Disposable ECG Electrodes Market: Introduction
- The electrical signal from the heart is recorded by an electrocardiogram. Electrodes are placed on the chest to record the heart's electrical signals and to determine the effect of medication, the regularity of heartbeats, and to diagnose the heart rate. The electrical signals are caused due to the heartbeat. Disposable ECG electrode consists of an electrode buckle, conductive gel, and a foam base lining material. ECG electrodes are utilized for various check-ups and medical procedures. They are reliable predictors of ailments and disorders. The onset of different forms of heart disease can be predicted through ECG recordings using the readings and by the calculation of position and size measurements of various chambers of the heart.
- The global disposable ECG electrodes market can be segmented based on product, distribution channel, and region. In terms of product, the market can be categorized into a flat paper-thin sticker and a self-adhesive circular pad. In terms of distribution channel, the market can be categorized into hospitals and clinics, diagnostic centers, and ambulatory surgical centers, and others.
Key Drivers, Restrains, and Opportunities of Global Disposable ECG Electrodes Market
- Increase in prevalence of cardiovascular disorders, all over the world, drives the global disposable ECG electrodes market. Additionally, rise in preference for home and ambulatory healthcare and increase in investments in medical device research propel the global disposable ECG electrodes market.
- The whole world is presently struggling with the COVID-19 pandemic. This infection leads to pneumonia, severe and acute respiratory disorders, multiple organ failure, and in severe cases death. The geriatric population is more prone to COVID-19. According to a journal, The Neurodiagnostic, published in May 2020, disposable ECG electrodes should be used a maximum number of times on patients with COVID-19. This was also stated in updated EEG guidelines stated by the American Clinical Neurophysiology Society (ACNS). This is likely to drive the disposable ECG electrodes market. Governments of developing countries are making significant investments to modernize healthcare infrastructure in their respective countries, which is likely to increase access to healthcare. This is expected to further fuel the global disposable ECG electrodes market. An increase in the prevalence of chronic diseases such as cardiology in developing countries presents lucrative opportunities for the global disposable ECG electrodes market.
North America to Capture Major Share of Global Disposable ECG Electrodes Market
- The global disposable ECG electrodes market can be segmented into five major regions: North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America is projected to account for a dominant share of the global market between 2017 and 2031. This is attributed to an increase in heart diseases. The market in Europe is estimated to expand at a rapid pace from 2021 to 2031. An increase in product launches in countries in Asia Pacific such as Japan and China is likely to drive the demand for disposable ECG electrodes in the next few years.
Key Players Operating in Global Disposable ECG Electrodes Market
The global disposable ECG electrodes market is highly concentrated due to the presence of key players. Several manufacturers hold a major share in their respective regions. Growth strategies adopted by leading players are likely to drive the global disposable ECG electrodes market.
Major players operating in the global Disposable ECG Electrodes market are listed below:
- Nikomed USA
- Cardinal Health
- BPL Medical Technologies
- Medico Electrodes International Ltd
- Nissha Medical Technologies
- CareFusion (Becton, Dickinson and Company)
- Ambu A/S
- Bio-Protech inc.
Global Disposable ECG Electrodes Market: Research Scope
Global Disposable ECG Electrodes Market, by Product type
- Paper-Thin Sticker
- Self-Adhesive Circular Pad
Global Disposable ECG Electrodes Market, by Distribution Channel
- Hospitals and Clinics
- Diagnostic Centers
- Ambulatory Surgical Centers
Global Disposable ECG Electrodes Market, by Region
- North America
- Rest of Europe
- Asia Pacific
- Australia & New Zealand
- Rest of Asia Pacific
- Latin America
- 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
- 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.