Cardiology Electrodes Market to Surpass US$ 193.2 Million by 2030, Says Coherent Market Insights (CMI)
Electrifying Growth: The Thriving Market of Cardiology Electrodes for Enhanced Heart Care
Burlingame, March 03, 2023 (GLOBE NEWSWIRE) — According to Coherent Market Insights, the global cardiology electrodes market is estimated to be valued at US$ 127.9 million in 2022 and is expected to exhibit a CAGR of 5.3% during the forecast period (2022-2030).
Key Trends and Analysis of the Global Cardiology Electrodes Market:
Major players are engaged in inorganic strategies such as partnership, this is expected to increase the growth of the market over the forecast period. For instance, on June 18, 2022, BPL Medical Technologies announced partnership with AyuRythm, a company that provides lifestyle recommendations based on ancient and proven Ayurveda principle of Kapha (Strength), Pitta (Metabolism), Vata (Stress), to provide users a holistic wellness solution and to provide personalized Ayurvedic wellness solutions.
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Cardiology Electrodes Market Report Coverage
| Report Coverage | Details | |||
| Base Year: | 2021 | Market Size in 2022: | US$ 127.9 Mn | |
| Historical Data for: | 2017 to 2020 | Forecast Period: | 2022 to 2030 | |
| Forecast Period 2022 to 2030 CAGR: | 5.3% | 2030 Value Projection: | US$ 193.2 Mn | |
| Geographies covered: |
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| Segments covered: |
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| Companies covered: | 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., INTCOMEDICAL.COM., Promed Technology Co., Ltd., 3M, VectraCor, Medico Electrodes International Ltd., Ambu A/S., and Cardinal Health | |||
| Growth Drivers: |
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| Restraints & Challenges: |
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Key Market Takeaways:
The global cardiology electrodes market is expected to exhibit a CAGR of 5.3% during the forecast period due to increasing prevalence of cardiovascular diseases in the U.S. For instance, according to the American Heart Association, 2019, approximately 121.5 million U.S. adults have some form of cardiovascular disease. Moreover, by the year 2035, according to the same source, it is estimated that more than 130 million U.S. adults will have some type of heart disease
Among usability type, Disposable medical electrodes segment is expected to hold a dominant position over the forecast period, owing to increasing product launches by the key players. For instance, in December 2018, Nissha Co., Ltd., a Japan-based medical device company, launched its new product line called Vermed Claravue electrodes. These cardiology electrodes are prewired disposable ECG electrodes which can be used in medical applications such as cardiology.
On the basis of end user, hospital segment is expected to hold a dominant position over the forecast period, owing to growing healthcare expenditure by the government. For instance, according to the U.S. Centers for Medicare and Medicaid Services 2021 findings on the National Health Expenditure (NHE), in the U.S., the hospital expenditure grew by 6.4% to US$ 1,270.1 billion in 2020 compared to hospital expenditure in 2019. Additionally, prescription drug spending increased by 3.0% to US$ 348.4 billion in 2020.
Competitive Landscape:
Key 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., INTCOMEDICAL.COM., Promed Technology Co., Ltd., 3M, VectraCor, Medico Electrodes International Ltd., Ambu A/S., and Cardinal Health
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Market Segmentation:
- 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
- Pediatric ECG Electrodes
- Global Cardiology Electrodes Market, By Order Type:
- Sticky Gel Cardiology Electrodes
- Wet Gel Cardiology Electrodes
- Dry Cardiology Electrodes
- Solid Gel Cardiology Electrodes
- Global Cardiology Electrodes Market, By Usability:
- Disposable Medical Electrodes
- Reusable Medical Electrodes
- Global Cardiology Electrodes Market, By End User:
- Hospitals
- Ambulatory Surgical Centers
- Others
- Global Cardiology Electrodes Market, By Region:
- North America
- By Country
- U.S.
- Canada
- By Country
- Latin America
- By Country
- Brazil
- Mexico
- Argentina
- Rest of Latin America
- By Country
- Europe
- By Country
- Germany
- U.K.
- France
- Italy
- Spain
- Russia
- Rest of Europe
- By Country
- Asia Pacific
- By Country
- China
- India
- Japan
- Australia
- South Korea
- ASEAN
- Rest of Asia Pacific
- By Country
- Middle East
- By Country
- GCC
- Israel
- Rest of Middle East
- By Country
- Africa
- By Region/Country
- South Africa
- Central Africa
- North Africa
- By Region/Country
- North America
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About Us:
Coherent Market Insights is a global market intelligence and consulting organization focused on assisting our plethora of clients achieve transformational growth by helping them make critical business decisions. We are headquartered in India, having sales office at global financial capital in the U.S. and sales consultants in United Kingdom and Japan. Our client base includes players from across various business verticals in over 57 countries worldwide. We create value for clients through our highly reliable and accurate reports. We are also committed in playing a leading role in offering insights in various sectors post-COVID-19 and continue to deliver measurable, sustainable results for our clients.
CONTACT: Mr. Shah Senior Client Partner – Business Development Coherent Market Insights Phone: US: +1-206-701-6702 UK: +44-020-8133-4027 Japan: +81-050-5539-1737 India: +91-848-285-0837 Email: [email protected] Website: https://www.coherentmarketinsights.com
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