ALBANY, New York, September 19, 2017 /PRNewswire/ --
Medical electrode are a key implement used in the diagnosis of
several types of diseases, including cardiological disorders,
neurophysiological conditions, sleep disorders, and others. Medical
electrodes operate by converting ionic current energy into
electronic energy, which can be used to detect biomarkers left by a
number of diseases. The accuracy provided by medical electrodes at
perfect convenience to the patient has made them a crucial part of
the healthcare sector. The global medical electrodes market is thus
likely to exhibit flourishing growth in the coming years on the
back of the rising demand. Steady growth of the healthcare industry
in developed regions is likely to help the growth prospects of the
global medical electrodes market in the coming years.
According to Transparency Market Research, the global medical
electrodes market is likely to exhibit a strong 6% CAGR in the
2017-2022 forecast period. The market is expected trajectory of the
global medical electrodes market is likely to carry it from
US$641.3 to US$857 mn over the
forecast period.
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Here are the key insights into the global medical electrodes
market:
Rising prevalence of lifestyle conditions in Western economies
is helpful for the growth of the global medical electrodes market.
The prevalence of cardiac disorders in particular has grown at a
rapid rate in recent years following growing adoption of sedentary
lifestyles among the consumer demographic in regions such as
North America and Western Europe. This has driven demand from
the global medical electrodes market as the convenient tool
required in diagnosis. The rising risk of cardiac problems in
developed countries such as the U.S. is likely to keep this a major
driver for the global medical electrodes market in the coming
years.
North America and Europe are the leading contributors to the
global medical electrodes market. The North America market for medical electrodes is
likely to rise to US$297.9 mn by 2022
at a strong CAGR of 6.3%, while the Europe medical electrodes market is expected
to rise to US$247.7 mn by 2022 at a
5.6% CAGR between 2017 and 2022.
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The rising use of nanotechnology in the medical devices sector
could be an important step for the global medical electrodes
market. Medical electrodes are operated through a metal detector
and conducting paste/gel, which is applied on to the patient's
body. The use of nanotechnology can improve the efficacy of this
process significantly, making medical electrodes even more relevant
diagnostically. Rising research into nanotechnology with a view to
applying nanotechnology products in medical devices is likely to
aid the growth prospects of the medical electrodes market in the
coming years.
The rising government support to the healthcare sector in
emerging regions such as Asia
Pacific and the Middle East
could be crucial to the global medical electrodes market in the
coming years. Rising economies in Asia
Pacific have turned up their efforts to improve their
healthcare and medical devices sector due to the significant
benefits this provides in terms of the overall health of the
population, which is likely to remain a key driver for the medical
electrodes market in the coming years. The Asia Pacific medical electrodes market is
expected to exhibit a robust 6.3% CAGR between 2017 and 2022 to
emerge at a valuation of US$154.2 mn
by 2022. The Middle East and
Africa market for medical
electrodes, on the other hand, is expected to generate a
significant absolute opportunity of US$7.5
mn over the 2017-2022 forecast period.
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Competitive Dynamics
The fragmented global medical electrodes market is likely to
remain intensely competitive in the coming years due to the entry
of new players in several regional markets. The steady growth of
the electronics sector and steady acceptance of medical electronics
is likely to drive new investment in the medical electrodes market
in the coming years. Leading companies in the global pacemaker
devices market include Abbott Laboratories, Medtronic Plc., Oscor
Inc., Boston Scientific Corporation, Biotronik SE & Co. KG,
Lepu Medical Technology, OSYPKA AG, Zoll Medical Corporation, and
Pacetronix Limited.
Global Medical Electrodes Market Report is available @ US$
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About TMR
Transparency Market Research (TMR) is a global market
intelligence company providing business information reports and
services. The company's exclusive blend of quantitative forecasting
and trend analysis provides forward-looking insight for thousands
of decision makers. TMR's experienced team of analysts,
researchers, and consultants use proprietary data sources and
various tools and techniques to gather and analyze information.
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