a high growth rate for the PFA market. After a period of competition, the PFA field has formed a preliminary market landscape.

In 2024, Farapulse, the PFA product of Boston Scientific, exceeded $1 billion in global sales. This has boosted confidence among all global PFA companies: the PFA market is worth tens of billions of dollars and will become a mainstream product in the electrophysiology field faster than originally anticipated.

In China, PFA is also a blue ocean market worth over tens of billions of yuan. PFA is currently mainly used for the treatment of atrial fibrillation and is expanding its indications related to arrhythmia.

According to medical equipment market data, based on terminal procurement market statistics, the scale of China's cardiac ablation catheter consumables market increased by 10.28% year-on-year in 2024, reaching 7.4 billion yuan (excluding equipment). Frost & Sullivan forecasts that the market size of China's cardiac electrophysiology devices will increase to 15.7 billion yuan by 2025 and reach 41.9 billion yuan by 2032.

At this stage, due to the relatively short commercialization time of PFA products, radiofrequency ablation still accounts for over 90% of the market in China. However, APT Medical stated: "The difference in ablation time per point between radiofrequency ablation and PFA is about one minute, but atrial fibrillation surgery requires dozens to hundreds of ablation points. Therefore, the overall operation time of PFA can be shortened by about half an hour compared to radiofrequency, demonstrating significant clinical value."Chinese doctors generally tend to shift towards PFA technology, especially in the field of atrial fibrillation ablation, where radiofrequency ablation shows a trend of being phased out.。”

Based on this, multiple leading companies and innovative enterprises have increased their investment in PFA products. For example, APT Medical responded in a survey: Currently, the company's frontline sales team exceeds 200 people, simultaneously covering RF ablation and PFA businesses. Meanwhile, the PFA business line is equipped with approximately 60 independent support personnel.In terms of promotion strategy, the company focuses on PFA as its core guidance.。

With a large amount of resources invested, APT Medical expects that the number of terminal surgeries for its PFA products will reach a certain level by 2025.Guaranteed to exceed 3,000 units。

Jinjiang Electronic and Boston Scientific are also stepping up efforts to promote their PFA products. Among them, the LEAD-PFA Pulse Ablation System, developed by Jinjiang Electronic as the first domestically approved PFA product in China, has completed over 1,000 commercial applications in 2024 after undergoing market cultivation and technical training from scratch.

Since 2025, Jinjiang Electronic has continuously promoted the academic promotion and market cultivation of PFA products, and rapidly responded to clinical needs with optimized iterations, launching the second-generation pulsed ablation catheter — PulsedFA FocalPoint, a magnetic navigation pressure-sensing pulsed electric field ablation catheter.

So far, Jinjiang Electronic has built a more comprehensive atrial arrhythmia pulse ablation solution. Its two pulse ablation catheters can be used to treat atrial fibrillation and supraventricular tachycardia respectively. With various measures taken by Jinjiang Electronic, the adoption and application volume of its PFA products have surged significantly, placing it among the leading players in the market.

The Farapulse Pulsed Field Ablation (PFA) System, under Boston Scientific, has become the first PFA product to achieve sales exceeding 1 billion US dollars and is highly anticipated. Meanwhile, Boston Scientific is also optimistic about the growth rate and potential of China's electrophysiology market. In November 2024 (three months after receiving approval), Boston Scientific held the launch ceremony for its Farapulse system at the 35th Great Wall Conference of Cardiology. This product is currently the most widely used PFA product globally, with the most clinical evidence-based medical evidence.

Relying on Boston Scientific's strong sales team, marketing team, and a large number of overseas application cases, as of March 2025, the Farapulse system has completed over 1,000 applications across 30 provinces in China. From 0 to 1,000, it took only about four months. This not only demonstrates the strength of Boston Scientific's sales team but also indicates that domestic doctors highly recognize PFA products due to early market cultivation and generally prefer to apply PFA technology. According to data from the article "Meta-Analysis of Pulsed Field Ablation versus Cryoballoon Ablation for the Treatment of Atrial Fibrillation," among 3,765 atrial fibrillation patients, 1,430 were treated with PFA and 2,335 with cryoballoon ablation. The conclusion is: Compared with cryoballoon ablation, PFA has shorter operation time, less phrenic nerve and esophageal injury, but there is no statistically significant difference in X-ray exposure time, atrial arrhythmia, and pericardial tamponade.

