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Cardiology Electrodes Market by Product and Geography - Forecast and Analysis 2021-2025

  • Published: Jul 2022
  • Pages: 120
  • SKU: IRTNTR44466
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The cardiology electrodes market share is expected to increase to USD 95.68 million from 2020 to 2025, and the market’s growth momentum will accelerate at a CAGR of 4.52%.

This cardiology electrodes market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers cardiology electrodes market segmentation by product (resting ECG electrodes, short-term monitoring ECG electrodes, long-term monitoring ECG electrodes, stress test ECG electrodes, and neonatal ECG electrodes) and geography (Europe, North America, Asia, and ROW). The cardiology electrodes market report also offers information on several market vendors, including 3M Co., Ambu AS, Bio-Protech Inc., Cardinal Health Inc., CONMED Corp., DCC Plc, Diagramm Halbach GmbH & Co. KG, Medico Electrodes International Ltd., Nikomed USA Inc., and Nissha Co. Ltd. among others.

What will the Cardiology Electrodes Market Size be During the Forecast Period?

Cardiology Electrodes Market Size

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Cardiology Electrodes Market: Key Drivers, Trends, and Challenges

Based on our research output, there has been a positive impact on the market growth during and post COVID-19 era. The increasing prevalence of CVDs is notably driving the cardiology electrodes market growth, although factors such as pricing pressure may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the cardiology electrodes industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Cardiology Electrodes Market Driver

One of the key factors driving the global cardiology electrodes market growth is the increasing prevalence of CVDs. There have been around 17.9 million deaths due to CVDs globally, representing about 32% of the total number of deaths. According to the CDC, in the US, approximately 610,000 people succumb to heart diseases every year. The CDC also reports that every year, approximately 790,000 Americans have a heart attack, of which nearly 580,000 are first attacks, and 210,000 are recurrent attacks. More than 4 million death occur every year in Europe because of CVD, primarily due to stroke and coronary heart disease (CHD). In 2020, approximately 727 million people globally were aged 65 years and above; it is expected that by 2025, the aging population would increase to around 810 million. Approximately 17 in 10,000 patients with heart disease and who are 65 years and above have sick sinus syndrome. Such factors will drive the market growth in the forecast period.

Key Cardiology Electrodes Market Challenge

One of the key challenges to the global cardiology electrodes market growth is the pricing pressure. Most vendors offer similar products, which provides consumers with several choices. Many local vendors offer electrodes at lower prices than the major vendors operating in the market to increase their market penetration, resulting in price wars. Moreover, limitations and complications associated with cardiology electrodes ECG electrodes have been associated with various limitations and drawbacks. The conventional wet Ag/AgCl electrode used for accumulating ECG signals requires a certain amount of preparation and needs the expertise of an experienced clinician to attach the electrode using the wet gel. The wet gel is associated with several disadvantages such as skin irritation, allergic reactions, and inflammation. It also creates favorable growth conditions for bacteria. Textile electrodes require high pressure for good skin and electrode contact. Such factors may hamper the market growth in the coming years.

This cardiology electrodes market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2021-2025.

Parent Market Analysis

Technavio categorizes the global cardiology electrodes market as a part of the global healthcare equipment market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the cardiology electrodes market during the forecast period.

Who are the Major Cardiology Electrodes Market Vendors?

The report analyzes the market’s competitive landscape and offers information on several market vendors, including:

 

  • 3M Co.
  • Ambu AS
  • Bio-Protech Inc.
  • Cardinal Health Inc.
  • CONMED Corp.
  • DCC Plc
  • Diagramm Halbach GmbH & Co. KG
  • Medico Electrodes International Ltd.
  • Nikomed USA Inc.
  • Nissha Co. Ltd.

 

This statistical study of the cardiology electrodes market encompasses successful business strategies deployed by the key vendors. The cardiology electrodes market is fragmented and the vendors are deploying growth strategies such as investment in R&D to compete in the market.

