Market by Product, Usability, Type, Application and Regional Outlook | Forecast 2022-2028
Medical
electrodes convert the energy of the body's ionic currents into electrical
currents, which are then amplified, studied, and used to diagnose diseases. They comprise lead, metal, and an electrode conducting plate.
Medical electrodes provide a non-invasive test for various nervous, cardiac, muscular,
and other disorders that might otherwise have required surgical means to verify
their presence.
According to an analysis by Triton Market Research, the Global Medical Electrodes Market is anticipated to grow at a CAGR of 4.99% during the forecast period 2022-2028. The market was valued at $1644.51 million in 2021 and is expected to reach $2327.58 million by 2028.
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MARKET PERFORMANCE: DRIVERS,
CHALLENGES, AND TRENDS
The rising preference for home and ambulatory
care services, increasing cardiovascular & neurological diseases, and
rising investments in healthcare boost market growth. There has been a significant rise in the
preference for healthcare services at home, especially after the pandemic.
Online consultations have come into a trend after the pandemic. For example,
ambulatory surgical centers (ASC) allow patients to be discharged within 23
hours of care allowing the recovery to occur in their own homes. These ambulatory
care services reduce the number of visits to hospitals and doctors. Therefore,
diseases such as heart disease and diabetes can be managed at economic rates.
Due to their fast response and portability, medical electrodes will reduce the
visits to hospitals and increase the ambulatory and home healthcare services,
thereby driving the market demand.
However, strict regulations imposed on the use
of medical devices and time-consuming process of biocompatibility testing of
medical devices hamper the medical electrodes market growth. The development, manufacturing, distribution
and sale of medical devices such as electrodes are subject to the stringent
regulatory process for their safety, quality and performance checks. The
devices require proper sterilization, due to various environmental health and
safety laws. The manufacturing facilities and processes are subjected to
on-site inspection and review for compliance to quality systems' regulations by the US
Food and Drug Administration. Medical electrodes fall under the class II
category as per the FDA guidelines due to their use in surgical processes.
Therefore, medical electrodes need to follow all such regulations for approval, which creates a
challenge for the medical electrodes market.
The ECG segment is gaining traction, which presents an overall positive outlook for the market. The standard 12-lead ECG is commonly used for assessing cardiovascular diseases. Because of the changing lifestyle, unhealthy eating habits, smoking, physical inactivity and alcohol consumption, these disease cases are increasing rapidly. Because of this increase, the diagnostic tests associated with these, i.e., electrocardiography, have experienced significant growth.
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KEY
GEOGRAPHIES COVERED:
• North America: United States and Canada
• Europe: United
Kingdom, France, Germany, Spain, Italy, and Rest of Europe
• Asia-Pacific: China, South Korea, India, Australia & New Zealand, Japan, ASEAN Countries, and Rest of Asia-Pacific
• Latin America: Brazil, Mexico, and Rest of Latin America• Middle East and Africa: Saudi Arabia, Turkey, South Africa, United Arab Emirates, and Rest of
Middle East & Africa
SEGMENTATION ANALYSIS –
MEDICAL ELECTRODES MARKET
• Market by Product:
o Surface Electrodes
o Needle Electrodes
Surface
Electrodes are expected to be the fastest-growing product with a CAGR of 5.22%
during the forecast period 2022-2028. These are used to measure the potential
available from the skin's surface by sensing the signals from the heart, nerves
and brain. The major applications of these electrodes include ECG, EMG, and EEG
for recording the electrical activities of the heart, muscles, and brain from
the skin's surface.
• Market by Usability:
o Disposable Medical Electrodes
o Reusable Medical Electrodes
• Market by Type:
o Diagnostic Medical Electrodes
o Therapeutic Medical Electrodes
• Market by Application:
o Cardiology
o Intraoperative Monitoring
o Neurophysiology
o Sleep Disorders
o Other Applications
Cardiology is expected to be the fastest-growing
application with the CAGR of 5.45% during the forecast period 2022-2028. Electrodes are used to look for the cause of
chest pain, identify irregular heartbeats, evaluate heart-related problems such
as tiredness, shortness of breath, and fainting, and check how the pacemaker
works and other conditions. Electrocardiogram uses electrodes by placing them
on the skin and displays a graph of voltage versus time of the heart's
electrical activity.
