The global electromyography devices market is anticipated to grow with a CAGR of nearly 10.1% during the forecast period. Increasing prevalence of neuromuscular disorders such as motor neuron diseases, myasthenia gravis, myopathy, Parkinson disease, peripheral neuropathy & amyotrophic lateral sclerosis and surge in minimally invasive surgeries are expected to drive the market growth. As per the Global, Institute for Health Metrics and Evaluation, in 2017, motor neuron diseases claimed more than 237,053 individuals across the world. In addition, according to the Parkinson’s Disease Foundation, more than 10.0 million individuals are currently suffering from Parkinson’s disease across the world. The increasing prevalence of this disease is anticipated to propel the market growth over the forecast period.
Technological advancements in EMG systems and growing demand for portable EMG devices to curb the rising hospital & healthcare-associated costs are key drivers that are likely to fuel the market growth worldwide. For instance, advent in technology such as RS-EMGx EMG System, which enables 4 channels of EMG recordings simultaneously from a single subject are likely to govern the market.
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Key Market Trends
Portable EMG Devices Dominates the Market and is Expected to Continue to Do the Same during the Forecast Period
– Portable EMG devices by product mobility segment is gaining traction globally as they offer benefits such as extended care and remote monitoring from the doctor’s clinic at the patient’s home in case of management of chronic diseases. These devices are also used in ambulatory services and other paramedic settings where electrical activity of the brain has to be measured in order to understand the condition of the patient. Conditions such as heart diseases and muscular disorders are managed at economic rates, as it reduces the number of visits to the doctor or hospitals, thereby supporting the growth during the forecast period.
– Increasing awareness about prevention of diseases and the available treatment options leading to early diagnosis as well as increasing healthcare expenditure are the factors anticipated to drive this segment’s growth over the forecast period.
– Moreover, major factor contributing to the growth are increasing focus of manufacturers on technological advancements, such as portability, light weight, and simultaneous raw data acquisition, which further propel the growth of the segment.
North America Represents the Largest Market and Asia-Pacific is Expected to Register Fastest Growth.
Currently, North America dominates the market for electromyography devices market, and it is expected to continue its strong hold for a few more years due to high awareness accompanied by high disease prevalence. Favorable government regulations and initiatives pertaining to development of healthcare infrastructure also support for the large share of this region.
Favorable reimbursement policies in U.S. have surged the usage of these systems for diagnosis of neuromuscular disorders. Presence of government organizations such as National Institute of Neurological Disorders and Stroke (NINDS) that provide funding for R&D activities applicable in treatment of brain nervous disorders contributed to the dominance of the regional market.
Competitive Landscape
The major players include companies such as ADInstruments, A-M Systems, LLC, Ambu A/S, Biometrics Ltd, Cometa srl, Delsys Incorporated, Dexur, iWorx, Natus Medical Incorporated and Neurosoft.
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The major companies are undertaking various organic as well as inorganic strategies such as new product development, collaborations, acquisitions, mergers, and regional expansion for serving the unmet needs of their customers. Many players are supporting their consumers via various strategies, such as training centers and arranging seminars to make patient understand the main EMG capabilities thereby increasing their market penetration. For instance, Natus Medical Incorporated has initiated Patient Assistance Programs for creating awareness about routine EMG, nerve conduction studies, advanced and quantitative methods of analysis.
1 INTRODUCTION
1.1 Study Assumptions
1.2 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Increasing Prevalence of Mascular and Neurological Disorders
4.2.2 Rising Focus toward Minimally Invasive Surgeries
4.2.3 Technological Advancements In Medical Electrodes
4.3 Market Restraints
4.3.1 Biocompatibility Issues with Medical Electrodes
4.3.2 Stringent Regulatory Guidelines Associated with Medical Electrodes
4.4 Porter’s Five Force Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5 MARKET SEGMENTATION
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