A newly released Disposable EEG Electrode Market analysis report by Future Market Insights shows that global sales of the Disposable EEG Electrode Market in 2022 were held at USD 782 million. With a CAGR of 4.3% from 2023 to 2033, the market is projected to reach a valuation of USD 1.2 billion by 2033. Needle Electrodes are expected to be the highest revenue-generating segment, projected to grow at a CAGR of over 4.5% from 2023 to 2033.
| Attribute | Details |
|---|---|
| Global Disposable EEG Electrode Market (2023) | USD 816.5 million |
| Global Disposable EEG Electrode Market (2033) | USD 1.2 billion |
| Global Disposable EEG Electrode Market CAGR (2023 to 2033) | 4.3% |
| USA Disposable EEG Electrode Market CAGR (2023 to 2033) | 4.2% |
| Key Companies Profiled | Medtronic PLC; Ambu A/S; CONMED Corporation; BIOPAC Systems Inc.; Brain Scientific, Inc.; Natus Medical Incorporated |
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As per the Disposable EEG Electrode Market research by Future Market Insights - a market research and competitive intelligence provider, historically, from 2018 to 2022, the value of the Disposable EEG Electrode Market increased at around 4.3% CAGR.
EEG is the recording of electrical signals with the purpose of detecting anomalies in brain electrical activity. EEG is a painless process in which electrical impulses are recorded using 16-20 electrodes affixed to the patient's scalp.
An electrode is a conductor that allows an electric current to travel safely through it. Specially qualified healthcare workers monitor and interpret the EEG meter.
Disposable EEG electrodes are intended to provide precise measurements of electrical impulses in the brain. Furthermore, as compared to reusable EEG electrodes, disposable EEG electrodes limit the chance of cross-contamination and save time. Because of improved hygiene measures, disposable EEG electrodes are favored over reused EEG electrodes in COVID-19.
The rising prevalence of neurological illnesses is one of the primary trends driving the growth of the EEG electrodes market. The rising prevalence of these neurological diseases is increasing the demand for brain monitoring equipment such as EEG electrodes, which are commonly used in the diagnosis of such illnesses. Furthermore, the growing popularity of hybrid brain-computer interface approaches is propelling the EEG electrodes market forward.
EEG also aids in the diagnosis of epilepsy and other brain illnesses such as tumors, stroke, brain tissue degeneration, infections, metabolic and hormonal problems that influence brain tissue, and some central nervous system disorders.
When opposed to reusable EEG electrodes, disposable EEG electrodes are especially intended to deliver quality recordings and avoid cross-contamination which saves time as well as money. They provide meaningful, real-time EEG data in different monitoring or mapping processes. They are also used to convert ionic current energy into electrical current in the body. EEG is also used to assess sleep problems, monitor blood flow following brain surgery, and identify brain death. In operating rooms, ambulatory units, and critical care units, EEG meters are employed.
The rising prevalence of neurological illnesses, as well as technological improvement, are two main drivers driving the market. The need for disposable EEG electrodes is increasing as a result of technical improvements, an increase in the number of HAI cases, and the global incidence of neurological illnesses.
Disposable EEG electrodes help to prevent a patient from catching bacterial and other microbial illnesses. In lieu of these factors, the EEG electrodes market is expected to witness positive growth.
Parkinson's disease and epilepsy are some of the major prevailing neurological illnesses, which are driving the disposable EEG electrode market. Apart from them, dystonia and essential tremor also drive the market growth.
High death rates and illness burdens drive strong demand for magnetic brain stimulators, which are remedies that can be used for a longer period. Moreover, increased public awareness about neurological conditions has raised disposable EEG electrode market demand as a viable treatment.
Some of the factors driving the market growth for EEG electrodes are an increase in hospital-acquired infections, a swell in the geriatric population, and an increase in hygienic practices.
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In 2022, North America held the largest share of the global Disposable EEG Electrode Market. North America has the largest market for electroencephalogram meters, followed by Europe, due to technical progress, rising prevalence of brain illnesses, growth in healthcare spending, innovation in digitalized equipment, and the developed healthcare sector.
Furthermore, rising merger acquisitions among major competitors in the area, as well as an increase in the frequency of neurological illnesses, are likely to drive the expansion of the region's EEG disposable medical electrodes market.