COMPETITIVE LANDSCAPE:
The competitive landscape helps dive into data about the key players in
the medical electrodes market. The strategic initiatives for each of the
companies considered have been covered in detail.
Acquisition (September 2021):
Zoll Medical Corporation and Itamar Medical Ltd
With the acquisition of Itamar Medical Ltd, Zoll Medical Corporation
hopes to improve communication between the fields of cardiology and sleep
medicine while assisting more patients in receiving a diagnosis and treatment
for sleep-disordered breathing.
Partnership (August 2021):
Cardinal Health and CVS Health
Cardinal Health extended the pharmaceutical distribution agreement with
CVS Health to distribute pharmaceuticals to distribution centers and retail
pharmacies.
Product Development (January
2021): Bittium Corporation
Bittium launched Bittium OmegaSnap Patch Electrodes. These electrodes
support one, two and three channel ECG measurements, specifically designed for
long-term ECG recordings.
Key Benefits of the Report:
●
Triton Market Research has a collective experience of 25-30 years
in the industry, with its analysts and experts encompassing the most infallible
research methodology for its market intelligence and industry analysis.
●
Our research methodology helps in achieving a broader consensus of
the market size, shape, and industry trends within each industry segment.
●
The strategy adopted in designing the research methodology
includes the amalgamation of the information assembled from primary and
secondary sources, with the assistance of analytical tools to construct the
forecast and predictive models.
●
The scope of the market report comprises the current scenario of
the global medical electrodes market, along with the detailed overview of the
industry outlook, market dynamics, segmentation analysis, regional outlook, and
competitive landscape for the period 2022-2028.
FAQs:
Q 1) What are needle
electrodes?
Needle electrodes are inserted through a section of skin. These are used
during the measurement of EEG, EMG and others to reduce the interface and noise
due to electrode movement by penetrating the scalp.
Q 2) What are reusable
medical electrodes?
Reusable medical electrodes can be used more than once with proper
cleaning. They require sterilization because of their repetitive use to avoid
contamination with any microorganism, including bacterial spores.
1. GLOBAL
MEDICAL ELECTRODES MARKET - SUMMARY
2. INDUSTRY
OUTLOOK
2.1. IMPACT
OF COVID-19 ON THE MEDICAL ELECTRODES MARKET
2.2. KEY
INSIGHTS
2.2.1. ADVANCEMENT
IN TECHNOLOGIES FOR THE DEVELOPMENT OF MEDICAL ELECTRODE DEVICES
2.2.2. HEALTHCARE
INITIATIVES BY GOVERNMENT
2.2.3. ECG
SEGMENT GAINING TRACTION IN THE MARKET
2.3. PORTER’S
FIVE FORCES ANALYSIS
2.3.1. THREAT
OF NEW ENTRANTS
2.3.2. THREAT
OF SUBSTITUTE S
2.3.3. BARGAINING
POWER OF BUYERS
2.3.4. BARGAINING
POWER OF SUPPLIERS
2.3.5. THREAT
OF COMPETITIVE RIVALRY
