Medical Electrode Market Dynamics 2021-2031
Rising incidence of cardiovascular and neurological disorders, increasing investments in research and growing preference for home and ambulatory healthcare are key factors driving growth of medical electrode market. Also, growing demand for advanced diagnostic procedures and the introduction of innovative products for diagnostic medical procedures and constantly growing healthcare infrastructure across the globe is expected to fuel the growth of the market during the forecast period. However, stringent regulatory policies and the guidelines offered by regulatory bodies associated with medical electrodes are expected to restrain the market growth over the forecast period.
The "Global Medical Electrodes Market Analysis to 2031" is a specialized and in-depth study of the medical device industry with a focus on the global market trend. The report aims to provide an overview of global market with detailed market segmentation by usability, technology, application, and geography. The global medical electrodes market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading medical electrodes market players and offers key trends and opportunities in the market.
The global medical electrodes market is segmented on the basis of usability, technology, application. Based usability, the market is segmented as, disposable, reusable. The medical electrodes market is categorized based on technology into, dry electrodes, wet electrodes, needle electrodes. The application segment is segmented into cardiology, neurophysiology, sleep disorders, intraoperative monitoring and other
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides overview and forecast of the global medical electrodes market based usability, technology, application. It also provides market size and forecast till 2031 for overall market with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South & Central America. The Medical electrodes Market by each region is later sub-segmented by respective countries and segments. The report covers analysis and forecast of 13 countries globally along with current trend and opportunities prevailing in the region.
North America held over major share in the medical electrodes market in 2021 owing to the increasing prevalence of cardiovascular and neurological diseases, and presence of target population in the U.S. and Canada. North America is expected to collectively contribute towards the growth of medical electrode market owing to the presence of technologically advanced electrodes such as hydrogel and dry electrodes that provide better adhesion and conduction features as compared to gel-based electrodes. Also the development of electrode applications through use of nanotechnology is expected to influence the medical electrode market growth.
The Asia-Pacific region is predicted to grow at a fastest growth rate during the forecast period due to huge investment opportunities for the medical electrode companies in countries such as India, China, and South Korea. Also, the rapid economic growth in this region coupled with diversified population and large patient pool, drives medical electrode market in this region.
The report analyzes factors affecting medical electrodes market from both demand and supply side and further evaluates market dynamics effecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA and South & Central America after evaluating political, economic, social and technological factors effecting the medical electrodes market in these regions.
The report also includes the profiles of key medical electrodes companies along with their SWOT analysis and market strategies. In addition, the report focuses on leading industry players with information such as company profiles, components and services offered, financial information of last 3 years, key development in past five years. Some of the key players operating in the medical electrodes market include Medtronic, Koninklijke Philips N.V., 3M, General Electric Company, CONMED Corporation, Cognionics, Inc., Natus Medical Incorporated, NIHON KOHDEN CORPORATION, Rhythmlink and Ambu A/S.