Overall, in the first half of 2025, Jinjiang Electronic, APT Medical, and Boston Scientific ranked at the forefront of the PFA market, relying on their respective advantages.

In 2024, Johnson & Johnson leads the major market in China's cardiac electrophysiology field with its advanced radiofrequency ablation products, followed closely by foreign companies such as Abbott, Boston Scientific, and Medtronic. Chinese brands like APT Medical, Jinjiang Electronic, and ShineyoMedical are in a phase of rapid catch-up.

As PFA products accelerate commercialization and show a trend of replacing cryoablation and radiofrequency ablation, the existing market pattern of cardiac electrophysiology will be broken. Companies such as Jinjiang Electronic, APT Medical, and Boston Scientific are expected to achieve a turnaround and overtake competitors by relying on PFA products.

However, this is only a preliminary market landscape. The PFA industry as a whole is still in a highly competitive and volatile stage. As more PFA products enter the commercialization phase and join the market competition, there will be more changes in the PFA and electrophysiology markets.

"Just that, Jinjiang Electronic, APT Medical, and Boston Scientific have already gained a first-mover advantage in the market. This requires latecomers to respond actively," an anonymous dealer said.

In China's PFA market, in addition to Jinjiang Electronic, APT Medical, and Boston Scientific, more innovative Chinese companies have received approval for their PFA products and have gradually started commercialization. In May, AccuPulse and Shangyang Medical simultaneously launched their cardiac pulsed field ablation systems. In July, ShineyoMedical held the launch event for its cardiac pulsed field ablation system. Additionally, Nuomao is increasing its investment in market training and academic promotion.

Since 2025, as multiple PFA companies have accelerated commercialization, the热度 of academic conferences related to arrhythmia has continued to rise, receiving more attention than ever before. Among these, PFA has become a高频词 at the conferences.

For example, at conferences such as the 10th Asia Pacific Heart Rhythm Summit, the 25th Chinese Heart Rhythm Congress, and the 23rd Atrial Fibrillation Academic Conference, companies have launched PFA products and organized events including live broadcasts of PFA surgeries, academic seminars, sharing sessions on PFA application experiences, and hands-on simulator operation experiences to promote their PFA products.

Despite the early advantages held by Jinjiang Electronic, APT Medical, and Boston Scientific, which have already secured a certain market share, the PFA market is still in a period of rapid expansion. A large number of hospitals remain untapped, and many doctors have yet to try PFA products, leaving significant opportunities for innovative companies.

At the same time, these newly commercialized innovative companies are also enhancing their competitiveness through various differentiation strategies.

First is product differentiation.Currently, there are many PFA products on the market, and different systems vary in parameters such as catheter shape, pulse parameters, and designed waveforms.

Based on previous clinical applications, common complications of pulsed ablation are often caused by factors such as excessive ablation attempts, overly high energy settings, incomplete electrode contact, and air discharge (bubbles) in the blood.

As a later-to-market product, most have optimized targeting of the aforementioned pain points.For example, the RhythPulse system by ShineyoMedical, the AccuPulse system by APT Medical, and the PulseMagic Spiral system by Shangyang Medical are all equipped with intelligent contact detection modules to ensure proper electrode contact, reducing the risk of hemolysis caused by ineffective discharges and other complications.

At the same time, the PFA products of ShineyoMedical, Aicopulse, and Shangyang Medical are all suitable for three-dimensional electrophysiological surgeries. Compared with two-dimensional pulsed electric field ablation surgeries, three-dimensional PFA can automatically integrate anatomical structures with electrical signals, perform substrate mapping simultaneously with modeling, and combine the efficient ablation of PFA catheters to improve surgical efficiency and accuracy while reducing the operational difficulty for surgeons.