2.4. MARKET
ATTRACTIVENESS INDEX
2.5. VENDOR
SCORECARD
2.6. INDUSTRY
COMPONENTS
2.6.1. MANUFACTURING
2.6.2. TECHNOLOGY
INTEGRATION
2.6.3. DISTRIBUTORS/SUPPLIERS
2.6.4. END-USERS
2.7. REGULATORY
FRAMEWORK
2.8. KEY
MARKET STRATEGIES
2.8.1. ACQUISITIONS
2.8.2. PRODUCT
LAUNCHES
2.8.3. CONTRACTS
& AGREEMENTS
2.8.4. EXPANSIONS
& DIVESTITURES
2.9. MARKET
DRIVERS
2.9.1. GROWING
PREVALENCE OF CARDIOVASCULAR AND NEUROLOGICAL DISEASES
2.9.2. RISING
INVESTMENTS IN RESEARCH AND DEVELOPMENT OF HEALTHCARE SERVICES
2.9.3. RISING
PREFERENCE FOR AMBULATORY HEALTHCARE SERVICES
2.10. MARKET
CHALLENGES
2.10.1. STRINGENT
REGULATIONS IMPOSED BY GOVERNMENT
2.10.2. TIME-CONSUMING
PROCESS OF BIOCOMPATIBILITY TESTING
2.11. MARKET
OPPORTUNITIES
2.11.1. RISING
PREFERENCE FOR DISPOSABLE ELECTRODES
2.11.2. GROWING
DEMAND FOR MINIMALLY INVASIVE SURGERIES
3. GLOBAL
MEDICAL ELECTRODES MARKET OUTLOOK - BY PRODUCT
3.1. SURFACE
ELECTRODES
3.2. NEEDLE
ELECTRODES
4. GLOBAL
MEDICAL ELECTRODES MARKET OUTLOOK - BY USABILITY
4.1. DISPOSABLE
MEDICAL ELECTRODES
4.2. REUSABLE
MEDICAL ELECTRODES
5. GLOBAL
MEDICAL ELECTRODES MARKET OUTLOOK - BY TYPE
5.1. DIAGNOSTIC
MEDICAL ELECTRODES
5.2. THERAPEUTIC
MEDICAL ELECTRODES
6. GLOBAL
MEDICAL ELECTRODES MARKET OUTLOOK - BY APPLICATION
6.1. CARDIOLOGY
6.2. INTRAOPERATIVE
MONITORING
6.3. NEUROPHYSIOLOGY
6.4. SLEEP
DISORDERS
6.5. OTHER
APPLICATIONS
7. GLOBAL
MEDICAL ELECTRODES MARKET – REGIONAL OUTLOOK
7.1. NORTH
AMERICA
7.1.1. MARKET
OUTLOOK BY PRODUCT
7.1.2. MARKET
OUTLOOK BY USABILITY
7.1.3. MARKET
OUTLOOK BY TYPE
7.1.4. MARKET
OUTLOOK BY APPLICATION
7.1.5. COUNTRY
ANALYSIS
7.1.5.1. UNITED
STATES
7.1.5.2. CANADA
7.2. EUROPE
7.2.1. MARKET
OUTLOOK BY PRODUCT
7.2.2. MARKET
OUTLOOK BY USABILITY
7.2.3. MARKET
OUTLOOK BY TYPE
7.2.4. MARKET
OUTLOOK BY APPLICATION
7.2.5. COUNTRY
ANALYSIS
7.2.5.1. UNITED
KINGDOM
7.2.5.2. GERMANY
7.2.5.3. FRANCE
7.2.5.4. SPAIN
7.2.5.5. ITALY
7.2.5.6. REST
OF EUROPE
7.3. ASIA-PACIFIC
7.3.1. MARKET
OUTLOOK BY PRODUCT
7.3.2. MARKET
OUTLOOK BY USABILITY
7.3.3. MARKET
OUTLOOK BY TYPE
7.3.4. MARKET
OUTLOOK BY APPLICATION
7.3.5. COUNTRY
ANALYSIS
7.3.5.1. CHINA
7.3.5.2. JAPAN
7.3.5.3. INDIA
7.3.5.4. SOUTH
KOREA
7.3.5.5. ASEAN
COUNTRIES
7.3.5.6. AUSTRALIA
& NEW ZEALAND
7.3.5.7. REST
OF ASIA-PACIFIC
7.4. LATIN
AMERICA
7.4.1. MARKET
OUTLOOK BY PRODUCT
7.4.2. MARKET
OUTLOOK BY USABILITY
7.4.3. MARKET
OUTLOOK BY TYPE
7.4.4. MARKET
OUTLOOK BY APPLICATION
7.4.5. COUNTRY
ANALYSIS
7.4.5.1. BRAZIL
7.4.5.2. MEXICO
7.4.5.3. REST
OF LATIN AMERICA
7.5. MIDDLE
EAST AND AFRICA
7.5.1. MARKET
OUTLOOK BY PRODUCT
7.5.2. MARKET
OUTLOOK BY USABILITY
7.5.3. MARKET
OUTLOOK BY TYPE
7.5.4. MARKET
OUTLOOK BY APPLICATION
7.5.5. COUNTRY
ANALYSIS
7.5.5.1. UNITED
ARAB EMIRATES
7.5.5.2. SAUDI
ARABIA
7.5.5.3. TURKEY
7.5.5.4. SOUTH
AFRICA
7.5.5.5. REST
OF MIDDLE EAST & AFRICA
8. COMPETITIVE
LANDSCAPE
8.1. 3M
8.2. CONMED
CORPORATION
8.3. MEDTRONIC
PLC
8.4. CARDINAL
HEALTH INC.
