Impact Analysis of Covid-19
The complete version of the Report will include the impact of the COVID-19, and anticipated change on the future outlook of the industry, by taking into the account the political, economic, social, and technological parameters.
Disposable EEG electrodes are specifically designed to provide quality recordings and reduce cross contamination while saving time and money compared to reusable EEG options. Disposable EEG electrodes offer useful, real-time EEG data during various mapping or monitoring procedures and are used to transfer energy of ionic currents into electrical current in the body. The currents passed into the body are amplified and used for diagnosis of various diseases. Technological advancement in the field of monitoring electrodes have resulted in high demand for EEG disposable medical electrodes. For instance, in January 2015, researchers at North Carolina State University introduced a new dry sensor to monitor Electrocardiography (ECG), Electroencephalograph (EEG), and Electromyography (EMG) all day long with high accuracy, even in situations when wet sensors are ineffective.
The EEG disposable medical electrodes market is estimated to be valued at US$ 655.17 million in 2020 and is expected to exhibit a CAGR of 4.0% during the forecast period (2020-2027).
Fig1. EEG Disposable Medical Electrodes Market Share (%) Analysis, in Terms of Value, By Product Type, 2020
The increasing prevalence of neurological disorders and product launches are expected to drive growth of the EEG disposable medical electrodes market
High incidence of neurological disorders such as epilepsy, Parkinson disease, Alzheimer’s and dementia, and cerebrovascular diseases is expected to boost growth of the global EEG (Electroencephalography) devices market over the forecast period. For instance, according to the World Health Organization (WHO) report of 2019, around 50 million people worldwide had epilepsy, making it one of the most common neurological diseases globally. Furthermore, According to the Society of Neuroscience, in 2015, epilepsy affected an estimated 10.5 million children worldwide, and the types and severity of the disorder varied significantly.
Moreover, products launches by market players is expected to accelerate the EEG disposable medical electrodes market growth in the near future. For instance, in April 2020, Nihon Kohden Corporation, a Japan-based manufacturer of precision medical products and services, announced the launch of a new Premium Disposable Gold Cup EEG Electrode. The disposable electroencephalogram (EEG) electrodes help healthcare workers prevent cross contamination between patients while maintaining high quality EEG signals. 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.
EEG Disposable Medical Electrodes Market - Restraints
However, growing use of alternative products such as reusable EEG medical electrodes is expected to hamper the EEG disposable medical electrodes market growth over the forecast period. For instance, the benefits provided by EEG reusable medical electrodes include low cost, more durable, flexible, and lightweight. 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.
EEG Disposable Medical Electrodes Market – Regional Analysis
North America accounted for the largest share in the EEG disposable medical electrodes market, in 2019 owing to increasing merger acquisitions between key players in the region. For instance, in June 2014, Medtronic Plc announced acquisition of Covidien Inc. for US$ 42.9 billion. With this acquisition, Medtronic gained a diversified product portfolio, and 87,000 employees in more than 150 countries.
Furthermore, increasing prevalence of neurological disorders is also expected to boost the growth of EEG disposable medical electrodes market in the region. According to the Alzheimer’s Association estimates in 2017, around 5 million Americans were diagnosed with Alzheimer’s disease and the number is expected to increase over 16 million by 2050. This creates a highly conducive environment for growth of EEG disposable medical electrodes market in North America, especially for neurological applications.
Fig2. EEG Disposable Medical Electrodes Market Value (US$ Mn) & Y-o-Y Growth (%), 2017-2027
EEG Disposable Medical Electrodes Market - Competitive Landscape
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, Rhythmlink International, Erbe Elektromedizin GmbH, KLS Martin Group, Screentec Oy, Nihon Kohden Corporation, Natus Medical Incorporated, and Koninklijke Philips N.V.