REGIONAL FRAMEWORK
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Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
This text is related
to segments covered.
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
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to country scope.
1. INTRODUCTION
1.1. SCOPE OF THE STUDY
1.2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3. MARKET SEGMENTATION
1.3.1. Medical Electrode Market- By Usability
1.3.2. Medical Electrode Market- By Technology
1.3.3. Medical Electrode Market- By Application
1.3.4. Medical Electrode Market- By Region
1.3.4.1. By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. MEDICAL ELECTRODE MARKET LANDSCAPE
4.1. MARKET OVERVIEW
4.2. PEST ANALYSIS
4.2.1. North America - PEST Analysis
4.2.2. Europe - PEST Analysis
4.2.3. Asia Pacific - PEST Analysis
4.2.4. Middle East & Africa - PEST Analysis
4.2.5. South and Central America - PEST Analysis
5. MEDICAL ELECTRODE MARKET- KEY INDUSTRY DYNAMICS
5.1. KEY MARKET DRIVERS
5.2. KEY MARKET RESTRAINTS
5.3. KEY MARKET OPPORTUNITIES
5.4. FUTURE TRENDS
5.5. IMPACT ANALYSIS OF DRIVERS, RESTRAINTS & EXPECTED INFLUENCE OF COVID-19 PANDEMIC
6. MEDICAL ELECTRODE MARKET- GLOBAL ANALYSIS
6.1. MEDICAL ELECTRODE MARKET - GLOBAL MARKET OVERVIEW
6.2. MEDICAL ELECTRODE MARKET - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/ MARKET SHARE OF KEY PLAYERS
7. MEDICAL ELECTRODE MARKET REVENUE AND FORECASTS TO 2028 - USABILITY
7.1. OVERVIEW
7.2. USABILITY MARKET FORECASTS AND ANALYSIS
7.3. DISPOSABLE MEDICAL ELECTRODES MARKET
7.3.1. Overview
7.3.2. Disposable Medical Electrodes Market Forecast And Analysis (US$ Mn)
7.4. REUSABLE MEDICAL ELECTRODES MARKET
7.4.1. Overview
7.4.2. Reusable Medical Electrodes Market Forecast and Analysis (US$ Mn)
8. MEDICAL ELECTRODE MARKET REVENUE AND FORECASTS TO 2028 - TECHNOLOGY
8.1. OVERVIEW
8.2. TECHNOLOGY MARKET FORECASTS AND ANALYSIS
8.3. WET ELECTRODES MARKET
8.3.1. Overview
8.3.2. Wet Electrodes Market Forecast and Analysis (US$ Mn)
8.4. DRY ELECTRODES MARKET
8.4.1. Overview
8.4.2. Dry Electrodes Market Forecast and Analysis (US$ Mn)
8.5. NEEDLE ELECTRODES MARKET
8.5.1. Overview
8.5.2. Needle Electrodes Market Forecast and Analysis (US$ Mn)
9. MEDICAL ELECTRODE MARKET REVENUE AND FORECASTS TO 2028 - APPLICATION
9.1. OVERVIEW
9.2. APPLICATION MARKET FORECASTS AND ANALYSIS
9.3. CARDIOLOGY MARKET
9.3.1. Overview
9.3.2. Cardiology Forecast and Analysis (US$ Mn)
9.4. NEUROPHYSIOLOGY MARKET
9.4.1. Overview
9.4.2. Neurophysiology Market Forecast and Analysis (US$ Mn)
9.5. SLEEP DISORDERS MARKET
9.5.1. Overview
9.5.2. Sleep Disorders Market Forecast and Analysis (US$ Mn)
9.6. INTRAOPERATIVE MONITORING MARKET
9.6.1. Overview
9.6.2. Intraoperative Monitoring Market Forecast and Analysis (US$ Mn)
9.7. OTHERS MARKET
9.7.1. Overview
9.7.2. Others Market Forecast and Analysis (US$ Mn)
10. MEDICAL ELECTRODE MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
10.1. NORTH AMERICA MEDICAL ELECTRODE MARKET
10.1.1. North America Medical Electrode Market Forecasts and Analysis (US$ Mn)
10.1.2. North America Medical Electrode Market Forecasts and Analysis - By Usability (US$ Mn)
10.1.3. North America Medical Electrode Market Forecasts and Analysis - By Technology (US$ Mn)
10.1.4. North America Medical Electrode Market Forecasts and Analysis - By Application (US$ Mn)
10.1.5. North America Medical Electrode Market Forecasts and Analysis - By Country
10.1.6. US Market Overview
10.1.6.1. US Medical Electrode Market Forecasts and Analysis - By Usability (US$ Mn)
10.1.6.2. US Medical Electrode Market Forecasts and Analysis - By Technology (US$ Mn)
10.1.6.3. US Medical Electrode Market Forecasts and Analysis - By Application (US$ Mn)
10.1.7. Canada Market Overview
10.1.7.1. Canada Medical Electrode Market Forecasts and Analysis - By Usability (US$ Mn)
