Medical Electrodes Market is Expected to Reach $2.1 billion | MarketsandMarkets.

Chicago, July 18, 2023 (GLOBE NEWSWIRE) -- In the near future, the medical electrodes industry is poised to undergo significant advancements and transformations driven by technological innovations and growing healthcare demands. As medical devices continue to evolve, so do the requirements for accurate and reliable patient monitoring and diagnostic tools. The medical electrodes industry will witness the development of advanced materials and designs that improve the performance and usability of electrodes. Innovations in conductive materials, such as flexible and stretchable materials, will enhance patient comfort and allow for better conformability to different body contours. Additionally, the integration of sensors and wireless technologies within electrodes will enable real-time monitoring and data transmission, facilitating remote patient monitoring and telehealth applications. Furthermore, there will be a focus on disposable and single-use electrodes to mitigate the risk of cross-contamination and infection transmission. As the healthcare landscape embraces digitization and personalized medicine, the medical electrodes industry will play a pivotal role in providing accurate and efficient diagnostic solutions, revolutionizing patient care and enhancing healthcare outcomes.

Medical Electrodes market in terms of revenue was estimated to be worth $1.7 billion in 2021 and is poised to reach $2.1 billion by 2026, growing at a CAGR of 4.3% from 2021 to 2026 according to a latest report published by MarketsandMarkets™. The growth of the pharmaceutical market along with the increasing R&D activities & clinical trial studies is the primary reason the market is witnessing significant growth. Furthermore, the growing adoption of oral formulations among the growing geriatric population, rising adoption of orphan drugs, and increasing uptake of biopharmaceuticals are driving the growth of the market. The emergence of multifunctional excipients, shifting focus of pharmaceutical manufacturing to emerging markets, rising focus on nutraceuticals, and the growing biosimilars industry also present significant growth opportunities for market players. However, the increasing regulatory stringency and the cost and time-intensive drug development process are expected to restrain the growth of this market to a certain extent during the forecast period.

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Medical Electrodes Market Scope:

Report Coverage	Details
Market Revenue in 2021	$1.7 billion
Estimated Value by 2026	$2.1 billion
Growth Rate	Poised to grow at a CAGR of 4.3%
Market Size Available for	2019–2026
Forecast Period	2021–2026
Forecast Units	Value (USD Billion)
Report Coverage	Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Segments Covered	Product, Usability, Technology, Application, and Region
Geographies Covered	North America, Europe, Asia Pacific, and the Rest of the World
Report Highlights	Updated financial information / product portfolio of players
Key Market Opportunities	Growth opportunities in emerging economies
Key Market Drivers	Rising incidence of neurological & cardiovascular disorders

Medical Electrodes market major players covered in the report, such as:

• Cardinal Health (US)
• 3M (US)
• ZOLL Medical Corporation (US)
• Medtronic (Ireland)
• Ambu A/S (Denmark)
• Natus Medical
• Inc. (US)
• Koninklijke Philips N.V. (Netherlands)
• B. Braun Melsungen AG (Germany)
• CONMED Corporation (US)
• GE Healthcare (US)
• Cognionics Inc. (US)
• Nihon Kohden Corporation (Japan)
• Rhythmlink International LLC (US)
• Compumedics Limited (Australia)
• Nissha Medical Technologies (Japan)
• Boston Scientific Corporation (US)
• Medline Industries (US)
• SOMNOmedics GmbH (Germany)
• g.tec medical engineering GmbH (Austria)
• Medico Electrodes International Ltd. (India)
• EMED (Poland)
• COMEPA (France)
• TZ Medical (US)
• R&D Medical Products (US)
• Wellmmlen Healthcare Tech. (Suzhou) Co. Ltd (China)
• and Among Others

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This report categorizes the medical electrodes market into the following segments and subsegments:

By Product

• Diagnostic Medical Electrodes
• Electrocardiography (ECG) Electrodes
• Electroencephalography (EEG) Electrodes
• Electromyography (EMG) Electrodes
• Other Diagnostic Electrodes [electroretinography (ERG) electrodes and electrooculography (EOG) electrodes]
• Therapeutic Medical Electrodes
• Defibrillator Electrodes
• Pacemaker Electrodes
• TENS Electrodes
• Electrosurgical Electrodes
• Neuromuscular Stimulation Electrodes (NMES)
• Other Therapeutic Electrodes (wound healing electrodes, blood gas electrodes, and iontophoresis electrodes) 

