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The diagnostic electrodes market size has the potential to grow by USD 307.09 million during 2020-2024, and the market's growth momentum will accelerate during the forecast period.
This report provides a detailed analysis of the market by product (ECG, EMG, EEG, neonatal and fetal scalp, and other products), end-user (hospitals and clinics and ASCs), geography (Asia, Europe, North America, and ROW). Also, the report analyzes the market's competitive landscape and offers information on several market vendors, including 3M Co., ADInstruments Pty Ltd., Ambu AS, Cardinal Health Inc., CONMED Corp., Koninklijke Philips NV, Medtronic Plc, Neuroelectrics Barcelona SLU, NeuroWave Systems Inc., and PMT Corp.
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The diagnostic electrodes market is fragmented. There are several global and regional vendors in the market that offer diagnostic electrodes at competitive prices. The market is highly competitive due to the presence of numerous global and regional vendors that compete on factors such as price, product portfolio, geographical coverage, and technological advances to increase their market share. New vendors find it difficult to sustain in the market due to the strong position of the leading vendors and the need for high capital investments. 3M Co., ADInstruments Pty Ltd., and Ambu AS are some of the major market participants. Although the preference for disposable electrodes will offer immense growth opportunities, the pricing pressure will challenge the growth of the market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
To help clients improve their market position, this diagnostic electrodes market forecast report provides a detailed analysis of the market leaders and offers information on the competencies and capacities of these companies. The report also covers details on the market's competitive landscape and offers information on the products offered by various companies. Moreover, this diagnostic electrodes market analysis report also provides information on the upcoming trends and challenges that will influence market growth. This will help companies create strategies to make the most of future growth opportunities.
This report provides information on the production, sustainability, and prospects of several leading companies, including:
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North America was the largest diagnostic electrodes market in 2019, and the region will offer several growth opportunities to market vendors during the forecast period. Rising public and private healthcare expenditure, favorable reimbursement policies, increasing incidence of neurological diseases, and rising older population will significantly drive diagnostic electrodes market growth in this region over the forecast period.
37% of the market's growth will originate from North America during the forecast period. The US is a key market for diagnostic electrodes in North America. Market growth in this region will be faster than the growth of the market in Europe.
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Technological advances have led to the development of ECG electrodes with superior design and reduced interference during patient monitoring procedures. They have enhanced patient comfort and the tissue edge of electrodes for better stimulation and recording. Vendors are focusing on the development of cost-effective and efficient ECG electrodes to diagnose and treat various diseases. Dry contact electrodes and dry noncontact electrodes have been developed to overcome the limitations of traditional wet Ag/AgCl electrodes.
Market growth in this segment will be faster than the growth of the market in the EMG, EEG, neonatal and fetal scalp, and ENG segments. This report provides an accurate prediction of the contribution of all the segments to the growth of the diagnostic electrodes market size.
Physicians are extensively adopting disposable electrodes over conventional reusable electrodes to minimize the prevalence of hospital-acquired infections. The rising preference for disposable electrodes will be one of the major factors driving diagnostic electrodes market growth. These electrodes require less duration for sterilization since they are low maintenance electrodes. Physicians highly prefer these electrodes because they reduce the duration of skin preparation during emergencies. These benefits encourage vendors to invest more in research and developmental activities to develop better medical electrodes. Rhythmlink has already introduced disposable MR-conditional EEG cup electrodes that offer better patient outcomes and increases the system's safety and efficiency. The diagnostic electrodes market will grow at a CAGR of about 7% during the forecast period.
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Executive Summary
Market Landscape
Market Sizing
Five Forces Analysis
Market Segmentation by Product
Segmentation by End-user
Customer landscape
Geographic Landscape
Vendor Landscape
Vendor Analysis
Appendix
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