Medical Electrodes Market, By Product Type (Surface Electrodes and Needle Electrodes), By Usability (Disposable Medical Electrodes and Reusable Medical Electrodes), By Modality Type (Electrocardiography (ECG), Electroencephalography (EEG), Electromyography (EMG), Brainstem Auditory Evoked Potentials (BAEPS), and Other Modality Types), By Application (Cardiology, Neurophysiology, Sleep Disorders, Intraoperative Monitoring, and Other Applications), and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Trends, Analysis and Forecast till 2030

The Global Medical Electrode Market accounted for US$ 1.63 billion in 2020 and is estimated to be US$ 2.49 billion by 2030 and is anticipated to register a CAGR of 4.3%.

Medical electrodes are devices used to transfer the energy of ionic currents in the body into electrical currents that can be studied, amplified, and used for diagnosis of the various medical indication. The medical electrode comprises of metal, lead, and electrode conducting plate. Medical electrodes are used in association with monitoring systems to provide a diagnosis and continuous monitoring of patients suffering from various diseases such as cardiology and neurology related problems. Medical industry deploys several sorts of electrodes like electrocardiography (ECG) electrodes, fetal scalp electrodes, electroencephalography electrodes, transcutaneous electrical nerve stimulation TENS electrodes, pacemaker electrodes et al. across the world. An electrode may be a medical device capable of transferring ionic current energy into electrical current within the body which will be amplified to treat also as diagnose several ailments and life threatening conditions. With an increase within the global anticipation level and burgeoning population, number of chronic and severe disease statistics has witnessed an exponential rise in past decade itself. Average annual mortality thanks to other neurological diseases was 18.8/100,000, including Alzheimer's disease and other dementias 7.1/100,000 and paralysis agitans 1.7/100,000. Migraine ranked 8th, epilepsy 20th and Alzheimer's disease 24th during 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.

Growing prevalence of cardiovascular disease

Growing 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. For instance, according to data published by the American College of Cardiology in 2017, the prevalence rate of cardiovascular disease was around 422.7 million cases, by 2015. In addition, developments in medical electrodes such as miniaturized electrodes using nanotechnology is a major factor projected to propel growth of the global medical electrodes market over the forecast period.

Growing number of infections

However, growing number of infections caused by re-use of medical electrodes are key factors hampering growth of the target market. Additionally, low biocompatibility of medical electrodes and stringent government regulations for use of medical electrodes in treatments, are other factors projected to hamper growth of the global medical electrodes market over the forecast period.

The global medical electrodes market is segmented based product type, usability, modality type, application, and region.

On the basis of product type, the global medical electrodes market is segmented into surface electrodes and needle electrodes. Based on usability, the global market is segmented into disposable medical electrodes and reusable medical electrodes. On the basis of modality type, the target market is classified into electrocardiography (ECG), electroencephalography (EEG), electromyography (EMG), brainstem auditory evoked potentials (BAEPS), and other modality types. On the basis of application, the global market is bifurcated into cardiology, neurophysiology, sleep disorders, intraoperative monitoring, and other applications.

Regional Insights:

For detailed understanding of market dynamics, based on region the global medical electrodes market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. In 2019, the market in North America dominates the global medical electrodes market in terms of revenue owing to changing lifestyle among individuals and high prevalence rate of cardiovascular diseases (CVD) in countries in the region. The market in Europe estimates for second-highest revenue share in the global market, due to high disposable income and high healthcare expenditure by governments of countries followed by markets in Latin America, Asia Pacific, and Middle East & Africa respectively. The market in Asia Pacific is accounted to have fastest growth in terms of revenue, owing to growing incidence of chronic diseases, and increasing government initiatives for the improvement of healthcare facilities in emerging economies such as India and China in the region.

Detailed Segmentation:

Global Medical Electrodes Market, By Product Type:

• Surface Electrodes
• Needle Electrodes

Global Medical Electrodes Market, By Usability:

• Disposable Medical Electrodes
• Reusable Medical Electrodes

Global Medical Electrodes Market, By Modality Type:

• Electrocardiography (ECG)
• Electroencephalography (EEG)
• Electromyography (EMG)
• Brainstem Auditory Evoked Potentials (BAEPS)
• Other Modality Types

Global Medical Electrodes Market, By Application:

• Cardiology
• Neurophysiology
• Sleep Disorders
• Intraoperative Monitoring
• Other Applications

Global Medical Electrodes Market, By Region:

