Global Electrodes For Medical Devices Market by Diagnostics (ECG, EEG, ERG, EMG, Fetal Scalp), by Therapeutics (Pacemaker, Defibrillator, Electrosurgical, TENS) and Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa), Forecast To 2028

Summary of the Report

Global Electrodes for Medical Devices market was valued at USD 775.8 Million in 2016. It is forecast to grow at an 11.3% CAGR during the forecast period. Market growth is expected to be driven by the increasing prevalence of diseases like Parkinson's Disease (PD), Alzheimer's (TN or TGN), Sinusitis, Tinnitus, Raynaud's Disease, Fibromyalgia and heart disorders. Also, technological advancements in medical electrodes and growing demand for portable medical devices to curb the rising hospital & healthcare-associated costs are key drivers that are likely to govern market growth worldwide.

U.S. Electrodes in the Medical Device Market, By Diagnostics, 2014 - 2020 (USD Million).

The Parkinson's Disease Foundation estimates that more than 10.0million people are suffering from Parkinson's Disease in the world. A further 60,000 Americans are diagnosed each year with Parkinson's disease. It is also very common in Europe (nearly 1.5 million) and China (1 million). Market growth is expected to be driven by the increasing prevalence of this illness over the forecast period.

Because they adhere to skin, advanced electrodes such as wet and dry electrodes are being accepted by users. The market for electrodes for medical devices is expected to grow over the forecast period due to the increasing use of textile electrodes to attach to shirts and other clothing for continuous cardiac monitoring by soldiers and athletes to monitor their heart activity.

Because they provide remote monitoring and extended care, as well as remote monitoring of patients' homes from a doctor's clinic, portable medical devices are becoming more popular. Market growth is expected to be driven by the economic management of conditions such as diabetes and heart disease.

However, the market growth is expected to be slowed by the strict regulatory framework and guidelines provided by regulatory bodies for medical electrodes.

Type Insights

This study focuses on diagnostics and therapeutics. In 2016, the diagnostics market dominated and will continue to enjoy lucrative growth. Globally, there is a rising demand for diagnostic electrodes. This will support growth.

Further, the diagnostic segment can be classified as Electrocardiogram, Electroencephalogram, Electromyogram, Electroretinogram, Fetal scalp and others. The ECG electrodes can be carried around and are conductive and adhesive. They are therefore ideal for recording and storing heartbeats of patients. The next nine years will see a significant increase in the use of these electrodes.

The therapeutics section is further divided into defibrillator and pacemaker. According to the World Health Organization (WHO), cardiovascular diseases (CVDs), are the most common cause of death in the world. CVDs accounted for 31.0% of all deaths in 2012, causing nearly 17.5million deaths. This growing prevalence is driving the demand for pacemaker electrodes. It is expected to record significant CAGR over the forecast period.

Global Electrodes for Medical Devices Market, Type, 2016, (%)

Regional Insights

North America held a greater share of the medical electrodes market than 40.0% in 2016. This is due to increasing CVD prevalence, changing lifestyles and the presence of the target populations in Canada and the U.S. Europe and North America are expected to contribute to this vertical's growth due to the availability of more technologically advanced electrodes, such as dry and hydrogel electrodes. These electrodes have better adhesion capabilities and conduction characteristics than gel-based electrodes.

Asia Pacific is expected to show a higher CAGR than other regions over the forecast period. Many governments have taken initiatives to promote a free and open market. To avoid double taxation and cascading effects, the Indian government introduced Goods and Services Tax (GST). This made it easier for entrepreneurs to start and expand their businesses and to comply with tax regulations. China's recent economic reforms have had a significant impact on shaping the world economy in 2016. This has created investment opportunities for Chinese market players.

Market Share Insights for Electrodes for Medical Devices

3M Healthcare, Boston Scientific Corporation, GE Healthcare, C.R Bard, Inc., CONMED Corporation, Medtronic, Natus Medical Incorporated, Thermo Fisher Scientific Inc., Asahi Kasei Corporation, and Philips Healthcare are some of the key players in this space. These companies focus on growth strategies like new product launches and acquisitions & mergers, as well as portfolio expansion.

Asahi Kasei ZOLL Medical, a Japanese Asahi Kasei Group Company, launched the R Series defibrillator with OneStep Complete electrode in July 2014. This device is used in hospitals and intensive care units across Japan. External pacing and monitoring of electrocardiographs (ECG), pulse oxygenmetry (SpO2) and noninvasive blood pressure are provided by the defibrillator.

Electrodes for Medical Devices Market Report Scope

The Report Covers Certain Segments

This report provides forecasts for revenue growth as well as analysis of the most recent trends in each sub-segment from 2014-2025. Grand View Research, Inc. analyzed the electrodes market for medical devices worldwide based on type and location.

