Market Research Reports

Electrodes for Medical Devices Market (Diagnostic Electrodes - ECG, EEG, EMG, ERG and Fetal Scalp Electrodes, Therapeutic Electrodes - TENS, Pacemakers, Defibrillators, Electrosurgical and Other Electrodes) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 - 2019

125pages
Published Date: 2014-06-02

Description



The medical electrodes industry is encountering a swift pace of technological advancements, which has resulted in the commercialization of therapeutic electrodes and novel diagnostics. Rising occurrences of cardiac disorders in addition to various neurological disorders have led to a surging demand for efficient diagnosis and treatment methods that have led to the development of dependable and flawless diagnostic and therapeutic platforms. This encourages the adoption of efficient and highly convenient electrodes. 

The report provides extensive and reliable information on the electrodes for medical devices market. Insights by prominent industry experts has been conferred, forming the base of integral corporate strategies. Historical activity of the electrodes for medical devices market and statistics regarding future growth are presented to aide businessmen while formulating lucrative business decisions. 

Analysis tools such as value chain analysis, Porter’s five forces analysis, and SWOT analysis have been employed in the study, detailing the various aspects of the electrodes for medical devices market. The report also describes strategic propositions that can be adopted by industry players for progressive growth in the global electrodes for medical devices market.

Overview of the Electrodes for Medical Devices Market

Devices that convert ionic potential into electrical potential are known as electrodes. The electrodes utilized in medical devices, which can be used to investigate and treat various disorders and ailments, enable the detection of various chemical reactions in neurons and muscle cells of the patients. Additionally, electrosurgical electrodes can also use the alternating current of radiofrequency to carry out minimally invasive surgical procedures. 

The medical industry utilizes numerous types of electrodes such as fetal scalp electrodes, electrocardiography (ECG) electrodes, TENS electrodes, electroencephalography electrodes, pacemaker electrodes, and others. The opportunity for growth and development for the manufacturers of electrodes is to amplify their accuracy and performance in detection and monitoring. Technological advancements in medical device electrodes are majorly aimed at improving patient comfort and enhancing tissue interface of electrodes for augmented stimulation and recording. Efforts also target advancement of cost-effective electrodes with superior electrical performance.

Geographical analysis explains the market trends focused on four key regions of the global market, namely North America, Europe, Asia Pacific, and Rest of the World (RoW). North America and Europe led the global electrodes for medical devices market, constituting over 60% of the overall market in 2012. 

The key factors driving the expansion of the electrodes for medical devices market are progressive technological developments, increased inclination towards disposable electrodes and elevated adoption of novel electrode technologies. However, deficit of standardized reimbursement policies and rigid regulatory barriers for consent are a few of the factors that could hamper the development of the electrodes for medical devices market.

It has been stated by the WHO that the number of deaths due to cardiovascular diseases is predicted to reach 23 million by 2030.  This has directly resulted in increased demand for novel diagnostic and therapeutic methodologies. 

Key players in the Electrodes for Medical Devices Market

The report describes business verticals of the leading players in the market: Ambu A/S, M Company, CONMED Corporation, Natus Medical, Inc., and Philips Healthcare Medtronic, Inc.

Key segments of the Electrodes for Medical Devices Market
  • Diagnostic Electrodes for Medical Devices Market, by Product Type
  • ECG Electrodes
  • EEG Electrodes
  • EMG Electrodes
  • ERG Electrodes
  • Fetal Scalp Electrodes
  • Others
Therapeutic Electrodes for Medical Devices Market, by Product Type
  • TENS Electrodes
  • Pacemaker Electrodes
  • Defibrillator Electrodes
  • Electrosurgical Electrodes
  • Others
Major geographies analyzed under this research report are: 
  • Europe
  • North America 
  • Asia Pacific 
  • Rest of the World 
This report gives you access to decisive data such as:
  • Market growth drivers 
  • Factors limiting market growth
  • Current market trends 
  • Market structure
  • Market projections for the coming years 
Key highlights of this report:
  • Overview of key market forces propelling and restraining market growth 
  • Up-to-date analyses of market trends and technological improvements
  • Pin-point analyses of market competition dynamics to offer you a competitive edge
  • An analysis of strategies of major competitors 
  • An array of graphics and SWOT analysis of major industry segments 
  • Detailed analyses of industry trends
  • A well-defined technological growth map with an impact-analysis 
  • Offers a clear understanding of the competitive landscape and key product segments

