Intraoperative Monitoring Electrodes MarketSize and Trends

The global intraoperative monitoring electrodes market is estimated to be valued at US$ 576.5 million in 2023 and is expected to exhibit a CAGR of 7.1% during the forecast period (2023-2030).

Figure 1. Global Intraoperative Monitoring Electrodes Market Share (%), by Procedure, 2023

Figure 2. Global Intraoperative Monitoring Electrodes Market Value (US$ Million), by Region, 2023

Global Intraoperative Monitoring Electrodes Market Segmentation:

The global intraoperative monitoring electrodes market report is segmented into by Procedure, by Usability, by Type of Electrode and End User, and Region.

By Procedure, the market is segmented into Electrocardiography (ECG), Electroencephalography (EEG), Electromyography (EMG), and Others. Out of which, the Electrocardiography segment is expected to hold a dominant position in the intraoperative monitoring electrodes market during the forecast period and this is attributed to the increasing usage of intraoperative monitoring electrodes against cardiovascular diseases. For instance, in October 2022, Dozee, India’s first contactless remote patient monitoring (RPM) company, announced the launch of an ambulatory electrocardiogram (ECG) patch to monitor patients with cardiovascular disease (CVD). This ECG patch augments Dozee’s current artificial intelligence (AI)-powered RPM system to play a key role in assisting healthcare professionals (HCPs) in identifying early signs of cardiac deterioration.

By Usability, the market is segmented into Disposable Electrode and Reusable Electrode. Out of which, the disposable electrode segment is expected to hold a dominant position in the intraoperative monitoring electrodes market during the forecast period and this is attributed to new product launches. For instance, in October 2022, Nihon Kohden, a market leader in precision medical products and services, announced the launch of the Smart Cable NMT Pod and disposable electrode. The new device allows clinicians to objectively monitor the patient’s depth of paralysis during surgery when a neuromuscular blockade agent (NMBA), either non-depolarizing or depolarizing, is administered to the patient.

By Type of Electrode, the market is segmented into Wet Electrode, Dry Electrode, and Needle Electrode. Out of which, the dry electrode segment is expected to dominate the market over the forecast period and this is attributed to the innovation of new methods for manufacturing dry electrodes. For instance, in March 2022, according to the article published in Electrochemistry Communications, the study presents a new dry ECG electrode printed on a textile substrate. The proposed method, based on thermo-sealing, permits the ECG electrode to be easily attached to any garment, enabling cost-effective mass production.

By End User, the market is segmented into Hospital, Ambulatory Surgical Centers, and Specialty Centers. Out of which, the hospital segment is expected to dominate the market over the forecast period and this is attributed to the increasing number of hospital admissions over the forecast period. For instance, according to the data published by Parkinson’s organization, around 145,000 people live with a Parkinson's diagnosis in the U.K. in 2020. With population growth and ageing, this is likely to increase by a fifth, to around 172,000 people in the U.K., by 2030.

Market Trends: Among regions, North America is estimated to hold a dominant position in the global intraoperative monitoring electrodes market over the forecast period. North America is estimated to hold 36.2% of the market share. Increase in prevalence of Alzheimer’s disease in this region is expected to propel the growth of global intraoperative monitoring electrodes market. For instance, according to the report published by Alzheimer’s Association named '2021 ALZHEIMER'S DISEASE FACTS AND FIGURES' published in 2021, Alzheimer's dementia affects an estimated 6.2 million Americans aged 65 and above. Unless medical breakthroughs to prevent, delay, or cure Alzheimer's disease are developed, this figure may rise to 13.8 million by 2060.