Alarming rise in the prevalence of neurological disorders, and technological advancement in the healthcare sector drive the growth of the global disposable EEG electrode market.
PORTLAND, Ore., Feb. 3, 2023 /PRNewswire/ -- Allied Market Research published a report, titled, "Disposable EEG Electrode Market by Shape (Cup Electrode, Disk Electrode, and Needle Electrode), by Application (Diagnostic, and Therapeutic), by End User (Hospitals and Clinics, Diagnostic Centers, Ambulatory Surgical Centers, and Others): Global Opportunity Analysis and Industry Forecast, 2021-2031." According to the report, the global disposable EEG electrode industry generated $386.3 Million in 2021, and is estimated to reach $542.2 Million by 2031, witnessing a CAGR of 3.5% from 2022 to 2031. The report offers a detailed analysis of changing market trends, top segments, key investment pockets, value chains, regional landscapes, and competitive scenarios.
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Drivers, Restraints, and Opportunities-
Improving healthcare infrastructure, rise in the number of neurological diseases and various strategies adopted such as product launch and product approval drive the growth of the global disposable EEG electrode market. On the other hand, rising use of alternatives, such as reusable EEG medical electrodes restrain the growth to some extent. However, increase in initiatives taken by government and rise in expenditure by government to develop healthcare infrastructure are expected to create lucrative opportunities in the industry.
Covid-19 scenario-
- Use of disposable medical equipment has been increased during the pandemic for the prevention of COVID-19 infection. Thus, this factor is anticipated to have positive impact on the growth of disposable EEG electrode.
- In addition, increase in the prevalence of hospital acquired infection and rise in the awareness regarding prevention of cross contamination in hospitals, clinics, and diagnostic centers is anticipated to drive the growth of market.
The hospitals and clinics segment to maintain its dominance during the forecast period-
By end user, the hospitals and clinics segment held the largest share in 2021, garnering nearly three-fourths of the global disposable EEG electrode market revenue, and is projected to maintain its dominance by 2031. The same segment would also showcase the fastest CAGR of 3.7% during the forecast period. This is driven by rise in the number hospitals & clinics and rise in number of professionals who can treat neurological diseases.
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The diagnostic segment to rule the roost-
By application, the diagnostic segment contributed to more than two-thirds of the global disposable EEG electrode market share in 2021, and is projected to rule the boost by 2031. The same segment would also display the fastest CAGR of 3.6% throughout the forecast period. Increase in the prevalence of brain disorders, sleep disorders are anticipated to drive the application of disposable EEG electrodes for diagnosis purpose and fuel the segment growth.
North America garnered the major share in 2021-
By region, North America held the major share in 2021, garnering more than three-fifths of the global disposable EEG electrode market revenue, and is expected to dominate by 2031. This is due to the rise in the number of product launch and product approval, increase in the number of key players, and developed healthcare infrastructure across North America. Asia-Pacific, on the other hand, would showcase the fastest CAGR of 4.4% from 2022 to 2031.
Leading Market Players-
- CONMED CORPORATION
- KONINKLIJKE PHILIPS N.V.
- NATUS MEDICAL INCORPORATED
- GENERAL ELECTRIC COMPANY
- NIHON KOHDEN CORPORATION
- MEDTRONIC PLC
- AMBU A/S
- BRAIN SCIENTIFIC, INC
- RHYTHMLINK INTERNATIONAL, LLC
- CADWELL INDUSTRIES, INC
The report analyzes these key players in the global Disposable EEG Electrode market. These players have adopted various strategies such as merger, new product launches, and product approval to increase their market penetration and strengthen their position in the industry. The report is helpful in determining the business performance, operating segments, developments, and product portfolios of every market player.
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