Medical Electrodes Market Size to Reach USD 1,465.7 Million in 2030 | Emergen Research

VANCOUVER, BC, Feb. 20, 2023 /PRNewswire/ -- The medical electrodes market size reached USD 1,024.5 Million in 2021 and is expected to register a CAGR of 4.0% during the forecast period, according to latest analysis by Emergen Research. Medical electrodes market revenue growth is driven by rising prevalence of cardiovascular and neurological diseases, and surge in demand for minimally invasive surgeries. According to the World Heart Federation, cardiovascular illness, which includes heart disease and stroke, kills about 18.6 million people globally. Furthermore, more than three-quarters of these fatalities occur in low- and middle-income nations. Rheumatic fever usually affects children in impoverished nations, particularly when poverty is widespread. Rheumatic heart disease is responsible for approximately 2% of all cardiovascular disease-related deaths globally.

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Drivers:

Increase in demand for minimally invasive surgeries is another factor driving the market revenue growth. They are often used in conjunction with imaging technology such as X-ray or ultrasound to guide the surgeon during the procedure. They are used to perform different tasks such as cutting, coagulating, sealing, or removing tissue and controlling bleeding. In laparoscopic surgery, these electrodes are used to create small burns on the surface of the abdominal organs, which helps to control bleeding and reduce the risk of complications during the surgery. In other types of minimally invasive surgery such as endoscopic surgery, electrodes are used to cut, coagulate, or seal tissue. They can also be used to remove abnormal growths or tumors.

Restraints:

Safety of the medical electrodes is one of the major restraining factors for growth of the medical electrodes market. Surgery that uses electrical energy runs the danger of heat burns and tissue damage. Additionally, the compatibility of medical electrodes with different types of imaging equipment and surgical instruments can also be a restraining factor. Some electrodes may not be compatible with certain equipment, which can limit their use in certain procedures or settings.

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Growth Projections:

The medical electrodes market is expected to register a CAGR of 4.0% over the forecast period and revenue is projected to increase from USD 1,024.5 Million in 2021 to USD 1,465.7 Billion in 2030. Increased investment in research and development of medical electrodes is expected to support revenue growth of the market.

Current Trends and Innovations:

The medical electrodes market is undergoing gradual changes during the forecast period. Currently, there is a trend toward the development of new and advanced medical electrodes that can be used in a variety of surgical procedures. These new electrodes are designed to be more efficient, more precise, and more versatile than traditional electrodes. Another trend is the development of smart medical electrodes, which can monitor and adjust the electrical current based on the tissue being treated. This can help to reduce the risk of tissue damage and improve the precision of the procedure. In addition, there is also a trend towards the use of medical electrodes in new and innovative procedures such as laparoendoscopic single-site surgery (LESS), which is a type of minimally invasive surgery that uses a single incision rather than multiple incisions.

Strategic Initiatives:

Major companies included in the market report are 3M Company, CONMED Corporation, Koninklijke Philips N.V., Medtronic plc, Nihon Kohden Corporation, General Electric Company, Natus Medical Incorporated, Cardinal Health, CooperSurgical Inc., Dymedix.

• On October 2022, Nihon Kohden, a company that provides precision medical products and services in the US, revealed the launch of the Smart Cable NMT Pod and disposable electrode. This new equipment enables doctors to objectively track the degree of paralysis in patients during surgery when a neuromuscular blockade agent (NMBA) is administered.

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Scope of Research

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Emergen Research has segmented medical electrodes market on the basis of product type, usability, modality, application, and region:

• Product Type Outlook (Revenue, USD Million; 2019-2030)
• Surface Electrodes
• Needle Electrodes

• Usability Outlook (Revenue, USD Million; 2019-2030)
• Disposable Medical Electrodes
• Reusable Medical Electrodes

• Modality Outlook (Revenue, USD Million; 2019-2030)
• Electrocardiography (ECG)
• Electroencephalography (EEG)
• Electromyography (EMG)
• Brainstem Auditory Evoked Potentials (BAEPS)
• Others

• Application Outlook (Revenue, USD Million; 2019-2030)
• Cardiology
• Neurophysiology
• Sleep Disorders
• Intraoperative Monitoring
• Others

• Regional Outlook (Revenue, USD Million, 2019-2030)
• North America
• a. U.S.
• b. Canada
• c. Mexico
• Europe
• a. Germany
• b. France
• c. U.K.
• d. Italy
• e. Spain
• f. Benelux
• g. Rest of Europe
• Asia Pacific
• a. China
• b. India
• c. Japan
• d. South Korea
• e. Rest of APAC
• Latin America
• a. Brazil
• b. Rest of LATAM
• Middle East & Africa
• a. Saudi Arabia
• b. UAE
• c. South Africa
• d. Turkey
• e. Rest of MEA

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