CARDIOLOGY ELECTRODES MARKET ANALYSIS

Cardiology Electrodes MarketSize and Trends

Global cardiology electrodes market is estimated to be valued at US$ 127.93 million in 2022 and is expected to exhibit a CAGR of 5.3% during the forecast period (2022-2030).

Figure 1. Global Cardiology Electrodes Market Share (%), by Usability, 2022

Global Cardiology Electrodes Market- Drivers

Market players are indulged in developing new cardiology electrodes and this is expected to drive the growth of the global cardiology electrodes market, over the forecast period. For instance, in May 2022, Pulse Technologies Inc., a leading manufacturer of innovative technology, announced that its proprietary Hierarchical Surface Restructuring (HSR) technology is being used in Cardionomic's Cardiac Pulmonary Nerve Stimulation (CPNS) System to treat patients with Acute Decompensated Heart Failure (ADHF). Cardionomic, Inc. is a privately held U.S.-based company that develops and manufactures heart failure products.

Due to the increasing aging population, the demand for healthcare products and services increased multiple times in the past decade, particularly in the developed and high-economic growth countries. The growing prevalence of cardiovascular diseases plays an essential role in the growth of the global cardiology electrodes market. For instance, according to the Centers for Disease Control and Prevention (CDC), July 2022, heart disease is the leading cause of mortality in the U.S. for men, women, and people of all races and ethnicities. In 2020, over 697,000 people in the U.S. died from heart disease, accounting for one out of every five deaths. The leading cause of death from heart disease in 2020 was coronary heart disease (CAD), which claimed 382,820 lives. CAD affects 7.2% of the population of 20.1 million persons aged 20 and older.

Global Cardiology Electrodes Market- Trends

Global Cardiology Electrodes Market – Impact of Coronavirus (COVID-19) Pandemic

The COVID-19 pandemic and lockdown in various countries across the globe have impacted the financial status of businesses across all sectors. The COVID-19 pandemic has impacted the entire supply chain of the healthcare industry mainly due to strict lockdown in several regions. However, the demand for cardiology electrodes is expected to increase in this COVID-19 pandemic owing to the need for diagnostic tools such as ECG electrodes for diagnosis and management of heart disease in COVID-19 patients.

For instance, according to an article published by NCBI (National Center for Biotechnology Information) in March 2021, COVID-19 may lead to cardiac events such as myocarditis, arrhythmia, acute coronary syndrome, and others. SARS-CoV-2, the causative agent of COVID-19 infection is involved in inducing plaque rupture in blood vessels which leads to acute coronary syndrome and ischemia. The same study also reveals that pre-existing heart conditions become more severe due to COVID-19 infection. Thus, cardiology electrodes become a critical diagnostic tool to be used for checking the health of the heart in COVID-19 positive patients and help prevent fatalities. This is expected to fuel the growth of the global cardiology electrodes market during the pandemic.