
This report aims to provide detailed insights
into the global medical electrodes market. It provides valuable information on
the type, procedure, application, and region in the market. Furthermore, the
information for these segments, by region, is also presented in this report.
Leading players in the market are profiled to study their product offerings and
understand the strategies undertaken by them to be competitive in this market.
Expected
Revenue Growth:
[208 Pages Report] The medical electrode market is
projected to reach USD 2.1 billion by 2026 from USD 1.7 billion in 2021, at a
CAGR of 4.3%
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Key Factors Driving Market Growth:
Growth in the medical
electrodes market is primarily driven by the rising incidence of neurological
& cardiovascular disorders, increasing investments in research for medical devices,
and growing preference for home & ambulatory care services. Emerging
markets in Asian countries are expected to offer strong growth opportunities
for players in the market.
Rising incidence of neurological &
cardiovascular disorders
The
incidence of neurological & cardiovascular diseases and sleep disorders has
significantly increased over the years. This increase has, in turn, driven the
volume of diagnostic and treatment procedures conducted. Thus, the increasing
demand for these procedures is likely to drive market growth. For instance,
According to the World Health Organisation (WHO), cardiovascular disease (CVD)
is a leading cause of death and disability worldwide. Globally, 17.9 million
deaths due to CVD were reported in 2016; this figure is projected to increase
to 23.6 million deaths by 2030.
The wet electrode segment dominated the Medical Electrodes Market in
2020.
Based
on technology, the medical electrodes market is categorized into dry
electrodes, wet electrodes, and needle electrodes. The wet electrodes segment
accounted for the largest share of the global medical electrodes market in
2020. The large share of this segment can be attributed to the greater
preference for the high signal quality provided by wet electrodes.
North America to
dominate the market followed by Europe:
The medical electrodes market is
segmented into North America, Europe, the Asia Pacific, and the Rest of the
World. In 2020, North America was the largest regional segment of the overall
market, followed by Europe. The large share of the North American market is
attributed to factors such as the growing focus of technological advancements
in medical electrodes, rising geriatric population, the increasing incidence of
chronic diseases, and high healthcare expenditure in this region.