Medical electrodes are devices which facilitate transfer of energy of ionic currents into electrical currents in the body. Medical electrodes are primarily used for diagnosis of patient to identify his/her medical condition. Medical electrodes contain lead, metal, and a conducting plate. Medical electrodes are used in combination with patient monitoring systems to provide diagnosis and for continuous monitoring of patients suffering from various diseases.
High prevalence of cardiovascular diseases (CVD), and increasing applications of medical electrodes in various clinical areas are key factors driving growth of the global medical electrodes market. In addition, developments in medical electrodes such as miniaturized electrodes using nanotechnology is a major factor expected to boost growth of the global medical electrodes market over the forecast period.
However, increasing number of infections caused by re-use of medical electrodes are key factors restraining growth of the global medical electrodes market. Additionally, stringent government regulations for use of medical electrodes in treatments, and low biocompatibility of medical electrodes are other factors projected to hamper growth of the global medical electrodes market over the forecast period.
The global medical electrodes market report has been segmented on the basis of usability, type, procedure, application, and region. On the basis of region, the global medical electrodes market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
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Currently, the market in North America dominates the global medical electrodes market in revenue terms owing to high prevalence rate of cardiovascular diseases (CVD), and changing lifestyle in countries in the region. The market in Europe accounted for second-highest revenue share in the global medical electrodes market, due to high healthcare expenditure by governments of countries, and high disposable income, followed by markets in Latin America, Asia Pacific, and Middle East & Africa respectively. The market in Asia Pacific is projected to have fastest growth in terms of revenue, owing to increasing incidence of chronic diseases, and rise in government initiatives for the improvement of healthcare facilities in emerging economies such as India and China in the region.
Prominent players in the global medical electrodes market include 3M, Medtronic plc., Ambu A/S, Natus Medical Incorporated, Rhythmlink International, LLC, Koninklijke Philips N.V., COGNIONICS, Inc., CONMED Corporation, Leonhard Lang GmbH, and NIHON KOHDEN CORPORATION.