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The global Eeg Disposable Medical Electrodes Market is estimated to be valued at US$ 736.6 Mn or Mn 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 in electroencephalography (EEG) procedures to detect electrical activity in the brain and help in diagnosing epilepsy, sleep disorders, coma, and brain death. EEG disposable medical electrodes provide optimal conductivity, shielding against external interference, and patient comfort. The embedded wires enable signals to travel from the scalp to the EEG systems for analysis and recording. Dry disposable electrodes obviate the need for scrubbing, cleaning, or preparing the skin, thus eliminating procedural steps and saving preparation time.
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Market key trends:
One of the key trends in the EEG disposable medical electrodes market is the increasing preference for single-use disposable electrodes. Single-use electrodes prevent cross-contamination between patients and eliminate the need for sterilization between uses. They also offer consistency in conductivity during EEG recordings. With rising concern about hospital-acquired infections, regulatory requirements, and measures to curb infection transmission, single-use disposable electrodes are gaining widespread acceptability. Another major trend is technological advancements in electrode design. Market players are focusing on developing electrodes with enhanced signal quality, improved adhesion even on hairy or oily skin, and extended shelf life. Miniaturization of electrodes to reduce preparation and recording time is also gathering pace.
Porter’s Analysis
Threat of new entrants: The EEG disposable medical electrodes market has moderate threat of new entrants due to the presence of stringent regulations for product approval and established brand names of existing players.
Bargaining power of buyers: The bargaining power of buyers is high due to the availability of various EEG disposable medical electrodes brands in the market. Buyers can easily switch between brands based on price and quality.
Bargaining power of suppliers: The bargaining power of suppliers is moderate as the raw materials required are commodity chemicals easily available from multiple suppliers.
Threat of new substitutes: There exists low threat of substitutes as EEG disposable medical electrodes have applications that cannot be replaced by alternative products.
Competitive rivalry: The EEG disposable medical electrodes market witnesses high competitive rivalry due to the presence of numerous global and regional players competing in terms of product offering, pricing, and quality.
Key Takeaways
The global EEG disposable medical electrodes market is expected to witness high growth, exhibiting a CAGR of 4.4% over the forecast period, due to increasing incidence of neurological disorders.
The North America region dominates the EEG disposable medical electrodes market owing to the rising geriatric population and high awareness about neurodiagnostic procedures in the region. Europe also holds a significant share in the market.
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.
Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemical and materials, defense and aerospace, consumer goods, etc.
