The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

The Business Research Company’s medical electrodes market report forecasts the medical electrodes market size to grow to $2.49 Billion by 2027, with a CAGR (compound annual growth rate) of 6%.

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Medical Electrodes Market Size Forecast
The global medical electrodes market is expected to grow from $1.83 billion in 2022 to $1.97 billion in 2023 at a compound annual growth rate (CAGR) of 8.0%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The medical electrodes market size is expected to grow to $2.49 billion in 2027 at a CAGR of 6.0%.

North America held the largest medical electrodes market share, and Asia-Pacific was the fastest-growing region in 2022.

Key Medical Electrodes Market Driver ­– Increase In The Prevalence Of Chronic Diseases
According to a report published by American Action Forum in September 2020, chronic disease prevalence and costs are rising in the United States. They are expected to keep rising as the disease prevalence among children and young adults rises. Chronic disease is a serious healthcare problem since the rising cost of chronic disease in the United States totals $3.7 trillion annually, which is around 19.6% of the country’s gross domestic product. Thus an increase in the prevalence of chronic diseases drives the medical electrodes market.

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Key Medical Electrodes Market Trend – Technological Advancement
The advancement of medical device electrodes is primarily focused on improving patient comfort and electrode-tissue interface for better recording and stimulation. The market is witnessing the demand for prominent electrodes such as electrocardiography electrodes, electroencephalography electrodes, and others. Major companies operating in the medical electrodes market are advancing new technologies and advanced medical electrodes products to strengthen their market position. For instance, in December 2021, Shin-Etsu Chemical Co., Ltd., a Tokyo-based chemical company, launched electrophysiological dry electrodes and high-elasticity wiring materials to help create performance traits for next wearable technology. While a person is wearing the wearable device on their body, it is possible to monitor and transmit their electrical bio signals from a distance, including vital indicators like heart rate and electrocardiogram (ECG) waveform. They assist people in enhancing their physical and mental well-being and will aid in the earlier detection and treatment of chronic disorders.

Medical Electrodes Market Segment
1) By Usability: Disposable Medical Electrodes, Reusable Medical Electrodes
2) By Technology: Wet Electrodes, Dry Electrodes, Needle Electrodes
3) By Procedure: Electrocardiography, Electroencephalography, Electromyography, Other Procedures
4) By Application: Cardiology, Neurophysiology, Sleep Disorders, Intraoperative Monitoring, Other Applications

Medical Electrodes Market Major Players and Strategies
Major players in the medical electrodes market are 3M Company, CONMED, Koninklijke Philips NV, Medtronic, Ambu A/S, Cognionics Inc., Natus Medical Incorporated, ZOLL Medical Corporation, Rhythmlink International LLC, GE Healthcare, Cooper Surgical Inc., Nissha Medical Technologies, Boston Scientific Corporation, Dymedix Diagnostics, Cardinal Health, B Braun Melsungen AG, Nihon Kohden Corporation and Thermo Fisher Scientific Inc.

In December 2020, Rhythmlink International, LLC, a US-based medical device manufacturing company, acquired Chalgren Enterprises for an undisclosed amount. With this acquisition, both companies would continue to grow the newly combined business while maintaining the integrity of both brands. Chalgren Enterprises is a US-based manufacturer of electrodes for neurodiagnostic, specializing in EMG electrodes.

The Medical Electrodes Global Market Report 2023 covers regional data on medical electrodes market size, medical electrodes market trends and drivers, opportunities, strategies, and medical electrodes market competitor analysis. The countries covered in the medical electrodes market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

A medical electrodes transmit electricity from an instrument to a patient for treatment or surgery. Medical electrodes are used to measure internal ionic currents, which leads to the diagnosis of various ocular, nervous, cardiac, and muscular disorders. It is a key component in providing the appropriate amount of electrical contact between the device that records activity and the patient. These electrodes are made of metal, lead, and a gel or paste that conducts electricity.

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