Electrophysiology (EPY) Market: Overview
Electrophysiology studies (EPS) are frequently used in indications of abnormal heart rhythms (arrhythmias), to understand the underlying causes and help clinicians decide the most useful treatments. The EPS market has made steady strides on the back of substantial increase in invasive electrophysiological (EP) testing and catheter ablation procedures worldwide. Over the past 25 years, techniques for the placement of catheters have improved substantially. The indications of EPS are as varied as the genesis are complex, propelling the growth of the EPY market. Some of the key indications of EPS are supraventricular tachycardia (SVT), wide QRS complex SVT, ventricular tachycardia (VT), atrioventricular block, and syncope.
Some of the other key indications in the EP market are dilated cardiomyopathy, muscular dystrophies (Duchenne, Becker), sarcoidosis, post antiarrhythmic surgery, congenital heart disease, undocumented palpitations, survivors of cardiac arrest, and guiding drug therapy.
The study offers a critical assessment of the key clinical avenues shaping the demand for new technologies and techniques in the healthcare industry. The research presents a data-driven insight into various growth dynamics, share and size of various key segments, latent opportunities in some of the emerging segments, and the trends underlying emerging competitive dynamics.
Electrophysiology Market: Key Trends
Growing population with indications of EPS is a key driver for EPY market. Rise in elderly population and growing number of adults with high blood pressure are key factors where EPS is indicated. Also, the rise in incidence of congenital diseases is a key trend boosting the EPY market. Advances in catheter ablation procedures and growing number of people with implantable cardioverter defibrillator (ICD) are factors that have stimulated the uptake of electrophysiology studies, thus boosting the EPY market.
The EPY market has made some remarkable advances on the back of technological advances in the equipment used. C-arm is a key case in point. Advent of specialized EP equipment has boosted the growth of the electrophysiology market.
Advancements in data acquisition systems by equipment manufacturers have expanded the avenue for the EPY market. Rise in incidence of target diseases has boosted the demand for EPS.
Electrophysiology Market: Competitive Development Analysis and Key Developments
A few players have in recent years have engaged in the conduct of retrospective comparative study. One such study was conducted in Fatima University Medical Center, Philippines, where 12 lead electrocardiogram and 2D echo was involved. The study was conducted from Jan 2017 to Dec 2017. The indication was Stable coronary artery disease (CAD).
The researchers hoped to shed light on the development avenue for continuous remote monitoring capabilities in the EPY market. Such studied are also likely to pave way to the development of EPY equipment with multiple real?time applications.
Prominent names in the EPY market are Schwarzer Cardiotek GmbH, TZ Medical, Lepu Medical, Siemens Healthineers, Merit Medical Systems, CathVision, CardioFocus, Epmap-System, EP Solutions,, Imricor Medical Systems, MicroPort Scientific Corporation, GE Healthcare, Medtronic, Abbott Laboratories, Boston Scientific, and Johnson & Johnson.
Electrophysiology Market: Regional Assessment
Some of the EPS market are North America and Asia pacific. The Asia Pacific market is expected to see substantial revenue streams, growing on the back of the rising awareness about the benefits of cardiovascular diseases. Also, rise in population with EPS and improvements in healthcare infrastructure in the emerging economies are fueling the growth prospects in the regional market.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.