Global Medical Electrodes Market Research Report 2024-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2030

Global Medical Electrodes Market Research Report 2024-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2030

Medical electrodes can be divided into diagnostic electrodes and therapeutic medical electrodes. The diagnostic medical electrode is the energy conversion amplification of the ion current in the body, so as to achieve surface quantization, which is used for non-invasive testing. Therapeutic medical electrodes are accessories for devices that emit tiny currents to the human body, such as defibrillators and pacemakers.

Market Overview:

The latest research study on the global Medical Electrodes market finds that the global Medical Electrodes market reached a value of USD 1339.02 million in 2023. It’s expected that the market will achieve USD 1929.92 million by 2029, exhibiting a CAGR of 6.28% during the forecast period.

The trend of global aging

With the natural growth of the global population and the increasing aging of the population, the demand of the global healthcare industry is increasing, and the increase in the demand for healthcare is driving the development of the industry. Japan's Ministry of Internal Affairs and Communications, for example, released data in 2023 showing that both the number of people aged 65 and over and their share of the total population have reached a record high. According to statistics, the number of people aged 65 and above in Japan reached 36.4 million, an increase of 220,000 from last year. Population aging is a global phenomenon, with the number and proportion of older people in the population growing in almost every country in the world. In 2019, there were 703 million people aged 65 years and older worldwide. The number of older people is expected to double to 1.5 billion by 2050. The trend of global aging has driven the growth of global healthcare demand, which is one of the main factors for the continuous expansion of the pharmaceutical electrode industry market in recent years.

A significant increase in the incidence of neurological, cardiovascular and sleep disorders

Medical electrodes are mainly used in electroencephalogram, electrocardiogram and so on. EEG, which measures and records electrical activity in the brain, is used to diagnose various neurological conditions, such as epilepsy, Parkinson's and Alzheimer's disease, and to monitor sleep disorders and patients under anesthesia. ECG detection is mainly used to diagnose cardiovascular diseases and monitor cardiac function in critically ill patients. According to the World Health Organization (WHO), cardiovascular disease (CVD) is a leading cause of death and disability worldwide. Globally, 17.9 million deaths due to CVD were reported in 2016; this figure is projected to increase to23.6 million deaths by 2030. According to a report released by the Alzheimer's Association in 2021 titled Alzheimer's Disease Facts and Figures 2021, Alzheimer's dementia affects approximately 6.2 million Americans age 65 and older. With a significant increase in the incidence of neurological, cardiovascular and sleep disorders worldwide, the growth of downstream demand is one of the major drivers for the development of this industry.

Region Overview:

In 2022, the share of the Medical Electrodes market in United States stood at 31.12%.

Company Overview:

Medtronic is one of the major players operating in the Medical Electrodes market, holding a share of 12.41% in 2023.

Medtronic is one of the world's largest medical technology companies, primarily providing lifelong treatment solutions for patients with chronic diseases.

3M Company is a diversified American company that manufactures a variety of products, including abrasives, tapes and related products, and consumer electronics components.

Segmentation Overview:

Among different product types, Diagnostic Medical Electrodes segment is anticipated to contribute the largest market share in 2028.

Medical electrodes can be divided into diagnostic medical electrodes and therapeutic medical electrodes, of which diagnostic medical electrodes account for a larger share of the global medical electrode market. Diagnostic medical electrodes are mainly used for the diagnosis of electroencephalogram, electrocardiogram, electromyography, etc. Medical treatment electrodes are mainly used in the treatment of defibrillators and pacemakers.

Application Overview:

By application, the Cardiology segment occupied the biggest share from 2018 to 2022.
Medical electrodes can surface-quantify internal ionic currents and can be used as a routine non-invasive test for a variety of nerve, muscle, eye, heart, and other diseases, as well as externally release currents for therapeutic, surgical, and therefore cardiology, neurophysiology, sleep disorders, intraoperative monitoring (IOM), and surgical applications

Key Companies in the global Medical Electrodes market covered in Chapter 3:

Koninklijke Philips N.V.
Symmetry Surgical(Bovie Medical)
Ad-Tech Medical
Johnson & Johnson
Nissha GSI Technologies
Cardinal Health
Natus Medical Incorporated
CONMED Corporation
Rhythmlink International, LLC
3M Company
Medtronic
B. Braun
Zoll Medical
Olympus Corporation
Ambu
Nihon Kohden Corporation
GE Healthcare

In Chapter 4 and Chapter 14.2, on the basis of types, the Medical Electrodes market from 2019 to 2030 is primarily split into:

Diagnostic Medical Electrodes
Therapeutic Medical Electrodes

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Medical Electrodes market from 2019 to 2030 covers:

Cardiology
Neurophysiology
Sleep Disorders
Intraoperative Monitoring (IOM)
Surgical Applications

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2019-2030) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)