By Technology

• Wet Electrodes
• Dry Electrodes
• Needle Electrodes

By Usability

• Disposable Medical Electrodes
• Reusable Medical Electrodes

By Application

• Cardiology
• Neurophysiology
• Sleep Disorders
• Intraoperative Monitoring (IOM)
• Surgical Applications
• Other Applications (vision disorders and wound healing)

By Region

• North America
  • US
  • Canada
• Europe
  • Germany
  • France
  • UK
  • RoE
• Asia Pacific
  • Japan
  • China
  • India
  • Rest of Asia Pacific
• Rest of the World

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The key stakeholders in the Medical Electrodes market include:

• Medical Device Manufacturers: Medical device manufacturers are major stakeholders in the medical electrodes market. They design, develop, and produce a wide range of electrodes for various medical applications, including electrocardiography (ECG), electroencephalography (EEG), electromyography (EMG), and other diagnostic and therapeutic procedures.
• Healthcare Providers: Healthcare providers, such as hospitals, clinics, and diagnostic centers, are significant stakeholders in the medical electrodes market. They rely on high-quality electrodes to ensure accurate and reliable patient monitoring and diagnosis. These stakeholders often have specific requirements and preferences for electrodes based on the procedures they perform and the patient populations they serve.
• Research Institutions and Academia: Research institutions and academia contribute to the medical electrodes market through research and development activities. They work on advancing electrode technologies, exploring new materials, improving signal quality, and developing innovative applications in healthcare. Their research efforts drive progress and foster collaboration between academia and industry.
• Regulatory Authorities: Regulatory authorities, such as the Food and Drug Administration (FDA) in the United States and the European Medicines Agency (EMA) in Europe, play a crucial role in the medical electrodes market. They establish and enforce regulations and standards to ensure the safety, efficacy, and quality of medical devices, including electrodes. Compliance with these regulations is essential for manufacturers to enter the market and maintain product quality.
• Patients and Caregivers: Patients and caregivers are vital stakeholders as they directly benefit from the use of medical electrodes. Electrodes enable non-invasive monitoring and diagnosis, helping healthcare professionals make informed decisions and provide appropriate treatments. Patient feedback and comfort are important considerations in the development of electrodes, as they impact patient compliance and overall healthcare experience.
• Distributors and Suppliers: Distributors and suppliers play a significant role in the medical electrodes market. They act as intermediaries between manufacturers and end-users, ensuring the availability and efficient distribution of electrodes to healthcare facilities and providers. These stakeholders contribute to the market by managing inventory, logistics, and customer support.

Frequently Asked Questions (FAQs) of Medical Electrodes Market:

Q1. What is the total market value of Medical Electrodes Market report?

Q2. Which are the top companies holding the market share in Medical Electrodes Market?

Q3. Which are the largest regions for this Market?

Q4. What is the leading technology of Medical Electrodes Market?

Q5. What are the major drivers for this specific Market?

Q6. What are the upcoming key trends in the Medical Electrodes Market report?

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Recent Developments:

• In 2019, Medtronic (Ireland) entered into a distribution agreement with Alpha Omega (Israel). This agreement aimed to market Medtronic’s surgical navigation products designed for procedures in the brain.
• In 2020, Natus Medical, Inc. (US) entered into a partnership with Holberg EEG AS (Norway). This partnership aims to improve and automate the diagnosis of epilepsy by developing and distributing an AutoSCORE algorithm worldwide.
• In 2018, GE Healthcare (US) collaborated with Preventice Solutions (US). This collaboration is aimed to offer GE Healthcare ECG services into the home, creating a complete solution for monitoring ambulatory ECG patients.

Related Reports:

Patient Monitoring Devices Market

Brain Monitoring Market

Cardiac Monitoring Devices Market

Epilepsy Monitoring Devices Market

Diagnostic ECG Market

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