Global Medical Electrodes Market, By Usability (Disposable Medical Electrodes, Reusable Medical Electrodes),Technology (Wet Electrodes, Dry Electrodes, Needle Electrodes), Procedure (Electrocardiography, Electroencephalography, Electromyography), Application (Cardiology, Neurophysiology, Sleep Disorders, Intraoperative Monitoring )
Market Analysis: Global Medical Electrodes Market
The Global Medical Electrodes Market is expected to reach USD 732.4 billion by 2025, from USD 583.2 billion in 2017 growing at a CAGR of 4.7% during the forecast period of 2018 to 2025. The upcoming market report contains data for the historic year 2016, the base year of calculation is 2017 and the forecast period is 2018 to 2025.
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Market Definition: Global Medical Electrodes Market
Medical Electrode transfers the energy of ionic current in the body into electrical current which is amplified, diagnosis of disease. Medical electrode is useful in diagnosis of ocular, nervous, cardiac, and muscular diseases.
In 2018, Nissha acquired U.S based contract manufacturer RSS Design LLC. By this acquisition company increased focused on R&D and marketing activities, outsource the manufacturing process. Medical electrode device work by the provision of an electrical contact between apparatus which is used to monitor activities and patients.
As per the centre for disease control and prevention in 2017, approximately 610,000 people suffer from heart disease in U.S and as per the published article in 2017, around 92.1 million adult suffer from cardiovascular disease.
Major Market Drivers and Restraints:
- Increasing incidence of neurological and cardiovascular diseases.
- Rising investment in R&D activities.
- Rising preference of ambulatory and home health care.
- Increasing popularity of nanotechnology.
- High cost of product hinders the growth of market.
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Market Segmentation: Global Medical Electrodes Market
- The global medical electrodes market is segmented based on usability, technology, procedure, application, geographical segments.
- Based on usability, the market is segmented into disposable medical electrodes, reusable medical electrodes.
- Based on technology, the market is segmented into wet electrodes, dry electrodes, needle electrodes.
- Based on procedure, the market is segmented into electrocardiography (ECG), electroencephalography (EEG), electromyography (EMG), other procedures.
- Based on application, the market is segmented into cardiology, neurophysiology, sleep disorders intraoperative monitoring, other applications
- Based on geography, the market report covers data points for 28 countries across multiple geographies namely North America & South America, Europe, Asia-Pacific and, Middle East & Africa. Some of the major countries covered in this report are U.S., Canada, Germany, France, U.K., Netherlands, Switzerland, Turkey, Russia, China, India, South Korea, Japan, Australia, Singapore, Saudi Arabia, South Africa and, Brazil among others
Key Developments in the Market:
- In 2017, Heraeus Medical Components LLC acquired Biotectix LLC. This acquisition enhanced the performance of sensing and stimulation of electrode in diagnostic and therapeutic medical devices.
- In 2012, Ambu acquired Unomedical’s. By this acquisition company strengthen of their product portfolio in emerging countries.
Competitive Analysis: Global Medical Electrodes Market
The global medical electrodes market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of global medical electrodes market for global, Europe, North America, Asia Pacific and South America.
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