Medical Electrodes Market Driven by Growing Demand for Cardiology Procedures

Medical Electrodes Market


Medical electrodes are used in various cardiology procedures such as electrocardiography (ECG) and electrocardiograms (EKG) to monitor the electrical activity of the heart. These electrodes help in recording bioelectric signals like EEG, ECG for diagnosis of neurological and cardiac conditions.

The global medical electrodes market is estimated to be valued at US$ 1122.06 Mn in 2023 and is expected to exhibit a CAGR of 3.9% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market key trends:
The demand for medical electrodes is primarily driven by the growing geriatric population and the increasing burden of chronic diseases globally. As per the United Nations, by 2050 around 16.9% of the global population will be aged 65 and above. The aging population is more prone to developing cardiovascular diseases. With growing healthcare infrastructure and expenditure, the demand for cardiology procedures is set to increase substantially in coming years. The increasing adoption of remote patient monitoring solutions integrated with medical electrodes and sensors is also providing impetus to market growth. Manufacturers are focused on developing innovative, lightweight, long lasting, and comfortable dry hydrogel electrodes to increase patient compliance.

Segment Analysis
The global medical electrodes market is segmented based on product, application, usage, and end-user. The disposable medical electrodes segment dominates the market and is expected to witness the highest growth during the forecast period. This is owing to the increasing adoption of disposable medical electrodes as they prevent the risk of cross-contamination. The ECG electrodes segment dominates the application segment majorly due to the rising prevalence of cardiovascular diseases and the increasing demand for diagnostic electrocardiography procedures. The monitoring electrodes segment dominates the usage segment as monitoring electrodes help diagnose and monitor various medical conditions and vital body parameters. The hospitals and clinics segment dominates the end-user segment due to the large patient pool and availability of advanced medical infrastructure in hospitals.

Key Takeaways

Global Medical Electrodes Market Size is expected to witness high growth owing to the increasing geriatric population and rising prevalence of chronic and lifestyle diseases.

North America dominates the regional segment due to the presence of advanced healthcare infrastructure and growing adoption of medical monitoring devices in the region.

Key players operating in the medical electrodes market are Brenntag AG, Arkema Group, Guangxi Qinzhou Capital Success Chemical Co. Ltd, OCP SA, Grasim Industries Limited, Merck KGaA, Yunphos, Spectrum Chemical, Manufacturing Corp., Prayon SA, Emco Dyestuff Pvt. Ltd, Nutrien Ltd, Anmol Chemicals, and Vinipul Inorganics Private Limited.

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