LONDON--(BUSINESS WIRE)--According to the latest market study released by Technavio, the global diagnostic electrodes market is expected to grow at a CAGR of more than 12% through 2021.
This research report titled ‘Global Diagnostic Electrodes Market 2017-2021’ provides an in-depth analysis of the market in terms of revenue and emerging market trends. This market research report also includes up to date analysis and forecasts for various market segments and all geographical regions.
Though the global diagnostic electrodes market is growing at a rapid growth rate, the majority of growth will be driven by the emerging markets in APAC, South and Central America, and the Middle-East and Africa (MEA). The YoY growth rate will increase in these regions by the end of the forecast period whereas the developed markets will reach saturation.
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Technavio’s analysts categorize the global diagnostic electrodes market into six major segments by product. They are:
- ECG
- EMG
- EEG
- Neonatal and fetal scalp
- ENG
- Others
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The top three segments based on product for the global diagnostic electrodes market are discussed below:
ECG diagnostic electrodes
Many vendors offer similar products; global vendors use their patented technologies to develop innovative products whereas local vendors manufacture low-cost cardiology electrodes. This negatively affects the profit margins of global vendors that are compelled to lower their product pricing to compete with local companies. Based on the type of application, the global ECG diagnostic electrodes market is segmented into stress testing, neo-natal, long-term monitoring, resting and short-term monitoring ECG diagnostic electrodes.
According to Srinivas Sashidhar, a lead orthopedics and medical devices research analyst from Technavio, “The global ECG diagnostic electrodes market is expected to grow at a rapid pace, due to the rising incidence of CVDs worldwide. Reimbursement policies covering ECG are favorable for people, which will increase the number of people undergoing the procedures for the diagnosis of CVDs. The volume of disease diagnosis will further increase with the growing preference for the use and implementation of disposable cardiac electrodes.”
EMG diagnostic electrodes
The incidence of neurological diseases such as epilepsy, dementia, multiple sclerosis, and amyotrophic lateral sclerosis is on the rise worldwide. Vendors are also developing disposable electrodes for medical facilities as these devices help reduce the duration of sterilization process, prevent cross-contamination due to hospital-acquired infections, and lower initial costs.
“The global EMG diagnostic electrodes market is expected to grow at a steady pace during the forecast period. The rising incidence of neurological disorders is the contributing factor for the increased use of EMG devices. In 2016, Cadwell Industries has introduced Cascade Surgical Studio IONM software in the market for neuromonitoring,” says Srinivas.
EEG diagnostic electrodes
The incidence of neurological diseases such as epilepsy, dementia, multiple sclerosis, and amyotrophic lateral sclerosis is on the rise worldwide. The demand for EEG diagnostic electrodes is high due to the rising prevalence of neurological diseases. Neuromonitoring and advanced navigation help in the diagnosis of neurological disorders.
The growth of the global EEG diagnostic electrodes market is driven by rapid technological development in the product line. EEGs are available with scientifically advanced digital systems and many other innovative features.
The top vendors highlighted by Technavio’s research analysts in this report are:
- 3M
- Ambu
- Medtronic
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