Therapeutic Electrodes Market - Forecast(2024 - 2030)

Report Code: HCR 87845 Report Format: PDF + Excel

Therapeutic Electrodes Market Overview

The Therapeutic Electrodes Market size was estimated at $308 million in 2020, projected to grow at a CAGR of 6.2% during the forecast period 2021-2026. An electrode is a conductor through which electrical currents can flow. These electrode are used for Electrode therapy, or electrotherapy as it is more widely called, is just what it sounds like; the use of electric energy to imitate the nerve impulses that cause muscles to contract. To function those muscles, electrodes are connected to the skin around the affected region. The therapeutic electrodes are either used to help an organ work properly or as a pain reliever, for instance transcutaneous electrical nerve stimulation (TENS) electrode employs a low-voltage electrical current for pain-relieving procedure. Increasing prevalence of Cardiovascular Diseases (CVDs) such as Coronary Artery Disease (CAD), Heart Arrhythmias, Heart Failure, Heart Valve Disease, Pericardial Disease, Cardiomyopathy and Congenital Heart Disease that utilizes these electrode in pacemaker for cardiac rhythm management are the major drivers of the market. 

In addition, technical advances in therapeutic electrodes and the high demand for portable medical devices to combat rising hospital and healthcare-related costs are also expected to drive market growth globally. Moreover, favorable reimbursement policies and a rise in the geriatric population, which is susceptible to a variety of lifestyle-related diseases and disorders, is further anticipated to fuel the growth. However, the high cost and allergic reactions risks associated with therapeutic electrodes could pose a threat to the market's growth during the forecast period 2021-2026.

Report Coverage

The report: “Therapeutic Electrodes Market Forecast (2021-2026)”, by Industry ARC, covers an in-depth analysis of the following segments of the Therapeutic Electrodes Market.
By Product Type: Defibrillator Electrodes, Electrosurgical Electrodes, Pacemaker Electrodes, Transcutaneous Electrical Nerve Stimulation (TENS) Electrodes and Others.                                                                                                         
By End User: Hospitals, Clinics and Ambulatory Surgical Centers.
By Distribution Channel: Online Distribution Channel and Traditional Offline Retail.
By Geography: North America (U.S, Canada, Mexico), Europe (Germany, UK, France, Italy, Spain, Russia and Others), Asia-Pacific (China, Japan India, South Korea, Australia and Others), South America(Brazil, Argentina and others) and Rest of the World (Middle East and Africa).

Key Takeaways

  • Geographically, North America region held 38.2% of the total market share in 2020 owing to the rising geriatric population, growing accidents and increasing health concerns.
  • Increasing prevalence of diseases such as Coronary Artery Disease (CAD), Heart Arrhythmias, Heart Failure, Heart Valve Disease, Pericardial Disease, Cardiomyopathy and Congenital Heart Disease are the major driving force for the Therapeutic Electrodes Market during the forecast period 2021-2026.
  • Detailed analysis on the Strength, Weakness and Opportunities of the prominent players operating in the market will be provided in the Therapeutic Electrodes Market.

Therapeutic Electrodes Market - By Geography, 2020.

Therapeutic Electrodes Market

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Therapeutic Electrodes Market Segment Analysis- By Product Type

By Product, the global market can be classified into Defibrillator Electrodes, Electrosurgical Electrodes, Pacemaker Electrodes, Transcutaneous Electrical Nerve Stimulation (TENS) Electrodes and Others. Due to the rising occurrence of CVDs, the defibrillator electrodes segment accounted for the majority of this industry. In the coming years, factors such as changing lifestyles and the increasing occurrence of CVDs such as cardiac arrhythmia and stroke will contribute to the growth of this industry segment. However increasing prevalence of CVDs is also is propelling the demand for pacemaker electrodes which is anticipated to register significant CAGR 8.2% of during the forecast period owing to the easy acceptance of the products from manufacturing companies coupled with the rising willingness of the patients in the developed countries to spend on premium products.

