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Medical Electrodes Market: Growth Analysis in Europe and North America
The medical electrodes market is expected to reach USD 732.4 Million by 2022 from USD 583.2 Million in 2017, at a CAGR of 4.7%.
"Medical Electrodes Market by Usability (Disposable, Reuse), Technology (Dry Electrodes, Wet, Needle), Diagnostic Procedures (ECG, EEG, EMG, EOG, ERG), Application (Cardio, Neurophysiology, Sleep Disorders, Intraoperative) - Global Forecast to 2022"
The medical electrodes market is expected to reach USD 732.4 Million by 2022 from USD 583.2 Million in 2017, at a CAGR of 4.7%. The growth of the market is attributed to the increasing incidence of neurological and cardiovascular disorders, subsequent growth in diagnostic procedures, growing preference for home and ambulatory healthcare, and increasing investment in R&D. Growing need for early disease diagnosis, untapped emerging markets are expected to offer significant growth opportunities for manufacturers in the coming years.
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North America to dominate the market followed by Europe
In 2017, North America is expected to account for the largest share of the Medical Electrodes Market. The high growth of the North American market is attributed to the factors such as the high incidence of neurological and cardiovascular disorders, increasing demand for technologically advanced electrodes, growing adoption of non-invasive diagnostic electrodes and increasing awareness about the benefits of early disease diagnosis.
In 2017, Europe is expected to hold the second largest share of Medical Electrodes Market. Factors such as presence of a well-established healthcare industry, significant funding for life sciences and medical research, rising geriatric population, and increasing incidence of neurodegenerative and cardiovascular disorders in several European countries are expected to fuel the market growth in this region.
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The Medical Electrodes Market is highly competitive with the presence of several small and big players. Some of the major players in the market include 3M (US), Medtronic plc (Ireland), Ambu (US), Natus Medical Incorporated (US), Rhythmlink International, LLC (US), Koninklijke Philips N.V. (Netherlands), Cognionics, Inc. (US), CONMED Corporation (US), Leonhard Lang GmbH (acquired by DCC plc), and Nihon Kohden Corporation (Japan). The other players in this market include Compumedics Limited (Australia), General Electric Company (US), g.Tec Medical Engineering GmbH (Austria), Vermed (US), Vectracor (US), Neuro Therapeutics (US), Emotiv (US), BIONEN sas (Italy), Nikomed (US), NeuroWave Systems Inc. (US), Wearable Sensing (US), Orbital Research Inc. (US), NeuroSky (US), ANT Neuro (Netherlands), and SOMNOmedics GmbH (Germany).
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