Medical Electrodes Market: Tech Trends & leading Segments

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Medical Electrodes Market Tech Trends leading
Segments By Sanjana Rajpal The steady rise in the
number of chronic diseases reflects an urgent
need for countries worldwide to establish
healthcare programs, reforms and funds for the
public. Due to the advancing popularity of early
diagnosis and treatment, the global medical
electrodes market is expected to progress at a
growth rate of 4.99 during the forecast period
2022-2028. According to a report by World Health
Organization (WHO), approximately 17.9 million
people died from cardiovascular diseases in 2019,
accounting for nearly 32 of the global deaths.
Additionally, approximately 50 million people
worldwide suffer from neurological disorders such
as epilepsy.
Government Initiatives Key Driver The geriatric
population is increasing worldwide.
According to a report by the UN,
Population division, North America is projected
to be the second most-aged region after Europe in
the coming year, with 28 of the population aged
60 years and over in 2050. Such an increase in
the elderly
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• population increases the incidence of
  neurological and cardiovascular diseases,
  sleep-related disorders and other diseases.
• Although with an increase in the incidence of
  diseases, there has been a rise in investments in
  the research and development of all
  healthcare services. According to a WHO
  report on Global Healthcare Expenditure, the
  spending reached 8.5 trillion in 2019, i.e.,
  9.8 of global GDP, with high-income countries
  accounting for about 80 of this spending.
• Some of the government healthcare reforms and
  funding initiatives are listed as follows-
• Universal Health Coverage has focused on
  strengthening the health systems around the
  world. This ensures that people worldwide have
  access to quality healthcare without any
  financial hardship.
• Similarly, government initiative such as
  Production Linked Incentive Scheme in India for
  Medical Devices 2020 provides a financial
  incentive to boost domestic manufacturing and
  attracts large investments in medical devices.
  The government also introduced Medical Devices
  Parks Scheme in the country to support the
  medical device sector.
• Horizon Europe for funding research and
  innovation to achieve SDGs by the EU facilitates
  industrial competitiveness and optimizes
  investment impact within a strengthened European
  Research Area.
• The Federal Ministry of Education and Research in
  Germany announced an increase in medical
  technology funding further by USD 23.7million to
  address the needs of Covid-19 patients and
  advance the healthcare system.
• Such government initiatives result in increased
  investments in healthcare facilities. These
  investments result in higher production of
  medical electrodes due to their application in
  different diseases, thereby driving the growth of
  the studied market during the forecast period
  2022-2028.
• Technological Advancements - Key Opportunity
• Based on application, cardiology is anticipated
  to drive the segment with a CAGR of 5.45 during
  the forecast period 2022-2028. The electrodes
  used in this segment are developed using
  different technologies. These electrodes can
  be dry or wet, disposable or reusable,
  wireless or wired, depending on the usage and
  type of treatment like ECG, EEG, EMG and others.
• The diagnostic is expected to drive the
  type segment with a CAGR of 4.88 during
  the forecast

period 2022-2028. The demand for electrodes
has been growing rapidly due to
technological
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• advancements for increasing the portability of
  medical electrodes, the rising need for
  preventive medicine and the increasing number of
  chronic diseases.
• With digitalization and technological
  advancements, consumer demand is changing based
  on new product patterns. For instance,
  the developments in medical electrode
  applications using miniaturization with the
  help of nanotechnology is a major trend, boosting
  the market growth. The process makes the
  electrodes portable, resulting in higher density,
  localized stimulation control, and greater
  tissue-sensing resolution.
• Conclusion
• The development, manufacturing, distribution and
  sale of medical electrodes are subject to
  stringent regulatory processes for their safety,
  quality and performance checks. They are also
  subjected to various environmental health and
  safety laws requiring proper sterilization.
  However, the diversified portfolio of competitors
  and acquisitions drives the global medical
  electrode market with new technology and a
  streamlined process.
• Some of the key partnerships and acquisitions
  are
• With the acquisition of Itamar Medical Ltd, ZOLL
  Medical Corporation hopes to improve
  communication between the fields of cardiology
  and sleep medicine while assisting more patients
  in receiving a diagnosis and treatment for
  sleep-disordered breathing.
• Nihon Kohden acquired AMP3D to integrate the Saas
  platform of AMP3D into their healthcare
  ecosystem.
• GE Healthcare acquired BK to expand GEs
  Ultrasound business from diagnostics to surgical
  and therapeutic interventions.
• Johnson and Johnsons Ethicon business completed
  the acquisition of Auris Health to expand the
  digital surgery portfolio and bring disruptive
  innovation to the complete continuum of
  procedures, including open, laparoscopic,
  endoluminal and robotic.

FAQ Q1) What are the revenue estimates for the
global medical electrodes market? The global
medical electrodes market was valued at 1644.51
million in 2021 and is expected to reach 2327.58
million by 2028.
Q2) What are the segments covered in the medical
electrodes market?
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The medical electrodes market covers types,
usability, application, and product segments.