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Medical Electrodes Market Size, Share and Industry Analysis Report, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2023 – 2032

  • Report ID: GMI4177

Medical Electrodes Market size is expected to grow at a significant rate during the forecast period of 2023-2032 as customers are increasing their preference for home & ambulatory care services. The incidence of neurological and cardiovascular diseases is rising at a steady rate every year.

For example, in March 2022, the U.K. government declared an investment of USD 347 million to improve medical R&D efforts and fast-track the production of novel devices, therapies, and diagnostics. The total geriatric population is expanding across the world, which has sharpened the focus on minimally invasive surgeries, thereby enhancing the market progress over the coming years.

Medical electrodes are mainly used for the diagnosis of several ocular, cardiac, muscular, and nervous diseases. The field of nanotechnology is undergoing various advancements to develop high-performing medical devices. For instance, in October 2022, researchers at the Carnegie Mellon University developed the CMU Array – a microelectrode array for brain computer interface platforms. The solution is expected to transform the way doctors treat various neurological ailments. Such innovations will bolster the medical electrodes market adoption.

In terms of usability, medical electrodes industry is divided into disposable and reusable devices. The industry revenue from the disposable medical electrode segment is predicted to increase considerably by 2032 as they are more affordable and limit the risk of cross-contamination.

Due to their disposability and ease of use, these electrodes are suitable for laboratory and clinical applications. They are also highly versatile as they can be utilized for measuring the brain activity in a variety of environments, including a patient's home. These features are anticipated to spur the usage of these instruments, further driving the industry development.

Based on modality, medical electrodes market is segmented into electrocardiography (ECG), electromyography (EMG), brainstem auditory evoked potentials (BAEPS), and electroencephalography (EEG). The market size from the electrocardiography (ECG) modality segment is projected to record a notable CAGR through 2032.

Based on application, global medical electrodes market is bifurcated into sleep disorders, neurophysiology, cardiology, intraoperative monitoring, and others. The cardiology application will capture a sizeable market outlook during the analysis timeframe. Cardiovascular disease (CVD) cases are on the rise in several developing economies.

North America medical electrodes market will record substantial revenue during the analysis timeline due to the strong presence of high-quality healthcare infrastructure. The region’s older population is expanding at a robust pace, thereby contributing to the burden of chronic diseases. Around 95% of older adults in the U.S. suffer from at least one chronic ailment, and nearly 80% of them live with two or more health conditions. This scenario has propelled the usage of technologically advanced medical devices, thereby positively influencing the regional industry trends.

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

Inorganic landscape strategies, such as partnerships, new product developments, and acquisitions are being utilized by these firms to expand their global presence and customer base. For instance, in January 2022, Philips introduced an at-home, 12-lead ECG integrated solution for decentralized clinical trials. The solution aims to reduce patients’ burden of repetitive site visits, which can consequently improve clinical trial results.


What Information does this report contain?

Historical data coverage: 2018 to 2022; Growth Projections: 2023 to 2032.
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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