Transparency Market Research (TMR) has recently published a research
study on the global electrodes for medical devices market, estimating
the market to expand at a CAGR of 11.70% during the period from 2013
to 2019 and reach a market value of US$1.5 bn by the end of the
forecast period.The research report, titled “Electrodes for Medical
Devices Market - Global Industry Analysis, Size, Share, Growth,
Trends and Forecast, 2013 - 2019”, states that the worldwide market
for electrodes used in medical devices stood at US$0.6 bn in 2012.
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The report states that the rising demand for portable medical
devices, in order to curb the increasing hospital expenses, is
fueling the global electrodes for medical devices market. The growing
demand for minimally invasive surgeries is also adding significantly
to the growth of this market.According to the research report, the
global market for electrodes used in medical devices is segmented
into the markets for diagnostic electrodes for medical devices and
therapeutic electrodes for medical devices. The diagnostic electrodes
for medical devices segment is further classified into the markets
for ECG electrodes, EMG electrodes, EEG electrodes, fetal scalp
electrodes, ERG electrodes, and other electrodes. The ECG electrodes
segment is expected to dominate the overall diagnostic electrodes for
medical devices market, with a CAGR of 3.0% expected during the
forecast period.
TENS electrodes, defibrillator electrodes, pacemaker electrodes, and
electrosurgical electrodes are the key segments of the therapeutic
electrodes for medical devices market. Among these, the
electrosurgical electrodes market and the defibrillator electrodes
market are projected to report impressive growth during the forecast
period, says the study.Regionally, the global market for electrodes
used in medical devices has been divided into North America, Europe,
Asia Pacific, and the Rest of the World in this market study. Europe
and North America are the leading regional markets for electrodes for
medical devices. In 2012, these two regional markets collectively
accounted for more than 60% of the overall market.
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The availability of highly developed medical devices, continual
advancement of products, and increasing incidence of cardiac
disorders are the key driving forces behind the growth of this market
in these regions, notes the research study.On the other hand, the
rising disposable income, growing medical tourism, and the increasing
number of smokers has been propelling the Asia Pacific market for
electrodes used in medical devices to a great extent. Analysts
project the regional market to experience the highest growth during
the forecast period.
The market report also maps the competitive landscape of the global
electrodes for medical devices market by analyzing the company
profiles of the key participants in this market. As per the report,
the market is highly fragmented and 3M Company, Asahi Kasei Corp.,
Ambu A/S, C. R. Bard Inc., Covidien Plc., CONMED Corp., Katecho Inc.,
GE Healthcare Ltd., Medtronic Inc., Philips Healthcare, Natus Medical
Inc., Leonhard Lang GmbH, Rhythmlink International LLC, and Nikomed
USA Inc. are the major manufacturers of electrodes used in medical
devices.
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