According to a new report published by UnivDatos Markets Insights, the Cardiology Electrodes Market was valued at USD 8 billion in 2020 and is expected to grow at a CAGR of around 5% from 2022-2028. The analysis has been segmented into Application (Stress Test ECG, Neonatal ECG, Long-Term Monitoring ECG, Resting ECG, and Short-Term Monitoring ECG); Usability (Disposable Medical Electrodes and Reusable Medical Electrodes); Region/Country.
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The Cardiology Electrodes market report has been aggregated by collecting informative data on various dynamics such as market drivers, restraints, and opportunities. This innovative report makes use of several analyses to get a closer outlook on the Cardiology Electrodes market. The Cardiology Electrodes market report offers a detailed analysis of the latest industry developments and trending factors in the market that are influencing the market growth. Furthermore, this statistical market research repository examines and estimates the Cardiology Electrodes market at the global and regional levels.
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Market Overview
The cardiology electrodes are the small devices that are used to collect the electrical signals sent by the heart and sent them to the electrocardiogram that analyze them and provides the ECG. The rising awareness among the people regarding the severity of cardiovascular diseases along with the rising investment in healthcare by the government and private institutions are the main reasons for the market growth of cardiology electrodes. Furthermore, the rising number of cases of cardiac strokes is also an important factor contributing to the market growth of cardiology electrodes. For instance, about 697,000 people in the United States died from heart disease in 2020—that’s 1 in every 5 deaths.
The rising cardiovascular diseases is expected to drive the global cardiology electrodes market at a CAGR of 10%, during the forecast period. Major companies in the market that offer hyper-scale data center are 3M, VectraCor Inc., ADInstruments Pty Ltd., Medico Electrodes International Ltd., Ambu A/S, Asahi Kasei Corporation.
COVID-19 Impact
COVID-19 has a staggering effect and has a negative impact on the global economy due to imposed lockdowns and government restrictions. However, the market for cardiology electrodes wasn’t affected by the pandemic due to the increasing number of cases of cardiovascular disorders. Furthermore, the increasing stress and anxiety levels also escalated the demand for cardiology electrodes.
The global cardiology electrodes market report is studied thoroughly with several aspects that would help stakeholders in making their decisions more curated.
· Based on the application, the market has been categorized into stress test ECG, neonatal ECG, long-term monitoring ECG, resting ECG, and short-term monitoring ECG. Among them, the neonatal category is expected to witness significant growth in the market during the forecast period. The rising number of preterm births is one of the main reasons for the growth of the neonatal ECG segment in the cardiology electrodes market. For instance, as per the WHO, an estimated 15 million babies are born too early every year. which is more than 1 in 10 babies. Approximately 1 million children die each year due to complications of preterm birth.
· Based on usability, the market has been categorized into disposable medical electrodes and reusable medical electrodes. Among them, the disposable category is expected to witness significant growth in the market during the forecast period. These electrodes are available with the snap-connect lead wires which makes the diagnosis easier. Furthermore, the high stability and sensitivity of the electrodes to the electrical signals due to the presence of the gel in them is also an important reason for the growth of the disposable electrode segment.
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Cardiology Electrodes Market Geographical Segmentation Includes:
· North America (United States, Canada, and the Rest of North America)
· Europe (Germany, United Kingdom, France, Italy, and the Rest of Europe)
· Asia-Pacific (China, Japan, India, South Korea, and the Rest of Asia-Pacific)
· Rest of the World
North America leads the market in 2021. This is mainly due to the rising popularity of camping among the millennials, as camping is proven to have an impact on reducing stress and contributes to emotional and physical health. Furthermore, as per the North American Camping Report by KOA, Millennials and Gen Xers make up three-quarters of all campers, with Millennials alone accounting for 40%.
The major players targeting the market include
· 3M
· VectraCor Inc.
· ADInstruments Pty Ltd.
· Medico Electrodes International Ltd.
· Ambu A/S
· Asahi Kasei Corporation
· Cardinal Health
· Nikomed USA Inc.
· CONMED Corporation
· Leonhard Lang USA Inc
Competitive Landscape
The degree of competition among prominent global companies has been elaborated by analyzing several leading key players operating worldwide. The specialist team of research analysts sheds light on various traits such as global market competition, market share, most recent industry advancements, innovative product launches, partnerships, mergers, or acquisitions by leading companies in the Cardiology Electrodes Market. The major players have been analyzed by using research methodologies for getting insight views on global competition.
Key questions resolved through this analytical market research report include:
• What are the latest trends, new patterns, and technological advancements in the Cardiology Electrodes market?
• Which factors are influencing the Cardiology Electrodes market over the forecast period?
• What are the global challenges, threats, and risks in the Cardiology Electrodes market?
• Which factors are propelling and restraining the Cardiology Electrodes market?
• What are the demanding global regions of the Cardiology Electrodes market?
• What will be the global market size in the upcoming years?
• What are the crucial market acquisition strategies and policies applied by global companies?
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