Table of Contents


Table of Contents

Chapter 1 Introduction
1.1 Report Description
1.2 Research Methodology
      1.2.1 Sources
               1.2.1.1 Secondary Research
               1.2.1.2 Primary Research
               1.2.1.3 Models
               1.2.1.4 Assumptions
1.3 Market Segmentation
1.4 List of Abbreviations

Chapter 2 Executive Summary
2.1 Comparative Analysis: Global Electrodes for Medical Devices Market, by Geography, 2012 & 2019 (Value %)

Chapter 3 Market Overview
3.1 Introduction
3.2 Classification of Medical Electrodes
3.3 Applications of Electrodes
3.4 Comparative Analysis Of Types Of Electrodes
3.5 Factors Affecting the Selection of Electrodes
3.6 Market Potential of Electrodes for Medical Devices
3.7 Disposable and Reusable Electrodes Market Scenario
3.8 Future Scenario of Electrodes for Medical Devices
3.9 Market Dynamics
      3.9.1 Market Drivers
              3.9.1.1 Growing demand for portable medical devices to curb rising hospital and healthcare cost will boost medical electrodes market
              3.9.1.2 Need for minimally invasive surgical technologies upsurge demand for ablation electrodes
              3.9.1.3 Disposable electrodes in demand due to health and safety concerns
     3.9.2 Market Restraints
              3.9.2.1 Electric burns due to overheating and lack of biocompatibility tests affecting proper utilization and acceptance of electrodes and associated devices
              3.9.2.2 FDA reclassification of pacemaker electrodes as high risk devices led to extended and complicated pre-market approval process
     3.9.3 Market Opportunities
              3.9.3.1 Nanotechnology- An upcoming trend in medical device electrode market
3.10 Porter’s Five Force Analysis
        3.10.1 Bargaining Power of Suppliers
        3.10.2 Bargaining Power of Buyers
        3.10.3 Threat of New Entrants
        3.10.4 Threat of Substitutes
        3.10.5 Competitive Rivalry
3.11 Market Attractiveness Analysis
3.12 Global Diagnostic and Therapeutic Electrodes for Medical Devices Market
        3.12.1 Global Diagnostic and Therapeutic Electrodes for Medical Devices Market Revenue, by Segments, 2011-2019 (USD Million)
3.13 Competitive Landscape
        3.13.1 Market Share by Key Players, 2012 (Value %)

Chapter 4 Global Diagnostic Electrodes for Medical Devices Market, by Product Type
4.1 Overview
        4.1.1 Global Diagnostic Electrodes for Medical Devices Market Revenue, by Product Type, 2011-2019 (USD Million)
4.2 Comparative Analysis: Global Diagnostic Electrodes for Medical Devices Market, By Product Type, 2012 & 2019 (Value %)
4.3 Electrocardiography (ECG) Electrodes
        4.3.1 Global ECG Electrodes Market Revenue, 2011- 2019 (USD Million)
4.4 Electroencephalography (EEG) Electrodes
        4.4.1 Global EEG Electrodes Market Revenue, 2011- 2019 (USD Million)
4.5 Electromyography (EMG) Electrodes
        4.5.1 Global EMG Electrodes Market Revenue, 2011-2019 (USD Million)
4.6 Electroretinography (ERG) Electrodes
        4.6.1 Global ERG Electrodes Market Revenue, 2011-2019 (USD Million)
4.7 Fetal Scalp Electrodes
        4.7.1 Global Fetal Scalp Electrodes Market Revenue, 2011-2019 (USD Million)
4.8 Others
        4.8.1 Global Others Market Revenue, 2011-2019 (USD Million)

Chapter 5 Global Therapeutic Electrodes for Medical Devices Market, by Product Type
5.1 Overview
        5.1.1 Global Therapeutic Electrodes for Medical Devices Market Revenue, by Product Type, 2011 – 2019 (USD Million)
5.2 Comparative Analysis: Global Therapeutic Electrodes for Medical Devices Market, by Product Type, 2012 & 2019 (Value %)
5.3 Transcutaneous Electric Nerve Stimulators (TENS) Electrodes
        5.3.1 Global TENS Electrodes Market Revenue, 2011-2019 (USD Million)
5.4 Pacemaker Electrodes
        5.4.1 Global Pacemaker Electrodes Market Revenue, 2011-2019 (USD Million)
5.5 Defibrillator Electrodes
        5.5.1 Global Defibrillator Electrodes Market Revenue, 2011-2019 (USD Million)
5.6 Electrosurgical Electrodes
        5.6.1 Global Electrosurgical Electrodes Market Revenue, 2011-2019 (USD Million)
5.7 Others
        5.7.1 Global Others Market Revenue, 2011-2019 (USD Million)

