Press release
Medical Electrodes Global Market Report 2024: Key Players, Demand Patterns And Forecasts 2033 |3M Company, ConMed Corporation, Koninklijke Philips N.V., Medtronic plc, Ambu A/S, General Electric Company
Medical Electrodes Market Size
The Business Research Company offers in-depth market insights through Medical Electrodes Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
The medical electrodes market size has grown strongly in recent years. It will grow from $1.98 billion in 2023 to $2.14 billion in 2024 at a compound annual growth rate (CAGR) of 7.9%. The growth in the historic period can be attributed to cardiovascular diseases, neurological disorders, aging population, electrotherapy and pain management, regulatory compliance.
The medical electrodes market size is expected to see strong growth in the next few years. It will grow to $2.9 billion in 2028 at a compound annual growth rate (CAGR) of 8.0%. The growth in the forecast period can be attributed to personalized medicine, patient-centric design, telemedicine expansion, medical tourism, sustainability and eco-friendly materials. Major trends in the forecast period include miniaturization and wearable electrodes, advanced electrode materials, smart electrodes, artificial intelligence (ai) and data analytics, sensor integration.
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Market Segmentation:
The main usability of medical electrodes is disposable medical electrodes and reusable medical electrodes. Disposable medical electrodes refer to the disposable medical electrode consisting of a disc made of a semi-rigid plastic substance with a centrally positioned recessed embossment. A metallic electrical contact with sections on both sides is put on the disc in the center of the embossment. Disposable electrodes can be used with snap-connect lead wires. Wet, dry, and needle electrodes are the technologies used. Electrocardiography, electroencephalography, and electromyography are the procedures where medical electrodes are used. Cardiology, neurophysiology, sleep disorders, and intraoperative monitoring are some applications of medical electrodes.
Major Driver - Elevated Chronic Disease Rates Drive Growth In The Medical Electrodes Market
The increasing prevalence of chronic diseases is expected to propel the growth of the medical electrodes market. Chronic diseases are long-lasting sickness that often cannot be healed, however, it is occasionally curable and controllable. Chronic diseases are increasing due to the increasing use of tobacco products, poor nutrition, physical inactivity, excessive use of alcohol, and others. Medical electrodes treat chronic diseases by measuring, monitoring, and recording body functions such as heartbeat and brain waves during medications. For instance, in January 2023, according to the National Center for Biotechnology Information (NCBI), a US-based National Library of Medicine, there would be 142.66 million people with chronic diseases worldwide by the year 2050, up from 71.522 million in 2020. Thus an increase in the prevalence of chronic diseases drives the growth of the medical electrodes market.
Competitive Landscape:
Major companies operating in the medical electrodes market include 3M Company, ConMed Corporation, Koninklijke Philips N.V., Medtronic plc, Ambu A/S, General Electric Company, Nihon Kohden Corporation, Cardinal Health Inc., Dymedix Diagnostics Inc., Natus Medical Incorporated, CooperSurgical Inc., B. Braun Melsungen AG, ZOLL Medical Corporation, Rhythmlink International LLC, Cognionics Inc., Compumedics Limited, Nissha Medical Technologies Group, C.R. Bard Inc., Curbell Medical Products Inc., Leonhard Lang GmbH, Graphic Controls Ltd., Bio Protech Inc., Medico Electrodes International Ltd., Ad-Tech Medical Instrument Corporation, Tenko Medical Systems Crop., Ambulatory Monitoring Inc., R&D Medical Electrodes, NeuroWave Systems Inc., NCC Medical Co. Ltd., Nihon Kohden America Inc., Zynex Medical Inc.
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Top Trend - Technological Advancements Driving Innovation In Medical Electrodes Market
Technological advancement is a key trend gaining popularity in the medical electrodes market. The advancement of medical device electrodes is primarily focused on improving patient comfort and electrode-tissue interface for better recording and stimulation. The market is witnessing the demand for prominent electrodes such as electrocardiography electrodes, electroencephalography electrodes, and others. Major companies operating in the medical electrodes market are advancing new technologies and advanced medical electrodes products to strengthen their market position. For instance, in December 2021, Shin-Etsu Chemical Co., Ltd., a Tokyo-based chemical company, launched electrophysiological dry electrodes and high-elasticity wiring materials to help create performance traits for next wearable technology. While a person is wearing the wearable device on their body, it is possible to monitor and transmit their electrical bio signals from a distance, including vital indicators like heart rate and electrocardiogram (ECG) waveform. They assist people in enhancing their physical and mental well-being and will aid in the earlier detection and treatment of chronic disorders.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Medical Electrodes Market Characteristics
3. Medical Electrodes Market Trends And Strategies
4. Medical Electrodes Market - Macro Economic Scenario
5. Medical Electrodes Market Size And Growth
…..
27. Medical Electrodes Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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