Product Insights and News

  • 3M Co. - The company offers cardiology electrodes under the brand, 3M Red Dot.
  • Ambu AS - The company offers cardiology electrodes under the brand, Ambu BlueSensor.

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The cardiology electrodes market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.

Cardiology Electrodes Market Value Chain Analysis

Our report provides extensive information on the value chain analysis for the cardiology electrodes market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.

Which are the Key Regions for Cardiology Electrodes Market?

Cardiology Electrodes Market Share by Geography

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41% of the market’s growth will originate from Europe during the forecast period. Germany and France are the key markets for cardiology electrodes in Europe. Market growth in this region will be faster than the growth of the market in North America.

The increasing focus on early diagnosis and prevention, the strong presence of leading vendors, the increasing number of ECG procedures, and the increasing prevalence of Cardiovascular disease (CVDs) and their related risk factors will facilitate the cardiology electrodes market growth in Europe over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

COVID Impact and Recovery Analysis

The outbreak of COVID-19 led to a lockdown in the first half of 2020 in Europe. As of June 14, 2021, the total number of COVID-19 cases in the UK, France, and Germany was 4.5 million, 5.7 million, and 1.7 million, respectively. However, the usage of disposable electrodes increased in the treatment to prevent contamination among patients, therefore, reducing the spread of COVID-19. This will help in the regional market growth during the forecast period. 

What are the Revenue-generating Product Segments in the Cardiology Electrodes Market?

Cardiology Electrodes Market Share

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The cardiology electrodes market share growth by the resting ECG electrodes segment will be significant during the forecast period. The growing number of CVD patients and the rise in the geriatric population will drive the market growth through this segment in the coming years.

This report provides an accurate prediction of the contribution of all the segments to the growth of the cardiology electrodes market size and actionable market insights on post COVID-19 impact on each segment.

 

Cardiology Electrodes Market Scope

Report Coverage

Details

Page number

120

Base year

2020

Forecast period

2021-2025

Growth momentum & CAGR

Accelerate at a CAGR of 4.52%

Market growth 2021-2025

$ 95.68 million

Market structure

Fragmented

YoY growth (%)

4.00

Regional analysis

Europe, North America, Asia, and ROW

Performing market contribution

Europe at 41%

Key consumer countries

US, Germany, France, China, and Japan

Competitive landscape

Leading companies, Competitive strategies, Consumer engagement scope

Key companies profiled

3M Co., Ambu AS, Bio-Protech Inc., Cardinal Health Inc., CONMED Corp., DCC Plc, Diagramm Halbach GmbH & Co. KG, Medico Electrodes International Ltd., Nikomed USA Inc., and Nissha Co. Ltd.

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period

Customization purview

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What are the Key Data Covered in this Cardiology Electrodes Market Report?

  • CAGR of the market during the forecast period 2021-2025
  • Detailed information on factors that will drive cardiology electrodes market growth during the next five years
  • Precise estimation of the cardiology electrodes market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the cardiology electrodes industry across Europe, North America, Asia, and ROW
  • A thorough analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of cardiology electrodes market vendors

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1. Executive Summary                           

                1.1 Market overview

                                Exhibit 01:  Key Finding 1

                                Exhibit 02:  Key Finding 2

                                Exhibit 03:  Key Finding 3

                                Exhibit 04:  Key Finding 5

                                Exhibit 05:  Key Finding 6

                                Exhibit 06:  Key Finding 7

                                Exhibit 07:  Key Finding 8

2. Market Landscape                             

                2.1 Market ecosystem             

                                Exhibit 08:  Parent market

                                Exhibit 09:  Market Characteristics

                2.2     Value chain analysis       

                                Exhibit 10:  Value chain analysis: Healthcare equipment market

                                2.2.1    Research and development

                                2.2.2    Inputs

                                2.2.3    Operations

                                2.2.4    Distribution

                                2.2.5    Marketing and sales

                                2.2.6    Post-sales and services

                                2.2.7    Industry innovations

3. Market Sizing                       

                3.1 Market definition

                                Exhibit 11:  Offerings of vendors included in the market definition

                3.2     Market segment analysis             

                                Exhibit 12:  Market segments

                3.3     Market size 2020             

                3.4     Market outlook: Forecast for 2020 - 2025              

                                Exhibit 13:  Global - Market size and forecast 2020 - 2025 ($ million)

