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Cardiology Electrodes Market: Introduction

  • An electrical impulse is generated in the human heart to ensure appropriate blood flow from the heart to the other body cells. This electrical impulse can be monitored to determine whether there is a disturbance in blood flow within the human body. A cardiology electrode is a conductive pad that is applied to the skin and allows electrical current to be recorded.

Global Cardiology Electrodes Market: Key Trends, Drivers, and Opportunities

  • Rise in prevalence of cardiovascular diseases is projected to drive the global cardiology electrodes market from 2021 to 2031. According to a July 2020 article released by the National Centers for Biotechnology Information, prevalence of ischemic heart disease is increasing across the world, at a rate of 1,655 individuals per 100,000, which is expected to reach 1,845 per 100,000 by 2030.
  • Surge in number of product releases and approvals is likely to boost the growth of the global cardiology electrodes market during the forecast period. For instance, in December 2018, Nissha Co., Ltd., a Japan-based medical equipment manufacturer, introduced Vermed Claravue electrodes. These cardiology electrodes are disposable ECG electrodes, which have been prewired and could be utilized in medical applications such as cardiology.
  • Rapid research & development by market players have resulted in progression of cardiology electrodes, which is projected to fuel the growth of the global cardiology electrodes market during the forecast period. In February 2021, QT Medical, Inc., a medical device company based in the U.S., developed a new electrode-based ECG with no wire leads to reduce contact transmission during the COVID-19 pandemic.
  • The global cardiology electrodes market is anticipated to be restrained by rise in product recalls and complications associated with cardiology electrode use. In February 2021, Boston Scientific Corporation, a medical device company based in the U.S., recalled its product EMBLEM S-ICD Subcutaneous Electrode, which is implanted beneath the skin of the chest to control irregular heartbeats. This product was recalled owing to increased chances of breaking during use, which could result in the failure of this medical device and, in a worst-case scenario, cardiovascular mortality.
  • Desterilization cost of reusable electrodes is quite high. This acts as a restraint of the global cardiology electrodes market. Moreover, increase in efforts aimed at improving the diagnosis & treatment of patients with cardiac rhythm abnormalities and lowering the societal burden and improving patient outcomes present significant opportunities in the global cardiology electrodes market.

North America to Capture Major Share of Global Cardiology Electrodes Market

  • North America is projected to dominate the global cardiology electrodes market owing to increase in number of ECG procedures and rise in health care spending by the U.S. Government to treat cardiovascular illnesses. In 2018, the National Institutes of Health (NIH) in the U.S. invested US$ 2.3 Bn on R&D linked to cardiovascular illnesses for effective management and early treatment.
  • The market in Europe is anticipated to grow at a rapid pace during the forecast period due to high incidence of cardiovascular diseases such as heart attack, stroke, and heart failure. According to the American Heart Association's Heart Disease and Stroke Statistics 2020, Europe is one of the primary regions where ischemic heart disease is prominent.

Key Players Operating in Global Cardiology Electrodes Market

Major players operating in the global cardiology electrodes market are:

  • 3M
  • ADInstruments Pty Ltd.
  • Medtronic
  • Cardinal Health
  • CONMED Corporation
  • NeuroSky
  • Asahi Kasei Corporation
  • Rhythmlink International
  • Leonhard Lang USA, Inc.
  • VectraCor, Inc.
  • NeuroTherapeutics

Global Cardiology Electrodes Market: Research Scope

Global Cardiology Electrodes Market, by Product

  • Resting ECG Electrodes
  • Short-term Monitoring ECG Electrodes
  • Long-term Monitoring ECG Electrodes
  • Stress Test ECG Electrodes
  • Neonatal ECG Electrodes

Global Cardiology Electrodes Market, by Procedure

  • Electrocardiography (ECG)
  • Electroencephalography (EEG)
  • Electromyography (EMG)
  • Others

Global Cardiology Electrodes Market, by Usability

  • Disposable Medical Electrodes
  • Reusable Medical Electrodes

Global Cardiology Electrodes Market, by Application

  • Stress Test ECG
  • Neonatal ECG
  • Long-term Monitoring ECG
  • Resting ECG
  • Short-term Monitoring EGG

Global Cardiology Electrodes Market, by Region

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • France
    • U.K.
    • Italy
    • Spain
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • Australia & New Zealand
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC Countries
    • South Africa
    • Rest of Middle East & Africa

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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Cardiology Electrodes Market