10.1.7.2. Canada Medical Electrode Market Forecasts and Analysis - By Technology (US$ Mn)
10.1.7.3. Canada Medical Electrode Market Forecasts and Analysis - By Application (US$ Mn)
10.1.8. Mexico Market Overview
10.1.8.1. Mexico Medical Electrode Market Forecasts and Analysis - By Usability (US$ Mn)
10.1.8.2. Mexico Medical Electrode Market Forecasts and Analysis - By Technology (US$ Mn)
10.1.8.3. Mexico Medical Electrode Market Forecasts and Analysis - By Application (US$ Mn)
10.2. EUROPE MEDICAL ELECTRODE MARKET
10.2.1. Europe Medical Electrode Market Forecasts and Analysis (US$ Mn)
10.2.2. Europe Medical Electrode Market Forecasts and Analysis - By Usability (US$ Mn)
10.2.3. Europe Medical Electrode Market Forecasts and Analysis - By Technology (US$ Mn)
10.2.4. Europe Medical Electrode Market Forecasts and Analysis - By Application (US$ Mn)
10.2.5. Europe Medical Electrode Market Forecasts and Analysis - By Country
10.2.6. UK Market Overview
10.2.6.1. UK Medical Electrode Market Forecasts and Analysis - By Usability(US$ Mn)
10.2.6.2. UK Medical Electrode Market Forecasts and Analysis - By Technology (US$ Mn)
10.2.6.3. UK Medical Electrode Market Forecasts and Analysis - By Application (US$ Mn)
10.2.7. Germany Market Overview
10.2.7.1. Germany Medical Electrode Market Forecasts and Analysis - By Usability(US$ Mn)
10.2.7.2. Germany Medical Electrode Market Forecasts and Analysis - By Technology (US$ Mn)
10.2.7.3. Germany Medical Electrode Market Forecasts and Analysis - By Application (US$ Mn)
10.2.8. France Market Overview
10.2.8.1. France Medical Electrode Market Forecasts and Analysis - By Usability(US$ Mn)
10.2.8.2. France Medical Electrode Market Forecasts and Analysis - By Technology (US$ Mn)
10.2.8.3. France Medical Electrode Market Forecasts and Analysis - By Application (US$ Mn)
10.3. ASIA PACIFIC MEDICAL ELECTRODE MARKET
10.3.1. Asia Pacific Medical Electrode Market Forecasts and Analysis (US$ Mn)
10.3.2. Asia Pacific Medical Electrode Market Forecasts and Analysis - By Usability (US$ Mn)
10.3.3. Asia Pacific Medical Electrode Market Forecasts and Analysis - By Technology (US$ Mn)
10.3.4. Asia Pacific Medical Electrode Market Forecasts and Analysis - By Application (US$ Mn)
10.3.5. Asia Pacific Medical Electrode Market Forecasts and Analysis - By Country
10.3.6. Japan Market Overview
10.3.6.1. Japan Medical Electrode Market Forecasts and Analysis - By Usability(US$ Mn)
10.3.6.2. Japan Medical Electrode Market Forecasts and Analysis - By Technology (US$ Mn)
10.3.6.3. Japan Medical Electrode Market Forecasts and Analysis - By Application (US$ Mn)
10.3.7. China Market Overview
10.3.7.1. China Medical Electrode Market Forecasts and Analysis - By Usability(US$ Mn)
10.3.7.2. China Medical Electrode Market Forecasts and Analysis - By Technology (US$ Mn)
10.3.7.3. China Medical Electrode Market Forecasts and Analysis - By Application (US$ Mn)
10.3.8. India Market Overview
10.3.8.1. India Medical Electrode Market Forecasts and Analysis - By Usability(US$ Mn)
10.3.8.2. India Medical Electrode Market Forecasts and Analysis - By Technology (US$ Mn)
10.3.8.3. India Medical Electrode Market Forecasts and Analysis - By Application (US$ Mn)
10.4. MIDDLE EAST & AFRICA (MEA) MEDICAL ELECTRODE MARKET
10.4.1. Middle East & Africa (MEA) Medical Electrode Market Forecasts and Analysis (US$ Mn)
10.4.2. Middle East & Africa (MEA) Medical Electrode Market Forecasts and Analysis - By Usability (US$ Mn)
10.4.3. Middle East & Africa (MEA) Medical Electrode Market Forecasts and Analysis - By Technology (US$ Mn)
10.4.4. Middle East & Africa (MEA) Medical Electrode Market Forecasts and Analysis - By Application (US$ Mn)
10.4.5. Middle East & Africa (MEA) Medical Electrode Market Forecasts and Analysis - By Country
10.4.6. South Africa Market Overview
10.4.6.1. South Africa Medical Electrode Market Forecasts and Analysis - By Usability(US$ Mn)
10.4.6.2. South Africa Medical Electrode Market Forecasts and Analysis - By Technology (US$ Mn)
