Electrodes for Medical Devices Market Expected to Reach USD 1.45 Billion Globally in 2019: Transparency Market Research

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Jul 31, 2014, 10:30 ET

ALBANY, New York, July 31, 2014 /PRNewswire/ --

According to a new market report published by Transparency Market Research "Electrodes for Medical Devices Market (Diagnostic Electrodes - ECG, EEG, EMG, ERG and Fetal Scalp Electrodes, Therapeutic Electrodes - TENS, Pacemakers, Defibrillators, Electrosurgical and Other Electrodes) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 - 2019," the global electrodes market for medical devices was valued at USD 633.6 million in 2012 and is estimated to reach a market worth USD 1,451.2 million in 2019 at a CAGR of 11.7% from 2013 to 2019.

Browse the full Electrodes for Medical Devices Market Report at http://www.transparencymarketresearch.com/electrodes-medical-devices.html

Medical industry deploys several types of electrodes such as electrocardiography (ECG) electrodes, fetal scalp electrodes, electroencephalography electrodes, transcutaneous electrical nerve stimulation TENS electrodes, pacemaker electrodes and others across the globe. An electrode is a medical device capable of transferring ionic current energy into electrical current in the body that can be amplified to treat as well as diagnose several ailments and life threatening conditions. With a rise in the global life expectancy level and burgeoning population, number of chronic and severe disease statistics has witnessed an exponential rise in past decade itself. Average annual mortality due to other neurological diseases was 18.8/100,000, including Alzheimer's disease and other dementias 7.1/100,000 and Parkinson's disease 1.7/100,000. Migraine ranked 8th, epilepsy 20th and Alzheimer's disease 24th in a table demonstrating prevalence of all diseases measured in years lived with disability. With such an exponential rise in population and disease prevalence, the demand for affordable, compact and effective medical device have grown in past.

Medical electrodes are mass products and in most of the cases represent a sub segment or portfolio of medical device manufacturers with very little scope for product differentiation. This makes the overall market highly competitive and price sensitive in nature. The scope for development and growth for electrodes manufacturers is to enhance its performance and accuracy in monitoring and detection. Technological sophistications in medical device electrodes are primarily focused on enhancing patient comfort and improving electrodes tissue interface for improved recording and stimulation. Efforts are also aimed at development of economically priced electrodes with superior electrical performance. Furthermore, the current research areas are focused on developing various polymers, nanotextured coatings and advancing the integrated circuitry designs for rendering compact and compatible devices in future. All these aforementioned factors further boost the growth and uptake of medical electrodes.

Some of the prominent factors that drive the growth of global electrodes for medical devices are rising disease prevalence in conjunction with miniaturization and portability of the devices. This has resulted in increased device utilization not only in the hospitals and alternate care centers, but also towards the individual patient purchase as they can be easily installed and used at homes. Demand for dry and hydrogel electrodes have seen a tremendous rise in the past few years due to their better adhesion and performance. Continuous reforms in the healthcare sector are also expected to fuel growth in the medical devices market, as there is enhanced emphasis on adopting preventive and proactive healthcare measures to lower manufacturing costs. Disposable electrodes have an edge over reusable electrodes as they reduce initial costs. Disposable electrodes also eliminate cross contamination between patients and reduce the lengthy sterilization process thereby ensuring patient safety.

The global market of electrodes for medical devices has been studied on the basis of diagnostic and therapeutic types. The diagnostic segment has been analyzed by prominent categories such as electrocardiography electrodes, electroencephalography electrodes, electroretinography electrodes, fetal scalp electrodes and others. On the other hand, therapeutic segment has been categorized into pacemaker electrodes, TENS electrodes, defibrillator electrodes and electrosurgical electrodes which include guided catheter electrodes used in minimally invasive procedures. In diagnostic product segment market for ECG electrodes is anticipated as fastest growing segment with a CAGR of 3.1%. This is majorly attributed to increase in smokers, hypertension and other cardiovascular diseases prevalence across the globe. In therapeutic electrodes segment the electrosurgical electrodes market is expected to record highest growth rate followed by defibrillator electrodes. The rationale behind this is high precision, less recovery period for electrosurgical electrode devices. Whereas, government initiatives for automated external defibrillator deployment at public places and increase in cardiovascular disease prevalence will offshoot the demand for defibrillator electrodes.

Browse the full Electrodes for Medical Devices Market Report at http://www.transparencymarketresearch.com/electrodes-medical-devices.html

At regional level North America accounted for the largest market share in the year 2012 followed by Europe. This is mainly due to intense government support and technological advancements resulting in broader acceptance of the devices. In the US, the apparent disconnect between discretionary spending and demand for healthcare has protected the medical device market. Increased healthcare awareness and well established healthcare infrastructure have also contributed towards the deployment and installation of latest and technological advancements have contributed towards higher sales of the electrodes and associated devices. During the forecasted period the Asia-Pacific market is expected to be the fasted growing market. Some of the factors contributing the growth for this market include rise in disposable income, escalated government intervention to reform healthcare facilities and infrastructure developments. In addition, growing trend for medical tourism in this region also uplifts the market for medical device electrodes.

The global electrodes market is highly fragmented with the presence of well established as well as emerging market players. Some of the prominent players in the medical device electrodes market include 3M Company, Ambu A/S, CONMED Corporation, Philips Healthcare Medtronic, Inc., and Natus Medical, Inc. among others.

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The global electrodes for medical devices market is segmented as follows:

Diagnostic Electrodes for Medical Devices Market, by Diagnostic Type
ECG Electrodes

EEG Electrodes

EMG Electrodes

ERG Electrodes

Fetal Scalp Electrodes

Others
Electrodes for Medical Devices Market, by Therapeutic Type
Transcutaneous Electrical Nerve Stimulator (TENS) Electrodes

Pacemaker Electrodes

Defibrillator Electrodes

Electrosurgical Electrodes

Others
Electrodes for Medical Devices Market, by Geography
North America

Europe

Asia-Pacific

Rest of the World (RoW)

Browse All Medical Devices Market Research Reports @ http://www.transparencymarketresearch.com/medical-devices-market-reports-6.html

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