Electrodes For Medical Devices Market To Reach $3.42 Billion By 2030

Electrodes For Medical Devices Market Growth & Trends

The global electrodes for medical devices market size is expected to reach USD 3.42 billion by 2030, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 11.2% from 2023 to 2030 The market is anticipated to witness lucrative growth during the forecast period, owing to increasing prevalence of chronic and other diseases such as heart diseases, Parkinson’s Disease (PD), Alzheimer’s disease, brain disorders, Trigeminal Neuralgia (TN or TGN), sinusitis, tinnitus, Raynaud's disease, fibromyalgia, circulatory disturbances, gout, and body ache, across the globe. 

Minimally Invasive Surgery (MIS) is one of the advancements in medical technology in which small incisions are made in the body for laparoscopy, endoscopy, arthroscopy, and other surgical procedures. This procedure is gaining popularity owing to faster recovery, lesser postsurgical infections, pain, & major bleeding, reduced scarring, and high accuracy benefits. In 2015, over 20.0 million Americans underwent MIS, which is expected to assist in the growth of this vertical during the forecast period.

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Electrodes For Medical Devices Market Report Highlights

• The diagnostics segment dominated the market in 2022. There has been an increase in the number of cardiovascular, neurological, and sleep disorders in the last few years, which has led to an increase in the number of diagnostics procedures being carried out around the world.

• Rising prevalence of heart diseases, fetal distress syndrome, ocular diseases, and neurological disorders make extensive use of Electrocardiogram (ECG), Electroencephalogram (EEG), electrosurgical, and fetal scalp electrodes

• The therapeutics segment is expected to grow at the fastest CAGR during the forecasted period. The therapeutics segment is further classified into pacemakers, Transcutaneous Electrical Nerve Stimulators (TENS), defibrillators, electrosurgical, and others.

• Defibrillator and electrosurgical electrodes are projected to hold substantial market share over the forecast period. This can be attributed to the advanced development of wearable defibrillator that constantly monitors the cardiac rhythms of the wearer and identifies & notifies the user about the occurrence of any abnormality and helps regain the normal heart functionality

• North America held the largest revenue share of 42.8% in 2022 due to the increasing prevalence of CVD in the region, the changing lifestyle of individuals, health awareness among people, and the presence of the target audience in the U.S. and Canada.

• Asia Pacific is expected to grow at the fastest CAGR of 12.7% over the forecast period. This can be attributed to the presence of chronic diseases in the region, government initiatives regarding health awareness & surge in investment in the healthcare sector.

Electrodes For Medical Devices Market Segmentation

Grand View Research has segmented the global electrodes for medical devices market based on type and region:

Electrodes For Medical Devices Type Outlook (Revenue, USD Million, 2018 - 2030)

• Diagnostics

  • Electrocardiogram (ECG)

  • Electroencephalogram (EEG)

  • Electromyogram (EMG)

  • Electroretinogram (ERG)

  • Fetal Scalp

  • Other

• Therapeutics

  • Pacemaker

  • Transcutaneous Electrical Nerve Stimulator (TENS)

  • Defibrillator

  • Electrosurgical

  • Other

Electrodes For Medical Devices Regional Outlook (Revenue, USD Million, 2018 - 2030)

• North America

  • U.S.

  • Canada

• Europe

  • UK

  • Germany

  • France

  • Italy

  • Spain

  • Sweden

  • Norway

  • Denmark

• Asia Pacific

  • Japan

  • China

  • India

  • Australia

  • Thailand

  • South Korea

• Latin America

  • Brazil

  • Mexico

  • Argentina

• Middle East and Africa

  • Saudi Arabia

  • South Africa

  • UAE

  • Kuwait

List of Key Players of Electrodes For Medical Devices Market

• 3M

• Boston Scientific Corporation

• GE HealthCare

• CONMED Corporation

• Medtronic

• Natus Medical Incorporated

• Thermo Fisher Scientific Inc.

• Asahi Kasei Corporation

• Koninklijke Philips N.V.

• X-trodes