About Diagnostic Electrodes
Diagnostic electrodes refer to medical devices that transfer the energy of ionic currents in the body into electrical currents that can be studied, amplified, and used for diagnosis of the different medical conditions. The diagnostic electrodes market has high growth prospects owing to the increasing application of Electrocardiography (ECG) in the diagnosis of cardiological diseases. The fast market growth is mainly attributed to the growth in cardiology diseases worldwide. For instance, According to the World Health Organization (WHO) in 2018, cardiovascular disease accounted for nearly 836,546 deaths in the United States.
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Unit | Value (USD Million) |
The global market is highly competitive and consists of a limited number of providers who compete with each other. The intense competition, changing consumer spending patterns, demographic trends, and frequent changes in consumer preferences pose significant opportunities for market growth. Analyst at AMA Research estimates that United States Players will contribute the maximum growth to Global Diagnostic Electrodes market throughout the forecasted period. Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
3M Company (United States), Medtronic (Ireland), Ambu (United States), Natus Medical Incorporated (United States), Rhythmlink International, LLC (United States), Koninklijke Philips N.V. (Netherlands), Rocket Medical (United Kingdom), QRS Diagnostic (United States), Cognionics, Inc. (United States) and CONMED Corporation (United States) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research coverage are Leonhard Lang GmbH (Austria) and Nihon Kohden Corporation (Japan).
Segmentation Overview
AMA Research has segmented the market of Global Diagnostic Electrodes market by Type (Electrocardiography (ECG), Electromyography (EMG), Electroencephalography (EEG), Electronystagmography (ENG) and Others), Application (Hospitals and Clinics and Ambulatory Surgical Clinics (ASCs)) and Region.
On the basis of geography, the market of Diagnostic Electrodes has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Usability, the sub-segment i.e. Disposable Electrodes will boost the Diagnostic Electrodes market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by End User, the sub-segment i.e. Hospitals and Clinics will boost the Diagnostic Electrodes market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Increased demand for direct and continuous diagnostic systems.
Market Growth Drivers:
Incresing incidence of neurological & cardiovascular disorders
Challenges:
Ensuring that electrodes can be worn comfortably for extended periods without causing discomfort or compromising signal quality
Restraints:
High cost for diognostic treatments.
Opportunities:
Improve the biocompatibility of electrode materials, reducing skin irritation and ensuring long-term wear without adverse reactions.
Market Leaders and their expansionary development strategies
In October 2022, BioIntelliSense has acquired clinical intelligence and triage system AlertWatch to expand the set of technologies distributed in the U.S. through its partnership with Medtronic.
In May 2023, NeuroOne Medical Technologies Corporation a medical technology company focused on improving surgical care options and outcomes for patients suffering from neurological disorders,has launched the Evo® sEEG electrode product line in the United States. Zimmer Biomet holds exclusive worldwide distribution rights to NeuroOne’s Evo Cortical and sEEG product lines, and the Evo product line is expected to utilize Zimmer Biomet’s ROSA One® Brain, a robotic platform that assists surgeons in planning and performing complex minimally invasive neurosurgical procedures.
Key Target Audience
Diagnostic Medical Electrode Manufacturers, Healthcare Institutions (Hospitals and Outpatient Clinics), Distributors and Suppliers Of Diagnostic Medical Electrodes, Diagnostic Centers, Neurological Centers, Health Centers/Clinics, Research Institutes and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.