                                Exhibit 14:  Global market: Year-over-year growth 2020 - 2025 (%)

4. Five Forces Analysis                          

                4.1 Five Forces Summary        

                                Exhibit 15:  Five forces analysis 2020 & 2025

                4.2     Bargaining power of buyers        

                                Exhibit 16:  Bargaining power of buyers

                4.3 Bargaining power of suppliers       

                                Exhibit 17:  Bargaining power of suppliers

                4.4 Threat of new entrants    

                                Exhibit 18:  Threat of new entrants

                4.5 Threat of substitutes         

                                Exhibit 19:  Threat of substitutes

                4.6 Threat of rivalry   

                                Exhibit 20:  Threat of rivalry

                4.7 Market condition

                                Exhibit 21:  Market condition - Five forces 2020

5. Market Segmentation by Product

    5.1 Market segments

                                Exhibit 22:  Product - Market share 2020-2025 (%)

                5.2     Comparison by Product

                                Exhibit 23:  Comparison by Product

                5.3     Resting ECG electrodes - Market size and forecast 2020-2025       

                                Exhibit 24:  Resting ECG electrodes - Market size and forecast 2020-2025 ($ million)

                                Exhibit 25:  Resting ECG electrodes - Year-over-year growth 2020-2025 (%)

                5.4     Short-term monitoring ECG electrodes - Market size and forecast 2020-2025        

                                Exhibit 26:  Short-term monitoring ECG electrodes - Market size and forecast 2020-2025 ($ million)

                                Exhibit 27:  Short-term monitoring ECG electrodes - Year-over-year growth 2020-2025 (%)

                5.5     Long-term monitoring ECG electrodes - Market size and forecast 2020-2025          

                                Exhibit 28:  Long-term monitoring ECG electrodes - Market size and forecast 2020-2025 ($ million)

                                Exhibit 29:  Long-term monitoring ECG electrodes - Year-over-year growth 2020-2025 (%)

                5.6     Stress test ECG electrodes - Market size and forecast 2020-2025 

                                Exhibit 30:  Stress test ECG electrodes - Market size and forecast 2020-2025 ($ million)

                                Exhibit 31:  Stress test ECG electrodes - Year-over-year growth 2020-2025 (%)

                5.7     Neonatal ECG electrodes - Market size and forecast 2020-2025   

                                Exhibit 32:  Neonatal ECG electrodes - Market size and forecast 2020-2025 ($ million)

                                Exhibit 33:  Neonatal ECG electrodes - Year-over-year growth 2020-2025 (%)

                5.6 Market opportunity by Product    

                                Exhibit 34: Market opportunity by Product

6. Customer landscape                         

                6.1     Overview           

                                Technavio’s customer landscape matrix comparing Drivers or price sensitivity, Adoption lifecycle, importance in customer price basket, Adoption rate and Key purchase criteria

                                Exhibit 35:  Customer landscape

7.    Geographic Landscape                 

                7.1     Geographic segmentation           

                                Exhibit 36:  Market share by geography 2020-2025 (%)

                7.2     Geographic comparison

                                Exhibit 37:  Geographic comparison

                7.3     Europe - Market size and forecast 2020-2025       

                                Exhibit 38:  Europe - Market size and forecast 2020-2025 ($ million)

                                Exhibit 39:  Europe - Year-over-year growth 2020-2025 (%)

                7.4     North America - Market size and forecast 2020-2025        

                                Exhibit 40:  North America - Market size and forecast 2020-2025 ($ million)

                                Exhibit 41:  North America - Year-over-year growth 2020-2025 (%)