Therapeutic Electrodes Market Segment Analysis - By Distribution channel

Based on Distribution Channel, the global market is segmented into Online Distribution Channel and Traditional Offline Retail. Traditional offline retail segment account for the highest market share in 2020 and is projected to grow at a CAGR of 5.1% during the forecast period 2021-2026. The dominance is due to higher owing to benefits such as the touch-and-feel experience before purchase, moreover the on-site guidance from a sales representative, and an immediate satisfaction instead of delay from the delivery of the device are the major driving forces driving the traditional offline retail segment.

However, with increasing number of COVID-19 cases and growing restrictions from the government in tier I and II, markets are increasing rapidly the online distribution channel segment at a faster CAGR. Moreover along with the freedom they get to look at multiple options and compare for the best price & features, from the comfort of their home or on the go as per an individual’s preference is further poised to increase the online sale market of Therapeutic Electrodes during the forecast period 2021-2026.

Therapeutic Electrodes Market Segment Analysis - By Geography

Based on geography, North America dominated the Therapeutic Electrodes Market with a region share of 38.2% in 2020 followed by Europe and APAC. Increased demand of due to rising cases of CVDs, and increasing health concerns are the major factor propelling the growth in this region. Moreover, the presence of large number of medical device company that invest heavily on the research along with the easy availability of technologically advanced devices is predicted to drive the market growth in this region.

However, Asia Pacific is set to be the fastest growing region owing to the growing population, rising demand for a better healthcare structure and higher investment and funding by government in this region. Moreover, people become more conscious of the benefits of using them to improve their quality of life in developing countries like India and China which is further predicted to drive the market growth during the forecast period 2021-2026 in this region. 

Therapeutic Electrodes Market Drivers

Increasing Incidence of CVDs

The demand is driven by the high prevalence of Cardiovascular disease that employ these therapeutic electrodes. As of September 2020 according to the Centers for Disease Control and Prevention (CDC), nearly 655,000 Americans will die from cardiovascular disease each year. These devices uses Therapeutic Electrodes since it serves to help control or monitor irregular heartbeats in people with certain heart rhythm disorders and heart failure. The increasing use of therapeutic electrodes in the devices to rehabilitate CVDs patients is expected to fuel development during the forecast period 2021-2026. In addition, the market is expected to be fueled by the development of advanced therapeutic electrodes, improved health care facilities, and expansion of healthcare infrastructure around the world. Moreover, the increased and active position of distributors, and the recent growth of the online distribution channel is further poised to propel the global growth of the Therapeutic Electrodes industry.

Therapeutic Electrodes Market Challenge

High Cost of the Product

Despite the increased prevalence of CVDs, some factors are preventing product acceptance. The high cost of the product which makes it difficult for the middle and lower class people to afford, also the allergic reactions risks associated with therapeutic electrodes are limiting adoption of these devices. These factors are predicted to act as major impediment for market's growth.

Therapeutic Electrodes Market Landscape:

Product launches, mergers and acquisitions, joint ventures, and geographical expansions are key strategies adopted by players in the Therapeutic Electrodes Market. Key companies of this market are 3M, Medtronic plc, Ambu, Beurer GmbH, GSI Technologies, Adhex Technologies, Heart Sync, MAQUET, Compass Health Brands Corporation, Allied Medical, Bound Tree Medical, Graphic Controls, Technomed Electronics, TENS Units, Rothacher Medical, Koninklijke Philips and RS Medical.

Developments:

In January 2019, Medtronic PLC agreed to acquire Epix Therapeutics Inc., a privately held medical company developing a medical device for treating patients with irregular heartbeats.

