Medical Electrodes Market – Analysis And Forecast (2017-2025): Market Shares And Strategies Of Key Players
Next-generation wearable technologies in medical electrode to boost the Medical Electrode Market
Key players operating the global medical electrodes market are 3M Company, CONMED, Koninklijke Philips N.V., Cooper Surgical Inc., Medtronic PLC and C. R. Bard Inc. Pepin. The other leading manufacturers in the market include Leonhard Lang GmbH, S&W Healthcare, Ad-Tech Medical Instrument Corporation, ZOLL Medical Corporation and Avery Dennison Corporation.
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Medical electrodes are devices used to transfer energy of ionic currents into electrical current in the body. The currents passed into the body is amplified and has proved to be useful in diagnosing various diseases. Medical electrodes are noninvasive and comprises a metal, electrode conducting plate and lead. Medical electrodes progress with quantification of internal ionic currents results in diagnosis of nervous, cardiac, ocular and muscular disorders. The electrode works in combination with the electrical contact between apparatus and monitoring system, which is used to monitor the activities of the patient. The diseases and health conditions treated with help of medical electrodes devices include Alzheimer’s disease, Parkinson’s disease, body ache, and sinusitis. Medical electrodes can be applied to fields of general surgery, fetal monitoring, orthopedic surgery, cardiovascular surgery, cosmetic surgery, neurosurgery etc.
Increasing prevalence of cardiology and neurological diseases among the population drives growth of the global medical electrodes market
According to The World Health Organization’s estimates in 2012, the global geriatric population was pegged at 901 million in 2015, which is expected to increase over 2 billion by 2050. Geriatric population is highly susceptible to various cardiology and neurological diseases, thus creating a need for early diagnosis which can be achieved using medical electrodes. Factors that propel growth of the market are exponential rise in population, higher disease prevalence, minimally invasive nature of the treatment, low costs associated with the treatment, compact and effective medical devices. Also, the use of nanotechnology for developing miniaturized electrodes, increased focus on investment, encouraging research and development, support from government and private organizations to ensure access to quality care for vulnerable population, develop healthcare workforce and focus on early diagnosis of diseases is expected to boost the global medical electrodes market.
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Rising government interventions to establish healthcare infrastructure dominates North America in the medical electrodes market
Regional segmentation of the medical electrodes market by Coherent Market Insights comprises North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa. According to the Alzheimer’s Association estimates in 2017, 5 million Americans were diagnosed with Alzheimer’s disease, and the number is expected to rise to over 16 million by 2050. This creates a highly conducive environment for growth of the medical electrodes market in North America, especially for neurological applications. Installation of technologically advanced electrocardiogram (ECG) and electromyogram (EMG) electrode system, have contributed towards the deployment and higher sales of the medical electrode devices in North America. The medical electrodes industry in Asia Pacific is expected to grow rapidly during the forecast period, owing to rapid development of healthcare facilities, escalated government interventions to develop compatible and inexpensive devices and rise in disposable income.
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