• Type Outlook (Revenue USD Million, 2014-2025)

  • Diagnostics

    • Electrocardiogram (ECG).

    • Electroencephalogram (EEG)

    • Electromyogram (EMG).

    • Electroretinogram (ERG)

    • Fetal Scalp

    • Other

  • Therapeutics

    • Pacemaker

    • Transcutaneous Electrical Nerve Stimulator

    • Defibrillator

    • Electrosurgical

    • Other

• Regional Outlook (Revenue USD Million, 2014-2025)

  • North America

    • The U.S.

    • Canada

  • Europe

    • Germany

    • UK

  • Asia Pacific

    • Japan

    • China

  • Latin America

    • Brazil

    • Mexico

  • The Middle East and Africa (MEA).

    • South Africa

These are the most frequently asked questions about this report

b. Global electrodes for medical device market was valued at USD 1.06 Billion in 2019, and is forecast to grow to USD 1.18 Billion by 2020.

b. Global electrodes for medical device market will grow at a compound annual rate of 11.3% between 2019 and 2025, to reach USD 2.02 Billion by 2025.

b. With a 43.64% share in 2019, North America was the dominant market for electrodes for medical device. This can be attributed to the increasing prevalence of CVDs and changing lifestyles.

b. 3M, Boston Scientific Corporation and GE Healthcare are some of the key players in the market for electrodes for medical device.

b. Market growth is being driven by several key factors, including an increase in Parkinson's Disease (PD), heart disease, Alzheimer's, Trigeminal Neuralgia (TN/TGN), sinusitis and Raynaud's Disease, as well as technological advances in medical electrodes.

Up Market Research published a new report titled “Electrodes For Medical Devices Market research report which is segmented by Diagnostics (ECG, EEG, ERG, EMG, Fetal Scalp), by Therapeutics (Pacemaker, Defibrillator, Electrosurgical, TENS), By Players/Companies 3M, Asahi Kasei Corporation, CONMED, Boston Scientific Corporation, GE Healthcare, Philips Healthcare, Medtronic, Thermo Fisher Scientific Inc”. As per the study the market is expected to grow at a CAGR of XX% in the forecast period.

Report Scope

The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include products, applications, and competitor analysis.

Global Electrodes For Medical Devices Market Report Segments:

The market is segmented by Diagnostics (ECG, EEG, ERG, EMG, Fetal Scalp), by Therapeutics (Pacemaker, Defibrillator, Electrosurgical, TENS).

Electrodes For Medical Devices Market research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period. It is a professional and a detailed report focusing on primary and secondary drivers, market share, leading segments and geographical analysis. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report.

Key Benefits for Industry Participants & Stakeholders:

• Industry drivers, restraints, and opportunities covered in the study
• Neutral perspective on the market performance
• Recent industry trends and developments
• Competitive landscape & strategies of key players
• Potential & niche segments and regions exhibiting promising growth covered
• Historical, current, and projected market size, in terms of value
• In-depth analysis of the Electrodes For Medical Devices Market

Overview of the regional outlook of the Electrodes For Medical Devices Market:

Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. The Europe region is further categorized into U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe. Asia Pacific is further segmented into China, Japan, South Korea, India, Australia, South East Asia, and Rest of Asia Pacific. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, and the MEA region is further divided into GCC, Turkey, South Africa, and Rest of MEA.

Highlights of The Electrodes For Medical Devices Market Report:

1. The market structure and projections for the coming years.
2. Drivers, restraints, opportunities, and current trends of Electrodes For Medical Devices Market.
3. Historical data and forecast.
4. Estimations for the forecast period 2028.
5. Developments and trends in the market.

                1. ECG

                2. EEG

                3. ERG

                4. EMG

                5. Fetal Scalp

                1. Pacemaker

                2. Defibrillator

                3. Electrosurgical

                4. TENS

8. Market scenario by region, sub-region, and country.
9. Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
10. Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
11. Government Policies, Macro & Micro economic factors are also included in the report.

We have studied the Electrodes For Medical Devices Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2028.

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Reasons to Purchase the Electrodes For Medical Devices Market Report:

• The report includes a plethora of information such as market dynamics scenario and opportunities during the forecast period
• Segments and sub-segments include quantitative, qualitative, value (USD Million,) and volume (Units Million) data.
• Regional, sub-regional, and country level data includes the demand and supply forces along with their influence on the market.
• The competitive landscape comprises share of key players, new developments, and strategies in the last three years.
• Comprehensive companies offering products, relevant financial information, recent developments, SWOT analysis, and strategies by these players.