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Published Date: 2017-09-18Number of Pages: 170

Medical Electrodes Market (Type - Wet, Dry, Needle; Application - Cardiology, Neurophysiology, Sleep Disorders, Intraoperative Monitoring; End Use - Hospitals, Diagnostic Centers; Usability - Disposable, Reusable) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 - 2022

Global Medical Electrodes Market: Snapshot

Medical electrodes transfer current energy into electrical energy in the body and can thus be used in the detection of several diseases. Medical electrodes are used in the identification of nervous, ocular, cardiac, and muscular disorders and have gained growing demand due to their widespread use. The growing prevalence of diseases identified with the help of medical electrodes is likely to help the global medical electrodes market significantly in the coming years. The steady global healthcare industry boom is likely to aid smooth development of the global medical electronics market in the coming years, as growing influx of investment for advanced product development will allow for steady improvement in the medical electrodes industry.

According to Transparency Market Research, the global medical electrodes market is likely to rise from a 2017 valuation of US$641.3 mn to US$857 mn by 2022, exhibiting a strong 6% CAGR therein. The global medical electrodes market is helped by the promising growth prospects of the market in developed as well as developing regions, which is likely to remember a key driver for the global medical electrodes market.

medical electrodes market

Steady Improvement of Healthcare Sector in Developed Regions to Boost Medical Electrodes Market

One of the prime drivers for the global medical electrodes market is the steady improvement of the healthcare sector. Due to growing government interest as well as private investment, the healthcare sector has exhibited solid growth across developed regions such as North America and Europe, which are likely to remain key regional markets for the global medical electrodes industry. The rising amount of effort to build up a strong diagnostics sector within the healthcare sector in a number of countries is likely to drive the global medical electrodes market in the coming years.

Rising Prevalence of Cardiology, Neurophysiology Disorders Drives Demand

The rising use of medical electrodes in the diagnosis of neurophysiological and cardiological disorders is likely to be the vital driver for the global medical electrodes market in the coming years. Medical electrodes are also becoming important in the treatment of neurological diseases such as Parkinson’s and Alzheimer’s, ensuring stable growth prospects for the global medical electrodes market. Cardiology disorders dominate demand from the global medical electrodes market and are likely to remain the major contributor to the market over the coming years due to the growing prevalence of lifestyle conditions in developed Western countries.

North America to Remain Leading Regional Market for Medical Electrodes

The North America medical electrodes market was valued at US$219.7 mn in 2017 and is expected to rise to US$297.9 mn by 2022 at a robust 6.3% CAGR therein. The strong presence of medical devices industry players in North America is likely to help the region establish firm dominance over the global medical electrodes market in the coming years. The promising research and development landscape in the medical electrodes industry in North America is likely to help the market to a great extent, as continuous product improvement is the major growth tactic for players in the global medical electronics market.

Competitive Dynamics

Leading companies in the global pacemaker devices market include Abbott Laboratories, Medtronic Plc., Oscor Inc., Boston Scientific Corporation, Biotronik SE & Co. KG, Lepu Medical Technology, OSYPKA AG, Zoll Medical Corporation, and Pacetronix Limited. The global medical electrodes market is likely to retain a degree of fragmentation over the coming years due to the high number of players operating in the market. However, the competitive hierarchy of the global medical electrodes market is unlikely to change in the coming years, as established market leaders are likely to exhibit unrestrained growth.

Global Medical Electrodes Market: Overview

The report provides a comprehensive look at the dynamics of the global medical electrodes market by profiling its geographical segments, leading product types, and major players. The competitive dynamics of the medical electrodes market are assessed in detail in the report in order to shed light on the operating conditions of the medical electrodes market. The competitive analysis of the medical electrodes market provided in the report provides readers with a clear platform on which their competitive strategies, as the information in the report presents a clear picture of how things stand in the medical electrodes market at present. The detailed analysis of the geographical segmentation of the medical electrodes market will also help readers analyze the most profitable regional markets for medical electrodes.

The global medical electrodes market was valued at US$641.3 mn in 2017. Exhibiting a robust 6% CAGR between 2017 and 2022, the market is expected to rise to US$857 mn by 2025.

Global Medical Electrodes Market: Dynamics

The drivers and restraints of the global medical electrodes market are assessed in detail in the report to provide accurate information about what is making the market move. The dynamics are the medical electrodes market are dependent on a number of external factors due to the growing economic prominence of the healthcare sector, making this section vitally important for readers. The effect of various drivers and restraints on the global medical electrodes market is quantified in the report, providing readers with a clear look into what is most significantly affecting the global medical electrodes market’s growth.

The steady growth of the healthcare industry in developing regions is likely to be the major driver for the medical electrodes market in the coming years. Components such as medical electrodes require widespread presence of advanced medical infrastructure in order to be fully utilized, making the growth of the healthcare industry vital for the global medical electrodes market. Rising investment in the healthcare industry, aimed at improving the operating conditions within the industry, is thus likely to remain an important driver for the global medical electrodes market in the coming years.

Global Medical Electrodes Market: Segmentation

By product type, dry electrodes are likely to comprise the dominant share in the global medical electrodes market in the coming years. The dry electrodes segment accounted for 48.3% of the global medical electrodes market in 2017. The segment is likely to rise from a valuation of US$309.8 mn in 2017 to US$425.1 mn by 2022, exhibiting a strong 6.5% CAGR therein. The market share of the dry electrodes segment is also likely to rise over the 2017-2022 forecast period, with the segment expected to account for 49.6% of the global medical electrodes market by 2022.

Geographically, North America is expected to remain the dominant contributor to the global medical electrodes market in the coming years. The North America market was valued at US$219.7 mn in 2017 and is expected to rise to US$297.9 mn by 2022 at a 6.3% CAGR. Europe is also likely to be key to the global medical electrodes market, with the market expected to be valued at US$247.7 mn in Europe by 2022. The Europe medical electrodes market is expected to exhibit a strong 5.6% CAGR over the 2017-2022 forecast period.

Global Medical Electrodes Market: Competitive Dynamics

Leading companies in the global medical electrodes market include General Electric Company, 3M, Medtronic Plc, Ambu A/S, CONMED Corporation, Koninklijke Philips NV, Natus Medical Incorporated, Compumedics Limited, Rhythmlink International LLC, and Nihon Kohden Corporation.


 
 
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