The global EEG Disposable Medical Electrodes Market is estimated to be valued at US$ 736.6 Mn or Million in 2023 and is expected to exhibit a CAGR of 4.4% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
EEG disposable medical electrodes are used for electroencephalography. EEG is a test that detects the electrical activity of the brain using small, metallic disc-shaped electrodes attached to the scalp. EEG disposable medical electrodes helps in detecting abnormalities related to epilepsy, sleep disorders, brain tumors and others. They are affordable, easy to use and get discarded after a single use.
Market key trends:
One of the key trends in the EEG disposable medical electrodes market is the rising demand for long term EEG monitoring devices. Traditionally EEG was performed to detect abnormalities during seizures. However, with technological advancements, long term EEG monitoring devices are being used widely for applications such as sleep studies, epilepsy monitoring etc. Long term monitoring helps in capturing interictal EEG patterns and detecting subclinical seizures which otherwise would be missed in routine or short term EEG testing. This is increasing the demand for disposable medical electrodes which are required to attach to the scalp for long duration of EEG monitoring. Additionally, growing incidence of neurological disorders and rise in number of trauma injuries are also fueling the demand of EEG disposable medical electrodes globally.
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Market Key Trends:
The eeg disposable medical electrodes market is experiencing high growth owing to the increasing prevalence of neurological disorders. Expanding geriatric population which is more prone to develop neurological conditions like Alzheimer’s and Parkinson’s is also driving the market growth. Technological advancements in medical electrodes like gel-less electrodes and digitization are enhancing the product quality and patient comfort which is further propelling the market forward.
SWOT Analysis
Strengths: Growing acceptance of eeg procedures for various medical applications. Wide availability of inexpensive eeg disposable electrodes.
Weaknesses: Presence of substitutes like reusable electrodes increases competition. Limited medical reimbursements impact the market.
Opportunities: Untapped growth potential in developing nations. Innovations integrating Iot can open new avenues.
Threats: Stringent regulatory approvals delay product launches. Economic slowdowns affect the healthcare sector spending.
Key Takeaways
The global eeg disposable medical electrodes market is expected to witness high growth, exhibiting CAGR of 4.4% over the forecast period, due to increasing prevalence of neurological disorders. North America dominated the market in 2023 owing to growing acceptance of digital eeg procedures backed by supportive reimbursement scenarios in the region.
Regional analysis
North America accounted for the largest share of the global eeg disposable medical electrodes market in 2023 due to factors like rising neurological disease burden and availability of advanced healthcare facilities in the US and Canada. Asia Pacific is anticipated to exhibit the fastest growth over the forecast period with China and India emerging as high potential markets supported by expanding medical infrastructure and growing medical tourism.
Key players
Key players operating in the eeg disposable medical electrodes market are Medtronic Plc, 3M, Ambu A/S, GE Healthcare, Johnson & Johnson, Nissha GSI Technologies, Olympus Corporation, Conmed Corporation, Graphic Controls, Yancheng Tianrun Medical Technology Co., Ltd., B. Braun Melsungen AG, Stryker Corporation, Utah Medical Products, Inc., ZOLL Medical Corporation, Symmetry Surgical, Brain Scientific, Inc., Rhythmlink International, Erbe Elektromedizin GmbH, KLS Martin Group, Screentec Oy, Nihon Kohden Corporation, IMAC Holdings, Inc., Natus Medical Incorporated, and Koninklijke Philips N.V.
