Medical Electrodes Market to Outstrip $3.9 Billion by 2027 Growing Sturdy at 5.1% CAGR |Nova one advisor

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[150+ Pages Research Report] According to the recent analysis research report; the global Medical Electrodes Market in 2020 was approximately USD 1.0 Billion. The market is expected to grow at a CAGR of 5.1% and is anticipated to reach around USD  3.9 Billion  by 2027. Top market players are 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),

Overview of Medical Electrodes Market Study

Medical Electrodes market study conducted by Nova One Advisor is intended at helping stakeholders get a comprehensive overview of potential challenges and undiscovered opportunities. The report offers exclusive insights to help companies and their customers to make informed decision to sustain growth through the assessment period.

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Growth Factors:

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. The medical electrodes market is segmented based on product, technology, usability, application, and region.

Global Medical Electrodes Market Dynamics

DRIVER: 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.

OPPORTUNITY: Growth opportunities in emerging economies

Emerging economies such as BRIC (Brazil, Russia, India, and China) and countries in Latin America and Southeast Asia are expected to provide significant growth opportunities to players operating in the medical electrodes market. This can primarily be attributed to the low competition in these markets, large population, a growing number of cardiovascular and neurological diseases, and rising disposable income.

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.

The disposable electrodes segment to witness the highest CAGR during the forecast period.

Based on usability, medical electrodes are categorized into disposable electrodes and reusable electrodes. In 2020, the disposable electrodes segment dominated the medical electrodes market and is also expected to register a higher growth rate than the reusable electrodes segment during the forecast period. The large share of the disposable electrodes segment is attributed to the growing adoption of disposable electrodes owing to its low risk of cross-contamination and cost-effectiveness.

North America was the largest regional market for medical electrodes market in 2020.

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.

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COVID-19 Impact on Medical Electrodes Sales

Businesses today are operating in a dynamic environment. Earlier focus primarily concentrated on keeping pace with changing consumer preferences. COVID-19 outbreak was unprecedented and exposed vulnerabilities of various industries. Pandemic-induces obstacles also were registered in the Medical Electrodes market.

Sales plummeted as COVID-19 gradually tightened its noose worldwide. Supply-chain disruptions caused massive losses, while demand took nose-dive as consumers remained indoors with affected countries implementing either partial or complete lockdown.

Gradual recovery however is on the cards with the roll out of vaccinations. Nonetheless, consecutive waves of the virus compelled businesses to stay prepared for the worst. As government and healthcare organizations successfully implement steps to contain the spread of COVID-19, industries have begun operations, albeit at a slow and more cautious pace.

Against this backdrop, Nova one advisor’s study predicts gradual recovery for the Medical Electrodes market 2021 onwards. This trend will however continue through the course of the report’s assessment period

Key Players:

This report provides detailed company profiles of the key market players. This research report also highlights the competitive landscape of the Medical Electrodes market and ranks noticeable companies as per their occurrence in diverse regions across globe and crucial developments initiated by them in the market space. This research study also tracks and evaluates competitive developments, such as collaborations, partnerships, and agreements, mergers and acquisitions; novel product introductions and developments, promotion strategies and Research and Development (R&D) activities in the marketplace. The competitive profiling of these players includes business and financial overview, gross margin, production, sales, and recent developments which can aid in assessing competition in the market.

Some of the prominent players in the Medical Electrodes market include:

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), and Wellmmlen Healthcare Tech. (Suzhou) Co., Ltd (China)

Unravelling the Critical Segments

This research report offers market revenue, sales volume, production assessment and prognoses by classifying it on the basis of various aspects including product type, application/end-user, and region. Further, this research study investigates market size, production, consumption and its development trends at global, regional, and country level for period 2017 to 2027 and covers subsequent region in its scope:

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)

Browse Complete Table of Content@ https://www.novaoneadvisor.com/toc/medical-electrodes-market

Why Buy this Report?

The purpose of Nova one advisor’s Medical Electrodes market study is to provide stakeholders with a detailed picture of potential barriers and untapped opportunities. The report contains exclusive information to assist businesses in making informed decisions about how to maintain growth throughout the assessment period.

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