Global Cardiology Electrodes Market, by Product Type (Resting ECG Electrodes, Short-term Monitoring ECG Electrodes, Long-term Monitoring ECG Electrodes, Stress Test ECG Electrodes, Neonatal ECG Electrodes and Pediatric ECG Electrodes), by Order Type (Sticky Gel Cardiology Electrodes, Wet Gel Cardiology Electrodes, Dry Cardiology Electrodes and Solid Gel Cardiology Electrodes), by Usability (Disposable Medical Electrodes and Reusable Medical Electrodes), by End User (Hospitals, Ambulatory Surgical Centers and Others), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) 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), as highlighted in a new report published by Coherent Market Insights.
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. In September 2021, B-Secur, manufacturer of EKG technology, launched an ECG (electrocardiogram) electrode/hardware and software development kit to assist technology companies in the creation of their ECG devices. For smaller manufacturers of consumer wearable devices, the ECG Development Kit will make it simple to integrate Heartkey technology, which has been approved by the U.S. Food and Drug Administration (FDA) in February 2021.
Global Cardiology Electrodes Market– Impact of Coronavirus (COVID-19) Pandemic
COVID-19 outbreak was first reported on December 31, 2019 in Wuhan, China. According to the Coronavirus (COVID-19) Weekly Epidemiological Update by the World Health Organization, over 615 million cases and 6.5 million deaths due to Coronavirus (COVID-19) were reported up till October 2, 2022 across the globe.
The COVID-19 pandemic has affected several markets across the globe however, it is expected to boost the growth of global cardiology electrodes market. For instance, according to an article published by the PubMed Central in December 2020, around 90% of critically ill COVID-19 positive patients suffer from at least one kind of ECG abnormality due to hypoxic injury, plaque rupture, myocardial injury, cytokine storm, and others. These abnormalities can be detected using cardiology electrodes, thus, COVID-19 pandemic is expected to have a positive impact on the growth of cardiology electrodes market.
Global Cardiology Electrodes Market: Key Developments
In March 2022, GE Healthcare and AliveCor, a medical device and Artificial Intelligence (AI) company producing ECG hardware and software for consumer mobile devices, announced a partnership to deliver medical-grade six-lead electrocardiograms (ECGs) in the U.S.
On May 17, 2022 Medtronic announced that they have incorporated a new wafer-scale manufacturing process, to develop cardiac monitor product that helps to detect various cardiac arrhythmias, including atrial fibrillation, by providing long-term monitoring for patients
Browse 27 Market Data Tables and 31 Figures spread through 156 Pages and in-depth TOC on “Global Cardiology Electrodes Market”- Forecast to 2030, Global Cardiology Electrodes Market, By Product Type (Resting ECG Electrodes, Short-term Monitoring ECG Electrodes, Long-term Monitoring ECG Electrodes, Stress Test ECG Electrodes, Neonatal ECG Electrodes and Pediatric ECG Electrodes), by Order Type (Sticky Gel Cardiology Electrodes, Wet Gel Cardiology Electrodes, Dry Cardiology Electrodes and Solid Gel Cardiology Electrodes), by Usability (Disposable Medical Electrodes and Reusable Medical Electrodes), by End User (Hospitals, Ambulatory Surgical Centers and Others), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa)
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https://www.coherentmarketinsights.com/market-insight/cardiology-electrodes-market-4618
Moreover, rapid research and development activities by market players has led to advancement of cardiology electrodes, this is expected to fuel the growth of global cardiology electrodes market over the forecast period. For instance, in February 2021, QT Medical Inc., a U.S. based medical device company developed a new electrode based ECG wherein the wire leads are completely eliminated to reduce contact transmission during COVID-19 pandemic.
Key Takeaways of the Global Cardiology Electrodes Market:
- The global cardiology electrodes market is expected to exhibit a CAGR of 5.3% during the forecast period due to the increasing adoption of strategies such as collaborations, in order to strengthen their position in the market. For instance, in July 2021, B-Secur, a medical technology company, in collaboration with Texas Instruments (TI), a semiconductor company, announced the launch of an electrocardiogram (EKG/ECG) solution based on Texas Instruments (TI) AFE4950 analogue front end (AFE) for photoplethysmography (PPG) and EKG/ECG sensing, which will help speed up the development of next-generation consumer wearable.
- Among product type, Stress test ECG Electrodes segment is estimated to hold a dominant position in the global cardiology electrodes market over the forecast period, owing to the increasing prevalence of atrial fibrillation. For instance, according to the data published by the European Society of Cardiology in 2019, the study estimated that 7.6 million people aged over 65 in the Europe has atrial fibrillation in 2016 and this would increase by 89% to 14.4 million by 2060
- Among regions, North America is estimated to account for the largest market share in the global cardiology electrodes market over the forecast period, owing to increasing prevalence of cardiovascular diseases in the U.S. According to the American Heart Association, Inc, at least 48% of all adults in the U.S. have some form of cardiovascular disease. Much of the prevalence is driven by an increase in the number of people classified as having high blood pressure, following the 2017 guidelines that redefined hypertension levels to 130/80 mm Hg
- Major players operating in the global cardiology electrodes market include Leonhard Lang, Nissha Medical Technologies, Conmed Corporation, Koninklijke Philips N.V., GE Healthcare (General Electric Company), Medtronic plc, BPL Medical Technologies, FARUM sp. z o.o., COM., Promed Technology Co., Ltd., 3M, VectraCor, Medico Electrodes International Ltd., Ambu A/S., and Cardinal Health
