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GIA announces the release of a comprehensive global report on Electrodes for Medical Devices markets. Global market for Electrodes for Medical Devices is projected to reach US$1.9 billion by 2020, driven by aging population, changing lifestyles, rising obesity rates, high prevalence of chronic diseases, better access to healthcare, and growing preference for preventive care.
San Jose, California (PRWEB) February 25, 2014
Follow us on LinkedIn Demand for medical devices is on the rise, particularly diagnostic equipment. Aging population, changing lifestyles, increasing obesity levels, and improved access better healthcare are some of the factors that are driving demand for medical devices for diagnosis. Rising cost of healthcare worldwide and increasing healthcare cost burden for governments as a result of longer hospital stays are encouraging a shift towards early diagnosis and remote patient care. As a result, the number of diagnostic procedures being carried out is rising each year. Electrodes, which convert ionic currents produced by muscle and nerve cells in the body to electric currents, and further amplify them for medical devices to better monitor changes to vital parameters, are assuming critical role in the diagnosis of multiple conditions. With rising demand for medical devices in diagnosing various conditions in cardiology and neurology among others, demand for electrodes in these devices is also rising.
Medical device electrodes are commoditized products with limited scope for differentiation. The market is highly competitive, price sensitive and mature. Advances in electrode technology are primarily aimed at enhancing patient comfort, maintaining skin integrity, and improving electrode-tissue interface for improved recording and stimulation. Efforts are also aimed at the development of economically priced electrodes with superior electrical performance and resistance for dry-out. Among the current research areas in electrode technologies are development of various polymer and lattice materials, nanowire electrodes, nanotextured coatings, and integrated electronics for tissue safe high-resolution electrical measurements. Health concerns have risen over the use of reusable electrodes over the years, which in turn has resulted in the continued shift and growing adoption of single-use electrodes in various applications, a factor that is also driving the overall electrode demand. Improvement in dry electrode technology and application of nanotechnology in electrode design are also fueling growth.
Devices and techniques used in cardiac monitoring, including ECG monitoring, are increasingly becoming sophisticated. Electrodes have traditionally been considered a weak link across the chain of ECG monitoring. ECG electrodes have been known for their susceptibility to a wide gamut of functional issues such as high skin impedance, movement of the electrode cable and their poor electrical contact. Several studies have highlighted these issues setting a precedent for manufacturers to focus more on quality as well as better adhesive power of the electrode, and better performance of the conducting gel. Nonetheless, significant developments have taken place at the electrode quality level over the years. Consequently, ECG electrodes are continuing to witness growth in demand along with other after-market supplies including cables and lead wires, driven by rising procedural volume of ECG monitoring, growing use of single-use products and improving technology.
The electrodes market is witnessing a transition towards use of single-use electrodes. Physicians prefer pre-gelled, disposable electrodes that already have an in-built adhesive. This ensures ready application and easy disposal after use, and cuts down significantly personnel effort and costs. Rising nosocomial infections and other health concerns related to re-usable electrodes are other factors driving the shift. Re-usable electrodes play a major role in causing cross-infections, where cross contamination occurs mainly due to inadequate removal of the electrode gel. As stated by the new market research report on Electrodes for Medical Devices, the United States represents the largest market worldwide. Asia-Pacific is forecast to grow at the fastest CAGR of 9.9% over the analysis period.
Major players covered in the report include 3M Company, Ambu A/S, CONMED Corporation, Covidien, C.R Bard Inc., Leonhard Lang GmbH, Natus Medical Incorporated, Prosurg Inc., Rhythmlink International LLC and ZOLL Medical Corporation among others.
The research report titled Electrodes for Medical Devices: A Global Strategic Business Report announced by Global Industry Analysts Inc., provides a comprehensive review of market trends, drivers, mergers, acquisitions and strategic industry activities of companies worldwide. The report provides market estimates and projections in dollars for all major geographic markets such as the US, Canada, Japan, Europe (France, Germany, Italy, UK and Rest of Europe), Asia-Pacific, Middle East and Latin America. The report also analyzes the global market for Electrodes for Medical Devices by product segments such as Blood Gas Electrodes, Defibrillator Electrodes, ECG Electrodes, EEG/EMG/ENG Electrodes, Electrosurgical Electrodes, Ion-selective Electrodes, pH Electrodes, Pacemaker Electrodes and TENS Electrodes.
For more details about this comprehensive market research report, please visit http://www.strategyr.com/Electrodes_for_Medical_Devices_Medical_Electrodes_Market_Report.asp.
About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) is a leading publisher of off-the-shelf market research. Founded in 1987, the company currently employs over 800 people worldwide. Annually, GIA publishes more than 1300 full-scale research reports and analyzes 40,000+ market and technology trends while monitoring more than 126,000 Companies worldwide. Serving over 9500 clients in 27 countries, GIA is recognized today, as one of the world's largest and reputed market research firms.
Global Industry Analysts, Inc.
Web Site: http://www.StrategyR.com/
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