Global Medical Electrodes Market 2017-2021
About Medical Electrodes
Medical electrodes are an integral part of certain diagnostic and therapeutic medical devices. They provide an ideal electric contract between the patient and the device that is used to measure or record activity. They aid in surface quantification of the internal ionic current in non-invasive tests of various nervous, muscular, ocular, and cardiac disorders. Based on application, the global medical electrodes market has been segmented into diagnostic electrodes and therapeutic electrodes. Diagnostic electrodes include electrocardiography (ECG), electroencephalogram (EEG), electromyography (EMG), electronystagmogram (ENG), fetal scalp, and other electrodes.
Technavio’s analysts forecast the global medical electrodes market to grow at a CAGR of 8.44% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global medical electrodes market for 2017-2021. The report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Medical Electrodes Market 2017-2021
Technavio recognizes the following companies as the key players in the global medical electrodes market: 3M, Ambu, CONMED, Medtronic, and Philips Healthcare.
Other Prominent Vendors in the market are: Cardinal Health, C. R. Bard, CAS Medical Systems, COGNIONICS, CooperSurgical, DIXI MEDICAL, Dymedix, Graphic Controls, Heart Sync, MAQUET, Natus Medical, NeuroWave Systems, LUMED, Shimmer, and ZOLL Medical.
Commenting on the report, an analyst from Technavio’s team said: “One trend in the market is increasing popularity of dry electrodes. Most CVD diagnostic devices use traditional wet gel electrodes for patient monitoring. The gel improves device contact with the skin and helps generate high-quality signal recording. However, the drying of the gel can cause signal disruption and degradation and skin irritation.”
According to the report, one driver in the market is increasing prevalence of cardiovascular and neurological disorders. The incidence of CVD such as angina, myocardial infarction, stroke, heart failure (HF), venous thromboembolism, heart arrhythmia, and associated risk factors is increasing. CVDs are estimated to cause approximately 19 million deaths across the world by 2020. According to the Centers for Disease Control and Prevention (CDC), in the US, approximately 610,000 people die due to heart disease every year. Each year, in the US, about 735,000 people have a heart attack. About 795,000 people in the US have a stroke every year. Atrial fibrillation (AFib) is the most common type of cardiac arrhythmias.
Further, the report states that one challenge in the market is pricing pressure. The global medical electrodes market is witnessing intense competition. This is due to the presence of several global and regional vendors. There is limited scope for product differentiation. Hence, the vendors offer similar products. The end-users of medical electrodes are price sensitive. Most vendors offer similar products, which provides consumers with several choices. Hence, customers have the opportunity to look for high-quality, cheaper alternatives. This results in price wars between vendors.
3M, Ambu, CONMED, Medtronic, Philips Healthcare, Cardinal Health, C. R. Bard, CAS Medical Systems, COGNIONICS, CooperSurgical, DIXI MEDICAL, Dymedix, Graphic Controls, Heart Sync, MAQUET, Natus Medical, NeuroWave Systems, LUMED, Shimmer, and ZOLL Medical.