Relevant reports

Report Code: HCR 21768

Report Code: HCR 0061

 For more Lifesciences and Healthcare related reports, please click here
1. Therapeutic Electrodes Market Overview
    1.1 Definitions and Scope
2. Therapeutic Electrodes Market Executive Summary
    2.1 Market Revenue, Market Size and Key Trends
    2.2 Key trends By Product Type
    2.3 Key trends By End User
    2.4 Key trends By Distribution Channel
    2.5 Key trends By Geography
3. Therapeutic Electrodes Market Landscape
    3.1 Product Benchmarking- Key Companies
    3.2 Financial Analysis- Key Companies
    3.3 Patent Analysis
    3.4 Pricing Analysis–Average Pricing
4. Therapeutic Electrodes Market- Startup companies Scenario Premium Premium
    4.1 Key startup company Analysis by
        4.1.1 Investment
        4.1.2 Revenue
        4.1.3 Application Analysis
        4.1.4 Venture Capital and Funding Scenario
5. Therapeutic Electrodes Market- Industry Market Entry Scenario Premium Premium
    5.1 Regulatory Framework Overview
    5.2 New Business and Ease of Doing business index
    5.3 Case Studies of successful ventures
6. Therapeutic Electrodes Market Forces
    6.1 Market Drivers
    6.2 Market Constraints and Challenges
    6.3 Porters Five Force Model
        6.3.1 Bargaining Power of Suppliers
        6.3.2 Bargaining Powers of Customers
        6.3.3 Threat of New Entrants
        6.3.4 Rivalry Among Existing Players
        6.3.5 Threat of Substitutes
7. Therapeutic Electrodes Market Strategic Analysis
    7.1 Value Chain Analysis
    7.2 Opportunities Analysis
    7.3 Market Life Cycle
8. Therapeutic Electrodes Market– By Product Type
    8.1 Defibrillator Electrodes
    8.2 Electrosurgical Electrodes
    8.3 Pacemaker Electrodes
    8.4 Transcutaneous Electrical Nerve Stimulation (TENS) Electrodes
    8.5 Others
9. Therapeutic Electrodes Market– By End User
    9.1 Hospitals
    9.2 Clinics
    9.3 Ambulatory Surgical Centers
10. Therapeutic Electrodes Market– By Distribution Channel
    10.1 Online Distribution Channel
    10.2 Traditional Offline Retail
11. Therapeutic Electrodes Market- By Geography
    11.1 North America
        11.1.1 U.S
        11.1.2 Canada
        11.1.3 Mexico
    11.2 Europe
        11.2.1 U.K
        11.2.2 Germany
        11.2.3 France
        11.2.4 Spain
        11.2.5 Italy
        11.2.6 Russia
        11.2.7 Rest of Europe
    11.3 Asia Pacific
        11.3.1 India
        11.3.2 China
        11.3.3 Japan
        11.3.4 Australia
        11.3.5 South Korea
        11.3.6 Rest of Asia pacific
    11.4 South America
        11.4.1 Brazil
        11.4.2 Argentina
        11.4.3 Rest of South America
    11.5 Rest of the World
        11.5.1 Middle East
        11.5.2 Africa
12. Therapeutic Electrodes Market Entropy
13. Therapeutic Electrodes Market- Industry / Segment Competition landscape Premium Premium
    13.1 Market Share Analysis
        13.1.1 Market Share by Country- Key companies
        13.1.2 Market Share by Region- Key companies
        13.1.3 Market Share at Global Level- Key companies
        13.1.4 Best Practices for Companies
14. Therapeutic Electrodes Market- Key Company List by Country Premium Premium
15. Therapeutic Electrodes Market Company Analysis (Company Revenue, Products, M&A, Developments)
    15.1 Company 1
    15.2 Company 2
    15.3 Company 3
    15.4 Company 4
    15.5 Company 5
    15.6 Company 6
    15.7 Company 7
    15.8 Company 8
    15.9 Company 9
    15.10 Company 10
    "*Financials for private companies would be provided on a best efforts basis”.

