Medical electrodes transfer the energy of ionic currents in the body into electrical currents that can be amplified, studied, and used for diagnosis of the patient’s medical condition. The make of the medical electrode comprises of lead, metal, and electrode conducting plate. These devices are combined with monitoring systems to provide diagnosis and continuous monitoring of patients suffering from various diseases and disorders.
The global medical electrodes market generated $1,054 million in 2015, and is projected to reach $1,328 million by 2022, registering a CAGR of 3.4% during the forecast period. This market is expected to witness significant growth during the forecast period due to increase in application of medical electrodes in diverse clinical areas, use of nanotechnology for development of miniaturized electrodes, increase in focus on investment to encourage R&D coupled with support from government and private organization such as National Science Foundation (NSF), rise in focus on early diagnosis, rapidly aging population worldwide, and increase in burden of cardiology and neurological diseases. Although these factors propel the growth of the market, elements such as low biocompatibility of electrodes and lack of good signal while the patient moves can pose as a restrain to the medical electrodes market.
The medical electrodes market is segmented on the basis of product type, application, modality, and region. Based on product type, the market is divided into surface and disposable electrodes. On the basis of application, medical electrodes market is segmented into cardiology, neurophysiology, electrosurgery, intraoperative monitoring (IOM), and sleep study. The cardiology medical electrodes market is further bifurcated into stress test ECG, neonatal ECG, long-term monitoring ECG, short-term monitoring EGG, and resting ECG. Further, based on the modality, the market for medical electrodes is segmented into motor evoked potentials (MEPs), somatosensory evoked potentials (SSEPs), electrocardiography (ECG), electroencephalography (EEG), electromyography (EMG), brainstem auditory evoked potentials (BAEPs), and visual evoked potentials (VEPs). The market is analyzed based on four geographical regions, which include North America, Europe, Asia-Pacific, and LAMEA.
The medical electrodes market is highly fragmented in nature with the presence of major brands as well as smaller players. The prominent players in the medical electrode market adopted product development (which included product launches and approvals) as their key strategy for expanding their share in the market and sustain the competitive environment. The major players in the medical electrodes market include CONMED, 3M Company, Koninklijke Philips N.V., Medtronic PLC, Natus Medical Incorporated, C. R. Bard, Inc., Dymedix, Ambu A/S, Cognionics Inc., and Cooper Surgical, Inc.
KEY BENEFITS MEDICAL ELECTRODES MARKET
MEDICAL ELECTRODES MARKET KEY SEGMENTS:
By Product Type
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