LONDON--(BUSINESS WIRE)--Technavio’s latest report on the global therapeutic electrodes market provides an analysis of the most important trends expected to impact the market outlook from 2017-2021. Technavio defines an emerging trend as a factor that has the potential to significantly impact the market and contribute to its growth or decline.
The global therapeutic electrodes market is growing in both developed and underdeveloped countries due to the increase in the prevalence of CVDs and neurophysiological disorders. The relatively higher growth rates in emerging nations are due to the rising preference for the use of disposable electrodes, mainly in ASCs. To meet the demand, companies are investing in R&D to improve their products, which can have a positive impact on market growth.
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The top three emerging trends driving the global therapeutic electrodes market according to Technavio healthcare and life science research analysts are:
- Focus on emerging countries
- Rising adoption rate of therapeutic electrodes in APAC
- Increase in R&D investments
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Focus on emerging countries
“Emerging countries have a large patient pool for neurological diseases. This increases the demand for neurological disease diagnostic devices and associated neurophysiology needles and electrodes. The rising incidence of neurological diseases and the demand for associated treatment options present significant opportunities for global vendors to offer innovative diagnostics and increase their market shares,” says Srinivas Sashidhar, a lead analyst at Technavio for research on orthopedics and medical device.
The markets in developed economies such as the US, Europe, and Japan are becoming saturated. On the other hand, emerging countries such as India, China, and other South Asian countries present significant opportunities for vendors to expand geographically. These emerging countries are undergoing rapid economic development, resulting in an improvement in living standards.
Rising adoption rate of therapeutic electrodes in APAC
“Factors such as a rise in awareness levels, increased healthcare spending, and improved diagnosis are contributing to the adoption of medical devices at a rapid rate. The rate of adoption of therapeutic electrodes is proportional to the increase in the adoption of medical devices in APAC,” adds Srinivas.
Hospital-acquired infections initiated by antibacterial-resistant microorganisms are associated with high mortality and morbidity rates, and they also affect hospital finances. The adoption of disposable TENS can reduce the infection rates in healthcare facilities. Thus, an increase in the adoption of medical devices in APAC is expected to drive the growth of the global therapeutic electrodes market.
Increase in R&D investments
Vendors are investing in the R&D of advanced technologies to develop different types of neurophysiology electrodes such as disposable, gel, and dry electrodes. Research institutes are also conducting studies to develop and validate these advanced technology-based neurophysiology electrodes for EMG and ECG. These electrodes have better design and configuration when compared with those available in the market. They offer improved patient comfort and reduce interference levels during patient monitoring.
The rising incidence of neurological diseases and the demand for associated treatment options present significant opportunities for global vendors to offer innovative diagnostics and increase their market shares. The increasing use of implantable devices such as cardiac defibrillators and pacemakers has contributed to the growth of the global therapeutic electrodes market.
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