Global EEG Disposable Medical Electrodes Market, By Product Type (Needle Electrodes, Patch Electrodes, Cup Electrodes, Disk Electrodes and Others), By Application (Diagnostic, Therapeutic, Others), By End User (Hospitals and Clinics, Diagnostic Centers, Ambulatory Surgical Centers), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) is estimated to be valued at US$ 736.6 Billion in 2023 and is expected to exhibit a CAGR of 4.4% during the forecast period (2023-2030), as highlighted in a new report published by Coherent Market Insights.
The key market players are focused on gaining product approval from the U.S. FDA (Food and Drug Administration), which in turn is expected to drive the growth of the market over the forecast period. For instance, on February 23, 2021, Rhythmlink International, LLC, a medical equipment manufacturer company, announced that the U.S. Food and Drug Administration (FDA) has approved the company's Sticky pad surface electrodes, a line of peel and stick-on electrodes for Intraoperative Neurophysiological Monitoring (IONM) and Electroencephalography (EEG) are U.S. FDA (Food and Drug Administration) approved MR (Magnetic Resonance) Conditional for 1.5 and 3 Tesla MRI (Magnetic Resonance Imaging) environments.
Global EEG Disposable Medical Electrodes Market– Impact of Coronavirus (COVID-19) Pandemic
The World Health Organization (WHO) designated the illness caused by the Severe Acute Respiratory Syndrome Coronavirus 2 (SARS-CoV-2), which first appeared in Wuhan (province of Hubei, China) in the last months of 2019 as "coronavirus disease 2019" or COVID-19. This virus spread quickly and had a serious negative impact on the economies, social behaviors, and healthcare of every country in the world.
COVID-19 affected the economy in three main ways: by directly affecting production and demand, by creating disruptions in distribution channels, and through its financial impact on firms and financial markets. Due to the lockdown, several countries such as India, China, Brazil, and others faced problems with regard to the transportation of drugs from one place to another.
COVID-19 had a negative impact on the global EEG disposable medical electrode market, due to the lockdown imposed in the majority of the nations, several countries, such as China, India, Germany, France, Saudi Arabia, UAE, Egypt, and others faced problems with regard to the transportation of products and raw materials from one place to another, which limited the market growth during the pandemic. Quarantine, traveling constraints, and social distancing measures led to a steep decline in business and consumer spending
Furthermore, healthcare providers were facing challenges in terms of additional manpower, equipment, consumables, and other resources, which were required to ensure safety in hospitals and provide treatment to patients with other diseases. This has impacted the overall healthcare market negatively.
Additionally, there were delays in hospitalization and surgical procedures as the number of patient visits decreased, which is expected to affect the global EEG disposable medical electrode market over the forecast period.
Global EEG Disposable Medical Electrodes Market: Key Developments
Increasing product approval from the U.S., FDA (Food and Drug Administration), for the devices used for the diagnosis of the neurodegenerative disorder is helping the physicians to diagnoise the neurological disorder at faster rate. For instance, in March 2021, the U.S. Food and Drug Administration, announced that it has approved next-generation NeuroCap electroencephalogram (EEG) headset device. The NeuroCap is a pre-gelled disposable EEG headset with 22 electrodes and 19 active EEG channels that can be used for recording EEGs in neurology clinics, urban, and rural emergency departments, intensive care units (ICUs), urgent care clinics, nursing homes, and a variety of other settings.
Furthermore, the key market players are focused on adopting various growth strategies such as agreements and others to expand its product portfolio and strengthen its geographical presence. For instance, in November 2020, OrbusNeich, a medical device company, and P+F, a medical device manufacturing company, announced that they had agreed to the exclusive distribution and manufacturing of a range of innovative minimally neurosurgical and diagnostic products in the Asia Pacific region, including China, Japan, Taiwan, South Korea, Hong Kong, Singapore, Malaysia, Australia, and New Zealand. This partnership will further help OrbusNeich in the expansion of its product portfolio and strengthen its geographical presence in the Asia Pacific region
Browse 32 Market Data Tables and 29 Figures spread through 174 Pages and in-depth TOC on “Global EEG Disposable Medical Electrodes Market ”, By Product Type (Needle Electrodes, Patch Electrodes, Cup Electrodes, Disk Electrodes and Others), By Application (Diagnostic, Therapeutic, Others) By End User (Hospitals and Clinics, Diagnostic Centers, Ambulatory Surgical Centers), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa)
To know the latest trends and insights prevalent in this market, click the link below:
https://www.coherentmarketinsights.com/market-insight/eeg-disposable-medical-electrodes-market-3821
Key Takeaways of the Global EEG Disposable Medical Electrodes Market :
- The global EEG disposable medical electrode market is expected to exhibit a CAGR of 4.4% during the forecast period as major players in the market are also focused on receiving the approval from the regulatory authorities. For instance, in October 2021, Brain Scientific Inc., a commercial stage healthcare company, announced that U.S. Food and Drug Administration (FDA) 510(k) clearance for its next-gen NeuroCap device, an advanced electroencephalogram (EEG) electrode array to obtain rapid EEGs in routine clinical and research settings.
- Among regions, North America is expected to be the dominant region in the global EEG disposable medical electrode market, owing to the increasing research & development activities by the market players. For instance, in May 2022, U.S. Department of Veterans Affairs, research & development agency of the Veterans Health Administration, based in U.S. initiated the research to study the performance of the standard EEG electrode vs dry electrode EEG in the diagnosis of the brain activity throw the capture of electric activation.
- Major players operating in the global EEG disposable medical electrode 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.
