EEG DISPOSABLE MEDICAL ELECTRODES MARKET ANALYSIS

The global EEG disposable medical electrodes market is estimated to be valued at US$ 736.6 million  in 2023 and is expected to exhibit a CAGR of 4.4% during the forecast period (2023-2030).

Analysts’ Views on Global EEG Disposable Medical Electrodes Market:

Increasing launch of the new EEG disposable medical electrodes is expected to drive the market growth over the forecast period. For instance, in April 2020, Nihon Kohden Corporation, medical device company, a U.S. based medical device company, announced the launch of a new Premium Disposable Gold Cup EEG Electrode to the healthcare community. Each package of Premium Disposable Gold Cup EEG Electrodes includes 10 gold cup electrodes, and are available in four convenient cable lengths, including 40, 60, 80, and 100-inch, for ease of use in most test situations.

Figure 1. Global EEG Disposable Medical Electrodes Market  Share (%), by Product Type, 2023

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Global EEG Disposable Medical Electrodes Market– Driver

Rising prevalence of neurological disorders such as epilepsy, parkinson disease, alzheimer’s and dementia, and cerebrovascular diseases across the world

High incidence of neurological disorders such as Parkinson disease, epilepsy, alzheimer’s, dementia, and cerebrovascular diseases across the world is expected to boost growth of the global EEG (Electroencephalography) devices market over the forecast period. For instance, in June 2022, according to the data published by the National Center for Biotechnology Information, it was estimated that Parkinson's disease (PD) affects 1-2 per 1000 of the North American population. The Parkinson's disease (PD) is found more common in men or people designated male at birth (DMAB) than in women or people designated female at birth (DFAB).

Rise in disposable income among the population of developing nations

The rise in disposable income among the population of developing nations is expected to the drive the global EEG disposable medical electrodes market growth. For instance, in April 2022, according to the data published by the Organisation for Economic Co-operation and Development, an intergovernmental organization, between 2019–2030, the number of households with an annual disposable income of US$ 45,000-100,000 across developing countries has been rised by 5.6% per year on average, far exceeding the average annual growth of 1.2% expected for the total number of households.

Figure 2. Global EEG Disposable Medical Electrodes Market  Value (US$ Billion), by Region, 2023

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Global EEG Disposable Medical Electrodes Market- Regional Analysis

Among regions, North America is estimated to hold a dominant position in the global EEG disposable medical electrodes market over the forecast period. This is attributed to the increasing prevalence of neurodegenerative disorder. For instance, on January 05, 2023, the National Institute of Neurological Disorders and Stroke, medical trial health authority, estimated that there are more than 600 neurologic disorders, with approximately 50 million North Americans affected each year.

Global EEG Disposable Medical Electrodes Market– Impact of Coronavirus (COVID-19) Pandemic

Since the COVID-19 virus outbreak in December 2019, the disease spread to over 100 countries across the globe, and the World Health Organization declared it a public health emergency on January 30, 2020.

The COVID-19 pandemic had a negative impact on the global EEG disposable medical electrodes market. This is because there was a disruption in supply chain management, and neurodegenerative surgeries were on hold impacting the EEG disposable medical electrodes employed in the diagnosis and therapy procedures. For instance, in September 2021, according to the data published by the National Center for Biotechnology Information, in an article titled "COVID-19: retrospective analysis of Joint Programme– Neurodegenerative Disease Research (JPND)" published in the European Academy of Neurology Journal in August 2022, stated that on January 01, 2020, in 53 Germany-based neurodegenerative therapy departments, and 500 intensive care beds were allocated. This capacity was reduced to 395 beds in April 2021 by a 25.6% decrease as compared the year 2020. As a result, the number of operating rooms for surgical procedures was reduced from 207 to 152 (-26.9%) during the first two lockdowns.

Global EEG Disposable Medical Electrodes Market  Segmentation:

The global EEG disposables medical electrodes market report is segmented into product type, application, end user, and region.

Based on Product type, the global EEG Disposables Medical Electrodes Market is segmented into needle electrodes, patch electrodes, cup electrodes, disk electrodes, and others. Out of which, the needle electrode is expected to dominate the global EEG disposables medical electrodes market during the forecast period and this is due to the increasing adoption of the needle electrodes nerve stimulation therapy for the treatment of the spinal cord related disorders, such as spinal stenosis, herniated discs, etc. For instance, in March 2022, according to the data published by the National Center Biotechnology Information, it was estimated that 57.25% of the physicians globally has adopted the needle electrode nerve stimulation therapy for treating the spinal stenosis as well as correction of the spinal cord posture.

