- Report ID: BMRC 429 | Number of pages: 193 | Publish Date: Jan 2020
Status: Published | Category: Healthcare | Delivery Timeline:
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.
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.
Global Medical electrode Market report is segmented on the basis of type, applications, usability, end users and by regional & country level. Based upon type, global medical electrode market is segmented into wet, dry and needle. Based on applications the medical electrode market is segmented in to cardiology, neurophysiology, sleep disorders and intraoperative monitoring. Based on usability the market is segmented into disposable and reusable. Based upon end users the market is segmented into hospitals and diagnostic centers.
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.
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.
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.
Europe holds second largest share in medical electrode market due to existence of well-established healthcare industry, significant funding in medical research and increasing health concern in this region. Asia-Pacific grow rapidly during the forecast period owing to geriatric population which will result into increase in number of cardiac, neuro and related disease which significantly relate to the medical electrode diagnosis and hence demand of this product increases in this region.
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Medical Electrodes market 2020 Industry Research, Share, Trend, Global Industry Size, Price, Future Analysis, Regional Outlook to 2025