LIST OF TABLES

1.Global GLOBAL THERAPEUTIC ELECTRODES MARKET, BY PRODUCT Market 2023-2030 ($M)
1.1 TRANSCUTANEOUS ELECTRICAL NERVE STIMULATION ELECTRODES Market 2023-2030 ($M) - Global Industry Research
1.2 ELECTROSURGICAL ELECTRODES Market 2023-2030 ($M) - Global Industry Research
1.3 PACEMAKER ELECTRODES Market 2023-2030 ($M) - Global Industry Research
1.4 DEFIBRILLATOR ELECTRODES Market 2023-2030 ($M) - Global Industry Research
2.Global GLOBAL THERAPEUTIC ELECTRODES MARKET, BY TYPE Market 2023-2030 ($M)
2.1 DISPOSABLES Market 2023-2030 ($M) - Global Industry Research
2.2 REUSABLES Market 2023-2030 ($M) - Global Industry Research
3.Global GLOBAL THERAPEUTIC ELECTRODES MARKET, BY END USER Market 2023-2030 ($M)
3.1 HOSPITALS Market 2023-2030 ($M) - Global Industry Research
3.2 AMBULATORY SURGICAL CENTER Market 2023-2030 ($M) - Global Industry Research
3.3 CLINICS Market 2023-2030 ($M) - Global Industry Research
4.Global GLOBAL THERAPEUTIC ELECTRODES MARKET, BY PRODUCT Market 2023-2030 (Volume/Units)
4.1 TRANSCUTANEOUS ELECTRICAL NERVE STIMULATION ELECTRODES Market 2023-2030 (Volume/Units) - Global Industry Research
4.2 ELECTROSURGICAL ELECTRODES Market 2023-2030 (Volume/Units) - Global Industry Research
4.3 PACEMAKER ELECTRODES Market 2023-2030 (Volume/Units) - Global Industry Research
4.4 DEFIBRILLATOR ELECTRODES Market 2023-2030 (Volume/Units) - Global Industry Research
5.Global GLOBAL THERAPEUTIC ELECTRODES MARKET, BY TYPE Market 2023-2030 (Volume/Units)
5.1 DISPOSABLES Market 2023-2030 (Volume/Units) - Global Industry Research
5.2 REUSABLES Market 2023-2030 (Volume/Units) - Global Industry Research
6.Global GLOBAL THERAPEUTIC ELECTRODES MARKET, BY END USER Market 2023-2030 (Volume/Units)
6.1 HOSPITALS Market 2023-2030 (Volume/Units) - Global Industry Research
6.2 AMBULATORY SURGICAL CENTER Market 2023-2030 (Volume/Units) - Global Industry Research
6.3 CLINICS Market 2023-2030 (Volume/Units) - Global Industry Research
7.North America GLOBAL THERAPEUTIC ELECTRODES MARKET, BY PRODUCT Market 2023-2030 ($M)
7.1 TRANSCUTANEOUS ELECTRICAL NERVE STIMULATION ELECTRODES Market 2023-2030 ($M) - Regional Industry Research
7.2 ELECTROSURGICAL ELECTRODES Market 2023-2030 ($M) - Regional Industry Research
7.3 PACEMAKER ELECTRODES Market 2023-2030 ($M) - Regional Industry Research
7.4 DEFIBRILLATOR ELECTRODES Market 2023-2030 ($M) - Regional Industry Research
8.North America GLOBAL THERAPEUTIC ELECTRODES MARKET, BY TYPE Market 2023-2030 ($M)
8.1 DISPOSABLES Market 2023-2030 ($M) - Regional Industry Research
8.2 REUSABLES Market 2023-2030 ($M) - Regional Industry Research
9.North America GLOBAL THERAPEUTIC ELECTRODES MARKET, BY END USER Market 2023-2030 ($M)
9.1 HOSPITALS Market 2023-2030 ($M) - Regional Industry Research
9.2 AMBULATORY SURGICAL CENTER Market 2023-2030 ($M) - Regional Industry Research
9.3 CLINICS Market 2023-2030 ($M) - Regional Industry Research
10.South America GLOBAL THERAPEUTIC ELECTRODES MARKET, BY PRODUCT Market 2023-2030 ($M)
10.1 TRANSCUTANEOUS ELECTRICAL NERVE STIMULATION ELECTRODES Market 2023-2030 ($M) - Regional Industry Research
10.2 ELECTROSURGICAL ELECTRODES Market 2023-2030 ($M) - Regional Industry Research
10.3 PACEMAKER ELECTRODES Market 2023-2030 ($M) - Regional Industry Research
10.4 DEFIBRILLATOR ELECTRODES Market 2023-2030 ($M) - Regional Industry Research
