Medical Electrodes Market – Industry developments and growth strategies
Medical Electrodes market is valued at USD 1150.04 million in 2018 and expected to reach USD 1503.21 million by 2025 with a CAGR of 3.90% over the forecast period.
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Market Analysis of Medical Electrode –
Medical electrodes transfer the energy of ionic currents into electrical current in the body. Medical electrodes are non-surgical and include a metal, lead and electrode containing plate. Patients suffering from various diseases such as neurology and cardiology related problem requires continuous monitoring, medical electrodes are used with monitoring systems to provide a diagnosis and continuous monitoring of such patients. It is used in the field of general surgery, orthopedic surgery, cosmetic surgery, cardiovascular surgery and so on.
The regions covered in this Medical electrode Market report are North America, Europe, Asia-Pacific and Rest of the World. On the basis of country level, the market of Medical electrode is sub divided into U.S., Mexico, Canada, U.K., France, Germany, Italy, China, Japan, India, South East Asia, Middle East Asia (UAE, Saudi Arabia, Egypt) GCC, Africa, etc.
Key Players -
Some major key players for global Medical electrode market are General Electric Company, 3M, Medtronic Plc, Ambu A/S, CONMED Corporation, Koninklijke Philips NV, Natus Medical Incorporated, Compumedics Limited, Rhythmlink International LLC, Nihon Kohden Corporation, Lepu Medical Technology, Biotronik SE & Co. KG Zoll Medical Corporation, Abbott Laboratories, Oscor Inc., OSYPKA AG, Pacetronix Limited, Boston Scientific Corporation and others.
Market Dynamics –
Increasing use of medical electrodes in the diagnosis of cardiological and neurophysiological disorders is one of the primary factors for the rise in growth of the medical electrodes market. According to WHO, in 2016 17.9 million people died from cardiovascular diseases (CVDs), representing 31% of all global deaths. Out of these deaths, 85% are due to heart attack and stroke. Some of the major diseases that need medical electrodes are Parkinson’s disease, Alzheimer’s disease, heart disorders, brain disorders, gout and body ache. This will lead to increased rate of hospitalization, leading to growing demand of medical electrodes. However, issues related to biocompatibility with medical electrodes are one of the primary factors restraining the growth of this market. Medical electrodes are also becoming important majorly in the treatment of neurological syndromes such as Alzheimer’s and Parkinson’s, ensuring stable growth opportunities for the global market.
Market Segmentation -
By Type:
Wet, Dry, Needle
By Applications:
Cardiology, Neurophysiology, Sleep Disorders, Intraoperative Monitoring
By End-Users:
Hospitals, Diagnostic Centers
The global Medical electrode market is segmented into North America, Europe, Asia-Pacific and Rest of the World (ROW). North America dominates medical electrode market due to factors such as high occurrence of neurological and cardiovascular disorder and increasing awareness about the benefits of early diagnosis. According to American Heart Association, approximately 84 million people in this country suffer from some form of cardiovascular disease, causing about 2,200 deaths a day, averaging 1 death in every 40 seconds. Such kind of chronic diseases may generate lucrative revenue in medical electrode market over forecast period in this region.
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