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Published Date: 2014-06-02Number of Pages: 125

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

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. 

therapeutic-electrodes-for-medical-devices-market


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


 
 
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