11.South America GLOBAL THERAPEUTIC ELECTRODES MARKET, BY TYPE Market 2023-2030 ($M)
11.1 DISPOSABLES Market 2023-2030 ($M) - Regional Industry Research
11.2 REUSABLES Market 2023-2030 ($M) - Regional Industry Research
12.South America GLOBAL THERAPEUTIC ELECTRODES MARKET, BY END USER Market 2023-2030 ($M)
12.1 HOSPITALS Market 2023-2030 ($M) - Regional Industry Research
12.2 AMBULATORY SURGICAL CENTER Market 2023-2030 ($M) - Regional Industry Research
12.3 CLINICS Market 2023-2030 ($M) - Regional Industry Research
13.Europe GLOBAL THERAPEUTIC ELECTRODES MARKET, BY PRODUCT Market 2023-2030 ($M)
13.1 TRANSCUTANEOUS ELECTRICAL NERVE STIMULATION ELECTRODES Market 2023-2030 ($M) - Regional Industry Research
13.2 ELECTROSURGICAL ELECTRODES Market 2023-2030 ($M) - Regional Industry Research
13.3 PACEMAKER ELECTRODES Market 2023-2030 ($M) - Regional Industry Research
13.4 DEFIBRILLATOR ELECTRODES Market 2023-2030 ($M) - Regional Industry Research
14.Europe GLOBAL THERAPEUTIC ELECTRODES MARKET, BY TYPE Market 2023-2030 ($M)
14.1 DISPOSABLES Market 2023-2030 ($M) - Regional Industry Research
14.2 REUSABLES Market 2023-2030 ($M) - Regional Industry Research
15.Europe GLOBAL THERAPEUTIC ELECTRODES MARKET, BY END USER Market 2023-2030 ($M)
15.1 HOSPITALS Market 2023-2030 ($M) - Regional Industry Research
15.2 AMBULATORY SURGICAL CENTER Market 2023-2030 ($M) - Regional Industry Research
15.3 CLINICS Market 2023-2030 ($M) - Regional Industry Research
16.APAC GLOBAL THERAPEUTIC ELECTRODES MARKET, BY PRODUCT Market 2023-2030 ($M)
16.1 TRANSCUTANEOUS ELECTRICAL NERVE STIMULATION ELECTRODES Market 2023-2030 ($M) - Regional Industry Research
16.2 ELECTROSURGICAL ELECTRODES Market 2023-2030 ($M) - Regional Industry Research
16.3 PACEMAKER ELECTRODES Market 2023-2030 ($M) - Regional Industry Research
16.4 DEFIBRILLATOR ELECTRODES Market 2023-2030 ($M) - Regional Industry Research
17.APAC GLOBAL THERAPEUTIC ELECTRODES MARKET, BY TYPE Market 2023-2030 ($M)
17.1 DISPOSABLES Market 2023-2030 ($M) - Regional Industry Research
17.2 REUSABLES Market 2023-2030 ($M) - Regional Industry Research
18.APAC GLOBAL THERAPEUTIC ELECTRODES MARKET, BY END USER Market 2023-2030 ($M)
18.1 HOSPITALS Market 2023-2030 ($M) - Regional Industry Research
18.2 AMBULATORY SURGICAL CENTER Market 2023-2030 ($M) - Regional Industry Research
18.3 CLINICS Market 2023-2030 ($M) - Regional Industry Research
19.MENA GLOBAL THERAPEUTIC ELECTRODES MARKET, BY PRODUCT Market 2023-2030 ($M)
19.1 TRANSCUTANEOUS ELECTRICAL NERVE STIMULATION ELECTRODES Market 2023-2030 ($M) - Regional Industry Research
19.2 ELECTROSURGICAL ELECTRODES Market 2023-2030 ($M) - Regional Industry Research
19.3 PACEMAKER ELECTRODES Market 2023-2030 ($M) - Regional Industry Research
19.4 DEFIBRILLATOR ELECTRODES Market 2023-2030 ($M) - Regional Industry Research
20.MENA GLOBAL THERAPEUTIC ELECTRODES MARKET, BY TYPE Market 2023-2030 ($M)
20.1 DISPOSABLES Market 2023-2030 ($M) - Regional Industry Research
20.2 REUSABLES Market 2023-2030 ($M) - Regional Industry Research
21.MENA GLOBAL THERAPEUTIC ELECTRODES MARKET, BY END USER Market 2023-2030 ($M)
21.1 HOSPITALS Market 2023-2030 ($M) - Regional Industry Research
21.2 AMBULATORY SURGICAL CENTER Market 2023-2030 ($M) - Regional Industry Research
21.3 CLINICS Market 2023-2030 ($M) - Regional Industry Research