• • • North America
      • North America Medical Electrodes Market, By Product Type
      • North America Medical Electrodes Market, By Usability
      • North America Medical Electrodes Market, By Modality Type
      • North America Medical Electrodes Market, By Application
      • North America Medical Electrodes Market, By Country
        • U.S.
        • Canada
    • Europe
      • Europe Medical Electrodes Market, By Product Type
      • Europe Medical Electrodes Market, By Usability
      • Europe Medical Electrodes Market, By Modality Type
      • Europe Medical Electrodes Market, By Application
      • Europe Medical Electrodes Market, By Country
        • Germany
        • UK
        • France
        • Russia
        • Italy
        • Rest of Europe
    • Asia Pacific
      • Asia Pacific Medical Electrodes Market, By Product Type
      • Asia Pacific Medical Electrodes Market, By Usability
      • Asia Pacific Medical Electrodes Market, By Modality Type
      • Asia Pacific Medical Electrodes Market, By Application
      • Asia Pacific Medical Electrodes Market, By Country
        • China
        • India
        • Japan
        • South Korea
        • Rest of Asia Pacific                                                                                                                     
• • • Latin America
      • Latin America Medical Electrodes Market, By Product Type
      • Latin America Medical Electrodes Market, By Usability
      • Latin America Medical Electrodes Market, By Modality Type
      • Latin America Medical Electrodes Market, By Application
      • Latin America Medical Electrodes Market, By Country
        • Brazil
        • Mexico
        • Rest of Latin America
    • Middle East & Africa
      • Middle East & Africa Medical Electrodes Market, By Product Type
      • Middle East & Africa Medical Electrodes Market, By Usability
      • Middle East & Africa Medical Electrodes Market, By Modality Type
      • Middle East & Africa Medical Electrodes Market, By Application
      • Middle East & Africa Medical Electrodes Market, By Country
        • GCC
        • Israel
        • South Africa
        • Rest of Middle East & Africa

Recent Development:

• In October 2022, Nihon Kohden has launched new Smart Cable NMT Pod & Disposable Electrode. Newly launched electrodes will help clinicians for monitoring neuromuscular blockade with confidence and will also help in monitoring the patients depth of paralysis during surgery when NMBA (neuromuscular blockade agent) is administered to patient.
• In January 2023, Cook Medical has launched new urological bipolar electrodes portfolio in U.S. Newly launched electrodes are designed for daily use in prostate and bladder procedure. New products includes, bipolar transurethral needle electrode, bipolar transurethral bladder loop which are angled at 136 degree for accommodating anatomy of bladder and four transurethral cutting loops 12 degree and 30 degree options which are available in medium and large sizes.
• In November 2022, Flexon has launched new four healthcare and pharma products for skin friendly adhesives, pharma labelling, and hydrogel-free electrodes which will be showcased at Medica trade fair in Germany. The company’s Omni-Wave hydrogel free technology is used in wearable sensors and electrodes.  

The key players operating the global medical electrodes market involves 3M Compnay, Cognionics, Inc., Ambu A/S, CONMED Corporation, Dymedix, Koninklijke Philips NV, Medtronic Plc, Natus Medical Incorporated, Cooper Surgical Inc., and Nihon Kohden Corporation. Prominent players operating in the target market are focusing on the strategic partnerships as well as launching of the products in order to gain competitive edge in the target market. For instance, in August 2019, Philips NV completed the acquisition of Carestream Health’s Healthcare Information Systems business in majority of relevant countries.

• • • • 3M Company
        • • Company Overview
    • • • • Product Portfolio
          • Key Highlights
          • Financial Performance
      • Cognionics, Inc.
        • • Company Overview
    • • • • Product Portfolio
          • Key Highlights
          • Financial Performance
      • Ambu A/S
        • • Company Overview
    • • • • Product Portfolio
          • Key Highlights
          • Financial Performance
      • CONMED Corporation
        • • Company Overview
    • • • • Product Portfolio
          • Key Highlights
          • Financial Performance
      • Dymedix
        • • Company Overview
    • • • • Product Portfolio
          • Key Highlights
          • Financial Performance
      • Koninklijke Philips NV
        • • Company Overview
    • • • • Product Portfolio
          • Key Highlights
          • Financial Performance
      • Medtronic Plc
        • • Company Overview
    • • • • Product Portfolio
          • Key Highlights
          • Financial Performance
      • Natus Medical Incorporated
        • • Company Overview
    • • • • Product Portfolio
          • Key Highlights
          • Financial Performance
      • Cooper Surgical Inc.
        • • Company Overview
    • • • • Product Portfolio
          • Key Highlights
          • Financial Performance
      • Nihon Kohden Corporation
        • • Company Overview
    • • • • Product Portfolio
          • Key Highlights
          • Financial Performance