Chapter 6 Global Electrodes for Medical Devices Market, by Geography
6.1 Overview
        6.1.1 Global Electrodes for Medical Devices Market Revenue, by Geography, 2011-2019 (USD Million)
6.2 North America
        6.2.1 North America Electrodes for Medical Devices Market Revenue, 2011-2019 (USD Million)
6.3 Europe
        6.3.1 Europe Electrodes for Medical Devices Market Revenue, 2011-2019 (USD Million)
6.4 Asia Pacific
        6.4.1 Asia-Pacific Electrodes for Medical Devices Market Revenue, 2011-2019 (USD Million)
6.5 Rest of the World (RoW)
        6.5.1 RoW Electrodes for Medical Devices Market Revenue, 2011-2019 (USD Million)

Chapter 7 Recommendations
7.1 Long term contracts with medical device manufacturers to strengthen the market presence
7.2 Enhancing distribution networks
7.3 Focus on enhancing the performance of electrodes

Chapter 8 Company Profiles
8.1 3M Company
        8.1.1 Company Overview
        8.1.2 Financial Overview
        8.1.3 Product Portfolio
        8.1.4 Business Strategies
        8.1.5 Recent Developments
8.2 Ambu A/S
        8.2.1 Company Overview
        8.2.2 Financial Overview
        8.2.3 Product Portfolio
        8.2.4 Business Strategies
        8.2.5 Recent Developments
8.3 Asahi Kasei Corporation
        8.3.1 Company Overview
        8.3.2 Financial Overview
        8.3.3 Product Portfolio
        8.3.4 Business Strategies
        8.3.5 Recent Developments
8.4 C. R. Bard, Inc.
        8.4.1 Company Overview
        8.4.2 Financial Overview
        8.4.3 Product Portfolio
        8.4.4 Business Strategies
        8.4.5 Recent Developments
8.5 CONMED Corporation
        8.5.1 Company Overview
        8.5.2 Financial Overview
        8.5.3 Product Portfolio
        8.5.4 Business Strategies
        8.5.5 Recent Developments
8.6 Covidien plc
        8.6.1 Company Overview
        8.6.2 Financial Overview
        8.6.3 Product Portfolio
        8.6.4 Business Strategies
        8.6.5 Recent Developments
8.7 Katecho, Inc.
        8.7.1 Company Overview
        8.7.2 Financial Overview
        8.7.3 Product portfolio
        8.7.4 Business Strategies
        8.7.5 Recent Developments
8.8 Medtronic, Inc.
        8.8.1 Company Overview
        8.8.2 Financial Overview
        8.8.3 Product Portfolio
        8.8.4 Business Strategies
        8.8.5 Recent Developments
8.9 GE Healthcare Ltd.
        8.9.1 Company Overview
        8.9.2 Financial Overview
        8.9.3 Product Portfolio
        8.9.4 Business Strategies
        8.9.5 Recent Developments
8.10 Philips Healthcare
        8.10.1 Company Overview
        8.10.2 Financial Overview
        8.10.3 Product Portfolio
        8.10.4 Business Strategies
        8.10.5 Recent Developments
8.11 Leonhard Lang GmbH
        8.11.1 Company Overview
        8.11.2 Financial Overview
        8.11.3 Product Portfolio
        8.11.4 Business Strategies
        8.11.5 Recent Developments
8.12 Natus Medical Incorporated
        8.12.1 Company Overview
        8.12.2 Financial Overview
        8.12.3 Product Portfolio
        8.12.4 Business Strategies
        8.12.5 Recent Developments
8.13 Nikomed USA Inc.
        8.13.1 Company Overview
        8.13.2 Financial Overview
        8.13.3 Product Portfolio
        8.13.4 Business Strategies
        8.13.5 Recent Developments
8.14 Rhythmlink International, LLC
        8.14.1 Company Overview
        8.14.2 Financial Overview
        8.14.3 Product Portfolio
        8.14.4 Business Strategies
        8.14.5 Recent Developments

