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According to the therapeutic electrodes industry analysis, research analysts at Technavio predict that the global therapeutic electrodes market will grow at a CAGR of close to 12% by 2021. This market research analysis identifies the rise in public awareness about cardiovascular diseases (CVDs) as one of the primary growth factors for this market. Governments and non-profit organizations (NPOs) are conducting awareness programs to spread knowledge about the diseases and treatment procedures and are also conducting workshops to educate people about the availability of CVD diagnostic devices to improve the quality of life. For instance, guidelines have been issued by the European Society of Cardiology (ESC) for the development of an international agreement paper to educate people about CVDs, help them make decisions, and provide treatment for people with heart failure. These factors will help in higher awareness levels of the use of CVD diagnostic devices and the development of associated cardiology electrodes.
The rising adoption of therapeutic electrodes in APAC is one of the major trends that will gain traction in the therapeutic electrodes market in the coming years. APAC is witnessing an increase in the incidence of hospital-acquired infections. Since the adoption of therapeutic electrodes is proportional to the increase in adoption of medical devices, this increase in hospital-acquired infections will consequently drive the growth of the therapeutic electrodes market.
The therapeutic electrodes market is fragmented due to the presence of numerous global, regional, and local vendors. Major companies are engaged in establishing M&As, which help them in strengthening their product lines. Additionally, vendors are also partnering with e-retailing websites to supply and market their therapeutic electrodes.
The leading vendors in the market are -
The other prominent vendors in the market include Adhex Technologies, Allied Medical, Beurer, Bound Tree Medical, Graphic Controls, Heart Sync, MAQUET, Richmar, Rothacher Medical, RS Medical, Technomed Electronics, TENS Units, and Koninklijke Philips.
During 2016, the defibrillator electrodes segment accounted for the major shares of this market due to the increasing incidence of CVDs. Factors such as lifestyle changes and the rising incidence of CVDs such as cardiac arrhythmia and stroke will contribute to the growth of this industry segment in the coming years.
This market study estimates that in terms of geographic regions, the Americas will be the major revenue contributor to the market by 2021. The increasing incidence of CVDs such as arrhythmia and the rising number of partnerships between governments and group purchasing organizations (GPOs) that helps in the distribution of products and accessories across the region, will be major factors fueling market growth in the Americas.
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PART 01: Executive summary
PART 02: Scope of the report
PART 03: Research Methodology
PART 04: Introduction
PART 05: Market landscape
PART 06: Market segmentation by product
PART 07: Market segmentation by end-user
PART 08: Geographical segmentation
PART 09: Decision framework
PART 10: Drivers and challenges
PART 11: Market trends
PART 12: Vendor landscape
PART 13: Key vendor analysis
PART 14: Appendix
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