8.5. AMBU
A/S
8.6. ZOLL
MEDICAL CORPORATION
8.7. DYMEDIX
DIAGNOSTICS
8.8. COGNIONICS
8.9. COOPER
SURGICAL
8.10. CR
BARD INC
8.11. RHYTHMLINK
INTERNATIONAL
8.12. NATUS
MEDICAL INCORPORATED
8.13. PEPIN
MANUFACTURING
8.14. MEDICO
ELECTRODES
8.15. KONINKLIJKE
PHILIPS NV
9. RESEARCH
METHODOLOGY & SCOPE
9.1. RESEARCH
SCOPE & DELIVERABLES
9.2. SOURCES
OF DATA
9.3. RESEARCH
METHODOLOGY
TABLE 1: GLOBAL MEDICAL ELECTRODES MARKET, REGIONAL OUTLOOK, 2022-2028
(IN $ MILLION)
TABLE 2: VENDOR SCORECARD
TABLE 3: REGULATORY FRAMEWORK
TABLE 4: LIST OF ACQUISITIONS
TABLE 5: LIST OF PRODUCT LAUNCHES
TABLE 6: LIST OF CONTRACTS & AGREEMENTS
TABLE 7: LIST OF INVESTMENTS & EXPANSIONS
TABLE 8: GLOBAL MEDICAL ELECTRODES MARKET, BY PRODUCT, 2022-2028 (IN $
MILLION)
TABLE 9: GLOBAL MEDICAL ELECTRODES MARKET, BY USABILITY, 2022-2028 (IN $
MILLION)
TABLE 10: GLOBAL MEDICAL ELECTRODES MARKET, BY TYPE, 2022-2028 (IN $
MILLION)
TABLE 11: GLOBAL MEDICAL ELECTRODES MARKET, BY APPLICATION, 2022-2028 (IN
$ MILLION)
TABLE 12: GLOBAL MEDICAL ELECTRODES MARKET, REGIONAL OUTLOOK, 2022-2028
(IN $ MILLION)
TABLE 13: NORTH AMERICA MEDICAL ELECTRODES MARKET, BY PRODUCT, 2022-2028
(IN $ MILLION)
TABLE 14: NORTH AMERICA MEDICAL ELECTRODES MARKET, BY USABILITY,
2022-2028 (IN $ MILLION)
TABLE 15: NORTH AMERICA MEDICAL ELECTRODES MARKET, BY TYPE, 2022-2028 (IN
$ MILLION)
TABLE 16: NORTH AMERICA MEDICAL ELECTRODES MARKET, BY APPLICATION,
2022-2028 (IN $ MILLION)
TABLE 17: NORTH AMERICA MEDICAL ELECTRODES MARKET, COUNTRY OUTLOOK,
2022-2028 (IN $ MILLION)
TABLE 18: EUROPE MEDICAL ELECTRODES MARKET, BY PRODUCT, 2022-2028 (IN $
MILLION)
TABLE 19: EUROPE MEDICAL ELECTRODES MARKET, BY USABILITY, 2022-2028 (IN $
MILLION)
TABLE 20: EUROPE MEDICAL ELECTRODES MARKET, BY TYPE, 2022-2028 (IN $
MILLION)
TABLE 21: EUROPE MEDICAL ELECTRODES MARKET, BY APPLICATION, 2022-2028 (IN
$ MILLION)
TABLE 22: EUROPE MEDICAL ELECTRODES MARKET, COUNTRY OUTLOOK, 2022-2028
(IN $ MILLION)
TABLE 23:ASIA-PACIFIC MEDICAL ELECTRODES MARKET, BY PRODUCT, 2022-2028
(IN $ MILLION)
TABLE 24:ASIA-PACIFIC MEDICAL ELECTRODES MARKET, BY USABILITY, 2022-2028
(IN $ MILLION)
TABLE 25:ASIA-PACIFIC MEDICAL ELECTRODES MARKET, BY TYPE, 2022-2028 (IN $
MILLION)
TABLE 26:ASIA-PACIFIC MEDICAL ELECTRODES MARKET, BY APPLICATION,
2022-2028 (IN $ MILLION)
TABLE 27:ASIA-PACIFIC MEDICAL ELECTRODES MARKET, COUNTRY OUTLOOK,