10.4.6.3. South Africa Medical Electrode Market Forecasts and Analysis - By Application (US$ Mn)
10.4.7. Saudi Arabia Market Overview
10.4.7.1. Saudi Arabia Medical Electrode Market Forecasts and Analysis - By Usability (US$ Mn)
10.4.7.2. Saudi Arabia Medical Electrode Market Forecasts and Analysis - By Technology (US$ Mn)
10.4.7.3. Saudi Arabia Medical Electrode Market Forecasts and Analysis - By Application (US$ Mn)
10.4.8. UAE Market Overview
10.4.8.1. UAE Medical Electrode Market Forecasts and Analysis - By Usability(US$ Mn)
10.4.8.2. UAE Medical Electrode Market Forecasts and Analysis - By Technology (US$ Mn)
10.4.8.3. UAE Medical Electrode Market Forecasts and Analysis - By Application (US$ Mn)
10.5. SOUTH AND CENTRAL AMERICA MEDICAL ELECTRODE MARKET
10.5.1. South And Central America Medical Electrode Market Forecasts and Analysis (US$ Mn)
10.5.2. South And Central America Medical Electrode Market Forecasts and Analysis - By Usability (US$ Mn)
10.5.3. South And Central America Medical Electrode Market Forecasts and Analysis - By Technology (US$ Mn)
10.5.4. South And Central America Medical Electrode Market Forecasts and Analysis - By Application (US$ Mn)
10.5.5. South And Central America Medical Electrode Market Forecasts and Analysis - By Country
10.5.6. Brazil Market Overview
10.5.6.1. Brazil Medical Electrode Market Forecasts and Analysis - By Usability(US$ Mn)
10.5.6.2. Brazil Medical Electrode Market Forecasts and Analysis - By Technology (US$ Mn)
10.5.6.3. Brazil Medical Electrode Market Forecasts and Analysis - By Application (US$ Mn)
11. INDUSTRY LANDSCAPE
11.1. ORGANIC GROWTH STRATEGIES
11.1.1. New Product Launches
11.1.2. Marketing & Promotional Activities
11.2. INORGANIC GROWTH STRATEGIES
11.2.1. Partnerships, Collaborations, and Joint Ventures
11.2.2. Mergers & Acquisitions
12. MEDICAL ELECTRODE MARKET, KEY COMPANY PROFILES
12.1. MEDTRONIC.
12.1.1. Key Facts
12.1.2. Business Description
12.1.3. Financial Overview
12.1.4. Product Portfolio
12.1.5. SWOT Analysis
12.1.6. Key Developments
12.2. KONINKLIJKE PHILIPS N.V.
12.2.1. Key Facts
12.2.2. Business Description
12.2.3. Financial Overview
12.2.4. Product Portfolio
12.2.5. SWOT Analysis
12.2.6. Key Developments
12.3. 3M
12.3.1. Key Facts
12.3.2. Business Description
12.3.3. Financial Overview
12.3.4. Product Portfolio
12.3.5. SWOT Analysis
12.3.6. Key Developments
12.4. GENERAL ELECTRIC COMPANY
12.4.1. Key Facts
12.4.2. Business Description
12.4.3. Financial Overview
12.4.4. Product Portfolio
12.4.5. SWOT Analysis
12.4.6. Key Developments
12.5. NATUS MEDICAL INCORPORATED
12.5.1. Key Facts
12.5.2. Business Description
12.5.3. Financial Overview
12.5.4. Product Portfolio
12.5.5. SWOT Analysis
12.5.6. Key Developments
12.6. NIHON KOHDEN CORPORATION
12.6.1. Key Facts
12.6.2. Business Description
12.6.3. Financial Overview
12.6.4. Product Portfolio
12.6.5. SWOT Analysis
12.6.6. Key Developments
12.7. AMBU A/S
12.7.1. Key Facts
12.7.2. Business Description
12.7.3. Financial Overview
12.7.4. Product Portfolio
12.7.5. SWOT Analysis
12.7.6. Key Developments
12.8. RHYTHMLINK
12.8.1. Key Facts
12.8.2. Business Description
12.8.3. Financial Overview
12.8.4. Product Portfolio
12.8.5. SWOT Analysis
12.8.6. Key Developments
12.9. COGNIONICS, INC.
12.9.1. Key Facts
12.9.2. Business Description
12.9.3. Financial Overview
12.9.4. Product Portfolio
12.9.5. SWOT Analysis
12.9.6. Key Developments
12.10. CONMED CORPORATION
12.10.1. Key Facts
12.10.2. Business Description
12.10.3. Financial Overview
12.10.4. Product Portfolio
12.10.5. SWOT Analysis
12.10.6. Key Developments
13. APPENDIX
13.1. ABOUT THE INSIGHT PARTNERS
13.2. GLOSSARY OF TERMS
1. Medtronic.
2. Koninklijke Philips N.V.
3. 3M
4. General Electric Company
5. CONMED Corporation
6. Cognionics, Inc.
7. Natus Medical Incorporated
8. NIHON KOHDEN CORPORATION
9. Rhythmlink
10. Ambu A/S
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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