                7.5     Asia - Market size and forecast 2020-2025             

                                Exhibit 42:  Asia - Market size and forecast 2020-2025 ($ million)

                                Exhibit 43:  Asia - Year-over-year growth 2020-2025 (%)

                7.6     ROW - Market size and forecast 2020-2025           

                                Exhibit 44:  ROW - Market size and forecast 2020-2025 ($ million)

                                Exhibit 45:  ROW - Year-over-year growth 2020-2025 (%)

                7.7     Key leading countries    

                                Exhibit 46:  Key leading countries

                7.8     Market opportunity by geography           

                                Exhibit 47:  Market opportunity by geography ($ million)

8. Drivers, Challenges, and Trends                   

                8.1 Market drivers     

                                8.1.1    Increasing prevalence of CVDs

                                8.1.2    Increasing awareness about CVDs

                                8.1.3    Technological advances

                8.2 Market challenges              

                                8.2.1    Pricing pressure

                                8.2.2    Limitations and complications associated with cardiology electrodes

                                8.2.3    Lack of skilled clinicians with expertise in ECG

                                Exhibit 48:  Impact of drivers and challenges

                8.3 Market trends      

                                8.3.1    Increasing demand for disposable electrodes

                                8.3.2    Emergence of handheld, wireless, and remote monitoring ECG devices

                                8.3.3    Focus on emerging countries

9. Vendor Landscape                             

                9.1 Overview

                9.2     Landscape disruption    

                                Exhibit 50:  Landscape disruption

                                Exhibit 51:  Industry risks

10. Vendor Analysis               

                10.1  Vendors covered            

                                Exhibit 52:  Vendors covered

                10.2  Market positioning of vendors  

                                Exhibit 53:  Matrix on vendor position and classification

                                10.3     3M Co.