Asia is likely to witness rapid expansion in the electroencephalogram (EEG) meter market in the forthcoming years as a result of the region's improving healthcare infrastructure and rising disposable income and increased awareness of neurological diseases.
The market in the USA is expected to reach USD 486 billion by 2032, growing at a CAGR of 4.2% from 2023 to 2033. The market is expected to register an absolute dollar opportunity of USD 163 million during the forecast period. The growing incidence of AIS is most likely to propel the market growth since disposable EEG electrodes can be used to identify strokes in the early stages.
The market in the United Kingdom is expected to reach a valuation of USD 653 million by 2033, growing at a CAGR of 4.9% from 2023 to 2033. The market is projected to gross an absolute dollar opportunity of USD 422 million during the forecast period.
In Japan, the market is expected to reach a valuation of USD 47 million by 2033. During the forecast period, the market in the country is expected to garner an absolute dollar opportunity of USD 18 million, growing at a CAGR of 4.8%.
The market in South Korea is projected to grow at a CAGR of 4.9% from 2023 to 2033. During this period, the market is projected to witness an absolute dollar opportunity of USD 9.4 million and reach USD 25 million by 2033.
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The needle electrode segment commanded the largest revenue as well as a CAGR of nearly 5.4%, from 2018 to 2022. Direct cortical recordings require the use of EEG electrodes. Another factor driving the market is the rise in neurological illnesses.
The therapeutic application of EEG Electrode is expected to command the largest revenue as well as a CAGR of nearly 4.2%, during the forecast period. The key driver for the Therapeutic application is the large pool of the aged population and the constant rise in their number. Emerging economies with a large population of senior citizens and increasing disposable incomes will provide a boost to this segment throughout the forecast period.
The hospital segment commanded the largest revenue share during the forecast period. This growth is because of the rise in the number of surgical procedures worldwide, as well as neurological disorders requiring disposable EEG electrodes. The availability of technologically advanced EEG devices and long-term contracts of hospitals with suppliers, which increases the supplier's negotiating power and creates a market for after-sales service, will drive the market for this segment.
To maintain their competitiveness in the market, key players in this market are working to obtain regulatory approvals for their products. Key firms are also extensively spending on research and development.
Some of the key players operating in the market include Medtronic PLC, Ambu A/S, CONMED Corporation, BIOPAC Systems Inc., Brain Scientific, Inc., and Natus Medical Incorporated.
Some of the recent developments of key Disposable EEG Electrode providers are as follows:
Similarly, recent developments related to companies’ Disposable EEG Electrode services have been tracked by the team at Future Market Insights, which are available in the full report.
The Disposable EEG Electrode market is valued at USD 816.5 million in 2023.
The Disposable EEG Electrode market’s CAGR from 2023 to 2033 will be 4.3%.
The Disposable EEG Electrode market is anticipated to hit USD 1.2 billion by 2023.
Medtronic PLC, Ambu A/S and CONMED Corporation are key Disposable EEG Electrode market players.
The United States is likely to surge at a CAGR of 4.2% through 2023.
1. Executive Summary | Disposable EEG Electrode Market 2. Market Overview 3. Market Background 4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033 5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Product Type 5.1. Needle electrodes 5.2. Patch electrodes 5.3. Cup electrodes 5.4. Disk electrodes 5.5. Other Product types 6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Application 6.1. Diagnostic 6.2. Therapeutic 7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By End Use 7.1. Hospitals 7.2. Clinics 7.3. Other end uses 8. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region 8.1. North America 8.2. Latin America 8.3. Europe 8.4. East Asia 8.5. South Asia 8.6. Oceania 8.7. Middle East and Africa (MEA) 9. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 10. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 11. Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 12. East Asia Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 13. South Asia Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 14. Oceania Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 15. Middle East and Africa (MEA) Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 16. Key Countries Market Analysis 17. Market Structure Analysis 18. Competition Analysis 18.1. Medtronic PLC 18.2. Ambu A/S 18.3. CONMED Corporation 18.4. BIOPAC Systems Inc. 18.5. Brain Scientific, Inc. 18.6. Natus Medical Incorporated 19. Assumptions & Acronyms Used 20. Research Methodology
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Disposable EEG Electrode Market
