DUBLIN, Jun 14, 2021--(BUSINESS WIRE)--The "Medical Electrodes Market Size, Market Share, Application Analysis, Regional Outlook, Growth Trends, Key Players, Competitive Strategies and Forecasts, 2021 to 2029" report has been added to ResearchAndMarkets.com's offering.
The global medical electrodes market accounted for a value of US$ 1,317.3 Mn in 2020, and expected to attain US$ 2,806.9 Mn by 2029.
Boston Scientific Corporation
Thermo Fisher Scientific Inc.
C. R. Bard Inc.
Asahi Kasei Corporation
Natus Medical Incorporated
Factors characterizing the growth of this market are globally growing elder population base, along with increasing adoption of medical electrodes for the diagnosis and treatment of various conditions, technological advances in medical electrodes, and rising preference for minimally invasive procedures.
The older population is highly prone to develop cardiovascular diseases (CVDs) and neurophysiological/neurological disorders. The World Health Organization (WHO) reported that global population aged 60 years and older has surged from 841.0 Mn in 2013 to 962.3 Mn in 2020, and projected to surpass 2.0 Bn by the end of 2050. Rising prevalence of diseases such as CVDs, circulatory disturbances, sleep disorders, Alzheimer's disease, Parkinson's disease (PD), brain disorders, Trigeminal Neuralgia (TGN), sinusitis, tinnitus, Raynaud's disease, gout, and fibromyalgia are propelling the usage of medical device electrodes.
Parkinson's Foundation, a nonprofit organization, stated that currently, 10.0 Mn individuals across the globe are living with Parkinson's disease. The WHO reported the global burden of neurological disorders accounted for a total of 94.6 Mn deaths in 2015, which is anticipated to cross 103 Mn by the end of 2030. The American College of Cardiology (ACC) Foundation reported that in 2015, around 422.7 Mn patients were suffering from CVDs and about 17.9 Mn patients died from same in 2016, accounting for 31.0% of all worldwide deaths. Additionally, change in lifestyle across the world is causing sleep disorders wherein 20.0% of the global population is sleep deprived, thereby expected to propel the demand for medical device electrodes over the forecast period.
The Diagnostics Segment to Command the Market from 2021 to 2029
Worldwide rising need for early diagnosis of CVDs, neurophysiological/neurological disorders, and sleep disorders coupled with mounting adoption of various diagnostic tests such as electrocardiography (ECG), electromyography (EMG), electroencephalography (EEG), electroretinography (ERG), and electronystagmography (ENG) are fuelling the demand for medical electrodes. Electrocardiography electrodes are portable, conductive, and adhesive in nature, thereby are highly used in capturing and storing patients' heartbeats. Globally growing burden of CVDs along with a major focus on early diagnosis of CVDs is also supporting the dominance of the ECG electrodes among the diagnostics' segment.
North America Led the Market in 2020 due to the Presence of Supportive Healthcare Infrastructure and Domicile of Key Market Players
North America would continue to dominate the market throughout the forecast period owing to the presence of key market participants, favorable healthcare infrastructure, higher adoption of medical electrodes, and availability of technologically developed electrodes including hydrogel & dry electrodes, which offers enhanced adhesion capability and better conduction features in comparison with gel-based electrodes.
On the other hand, implementation of Goods and Services Tax (GST) by the Indian government to avoid the double taxation/cascading effect, thus making it easier to start & expand businesses and comply with tax regulations is contributing to the significant growth of Asia Pacific. Large patient pool in Japan and China are also supporting the quick pace of Asia Pacific market. In addition, the supportive role of various governments across South Asia in practicing Government Reforms and Infrastructure Development (GRID) would assist in market growth in the near future.
Key questions answered in this report
What are the current market trends and dynamics in the medical electrodes market and valuable opportunities for emerging players?
Which electrode type segment contributes to the maximum market share?
Which segment accounts for the fastest CAGR during the forecast period?
Which diagnostics sub-segment holds the highest market share?
Which therapeutics sub-segment accounts for the largest market share?
What is the impact of high cost medical electrodes on the market?
Are low and middle-income economies investing in the medical electrodes market?
What is the market trend and dynamics in emerging markets such as Latin America and Middle East & Africa?
Key Topics Covered:
Chapter 1 Preface
Chapter 2 Executive Summary
Chapter 3 Market Dynamics
3.2 Market Dynamics
3.2.1 Market Drivers
18.104.22.168 Globally Growing Elderly Population Coupled With Rising Prevalence of Chronic and Other Diseases
22.214.171.124 Driver 2
126.96.36.199 Challenge 1
188.8.131.52 Challenge 2
184.108.40.206 Opportunity 1
220.127.116.11 Opportunity 2
3.3 Attractive Investment Proposition, by Geography, 2020
3.4 Market Positioning of Key Players, 2020
Chapter 4 Global Medical Electrodes (ME) Market, by Type, 2019-2029 (US$ Mn)
Chapter 5 Global Medical Electrodes (ME) Market, by Geography, 2019-2029 (US$ Mn)
Chapter 6 Company Profiles
For more information about this report visit https://www.researchandmarkets.com/r/rqftc1
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Laura Wood, Senior Press Manager
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