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Medical Electrodes Market Size, COVID-19 Impact Analysis, Regional Outlook, Application Potential, Price Trends, Competitive Market Share & Forecast, 2022 – 2028

  • Report ID: GMI4177

Medical Electrodes Market Size will observe significant prominence during the period 2022-2028 due to shifting consumer inclination towards home & ambulatory care services. The growing prevalence of neurological and cardiovascular disorders has led to the rising number of R&D investments for medical devices along with various government-led favorable policies. The fast-growing geriatric population and the increasing focus on minimally invasive surgeries will act as significant contributors to the market development.
 

Medical electrodes are devices that transfer the ionic current energy in the body to electrical current that is later amplified and examined for the diagnosis of several cardiac, ocular, nervous, and muscular diseases. Rising progressions in nanotechnology along with the growing investments by several biopharmaceutical companies will influence the product demand spurt.
 

With respect to usability, the demand for disposable medical electrodes will rise through 2028 driven by their swelling adoption to offer higher affordability and limited risk of cross-contamination. On account of their disposable nature and ease of use, these electrodes are considered suitable for clinical and laboratory applications. Apart from offering other features to improve the effectiveness of the test, they are utilized for measuring brain activity in environments such as the patient's home. Rising utility in clinical research studies is another prominent attribute for segment growth.
 

The electrocardiography (ECG) modality medical electrodes market revenue will expand with the surging number of cardiology diseases worldwide. These electrodes are mainly placed on the patient’s chest to record the electrical signals of the heart in order to check for different heart conditions. The growing emphasis on early diagnosis will also boost the market expansion.
 

Cardiology application is expected to emerge as a major profitable ground for the medical electrodes market owing to the increasing instances of cardiovascular diseases across the globe. According to the WHO (World Health Organization), cardiovascular diseases (CVDs) can be considered a leading cause of death globally and accounted for over 17.9 million deaths in 2019. Out of these deaths, nearly 85% of deaths occurred as a result of heart attacks and strokes. The rising requirement for better treatment of these diseases and early diagnosis will add a strong edge to the adoption of medical electrodes.
 

Geographically, North America will capture a significant medical electrodes market revenue share ascribing to the strong presence of favorable medical reimbursement policies. The rapidly expanding older population, and the rising burden of chronic diseases, have made way for soaring healthcare expenditure in the region. The growing utility of medical devices along with effective government policies has resulted in higher instances of technological enhancements in medical electrodes. An expanding base of multinational companies, growing healthcare awareness, and the availability of a better infrastructure are other drivers influencing the regional industry growth.
 

Some of the well-known medical electrodes manufacturers and suppliers include Dymedix, Koninklijke Philips N.V., CooperSurgical Inc., CONMED Corporation, Natus Medical Incorporated., Medtronic Plc., Ambu A/S., Cognionics Inc., Nihon Kohden Corporation, and 3M.
 

Inorganic strategies, comprising partnerships, acquisitions, and new product developments are the major marketing and growth initiatives, taken up by these participants to expand their global presence and sustain competition.
 

For instance, in April 2020, Nihon Kohden disclosed the release of its new Premium electroencephalogram (EEG) electrode, Disposable Gold Cup to the healthcare community. These electrodes assist healthcare workers in preventing cross-contamination between patients and maintaining high-quality EEG signals.
 

Impact of the COVID-19 crisis on the medical electrodes market forecast

In response to the COVID-19 pandemic, the electrodes business witnessed a sky-rocketing expansion. This is concerning the swelling adoption of various types of medical electrodes to assist in the treatment of the infection. For instance, low-cost biosensors comprising pencil graphite electrodes were utilized in the minute-scale detection of the virus. The rising number of research activities also posed a positive outlook on the market progression. To cite an instance, a research team from Aarhus University came up with a special biocompatible electrode to help in electrical muscle stimulation to limit muscle loss in the affected patients.
 

The medical electrodes market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD from 2017 to 2028 for the following segments:

Market, by Product

  • Surface electrodes
  • Needle electrodes

Market, by Usability

  • Disposable medical electrodes
  • Reusable medical electrodes

Market, by Modality

  • Electromyography (EMG)
  • Electrocardiography (ECG)
  • Electroencephalography (EEG)
  • Brainstem Auditory Evoked Potentials (BAEPS)
  • Others

Market, by Application

  • Neurophysiology
  • Cardiology
  • Sleep disorders
  • Intraoperative monitoring
  • Others

The above information is provided for the following regions and countries:

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • UK
    • France
    • Italy
    • Spain
  • Asia Pacific
    • Japan
    • China
    • India
  • Latin America
    • Brazil
    • Mexico
  • Middle East and Africa
    • Saudi Arabia
    • South Africa

 

What Information does this report contain?

Historical data coverage: 2017 to 2021; Growth Projections: 2022 to 2028.
Expert analysis: industry, governing, innovation and technological trends; factors impacting development; drawbacks, SWOT.
6-7 year performance forecasts: major segments covering applications, top products and geographies.
Competitive landscape reporting: market leaders and important players, competencies and capacities of these companies in terms of production as well as sustainability and prospects.

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