The global medical electrodes market size was US$ 1.7 billion in 2021. The global medical electrodes market size is forecast to reach US$ 2.4 billion by 2030, growing at a compound annual growth rate (CAGR) of 3.6% during the forecast period from 2022 to 2030.
A medical electrode is a thin metal plate or needle that transmits electricity from an instrument to a patient for therapy or surgery. Electrodes also transfer electrical impulses from muscles, the brain, the heart, the skin, and other bodily areas to recording equipment, which can aid in the diagnosis of certain disorders. Electrocardiography (ECG) electrodes, fetal scalp electrodes, electroencephalography electrodes, transcutaneous electrical nerve stimulation (TENS) electrodes, and pacemaker electrodes are examples of electrodes. Electroencephalography (EEG) aids in the detection of any abnormalities in the brain.
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Factors Influencing Market Growth
Among the factors driving the global market include a surge in focus on early diagnosis, a rising geriatric population, and a growing burden of cardiology and neurology diseases.
The growing prevalence of chronic illnesses fuels the global medical electrodes market growth.
Increasing mortality threat associated with such disorders advances the frequency of medical diagnosis of patients. In addition, the surge in the majority of chronic diseases worldwide boosts the global market growth.
Strict government rules associated with the approval of these devices may slow down the overall market growth.
Impact Analysis of COVID-19
The COVID-19 pandemic had a negative impact on the global medical electrodes market. Due to lockdowns in numerous nations, several hospitals had to shut down. COVID-19’s proliferation wreaked havoc on the public health system. Decrease in overall use of medical electrodes as a result of a decrease in the volume of diagnostic, non-essential procedures, a decrease in routine testing, a decrease in customer capital spending, and a reduction in research activity as a result of laboratory closures and reduced clinical testing negatively affected the global market.
Regional Insights
North America accounted for a major market share in 2021 and is forecast to remain dominant during the forecast period. As a result of the rising emphasis on technical advances in medical electrodes, the growing geriatric population, the increase in the incidence of chronic diseases, and a surge in healthcare expenditure
The Asia Pacific region is forecast to have lucrative growth in the market during the forecast period. As a result of the growing number of private and public health care facilities in the region.
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Leading Competitors
The leading prominent companies profiled in the global medical electrodes market are:
CONMED Corporation
3M Company
Koninklijke Philips N.V.
Medtronic
Natus Medical Incorporated
Ambu A/S
Cognionics Incorporated
CooperSurgical, Incorporated
Dymedix
Other Prominent Players
Scope of the Report
The global medical electrodes market segmentation focuses on Product Type, Application, Modality, and Region.
Segmentation based on Product Type
Surface Electrodes
Needle Electrodes
Segmentation based on Application
Cardiology
Neurophysiology
Electrosurgery
Intraoperative Monitoring (IOM)
Sleep Study
Segmentation based on Modality
Electrocardiography (ECG)
Electroencephalography (EEG)
Electromyography (EMG)
Brainstem auditory evoked potentials (BAEPs)
Others
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Segmentation based on Region
North America
The U.S.
Canada
Mexico
Europe
Western Europe
The UK
Germany
France
Italy
Spain
Rest of Western Europe
Eastern Europe
Poland
Russia
Rest of Eastern Europe
Asia Pacific
China
India
Japan
Australia & New Zealand
ASEAN
Rest of Asia Pacific
Middle East & Africa (MEA)
UAE
Saudi Arabia
South Africa
Rest of MEA
South America
Brazil
Argentina
Rest of South America
Highlight the Following Key Factors:
- Business Description: a particular description of agency operations and enterprise departments.
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- SWOT Analysis: Detailed evaluation of the company’s strengths, weaknesses, opportunities, and threats.
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- Main Competitors: A listing of the company’s fundamental competitors.
- Important places and subsidiaries: The company’s major places and subsidiaries’ listing and contact information.
- Detailed economic ratios of the previous 5 years: The trendy monetary ratios come from the annual economic statements issued by means of agencies with a record of 5 years.
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