Medical Electrodes Market Would Rise to USD 2.95 Billion by 2030
Global Medical Electrodes Markereport is an excellent report that makes it possible to the HEALTHCARE industry to take strategic decisions and achieve growth objectives. HEALTHCARE industry can be highly benefited with this market research report which brings market and competitive landscape clearly into the focus and help make better decisions. In this business document, market segmentation has also been performed in detail based on various parameters that include applications, verticals, deployment model, end user, and geography. Expert solutions combined with potential capabilities make Global Medical Electrodes Market survey report outperforming for the HEALTHCARE industry.
Data models employed for the research methodology are vendor positioning grid, market time line analysis, market overview and guide, company positioning grid, company market share analysis, standards of measurement, top to bottom analysis and vendor share analysis. Not to mention, the data is collected only from the dependable sources such as journals, newspapers, company websites and annual reports of the companies on which HEALTHCARE industry can rely confidently. Businesses are highly relying on the different segments covered in Global Medical Electrodes Market research report which gives better insights to drive the business into right direction.
Data Bridge Market Research analyses that the medical electrodes market, which was USD 1.80 billion in 2022, would rise to USD 2.95 billion by 2030 and is expected to undergo a CAGR of 6.30% during the forecast period from 2023 to 2030. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.
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Numerous medical professionals highly favor medical electrodes because of their characteristics, such as sterility, affordability, and easy administration. The growth in the incidence of numerous diseases is increasing the market’s growth. There are more than 1,000 nervous system disorders, which include Alzheimer’s, dementia, migraine, epilepsy, cerebrovascular disease, tetanus, multiple sclerosis, and poliomyelitis. In addition, the initiation of advanced products such as dry and wet electrodes is gaining much acceptance from users because they adhere to the skin.
Market Overview:
A medical electrode is a type of solid electronic conductor extensively used for transferring the ionic current in the body into an electric current for biological measurements. The conductor involves a lead, a metal part, and an electrode conducting paste. It helps diagnose numerous cardiac, muscular, nervous, and ocular disorders. They have wide applications in orthopedic, cardiovascular, and cosmetics.
Opportunities
- Increasing Rate of Cardiovascular Diseases
As per the World Health Organization, an estimated 17.9 million deaths were caused by Cardio Vascular Diseases (CVDs) in 2019, representing approximately 32% of all deaths globally. Furthermore, more than three-quarters of deaths because of CVDs were witnessed in low- and middle-income countries. Therefore, the increasing patient pool of CVDs will most likely boost verticle growth in the coming years. Different testing methods, such as electrograms and electrocardiograms, help in detecting the diseases. Thus, this factor boosts market growth.
- Growing Rate of Acquisitions by Market Players
A high rate of acquisitions by several market players leads to market growth globally. For instance, Rhythmlink International, LLC, a U.S.-based medical device manufacturing company, acquired Chalgren Enterprises for an undisclosed amount in 2020. With this acquisition, both players would continue to grow the newly combined business while keeping the profile of both brands the same. Chalgren Enterprises is a U.S.-based manufacturer of electrodes for neurodiagnostic, mainly specializing in EMG electrodes. Thus, this factor boosts the market’s growing rapidly.
Restraints/Challenges
- High Cost of Technology
Some different technologies or equipment are used to detect several diseases. The increasing cost of medical electrodes. The associated machines that are used with it and the technicians who handle this equipment need to work for hours; as a result, the cost is increased as well. Therefore, these factors hamper the market growth.
This medical electrodes market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the medical electrodes market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Recent Development
- In 2021, DC-based startup iCE Neuro systems received clear approval from the United States Food and Drug Administration (U.S. FDA) for a subcutaneous electrode known as iCE-SG. It is designed to monitor the brain’s electrical activity from beneath the skin of the scalp.
Some of the major players operating in the medical electrodes market are:
- Boston Scientific Corporation (U.S.)
- 3M (U.S.)
- BD (U.S.)
- General Electric (U.S.)
- Medtronic (Ireland)
- CONMED Corporation. (U.S.)
- Koninklijke Philips N.V. (Netherlands)
- Ambu A/S. (Denmark)
- Natus Medical Incorporated (U.S.)
- NIHON KOHDEN CORPORATION (Japan)
- Compumedics Limited (Australia), VectraCor (U.S.)
- NeuroWave Systems Inc (U.S.)
- Wearable Sensing (U.S.)
- NeuroSky (South Korea)
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Medical Electrodes Market Scope
Product
- Diagnostics
- Electrocardiography (ECG) Electrodes
- Electroencephalography (EEG) Electrodes
- Electromyography (EMG) Electrodes
- Others
- Electroretinography (ERG) Electrodes
- Electrooculography (EOG) Electrodes
- Therapeutic
- Defibrillator Electrodes
- Pacemaker Electrodes
- TENS Electrodes
- Electrosurgical Electrodes
- Neuromuscular Stimulation Electrodes (NMES)
- Others
- Wound Healing Electrodes
- Blood Gas Electrodes
- Iontophoresis Electrodes
Usability
- Disposable Medical Electrodes
- Reusable Medical Electrodes
Technology
- Wet Electrodes
- Dry Electrodes
- Needle Electrodes
Procedure
- Electrocardiography (ECG)
- Electroencephalography (EEG)
- Electromyography (EMG)
- Electromyography
- Brainstem Auditory Evoked Potentials
- Other Procedures
Application
- Cardiology
- Neurophysiology
- Sleep Disorders
- Intraoperative Monitoring
- Other Applications
The report provides insights on the following pointers:
- Market Penetration: Comprehensive information on the product portfolios of the top players in the this research report
- Product Development/Innovation: Detailed insights on upcoming technologies, R&D activities, and product launches in the market
- Competitive Assessment: In-depth assessment of the market strategies, and geographic and business segments of the leading players in the market
- Market Development: Comprehensive information about emerging markets. This report analyzes the market for various segments across geographies
Top Key Topics Covered:
- Strategic Imperatives
- Factors Creating Pressure on Growth
- The Strategic Imperative
- Growth Opportunities Fuel the Growth Pipeline Engine
- Research Methodology
- Scope and Segmentation
- Research Context and Scope of Analysis
- Segmentation
- Other Techniques for This Research Report Management
- Growth Opportunity Analysis
- Growth Drivers
- Growth Restraints
- Introduction
- The Impact of the COVID-19 Pandemic and Post
- Future Growth
- Innovation Ecosystem
Continued…
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Some of the Most Important Questions Scrutinized in the Business Intelligence Report:
- What are the key growth parameters for this global market during the forecast period?
- Which key players are expected to hold the largest market share over the forecast period?
- Who are the leading vendors and manufacturers in this market?
- What are the key strategies adopted by leading players in the market for business development and geographical expansion?
- Which end-use industries can trigger high demand in the market over the forecast period?
- What are the key segments in this market?
- Which regional player will have anticipated leading the global market in terms of size?
- What is the impact of the novel coronavirus pandemic?
- Which obstacles must new players overcome in order to occupy a major position?
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