According to the report by Allied Market Research, titled, “Medical Electrodes Market by Application (Cardiology, Neurophysiology, Electrosurgery, Intraoperative Monitoring (IOM), and Sleep Study), Product Type [Surface Electrodes and Needle Electrodes)- Worldwide Opportunity Analysis and Industry Forecast, 2022″. The report provides a detailed analysis of changing market dynamics, top segments, value chain, key investment pockets, regional scenario, and competitive landscape.
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Medical electrodes are medical devices that facilitate the transfer 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 a continuous monitoring of patients suffering from various diseases and disorders.
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 of diseases, increase in geriatric population worldwide, and increase in burden of cardiology and neurological diseases is expected to boost the global medical electrodes market. Although these factors are expected to fuel the growth of medical electrodes market, elements such as a low biocompatibility of the medical electrodes is projected to hamper the growth of the market.
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According to Deepa Tatkare, Senior Research Analyst, Healthcare at Allied Market Research, “The use of medical electrodes is expected to increase in the near future, owing to the new medical applications putting high focus on early diagnosis along with new electrode indications enhancing market growth. North America dominates the global medical electrodes market, and is expected to maintain its lead throughout the forecast period, owing to the high adoption rate of medical electrodes.”
The electroencephalography (EEG) electrode segment accounted for the major share in the medical electrodes market in 2015 and is expected to continue its dominance throughout the forecast period. This segment is expected to grow at a CAGR of 3.1% from 2016 to 2022, owing to high prevalence of problems related to electrical activity of the brain worldwide.
The major companies profiled in the report includes, 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 Findings of Medical Electrodes Market:
- The IOM application segment is projected to grow at the fastest rate during the forecast period.
- North America held a dominant position in the regional landscape in 2015, occupying a share of more than one-third of the total market.
- In 2015, Europe held the second position in the regional landscape accounting for a share of the one-third of the total medical electrode market.
- The electroencephalography (EEG) electrode segment accounted for a share of one-fifth of the global medical electrode market in 2015.
- In 2015, North America dominated the global medical electrodes market, owing to the high prevalence of various cardiology and neurology diseases resulting into high adoption of medical electrodes in the region.
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