Global Medical Electrodes Market 2017-2021

Global medical electrodes market forecast

According to Technavio’s research analysis, the rising awareness about CVDs will be one of the major factors that will have a positive impact on the growth of the medical electrodes market till 2021. The awareness about CVDs and their prevention measures is rising due to the increasing number of awareness programs conducted by public and private organizations and vendors. For instance, in the US, the AHA celebrates February as the American Heart Month, designated to promote awareness about heart diseases and benefits of their early diagnosis. Also, many public and private organizations in APAC are concentrating on promoting technological advances in cardiac monitoring devices. Such initiatives by government and non-governmental organizations are raising awareness levels about the early diagnosis of CVDs that is likely to drive the growth of the global medical electrodes market during the forecast period. According to the medical electrodes industry insights, this market will grow at a CAGR of more than 8% by 2021.

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The rising focus on emerging countries will be one of the key trends that will contribute to the market growth in the forthcoming years. Rising awareness and health care spending with the better diagnosis are raising the adoption of medical devices in developing countries in APAC. Emerging countries such as China and other South Asian countries provide significant opportunities for vendors. These countries are focusing on enhancing their healthcare infrastructure to offer quality treatments. The large patient base due to the growing prevalence of CVDs and neurological diseases has raised the demand for diagnostic devices in developing countries, which, in turn, increases the adoption of medical electrodes.

Competitive landscape and key vendors  

The medical electrodes market consists of many global and regional vendors. Some of these vendors manufacture medical electrodes as sub-components. Vendors are manufacturing and marketing similar products resulting in intense competition among them. To increase their market share and strengthen their market position, vendors are highly reliant on price reductions and are offering discounts on bulk purchases of electrodes.

The leading vendors in the market are 

• 3M
• Ambu
• CONMED
• Medtronic
• Philips Healthcare

The other prominent vendors in the market are Cardinal Health, C. R. Bard, CAS Medical Systems, COGNIONICS, CooperSurgical, DIXI MEDICAL, Dymedix, Graphic Controls, Heart Sync, MAQUET, Natus Medical, NeuroWave Systems, LUMED, Shimmer, and ZOLL Medical.

Segmentation by application and analysis of the medical electrodes market

• Diagnostic electrodes
• Therapeutic electrodes

During 2016, the diagnostic electrodes segment accounted for the major shares of the medical electrodes market. Factors such as the rising volume of diagnostic procedures, the increasing prevalence of CVDs and neurological diseases and the growing preference for preventive care will contribute to the growth of the diagnostic electrodes market in the coming years.

Geographical segmentation and analysis of the medical electrodes market

• Americas
• APAC
• EMEA

This market study estimates that in terms of geographic regions, the Americas will be the major revenue contributor to the medical electrodes market throughout the forecast period. The rising prevalence of CVDs, high healthcare expenditure, and the presence of expert healthcare professionals are raising the demand for medical electrodes in the Americas.

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Key questions answered in the report include

• What will the medical electrodes market size and the growth rate be in 2021?
• What are the key factors driving the global medical electrodes market?
• What are the key medical electrodes market trends impacting the growth?
• What are the challenges to market growth?
• Who are the key vendors in the global medical electrodes market?
• What are the market opportunities and threats faced by the vendors in the global medical electrodes market?
• Trending factors influencing the market shares of the Americas, APAC, and EMEA.
• What are the key outcomes of the five forces analysis of the global medical electrodes market?

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