2022-2028 (IN $ MILLION)
TABLE 28: LATIN AMERICA MEDICAL ELECTRODES MARKET, BY PRODUCT, 2022-2028
(IN $ MILLION)
TABLE 29: LATIN AMERICA MEDICAL ELECTRODES MARKET, BY USABILITY,
2022-2028 (IN $ MILLION)
TABLE 30: LATIN AMERICA MEDICAL ELECTRODES MARKET, BY TYPE, 2022-2028 (IN
$ MILLION)
TABLE 31: LATIN AMERICA MEDICAL ELECTRODES MARKET, BY APPLICATION,
2022-2028 (IN $ MILLION)
TABLE 32: LATIN AMERICA MEDICAL ELECTRODES MARKET, COUNTRY OUTLOOK,
2022-2028 (IN $ MILLION)
TABLE 33: MIDDLE EAST AND AFRICA MEDICAL ELECTRODES MARKET, BY PRODUCT,
2022-2028 (IN $ MILLION)
TABLE 34: MIDDLE EAST AND AFRICA MEDICAL ELECTRODES MARKET, BY USABILITY,
2022-2028 (IN $ MILLION)
TABLE 35: MIDDLE EAST AND AFRICA MEDICAL ELECTRODES MARKET, BY TYPE,
2022-2028 (IN $ MILLION)
TABLE 36: MIDDLE EAST AND AFRICA MEDICAL ELECTRODES MARKET, BY
APPLICATION, 2022-2028 (IN $ MILLION)
TABLE 37: MIDDLE EAST AND AFRICA MEDICAL ELECTRODES MARKET, COUNTRY OUTLOOK,
2022-2028 (IN $ MILLION)
FIGURE 1: MARKET
ATTRACTIVENESS INDEX
FIGURE 2: INDUSTRY
COMPONENTS
FIGURE 3: GLOBAL
MEDICAL ELECTRODES MARKET, BY PRODUCT, 2021 & 2028 (IN
%)
FIGURE 4: GLOBAL
MEDICAL ELECTRODES MARKET, BY SURFACE ELECTRODES, 2022-2028 (IN $ MILLION)
FIGURE 5: GLOBAL
MEDICAL ELECTRODES MARKET, BY NEEDLE ELECTRODES, 2022-2028 (IN $ MILLION)
FIGURE 6: GLOBAL
MEDICAL ELECTRODES MARKET, BY USABILITY, 2021 & 2028 (IN %)
FIGURE 7: GLOBAL
MEDICAL ELECTRODES MARKET, BY DISPOSABLE MEDICAL ELECTRODES, 2022-2028 (IN $
MILLION)
FIGURE 8: GLOBAL
MEDICAL ELECTRODES MARKET, BY REUSABLE MEDICAL ELECTRODES, 2022-2028 (IN $
MILLION)
FIGURE 9: GLOBAL
MEDICAL ELECTRODES MARKET, BY TYPE, 2021 & 2028 (IN %)
FIGURE 10: GLOBAL
MEDICAL ELECTRODES MARKET, BY DIAGNOSTIC MEDICAL ELECTRODES, 2022-2028 (IN $
MILLION)
FIGURE 11: GLOBAL MEDICAL
ELECTRODES MARKET, BY THERAPEUTIC MEDICAL ELECTRODES, 2022-2028 (IN $ MILLION)
FIGURE 12: GLOBAL
MEDICAL ELECTRODES MARKET, BY APPLICATION, 2021 & 2028 (IN %)
FIGURE 13: GLOBAL
MEDICAL ELECTRODES MARKET, BY CARDIOLOGY, 2022-2028 (IN $ MILLION)
FIGURE 14: GLOBAL
MEDICAL ELECTRODES MARKET, BY INTRAOPERATIVE MONITORING, 2022-2028 (IN $
MILLION)
FIGURE 15: GLOBAL
MEDICAL ELECTRODES MARKET, BY NEUROPHYSIOLOGY, 2022-2028 (IN $ MILLION)
FIGURE 16: GLOBAL
MEDICAL ELECTRODES MARKET, BY SLEEP DISORDERS, 2022-2028 (IN $ MILLION)
