The branch of physiology that deals with the study of electrical properties of biological cell and tissue is known as Electrophysiology. The study includes the production of electrical activity and their effect on the human body. The abnormal electrical properties of cells and tissues lead to some diseases, which can be treated with the help of electrophysiology devices. The report critically analyzes the key products available in the market and the products that are under development. The top factors influencing the market have been strategically dealt, which provides assistance to decision-making. The increase in cardiovascular diseases, Cardiac Arrhythmias and Myocardial Diseases/Disorders are some the key factor affecting the market. These factors would help the decision makers to understand the potential opportunity present in the electrophysiology device market.
The rising prevalence of diseases such as ophthalmic disorders, cardiac arrhythmias and epilepsy requires electrophysiology devices for pre-procedural assessments, detection of complication and follow-up of patients. These are acting as the driving factors for the growth of electrophysiology devices market. The increasing occurrence of Atrial Fibrillation is expected to drive the growth of electrophysiology device market in the near future.
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Electrophysiology Devices Market Analysis Types
The electrophysiology device market is divided into two major segments such as Electrophysiology Monitoring Devices and Electrophysiology Treatment Devices. The electrophysiology monitoring device segment includes electrocardiograph (ECG), Electromyograph (EMG), Electrocephaloghaph (ECoG), Holter Monitoring Device, X-ray system, remote steering system and 3D mapping System. Currently, ECG devices are dominating the electrophysiology device market.
These devices are available in differentiated forms that satisfy the need of home health care and point of care diagnostics; whereas, the X-ray devices market and 3D mapping system market are expected to grow in the near future. The Electrophysiology Treatment Market includes catheters, Pacemaker, Implantable Cardioverter Defibrillators (ICD’s) and Cardiac Resynchronization Therapy Devices (CRT). In case of electrophysiology treatment device market, catheters segment alone holds 50% of the market share.
The companies operating in the market are posing themselves as unique and advance devices manufactures. The companies are adopting key developmental strategies, which are helping them to gain more market share. Most of the companies are trying to explore the opportunities in developing economies; therefore, the companies are adopting agreement and acquisition as key strategies. The electrophysiology device manufacturers are shifting their focus towards economically emerging nations such as India, Brazil and china to increase their market share. Some of the major market players are Philips Healthcare, Boston Scientific, St. Jude Medical, Abbott laboratories, Biotronik SE and Co, and Johnson and Johnson.
HIGH LEVEL ANALYSIS
The report analyzes the bargaining power of buyers & suppliers, threat of substitute products and new entrants based on the Porter’s five force model. Suppliers in this market are continuously targeting the potential consumers by adopting product launch and approval as strategies. The bargaining power of buyers is high due to the availability of inexpensive substitute treatments. Due to the existing market conditions, the rivalry is intense among the market players. Threat of new entrants is high as the market is very attractive in terms of growth. The threat of substitutes is high due to the availability of alternate medications. The value chain analysis provides insights about the role of all participants in the supply chain of the electrophysiology device market. The key investment pockets are analyzed based on the market estimations of each segment.
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