USD 1,151.6 Million Revenue Expected in Medical Electrodes Market by 2025 Says P&S Intelligence

NEW YORK, June 2, 2021 /PRNewswire/ -- With the rising volume of minimally invasive procedures, booming geriatric population, and increasing prevalence of lifestyle-associated and chronic diseases, the usage of medical electrodes is surging. As a result, the global medical electrodes market is predicted to grow at a 6.7% CAGR between 2021 and 2025, to reach $1,151.6 million by 2025.

During the first quarter of 2020, the lockdowns and movement restrictions imposed in the wake of the COVID-19 pandemic affected the medical electrodes market negatively, as the production and trade of such products came to a standstill. However, as the manufacturing sector began rebounding in the second quarter, the supply of medical electrodes to an already stressed healthcare sector resumed, which will now continue pushing up the market value in the coming years.

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On segmenting the market on the basis of modality, the categories are electroencephalography (EEG) & brainstem auditory evoked potential (BAEP), electrocardiography (ECG), electromyography (EMG), and others. Among these, the ECG category dominated the medical electrodes market in 2020 due to the already high prevalence of cardiovascular disorders, including coronary artery disease, arrhythmias, and atherosclerosis, which continues to surge.

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An ECG maps the flow of electrical current through the heart muscle, to give an idea of the heart rhythm in the form of a graph. Additionally, this test vaguely informs doctors of the blood flow into, within, and out of the heart. Since both these parameters are important in diagnosing a range of chronic diseases, the healthcare sector conducts a high volume of ECGs every day; hence, the demand for the associated electrodes is quite high.

During the forecast period, Asia-Pacific (APAC) is projected to be the fastest-growing medical electrodes market, on account of its large population of the elderly, increasing spending on healthcare, and rising incidence of chronic diseases.

To be more profitable, players in the medical electrodes market are constantly launching new and improved products.

For instance, in December 2020, the next generation of better-performance, stronger-adhesion, higher-tack, and longer-wear-duration silicone adhesives was launched by 3M Company. This line of repositionable adhesives can be used with an array of medical devices, including glucose monitoring systems, sleep and incontinence treatment devices, and wearable monitors.

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Similarly, in September 2019, Megadyne Mega Soft, a new reusable electrode, was launched by Johnson & Johnson. The added cushioning of this electrode eliminates adhesive-induced injuries and provides more comfort.

The key companies in the global medical electrodes market are 3M Company, CONMED Corporation, Medtronic plc, Johnson & Johnson, Nihon Kohden Corporation, Koninklijke Philips N.V., Natus Medical Incorporated, Ambu A/S, The Cooper Companies Inc., Leonhard Lang GmbH, BIONEN s.a.s., and Symmetry Surgical Inc.

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SOURCE P&S Intelligence