This report aims to provide detailed insights
into the global medical electrodes market. It provides valuable information on
the type, procedure, application, and region in the market. Furthermore, the
information for these segments, by region, is also presented in this report.
Leading players in the market are profiled to study their product offerings and
understand the strategies undertaken by them to be competitive in this market.
Expected
Revenue Growth:
[208 Pages Report] The medical electrode market is projected to reach USD 2.1 billion by 2026 from USD 1.7
billion in 2021, at a CAGR of 4.3%
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Key Factors Driving Market Growth:
Growth in the medical
electrodes market is primarily driven by the rising incidence of neurological
& cardiovascular disorders, increasing investments in research for medical devices,
and growing preference for home & ambulatory care services. Emerging
markets in Asian countries are expected to offer strong growth opportunities
for players in the market.
Rising incidence of neurological &
cardiovascular disorders
The incidence of neurological & cardiovascular
diseases and sleep disorders has significantly increased over the years. This
increase has, in turn, driven the volume of diagnostic and treatment procedures
conducted. Thus, the increasing demand for these procedures is likely to drive
market growth. For instance, According to the World Health Organisation (WHO),
cardiovascular disease (CVD) is a leading cause of death and disability
worldwide. Globally, 17.9 million deaths due to CVD were reported in 2016; this
figure is projected to increase to 23.6 million deaths by 2030.
The wet electrode segment dominated the Medical Electrodes
Market in 2020.
Based on technology, the medical electrodes market
is categorized into dry electrodes, wet electrodes, and needle electrodes. The
wet electrodes segment accounted for the largest share of the global medical
electrodes market in 2020. The large share of this segment can be attributed to
the greater preference for the high signal quality provided by wet electrodes.
North America to
dominate the market followed by Europe:
The medical electrodes market is
segmented into North America, Europe, the Asia Pacific, and the Rest of the
World. In 2020, North America was the largest regional segment of the overall
market, followed by Europe. The large share of the North American market is
attributed to factors such as the growing focus of technological advancements
in medical electrodes, rising geriatric population, the increasing incidence of
chronic diseases, and high healthcare expenditure in this region.
Europe is
expected to hold the second largest share of this market. Factors such as
presence of a well-established healthcare industry, significant funding for
life sciences and medical research, rising geriatric population, and increasing
incidence of neurodegenerative and cardiovascular disorders in several European
countries are expected to fuel the market growth in this region.
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The Medical Electrodes Market is highly competitive with the presence
of several small and big players. Some of the major players in the market
include Cardinal Health (US), 3M
(US), ZOLL Medical Corporation (US), Medtronic (Ireland), Ambu A/S (Denmark),
Natus Medical, Inc. (US), Koninklijke Philips N.V. (Netherlands), B. Braun
Melsungen AG (Germany), CONMED Corporation (US), GE Healthcare (US),
Cognionics, Inc. (US), Nihon Kohden Corporation (Japan), Rhythmlink
International, LLC (US), Compumedics Limited (Australia), Nissha Medical
Technologies (Japan), Boston Scientific Corporation (US), Medline Industries
(US)