List of Figures

FIG. 1 Electrodes for Medical Devices Market Segmentation
FIG. 2 Global Diagnostic Electrodes for Medical Devices Market, by Product Type, 2012 (USD Million)
FIG. 3 Global Therapeutic Electrodes for Medical Devices Market, by Product Type, 2012 (USD Million)
FIG. 4 Comparative Analysis: Global Electrodes for Medical Devices Market, by Geography, 2011 & 2018 (Value %)
FIG. 5 Classification Of Medical Electrodes
FIG. 6 Applications Of Electrodes
FIG. 7 Comparative Analysis of Types Of Electrodes
FIG. 8 Factors Affecting the Selection of Electrodes
FIG. 9 Disposable and Reusable Electrodes for Medical Devices Market : Graphical Representation
FIG. 10 Porter’s Five Forces Analysis: Global Electrodes for Medical Devices Market
FIG. 11 Market Attractiveness Analysis: Global Electrodes for Medical Devices Market, by Geography
FIG. 12 Market Share Analysis: Electrodes for Medical Devices Market, 2012 (Value %)
FIG. 13 Comparative Analysis: Global Diagnostic Electrodes for Medical Devices Market, By Product Type, 2012 & 2019 (Value %)
FIG. 14 Global ECG Electrodes Market Revenue, 2011 – 2019 (USD Million)
FIG. 15 Global EEG Electrodes Market Revenue, 2011 – 2019 (USD Million)
FIG. 16 Global EMG Electrodes Market Revenue, 2011 – 2019 (USD Million)
FIG. 17 Global ERG Electrodes Market Revenue, 2011 – 2019 (USD Million)
FIG. 18 Global Fetal Scalp Electrodes Market Revenue, 2011 – 2019 (USD Million)
FIG. 19 Global Others Market Revenue, 2011 – 2019 (USD Million)
FIG. 20 Comparative Analysis: Global Therapeutic Electrodes for Medical Devices Market, by Product Type, 2012 & 2019 (Value %)
FIG. 21 Global TENS Electrodes Market Revenue, 2011 – 2019 (USD Million)
FIG. 22 Global Pacemaker Electrodes Market Revenue, 2011 – 2019 (USD Million)
FIG. 23 Global Defibrillator Electrodes Market Revenue, 2011 – 2019 (USD Million)
FIG. 24 Global Electrosurgical Electrodes Market Revenue, 2011 – 2019 (USD Million)
FIG. 25 Global Others Market Revenue, 2011 – 2019 (USD Million)
FIG. 26 North America Electrodes for Medical Devices Market Revenue, 2011 – 2019 (USD Million)
FIG. 27 Europe Electrodes for Medical Devices Market Revenue, 2011 – 2019 (USD Million)
FIG. 28 Asia-Pacific Electrodes for Medical Devices Market Revenue, 2011 – 2019 (USD Million)
FIG. 29 RoW Electrodes for Medical Devices Market Revenue, 2011 – 2019 (USD Million)
FIG. 30 3M Company: Net Sales, 2010 – 2012 (USD Million)
FIG. 31 Ambu A/S:  Annual Revenue, 2010 – 2012 (USD Million)
FIG. 32 Asahi Kasei Corporation: Net Sales: 2010– 2012(USD million)
FIG. 33 C.R.Bard, Inc.,:  Annual Revenue, 2010 – 2012 (USD Million)
FIG. 34 Conmed Corporation:  Annual Revenue, 2010 – 2012 (USD Million)
FIG. 35 Covidien plc:  Annual Revenue, 2010 – 2012 (USD Million)
FIG. 36 Medtronic, Inc.,:  Annual Revenue, 2010 – 2012 (USD Million)
FIG. 37 GE Healthcare, Ltd.:  Annual Revenue, 2010 – 2012 (USD Million)
FIG. 38 Philips Healthcare, Ltd.:  Annual Revenue, 2010 – 2012 (USD Million)
FIG. 39 Natus Medical Incorporated: Annual Revenue, 2010 – 2012 (USD Million)

List of Tables

TABLE 1 List of Abbreviations
TABLE 2 Market Snapshot: Global Electrodes for Medical Devices Market
TABLE 3 Global Diagnostic and Therapeutic Electrodes Devices Market Revenue, by Segments, 2011-2019 (USD Million)
TABLE 4 Global Diagnostic Electrodes for Medical Devices Market Revenue, by Product Type, 2011 – 2019 (USD Million)
TABLE 5 Global Therapeutic Electrodes for Medical Devices Market Revenue, by Product Type, 2011 – 2019 (USD Million)
TABLE 6 Global Electrodes for Medical Devices Market Revenue, by Geography, 2011 – 2019 (USD Million)

Free Market Analysis


Electrodes are conductors capable of passing energy signals from one medium to another i.e. from a power source to a material or device. The electrodes are composed especially of metals such as copper, zinc, silver, nickel, cadmium, manganese oxide and others. In medical applications electrodes facilitate diagnosis as well as treatment of several disease conditions. For instance electrocardiography ECG electrodes are employed to diagnose cardiac disorders whereas electrosurgical electrodes are deployed in various surgeries to ensure precise incisions with minimal loss of blood. 

