Farmington, March 14, 2023 (GLOBE NEWSWIRE) -- The Global Electrodes for Medical Devices Market Size Was Valued At USD 775.8 Million In 2022 And Is Expected To Grow At A CAGR Of 11.3% Over The Forecast Period 2022-2030. A medical electrode is a small metal plate or needle that sends electrical current from a device to a patient for treatment or surgery. Also, electrodes send electrical signals from muscles, the brain, the heart, the skin, or other parts of the body to recording devices to help doctors figure out what's wrong. There are many different kinds of electrodes, such as electrocardiogram (ECG) electrodes, fetal head electrodes, EEG electrodes, TENS electrodes for transcutaneous electrical nerve stimulation, and pacemaker electrodes.
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An EEG can help find out if there are any unique problems in the brain. When about 10 probes are placed in different parts of the brain to measure electrical and ion waves or neuronal activity, these brain wave patterns can be seen and recorded.
Electrodes for Medical Devices Market Recent Developments:
- In 2021, the Sticky Pad Surface Electrodes manufactured by Rhythmlink International, LLC (USA) received FDA approval for MR conditions in 1.5 and 3 Tesla MRI environments and can now be used safely and effectively in imaging environments.
- In 2020, Natus Medical, Inc. (USA) entered into a partnership with Holberg EEG AS (Norway). The partnership aims to improve and automate epilepsy diagnosis by developing and distributing the AutoSCORE algorithm globally.
- In 2019, Medtronic (Ireland) entered into a distribution agreement with Alpha Omega (Israel). The agreement is for the sale of Medtronic's surgical navigation products designed specifically for brain surgery.
Electrodes for Medical Devices Market Dynamics:
Growth Factors:
- Minimally invasive surgery is becoming more popular. Medical gadget electrodes are used a lot in minimally invasive surgery. Over the next few years, the electrodes market is likely to grow because people want less invasive treatments.
- As the number of people with chronic diseases like heart disease, stroke, and diabetes has gone up, the number of surgeries done around the world has gone up as well. This is likely to increase the need for electrodes in medical devices over the next few years.
- Technological Advances: The creation of new and different electrode technologies helps to improve patient results and shorten the time it takes to do surgery. This is making the electrode market grow around the world.
- Growing number of older people: The number of older people around the world is growing quickly, which is driving up demand for more advanced medical devices and processes, such as those that use electrodes for medical device sales.
Regional Outlook:
In 2016, more than 40.0% of the medical electrodes market was in North America. This is because CVD is common, people's habits are changing, and there are a lot of people who need medical electrodes in the U.S. and Canada. Together, North America and Europe should help this market grow because they have more technologically advanced electrodes than gel electrodes, like hydrogel and dry electrodes.
Asia-Pacific is projected to have a higher CAGR than other regions over the next few years. This is because different countries have taken steps to make their economies free and open. For example, the Indian government created the Goods and Services Tax (GST) to avoid cascading impacts or double taxation. This made it easier to start a business, grow it, and follow tax rules. China's recent economic reforms have led to a more balanced and open economy. These reforms have also had a big effect on the global economy in 2016, which has opened up business opportunities for Chinese market players.
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Scope of Report:
| Report Attributes | Details |
| Growth Rate | 11.3% from 2023 to 2030 |
| Market Size in 2022 | USD 775.8 Million |
| By Type | Disposable Electrodes, Reusable Electrodes, Medical Electrodes, Blood Gas Electrodes, Defibrillator Electrodes, ECG Electrodes, Other |
| By Applications | Hospitals, Clinics, Other |
| By Companies | B. Braun, Johnson & Johnson, GE Healthcare, GSI Technologies, Olympus Corporation, Conmed Corporation, Eschmann Equipment, Graphic Controls, Tianrun Medical, 3M, Ambu, Covidien-Medtronic, Kirwan Surgical, Utah Medical, ZOLL Medical, Shining Health Care, Bovie Medical, Rhythmlink International, Ardiem Medical, Greatbatch Medical, Ad-Tech Medical, Screentec Medical, Kls Martin Group, Erbe Elektromedizin., and Others |
| Base Year | 2022 |
| Historical Year | 2017 to 2021 |
| Forecast Year | 2023 to 2030 |
Electrodes for Medical Devices Market Key Segments Covered:
Top Market Players:
B. Braun, Johnson & Johnson, GE Healthcare, GSI Technologies, Olympus Corporation, Conmed Corporation, Eschmann Equipment, Graphic Controls, Tianrun Medical, 3M, Ambu, Covidien-Medtronic, Kirwan Surgical, Utah Medical, ZOLL Medical, Shining Health Care, Bovie Medical, Rhythmlink International, Ardiem Medical, Greatbatch Medical, Ad-Tech Medical, Screentec Medical, Kls Martin Group, Erbe Elektromedizin., and Others.
Electrodes for Medical Devices Market by Types:
- Disposable Electrodes
- Reusable Electrodes
- Medical Electrodes
- Blood Gas Electrodes
- Defibrillator Electrodes
- ECG Electrodes
- Other
Electrodes for Medical Devices Market by Applications:
- Hospitals
- Clinics
- Other
Regions and Countries Covered
- North America: (US, Canada, Mexico, Rest of North America)
- Europe: (Germany, France, Italy, Spain, UK, Nordic Countries, Benelux Union, Rest of Europe)
- Asia-Pacific: (Japan, China, India, Australia, South Korea, Southeast Asia, Rest of Asia-Pacific)
- The Middle East & Africa: (Saudi Arabia, UAE, Egypt, South Africa, Rest of the Middle East & Africa)
- Latin America: (Brazil, Argentina, Rest of Latin America)
- Rest Of the World
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