In addition, compared with previous products, the newly approved PFA products have been designed with a wider range of catheter diameters to meet the needs of different patients. These products also all support surgery under local anesthesia, which is more in line with the operating habits of doctors in China.

Dr. Weizhu Ju from the First Affiliated Hospital of Nanjing Medical University previously stated in the article "Application of Pulsed Field Ablation in Atrial and Ventricular Arrhythmias": Due to the short-duration, high-intensity characteristics of the pulses, PFA procedures cause strong skeletal muscle stimulation and generally need to be performed under deep sedation or general anesthesia. This also limits the widespread clinical application of this technology. Therefore, continuous improvements to PFA technology are urgently needed in two dimensions: anesthesia protocols and catheter ablation parameters, to reduce the need for anesthesia and procedural time loss. Optimization of anesthesia protocols will be one of the key steps for the widespread application and clinical translation of PFA technology.

In addition to these standard innovations, each company's PFA products also have their own unique advantages.For example, ShineyoMedical's RhythPulse system adopts the world's first 10mm ring ablation catheter, which can cover a lesion area with a diameter of 10mm in a single discharge. The ablation efficiency is more than three times higher than traditional technology and it is the first to propose the concept of "large focal" ablation. At the same time, relying on its one-sided targeted coating technology, discharge can be achieved only at the contact surface, thereby reducing ineffective discharges and lowering the risk of renal dysfunction caused by hemolysis and the generation of microbubbles.

AccuPulse System, under the brand AccuPulse by Aikangmai, adopts an ultra-fine catheter design of only 7.5F, which can effectively reduce complications such as vascular access and tissue damage; it also meets clinical needs in different situations through a variable loop diameter design (15-20mm or 20-25mm).

The PulseMagic Spiral system developed by Shangyang Medical features a catheter with a three-dimensional double-helix structure that forms a "tower-shaped" configuration upon entering the pulmonary vein. This design allows it to cover both the entrance and the intracavitary area of the pulmonary vein, achieving optimal contact inside and out. The PulseMagic system also integrates a complete operational chain encompassing magnetic positioning modeling, QRS-synchronized pulse delivery, real-time contact indication, and full discharge recording, enabling "integrated ablation" technology.

NuomaoCardiPulseSystem, whose catheter shape is flexible and changeable (basket/Petal). During the procedure, the catheter can quickly reach the pulmonary vein under the guidance of a guidewire.Pulmonary vein isolation can be completed without relying on 3D mapping.`, Simplify the operator's workflow,`Effectively shorten the learning curve.

NearRecently, the PFA product of Maiwei Medical has been approved for marketing. Information published on the official website of the National Medical Products Administration shows that: Maiwei Medical's cardiac pulsed electric field ablation device is the first equipment to adopt nanosecond pulse width high-voltage pulsed electric field to achieve pulmonary vein isolation for the treatment of paroxysmal atrial fibrillation. Compared with similar products, the nanosecond pulse width can make tissue damage more uniform, effectively reduce neuromuscular stimulation, alleviate patient pain, and benefit more patients with atrial fibrillation.

Secondly, establish cooperation with channel partners in advance to accelerate market promotion and channel development.For example, ShineyoMedical reached a strategic cooperation with Xiangrikui Medical, a well-known commercial company in the atrial fibrillation field, four months before the product launch. It quickly built a sales and technical support team of over a hundred people across China, covering markets in all regions.

In May, AccuPath (艾科脉) reached cooperation agreements with TaiMei Medical and Shanghai Pharma Cardinal, accelerating the expansion of a nationwide logistics distribution network to enhance hospital entry efficiency and logistics response speed, ensuring timely fulfillment of clinical needs.

Shangyang Medical leverages the channel and complementary product advantages of MicroPort Group and MicroPort EP to accelerate clinical applications. At the end of June, MicroPort Group held the 2025 Global Partner Conference, during which MicroPort EP promoted Shangyang Medical’s PFA product as part of the “Comprehensive Ice and Fire Electromagnetic Solution.”