Based on Application, the global EEG Disposables Medical Electrodes Market is segmented into diagnostic, therapeutic, and others. Out of which, the diagnostics is expected to dominate the global EEG Disposables Medical Electrodes Market during the forecast period and this is due to the increased application of the EEG disposable medical electrodes for the diagnosis purpose. For instance, in April 2020, according to the data published by the ScienceDirect Elsevier B.V., it was estimated that the application of the EEG disposables medical electrodes has expanded for  electrophysiologic evaluation of the pelvic floor as well as evaluation of the anal sphincter by anal endosonography. A needle electrode inserted into the interal anal spinchter can determine both its activity and muscular quality. Sphincter denervation is followed by reinnervation via neighboring healthy axons, which can be quantified electromyographically because the recorded action potentials become polyphasic.

Based on End user, the global EEG Disposables Medical Electrodes Market is segmented into hospitals and clinics, diagnostic centers, and ambulatory surgical centers. The hospitals and clinics segment is expected to dominate the market over the forecast period and this is due to the increasing prevalence of neurodegenerative disorders world wide has increased the demand for the EEG disposable medical electrodes in the hospitals and clinics. For instance, in March 2021, according to the data published by the European Academy of Neurology, it was estimated that 307,859,199 people are suffering from the neurological diseases in the European Union in the year 2021.

Among all the segmentations, the product type segment has the highest potential due to the increasing adoption of growth strategies such as collaboration by the market players. For instance, in June 2022, Orchestra BioMed, Inc., a biomedical company, announced Strategic Collaboration, with the closing of US$ 110 million  in Private Equity Financing and Plans to List on Nasdaq Through a Merger with Health Sciences Acquisitions Corporation 2, a blank check company. Under the collaboration, multiple significant transactions is included such as:

A global strategic collaboration between Orchestra BioMed, a biomedical innovation company and Medtronic plc., a medical device company to develop Orchestra BioMed BackBeat Neuromodulation Therapy (NT) as a potential treatment for hypertension in patients who are indicated for a brain stroke.

Global EEG Disposable Medical Electrodes Market Cross Sectional Analysis:

Increasing research & development activities by key market players are driving the growth of the product type segment in North America region. For instance, on May 20, 2023, Cleveland Clinic, a non-profit academic medical center, that provides clinical and hospital care and is a leader in research, education, and health information,n initiated a clinical trial and the results shows OpenBCI Gold Cup Electrodes to be safe and effective for patients with epilepsy and brain tumor issues.  

Global EEG Disposable Medical Electrodes Market: Key Developments

On February 09, 2023, Koninklijke Philips N.V., a global leader in health technology, announced that it had entered into a long-term strategic partnership with TriHealth, a leading Cincinnati-based integrated healthcare delivery system, to adopt Philips’ integrated portfolio of neuroscience solutions for its new TriHealth Neuroscience Institute on the campus of Bethesda North Hospital and the Harold and Eugenia Thomas Comprehensive Care Center.

On March 20, 2023, IMAC Holdings, Inc., a regenerative rehabilitation company focused on treating musculoskeletal and neurodegenerative disease, and Brain Scientific, Inc. (“Brain Scientific”), a Florida-based applied science technology company, announced merger to create synergistic total neurological solution. The merger between the IMAC Holdings, Inc., and Brain Scientific, Inc., will provide the total solutions, from diagnosis to treatment, for patients with neurological disorders including Parkinson’s, Alzheimer's, and stroke.

Global EEG Disposable Medical Electrodes Market: Key Trend

Increasing research & development activities

Increasing number of research & development activities for assessing the safety and efficacy of EEG Disposable Medical Electrodes, is expected to drive the growth of the market over the forecast period. For instance, on June 20 2023, according to the data published by the National Center for Biotechnology Information, the researchers from the University of Lowa Carver College of Medicine, medical school in Lowa, U.S., announced that an EEG test could help doctors predict cognition problems in people with Parkinson’s disease. The researchers found out that EEG tests could help improve the diagnosis of cognitive decline in people with Parkinson’s, and lead to new biomarkers that could be used to target therapies to treat the disease’s cognitive symptoms. The diposable medical electrodes pick up the electrical activity in the brain and display them as visual patterns on a computer screen. The visual patterns are then interpreted by a neurologist to check for any issues.

Global EEG Disposable Medical Electrodes Market: Restraints

Growing Use of Alternative Products

Increasing use of the alternative products, such as reusable EEG medical electrodes is expected to hamper the EEG disposable medical electrodes market growth over the forecast period. The benefits provided by EEG reusable medical electrodes, include low cost, more durable, flexible, and lightweight. For instance, Natus Medical Incorporated offers Genuine Grass Reusable Cup EEG Electrodes which are rigorously mechanically and electrically tested to assure long life for very high recording clarity and dependability. These reusable electrodes are compatible with steam and EtO sterilization. The cups of these electrodes are made up of gold or silver to reduce the chance of infection and cross contamination.

Global EEG Disposable Medical Electrodes Market- Key Players

• Major players operating in the global EEG Disposables Medical Electrodes Market include 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.

*Definition: Electroencephalography (EEG) is a device that detects electrical activity in the brain. Disposable EEG electrodes are used in the examination of the EEG. Disposable EEG electrodes are designed to provide an accurate reading of electrical impulses in the brain.