FIGURE 17: GLOBAL
MEDICAL ELECTRODES MARKET, BY OTHER APPLICATIONS, 2022-2028 (IN $ MILLION)
FIGURE 18: GLOBAL
MEDICAL ELECTRODES MARKET, REGIONAL OUTLOOK, 2021 & 2028 (IN %)
FIGURE 19: NORTH
AMERICA MEDICAL ELECTRODES MARKET, COUNTRY OUTLOOK, 2021 & 2028 (IN %)
FIGURE 20: UNITED
STATES MEDICAL ELECTRODES MARKET 2022-2028 (IN $ MILLION)
FIGURE 21: CANADA
MEDICAL ELECTRODES MARKET 2022-2028 (IN $ MILLION)
FIGURE 22: EUROPE
MEDICAL ELECTRODES MARKET, COUNTRY OUTLOOK, 2021 & 2028 (IN %)
FIGURE 23: UNITED
KINGDOM MEDICAL ELECTRODES MARKET 2022-2028 (IN $ MILLION)
FIGURE 24: GERMANY
MEDICAL ELECTRODES MARKET 2022-2028 (IN $ MILLION)
FIGURE 25: FRANCE
MEDICAL ELECTRODES MARKET 2022-2028 (IN $ MILLION)
FIGURE 26: SPAIN
MEDICAL ELECTRODES MARKET 2022-2028 (IN $ MILLION)
FIGURE 27: ITALY
MEDICAL ELECTRODES MARKET 2022-2028 (IN $ MILLION)
FIGURE 28: REST OF
EUROPE MEDICAL ELECTRODES MARKET 2022-2028 (IN $ MILLION)
FIGURE 29:ASIA-PACIFIC
MEDICAL ELECTRODES MARKET, COUNTRY OUTLOOK, 2021 & 2028 (IN %)
FIGURE 30: CHINA
MEDICAL ELECTRODES MARKET 2022-2028 (IN $ MILLION)
FIGURE 31: JAPAN
MEDICAL ELECTRODES MARKET 2022-2028 (IN $ MILLION)
FIGURE 32: INDIA
MEDICAL ELECTRODES MARKET 2022-2028 (IN $ MILLION)
FIGURE 33: SOUTH KOREA
MEDICAL ELECTRODES MARKET 2022-2028 (IN $ MILLION)
FIGURE 34: ASEAN
COUNTRIES MEDICAL ELECTRODES MARKET 2022-2028 (IN $ MILLION)
FIGURE 35: AUSTRALIA
& NEW ZEALAND MEDICAL ELECTRODES MARKET 2022-2028 (IN $ MILLION)
FIGURE 36: REST OF
ASIA-PACIFIC MEDICAL ELECTRODES MARKET 2022-2028 (IN $ MILLION)
FIGURE 37: LATIN
AMERICA MEDICAL ELECTRODES MARKET, COUNTRY OUTLOOK, 2021 & 2028 (IN %)
FIGURE 38: BRAZIL
MEDICAL ELECTRODES MARKET 2022-2028 (IN $ MILLION)
FIGURE 39: MEXICO
MEDICAL ELECTRODES MARKET 2022-2028 (IN $ MILLION)
FIGURE 40: REST OF
LATIN AMERICA MEDICAL ELECTRODES MARKET 2022-2028 (IN $ MILLION)
FIGURE 41: MIDDLE EAST
AND AFRICA MEDICAL ELECTRODES MARKET, COUNTRY OUTLOOK, 2021 & 2028 (IN %)
FIGURE 42: UNITED ARAB
EMIRATES MEDICAL ELECTRODES MARKET 2022-2028 (IN $ MILLION)
FIGURE 43: SAUDI ARABIA
MEDICAL ELECTRODES MARKET 2022-2028 (IN $ MILLION)
FIGURE 44: TURKEY
MEDICAL ELECTRODES MARKET 2022-2028 (IN $ MILLION)
FIGURE 45: SOUTH AFRICA
MEDICAL ELECTRODES MARKET 2022-2028 (IN $ MILLION)
FIGURE 46: REST OF
MIDDLE EAST & AFRICA MEDICAL ELECTRODES MARKET 2022-2028 (IN $ MILLION)