Key Question Answer

Global Market Outlook

In-depth analysis of global and regional trends

Analyze and identify the major players in the market, their market share, key developments, etc.

To understand the capability of the major players based on products offered, financials, and strategies.

Identify disrupting products, companies, and trends.

To identify opportunities in the market.

Analyze the regional penetration of players, products, and services in the market.

Comparison of major players financial performance.

Evaluate strategies adopted by major players.

Recommendations

Medical Electrode Market

By transforming ionic current energy into electrical current within the body, an electrode is a sort of medical equipment that can be used to detect and treat a variety of ailments, including ones that may be deadly. Due to rising global life expectancy rates and population growth, the number of chronic and severe sickness statistics has exponentially increased over the previous ten years.
Medical electrodes typically consist of lead (for electrical current conduction), a metal electrode, and electrode-conducting paste or gel for surface electrodes. There are also specialised needle electrodes for skin piercings. Electrodes are used in medical settings for many different procedures and tests. With the use of medical electrodes, internal ionic currents may now be monitored on the skin, offering a generally non-invasive diagnostic for a variety of neurological, muscular, ocular, cardiac, and other diseases that would typically require surgical confirmation. For instance, electrodes can be used in muscle testing to determine whether a muscle is indeed weak or merely appears weak. They can also show signs of decreased muscular strength and differentiate between main muscle disorders and neurological issues. In general, the electrodes are easy to use, inexpensive, disposable (or easily sterilisable), and often unique in the tasks they help with. The electrode's main purpose is to guarantee ideal electrical contact between the patient and the apparatus used to measure or record activity.

Key Players
AeroScout Inc. (United States)
AiRISTA Flow (United States)
CenTrak, Inc. (Bucks County)
GE Healthcare (United States)
IBM Corporation (United States)
Sonitor (United States)
Stanley Healthcare (Canada)
Versus Technology, Inc. (United States)
Zebra Technologies(United States)

Segmentation
•    By Type
o    Disposable electrodes
o    Reusable disc electrodes
o    Headbands
o    Saline-based electrodes

•    By Material
o    Metal
o    Hydrogel
o    Foam

•    By Application
o    Cardiology
o    Neurology
o    Sleep disorders
o    Muscle
o    Nerve monitoring
o    Neonatal care

• By Distribution Channel

o Online

o Offline

. By Geography:

o North America

o Europe

o Asia-Pacific

o Latin America

o Middle East & Africa

Market Dynamics
Driver
Performance and detection accuracy of electrode manufacturers' goods can yet be enhanced. Enhancing electrode tissue interface and patient comfort are the primary objectives of technological developments in medical device electrodes to provide improved stimulation and recording. Another objective is to design electrodes with improved electrical performance at a reasonable cost. Furthermore, the primary focus of current research is on developing novel polymers, coatings with nanotextures, and integrated circuit designs in order to create future technologies that are compact and compatible. All of the previously mentioned aspects further contribute to the growth and use of medical electrodes. The global market for medical electrodes is being driven primarily by the growing rates of disease as well as the devices' portability and shrinking. The usage of gadgets for individual patients as well as in hospitals and alternative care facilities has increased as a result of their simplicity of installation and use at home.

Restraints
Due to the electrode's penetration into the SC layer, micro and nano spiked electrodes lower impedance; nonetheless, these electrodes are expensive and can cause infections and skin irritation.
Healthcare facilities searching for more affordable solutions may have an impact on the adoption of premium electrode types. It can be challenging to adhere to quality standards and regulations, especially for smaller businesses.
Allergies to electrode materials or skin discomfort may limit a patient's use. Contact with metal film electrodes for an extended period of time might cause skin irritation and allergy. Emerging technologies like non-contact monitoring devices and wireless sensors could pose a threat to the current electrode usage. It may be challenging to integrate electrodes with medical equipment and may be necessary to collaborate with the device's manufacturers.

Opportunity
Proactive and preventive healthcare practices can lower manufacturing costs, thus as a result of continuous reforms in the healthcare sector, the market for medical devices is expected to expand. Disposable electrodes are more cost-effective than reusable electrodes in the beginning. Disposable electrodes reduce the amount of time needed for sterilisation and avoid cross-contamination between patients while guaranteeing patient safety. Medical electrodes are mass-produced products that often make up a small percentage of the medical device market and leave limited opportunity for new product development. This characteristic makes the medical electrodes market very price-sensitive and competitive worldwide. However, the majority of ongoing research is concentrated on developing nanotextured coatings and polymers, thus the usage of suitable and compact devices difficult.

Recent Industry Insight
On May 2023, NeuroOne Announces U.S. Commercial Launch of Evo sEEG Electrodes.
On October 2022, Nihon Kohden Launches Smart Cable NMT Pod and Disposable Electrode
On August 2022, Sponge-like electrodes inspired by sugar cubes could improve medical monitoring
On Jan. 2023, Cook Medical launches urological bipolar electrodes portfolio
On Feb. 2023, Abbott announced two approvals as part of its growing suite of electrophysiology products in the global market.
On October 2020, OKI Launches New Series of EDM Wires Featuring Roundness of 0.25 Microns for All Its Products

Recent Acquisition and Merger
On Jan. 2021, Boston Scientific Announces Agreement To Acquire Preventice Solutions, Inc.
On March 2021, HORIBA acquires MedTest Dx and Pointe Scientific to expand laboratory Chemistry offerings
On December 2021, ZOLL Announces Closing of Acquisition of Itamar Medical

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Medical Electrode Market

Report ID : 562

Category : Medical-Devices

No Of Pages : 130

Published on: July 2024

Status: Published

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