The industry for medical electrodes is witnessing a rapid pace of technological advances that result in the commercialization of novel diagnostic and therapeutic electrodes. Increasing incidences of cardiac disorders coupled with several neurological disorders create an escalated demand for effective diagnosis and treatment approaches that lead to development of reliable and accurate diagnostic and therapeutic platforms. This in turn results in introduction of high patient compliant and efficient electrodes. According to the data enumerated and updated in the year 2013 by World health Organization (WHO), approximately 6.2 million people die out of strokes annually and more than 50 million people have epilepsy worldwide. The organization (WHO) also states that the number of deaths due to cardiovascular diseases is expected to reach 23 million by the year 2030. Hence, these alarming disorder rates create a high demand for novel and innovative diagnostic and therapeutic methodologies. 

The major factors contributing towards proliferation of electrodes are consistent technological advances, high preference towards disposable electrodes over reusable and increased introduction of novel electrode technologies. Increased preference towards disposable electrodes is attributed to enhanced features of electrodes such as user friendly, low manufacturing costs and low risk of hospital acquired infections as compared to reusable electrodes. In addition, widened application range of therapeutic electrodes especially in aesthetic surgeries, RF ablation procedures etc further propel the growth of the market. On the contrary lack of standardized reimbursement policies coupled with stringent regulatory barriers for approval are some of the factors that might encumber the growth of electrodes market. The global electrodes market for medical devices market was valued at USD 633.6 million in 2012 and is estimated to reach USD 1,451.2 million by 2019 growing at a CAGR of 11.7% from 2013 to 2019.

Diagnostic electrodes facilitate the diagnosis of several medical conditions such as cardiac disorders, neurological, fetal monitoring etc. The diagnostic electrode segment is further classified into five major types. ECG electrodes are anticipated to record highest growth rate of over 3% followed by fetal scalp electrodes throughout the forecast period from 2013 to 2019. In addition, extensive usage of these electrodes as compared to others and consistent technological sophistications further fuel the market growth. Some of the recent technological advancements include use of textile electrodes attached to shirts or other form of clothes rendering continuous cardiac monitoring which nowadays is mostly used by athletes and soldiers to keep a check on their heart activity. 

Innovation and novelty in design and features of therapeutic electrodes provide lucrative growth prospects for the overall medical electrodes market. This can be evident from the introduction of all these factors that encourage growth and uptake of these devices worldwide. Electrosurgical electrodes and defibrillator electrodes are estimated to record highest growth rates during the forecast period. The major reason being the development of wearable defibrillator by ZOLL Medical Corporation which can continuously monitor the cardiac rhythms of the wearer and occurrence of any abnormality triggers the alarm and renders the electrical shock to the user in order to regain the normal heart functionality.  

Geographical landscape elucidates the market trends based on four major geographies namely North America, Europe, Asia-Pacific and Rest of the World (RoW). North America and Europe dominated the global electrodes for medical devices market and accounted for largest percentage of the total market accounting for more than 60% of the total market in the year 2012. This is attributed to the presence of technologically sophisticated medical devices that in turn supports the presence of technologically advanced electrodes along with continuous product modifications resulting in introduction of efficient electrodes such as dry electrodes and hydrogel electrodes having enhanced adhesion capability and better conduction features as compared to gel based electrodes. 

In addition alarming rates of cardiac disorders and increased rate of diagnosis in these regions will further accelerate the growth and uptake of medical electrodes. Asia-Pacific region has been estimated to foresee the highest growth rate during the forecast period from 2013 to 2019. The reason being the growing trend for medical tourism in this region, rise in disposable income and increase in the number of smokers in the Asian region will boost the demand for medical device electrodes in near future. 

The overall electrodes market is highly fragmented with the presence of both established and emerging companies in this field. Some of the prominent market players in this market are 3M Company, Ambu A/S, CONMED Corporation, Philips Healthcare Medtronic, Inc., and Natus Medical, Inc. among others. Rigorous investment by the companies towards developing efficient diagnostic and therapeutic platforms is evident for promising growth prospects in this market. 

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