This market research report presents a detailed segmentation of the global cardiology electrodes market by application (stress test ECG, neonatal ECG, long-term monitoring ECG, resting ECG, and short-term monitoring EGG) and by geography (Americas, APAC, and EMEA). The leading vendors in this market are 3M, Ambu A/S, ConMed, Leonhard Lang, and Medtronic.
Technavio’s market research analysts estimate the global cardiology electrodes market, to grow at a CAGR of around 3% between 2016 and 2020. Increase in the prevalence of cardiovascular diseases worldwide have boosted the demand for associated diagnostics, where cardiology electrodes play a vital role. These electrodes are particularly used for long-term ECG monitoring, neonatal ECG monitoring, and stress test ECG monitoring. The America leads the global market for cardiology electrodes, occupying around 41% of eth total market share. The high incidence of cardiovascular disease in the US coupled with a rise in the geriatric population is expected to foster market growth during the estimated period.
The new market research report from Technavio provides a breakdown and analysis of the cardiology electrodes segments by technology.
“Of late, the market is witnessing extensive use of dry electrodes. Most diagnostic devices used today use wet gel electrodes to record data. Gel usually starts drying after being applied on the skin, causing irritation and a degraded signal. To compensate for this, vendors are developing dry electrodes which use flexible polymers and other materials which result in better quality signal output. Increased preference for dry electrode usage will propel growth in the global market for cardiology electrodes during the forecast period,” says Barath Palada, Lead Analyst, Healthcare & Lifesciences, Technavio Research
The stress test ECG segment dominates the cardiology electrodes market and is expected to generate revenues of over USD 132 million by the end of 2020. This test is used by physicians to diagnose a patient’s heart function under physically stressful conditions. The physicians attach the electrodes to the skin of an individual’s chest and arms and connect them to an ECG device for recording the heart’s electrical activity. The electrodes record data while the individual is running on a treadmill of a particular design.
Global cardiology electrodes market segmentation by application
Source: Technavio, 2016
The leading vendors in the global cardiology electrodes market include 3M, Ambu A/S, ConMed, Leonhard Lang, and Medtronic. This market is highly consolidated with the presence of just a few companies. Large vendors are implementing strategies like competitive pricing to increase market share. They are also working on offering products which are better for patient comfort.
A more detailed analysis is available in the Technavio report, Global Cardiology Electrodes Market 2016-2020.
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