Medical Electrodes Market: Competitive Strategy, Benchmarking And Demand Trend Analysis
Summary
- In 2019, Medtronic (Ireland) entered into a distribution agreement with Alpha Omega (Israel). This agreement aimed to market Medtronic’s surgical navigation products designed for procedures in the brain.
- In 2020, Natus Medical, Inc. (US) entered into a partnership with Holberg EEG AS (Norway). This partnership aims to improve and automate the diagnosis of epilepsy by developing and distributing.
The global medical electrode market is projected to reach USD 2.1 billion by 2026 from USD 1.7 billion in 2021, at a CAGR of 4.3% during the forecast period. Growth in the medical electrodes market is primarily driven by the rising incidence of neurological & cardiovascular disorders, increasing investments in research for medical devices, and growing preference for home & ambulatory care services. Emerging markets in Asian countries are expected to offer strong growth opportunities for players in the market.
Competitive Landscape :
The competitive landscape includes the analysis of the key growth strategies adopted by major players to expand their global presence and increase their market shares in the radiotherapy market. The key growth strategies adopted by the top players in the market include product launches and approvals, agreements, expansions, and acquisitions. Product approvals and launches were the most widely adopted growth strategies by market players in the last three years to garner a larger share of the market.
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Medical Electrodes Market (MarketsandMarkets)
Growth opportunities in emerging economies
Emerging economies such as BRIC (Brazil, Russia, India, and China) and countries in Latin America and Southeast Asia are expected to provide significant growth opportunities to players operating in the medical electrodes market. This can primarily be attributed to the low competition in these markets, large population, a growing number of cardiovascular and neurological diseases, and rising disposable income.
Key Players:
- Cardinal Health (US),
- Zoll Medical Corporation (US),
- 3M (US),
- Medtronic (Ireland),
- Ambu A/S (Denmark)
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