The global electrodes for medical devices market is expected to reach USD 2.0 billion by 2025, according to a new report by Grand View Research, Inc. The market is anticipated to witness lucrative growth during the forecast period, owing to increasing prevalence of chronic and other diseases such as heart diseases, Parkinson’s Disease (PD), Alzheimer’s disease, brain disorders, Trigeminal Neuralgia (TN or TGN), sinusitis, tinnitus, Raynaud's disease, fibromyalgia, circulatory disturbances, gout, and body ache, across the globe.
Minimally Invasive Surgery (MIS) is one of the advancements in medical technology in which small incisions are made in the body for laparoscopy, endoscopy, arthroscopy, and other surgical procedures. This procedure is gaining popularity owing to faster recovery, lesser postsurgical infections, pain, & major bleeding, reduced scarring, and high accuracy benefits. In 2015, over 20.0 million Americans underwent MIS, which is expected to assist in the growth of this vertical during the forecast period.
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Further Key Findings From the Study Suggest:
The diagnostic segment held a profitable revenue share in 2016 and is expected to grow at a significant rate over the forecast period.
Rising prevalence of heart diseases, fetal distress syndrome, ocular diseases, and neurological disorders make extensive use of Electrocardiogram (ECG), Electroencephalogram (EEG), electrosurgical, and fetal scalp electrodes
The therapeutic segment is anticipated to witness the fastest growth over the forecast period due to widened use of medical electrodes in aesthetic surgeries, RF ablation procedures, neurosurgical procedures, and acute & chronic pain treatments
Defibrillator and electrosurgical electrodes are projected to hold substantial market share over the forecast period. This can be attributed to the advanced development of wearable defibrillator that constantly monitors the cardiac rhythms of the wearer and identifies & notifies the user about the occurrence of any abnormality and helps regain the normal heart functionality
North America is expected to dominate the medical electrodes market during the forecast period, owing to the rising prevalence of CVDs, changing lifestyle of individuals, and presence of target population in the U.S. and Canada. In addition, the presence of advanced technologies with electrodes such as hydrogel and dry electrodes in the region are expected to spur the medical electrodes market growth.
Some of the key players in medical electrodes market are 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
Grand View Research has segmented the global electrodes for medical devices market on the basis of type and region:
Electrodes For Medical Devices Type Outlook (Revenue, USD Million, 2014 - 2025)
Transcutaneous Electrical Nerve Stimulator (TENS)
Electrodes For Medical Devices Regional Outlook (Revenue, USD Million, 2014 - 2025)
Middle East and Africa (MEA)
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