                                Exhibit 54:  3M Co. - Overview

                                Exhibit 55:  3M Co. - Business segments

                                Exhibit 56: 3M Co. – Key news

                                Exhibit 57:  3M Co. - Key offerings

                                Exhibit 58:  3M Co. - Segment focus

                10.4  Ambu AS             

                                Exhibit 59:  Ambu AS - Overview

                                Exhibit 60:  Ambu AS - Business segments

                                Exhibit 61:  Ambu AS – Key news

                                Exhibit 62:  Ambu AS - Key offerings

                                Exhibit 63:  Ambu AS - Segment focus

                10.5  Bio-Protech Inc.

                                Exhibit 64:  Bio-Protech Inc. - Overview

                                Exhibit 65:  Bio-Protech Inc. - Product and service

                                Exhibit 66:  Bio-Protech Inc. - Key offerings

                                Exhibit 67:  Bio-Protech Inc. - Segment focus

                10.6  Cardinal Health Inc.        

                                Exhibit 68:  Cardinal Health Inc. - Overview

                                Exhibit 69:  Cardinal Health Inc. - Business segments

                                Exhibit 70:  Cardinal Health Inc. – Key news

                                Exhibit 71:  Cardinal Health Inc. - Key offerings

                                Exhibit 72:  Cardinal Health Inc. - Segment focus

                10.7  CONMED Corp.

                                Exhibit 73:  CONMED Corp. - Overview

                                Exhibit 74:  CONMED Corp. - Business segments

                                Exhibit 75:  CONMED Corp. - Key offerings

                                Exhibit 76:  CONMED Corp. - Segment focus

                10.8  DCC Plc

                                Exhibit 77:  DCC Plc - Overview

                                Exhibit 78:  DCC Plc - Business segments

                                Exhibit 79: DCC Plc – Key news

                                Exhibit 80:  DCC Plc - Key offerings

                                Exhibit 81:  DCC Plc - Segment focus

                10.9  Diagramm Halbach GmbH & Co. KG        

                                Exhibit 82:  Diagramm Halbach GmbH & Co. KG - Overview

                                Exhibit 83:  Diagramm Halbach GmbH & Co. KG - Product and service

                                Exhibit 84:  Diagramm Halbach GmbH & Co. KG - Key offerings

                10.10  Medico Electrodes International Ltd.    

                                Exhibit 85:  Medico Electrodes International Ltd. - Overview

                                Exhibit 86:  Medico Electrodes International Ltd. - Product and service

                                Exhibit 87:  Medico Electrodes International Ltd. - Key offerings

                                Exhibit 88:  Medico Electrodes International Ltd. - Segment focus

                10.11  Nikomed USA Inc.         

                                Exhibit 89:  Nikomed USA Inc. - Overview

                                Exhibit 90:  Nikomed USA Inc. - Product and service

                                Exhibit 91:  Nikomed USA Inc. - Key offerings

                10.12  Nissha Co. Ltd.               

                                Exhibit 92:  Nissha Co. Ltd.  - Overview

                                Exhibit 93:  Nissha Co. Ltd.  - Business segments

                                Exhibit 94: Nissha Co. Ltd. – Key news

                                Exhibit 95:  Nissha Co. Ltd.  - Key offerings

11. Appendix                            

                11.1 Scope of the report         

                                11.1.1 ????Market definition

                                11.1.2 ????Objectives

                                11.1.3 Notes and caveats

                11.2  Currency conversion rates for US$           

                                Exhibit 97:  Currency conversion rates for US$

                11.3  Research methodology

                                Exhibit 98:  Research Methodology

                                Exhibit 99:  Validation techniques employed for market sizing

                                Exhibit 100:  Information sources

                11.4  List of abbreviations      

                                Exhibit 101:  List of abbreviations

Research Framework

Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

TechnavioINFORMATION SOURCES

Primary sources

  • Manufacturers and suppliers
  • Channel partners
  • Industry experts
  • Strategic decision makers

Secondary sources

  • Industry journals and periodicals
  • Government data
  • Financial reports of key industry players
  • Historical data
  • Press releases
Technavio

TechnavioDATA ANALYSIS

Data Synthesis

  • Collation of data
  • Estimation of key figures
  • Analysis of derived insights

Data Validation

  • Triangulation with data models
  • Reference against proprietary databases
  • Corroboration with industry experts
Technavio

TechnavioREPORT WRITING

Qualitative

  • Market drivers
  • Market challenges
  • Market trends
  • Five forces analysis

Quantitative

  • Market size and forecast
  • Market segmentation
  • Geographical insights
  • Competitive landscape
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Cardiology Electrodes Market market growth will increase by $95.68 million during 2021-2025.
The cardiology electrodes market market is expected to grow at a CAGR of 4.52% during 2021-2025.
Technavio has segmented the cardiology electrodes market market by product (Resting ECG electrodes, Short-term monitoring ECG electrodes, Long-term monitoring ECG electrodes, Stress test ECG electrodes, and Neonatal ECG electrodes) and geography (Europe, North America, Asia, ROW, and MEA).
3M Co., Ambu AS, Bio-Protech Inc., Cardinal Health Inc., CONMED Corp., DCC Plc, Diagramm Halbach GmbH & Co. KG, Medico Electrodes International Ltd., Nikomed USA Inc., Nissha Co. Ltd. are a few of the key vendors in the cardiology electrodes market market.
Europe will register the highest growth rate of 41% among the other regions. Therefore, the cardiology electrodes market market in Europe is expected to garner significant business opportunities for the vendors during the forecast period.
The key factors driving the cardiology electrodes market market growth are:
  • Increasing prevalence of CVDs
  • Increasing demand for disposable electrodes
The cardiology electrodes market market vendors should focus on grabbing business opportunities from the resting ecg electrodes segment as it accounted for the largest market share in the base year.
  • What are the key global market and the regional market share?
  • What are the revenue-generating key market segments?
  • What are the key factors driving and challenging this market’s growth?
  • Who are the key market vendors and their growth strategies?
  • What are the latest trends influencing the growth of this market?
  • What are the variables influencing the market growth in the primary regions?
  • What are the factors influencing the growth of the parent market?
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