Finally, innovate business models to enhance market competitiveness.Unlike companies with first-mover advantages such as Jinjiang Electronic, AccuPulse innovatively adopts a consignment-based model, increasing market share through equipment leasing and similar activities. ShineyoMedical, on the other hand, has opted for pricing innovation: by implementing multi-tiered pricing across various specifications and levels, it aligns with local DRG and DIP systems while maintaining competitive pricing.

In addition, domestic innovative enterprises are also accelerating their entry into hospitals by relying on policy advantages. For example, multiple PFA products on the market have been approved as innovative medical devices and will enjoy policies related to innovative medical devices. Some products also benefit from other policy advantages. For instance, ShineyoMedical's PFA product has been selected for the "New and Excellent Medical Devices and Pharmaceuticals" catalog of Shanghai's biopharmaceutical industry. This catalog aims to support innovative products with significant clinical value and technological leadership, and selected companies will receive policy support such as health insurance recommendations and hospital application.

It is worth mentioning that PFA companies currently initiating commercialization also adopt different academic promotion strategies. For instance, ShineyoMedical plans to promote the "large circle + small loop" combined ablation and popularize the one-stop ablation concept of PFA + left atrial appendage closure. ShineyoMedical also sees potential in the grassroots hospital market and will increase its promotional efforts in this sector.

ShineyoMedical believes that: County-level hospitals will become the main force for PFA atrial fibrillation, which is an inevitable result of "precise policy implementation + technological adaptation + efficient resource integration": Within the framework of hierarchical diagnosis and treatment, PFA, with its operational simplicity and high safety, helps county hospitals break through technical bottlenecks.

Medtronic, leveraging its advantages as a multinational giant, has built a bridge for communication between clinical experts in China and the United States by organizing Sino-U.S. academic forums and Sino-U.S. PFA New Technology Exchange Forums, promoting the adoption of its PFA product, PulseSelect. Medtronic's promotional strategy focuses more on highlighting the indication of PulseSelect for persistent atrial fibrillation. PulseSelect is the world’s first PFA system approved for both paroxysmal and persistent atrial fibrillation indications, while other PFA products are mainly applicable to paroxysmal atrial fibrillation.

In addition, each company has various differentiated solutions. For instance, Aikangmai plans to explore the deep integration of electrophysiology consumables with AI technology to develop smarter and more precise surgical solutions; establish a database of surgical outcomes using real-world data to inform product iteration and precision marketing, achieving a two-way drive between technology and the market.

Through the above-mentioned diverse differentiated initiatives, these products that have just been launched commercially have completed their first clinical applications in multiple hospitals.For example, the PFA product under ShineyoMedical has completed its first round of applications in more than 10 provinces and dozens of hospitals, such as HartRhythm Cardiovascular Hospital, Zhoupu Hospital Affiliated to Shanghai Health Medical College, Shanghai Xinhua Hospital, Wuhan Central Hospital, The First Affiliated Hospital of Nanchang University, The Second Affiliated Hospital of Zhejiang University School of Medicine, The Affiliated Hospital of Guizhou Medical University, Xiangya Hospital of Central South University, and The First Affiliated Hospital of Naval Medical University. Additionally, it successfully performed a one-stop PFA + left atrial appendage occlusion surgery at Xuyi People's Hospital (a county-level market), serving as a successful example of channel expansion.

Shangyang Medical has completed its first batch of clinical applications at the General Hospital of the Northern Theater Command, the First People's Hospital of Shanghai, the First Affiliated Hospital of Ningbo University, the Fuwai Cardiovascular Hospital of Yunnan Province, the Provincial Hospital Affiliated to Shandong First Medical University, the People's Hospital of Jiangxi Province, the Zhujiang Hospital of Southern Medical University, and the Henan Chest Hospital.

As companies continue to take action, the newly commercialized PFA products are also expected to see an accelerated increase in sales. Facing more intense market competition, companies need to respond to clinical feedback more quickly, optimize and iterate their products, and enhance overall competitiveness.

For future PFA products, some clinical experts hope for further advancements in indication selection, catheter optimization design, energy optimization, and intelligent ablation.