A number of factors, such as the rising incidence of chronic illnesses and lifestyle-associated diseases, growing aging population, improving healthcare infrastructure, surging need for minimally invasive procedures, technological advancements, and rising disposable income of people, are projected to propel the growth of the medical electrodes market at a CAGR of 6.7% during the forecast period (2021–2025).
One of the major factors driving the demand for medical electrodes is the surging prevalence of chronic and lifestyle-associated illnesses. These diseases last long, limit the patients’ daily activity, and need constant medical care, and are the leading causes of disability and death, across the world. As the medical electrodes are key products required during electrical stimulation to give a statistical basis for the treatment and medical diagnosis of patients with the chronic and lifestyle-associated diseases, these electrodes are in high demand, which, in turn, drives the market growth.
Additionally, on the basis of modality, the medical electrodes industry is classified into electroencephalography (EEG) & brainstem auditory evoked potential (BAEP), electromyography (EMG), and electrocardiography (ECG). Among these, the ECG category held the largest market share in 2020, and it is projected to record the fastest growth during the foreseeable period. This can be attributed to the increasing cases of cardiovascular diseases (CVD) across the world. ECG is the primary step for the treatment and diagnosis of conduction disorders and congenital heart diseases, as it is used to measure heartbeat by placing the electrodes on the skin.
Thus, the rising incidence of chronic illnesses and lifestyle-associated diseases and the surging aging population are expected to propel the demand for medical electrodes during the forecast period.
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This study covers
- Major factors driving the market and their impact during the short, medium, and long terms
- Market restraints and their impact during the short, medium, and long terms
- Recent trends and evolving opportunities for the market participants
- Historical and the present size of the market segments and understand their comparative future potential
- Potential of on-demand logistics services, so the market players make informed decisions on the sales of their offerings
- Competitive scenario of various market segments across key countries in several regions for uncovering market opportunities for the stakeholders
- Major players operating in the market and their service offerings
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