LIST OF FIGURES

1.US Therapeutic Electrodes Market Revenue, 2023-2030 ($M)
2.Canada Therapeutic Electrodes Market Revenue, 2023-2030 ($M)
3.Mexico Therapeutic Electrodes Market Revenue, 2023-2030 ($M)
4.Brazil Therapeutic Electrodes Market Revenue, 2023-2030 ($M)
5.Argentina Therapeutic Electrodes Market Revenue, 2023-2030 ($M)
6.Peru Therapeutic Electrodes Market Revenue, 2023-2030 ($M)
7.Colombia Therapeutic Electrodes Market Revenue, 2023-2030 ($M)
8.Chile Therapeutic Electrodes Market Revenue, 2023-2030 ($M)
9.Rest of South America Therapeutic Electrodes Market Revenue, 2023-2030 ($M)
10.UK Therapeutic Electrodes Market Revenue, 2023-2030 ($M)
11.Germany Therapeutic Electrodes Market Revenue, 2023-2030 ($M)
12.France Therapeutic Electrodes Market Revenue, 2023-2030 ($M)
13.Italy Therapeutic Electrodes Market Revenue, 2023-2030 ($M)
14.Spain Therapeutic Electrodes Market Revenue, 2023-2030 ($M)
15.Rest of Europe Therapeutic Electrodes Market Revenue, 2023-2030 ($M)
16.China Therapeutic Electrodes Market Revenue, 2023-2030 ($M)
17.India Therapeutic Electrodes Market Revenue, 2023-2030 ($M)
18.Japan Therapeutic Electrodes Market Revenue, 2023-2030 ($M)
19.South Korea Therapeutic Electrodes Market Revenue, 2023-2030 ($M)
20.South Africa Therapeutic Electrodes Market Revenue, 2023-2030 ($M)
21.North America Therapeutic Electrodes By Application
22.South America Therapeutic Electrodes By Application
23.Europe Therapeutic Electrodes By Application
24.APAC Therapeutic Electrodes By Application
25.MENA Therapeutic Electrodes By Application
26.3 M COMPANY, Sales /Revenue, 2015-2018 ($Mn/$Bn)
27.AMBU A/S, Sales /Revenue, 2015-2018 ($Mn/$Bn)
28.ADHEX TECHNOLOGIES, Sales /Revenue, 2015-2018 ($Mn/$Bn)
29.ALLIED MEDICAL LIMITED, Sales /Revenue, 2015-2018 ($Mn/$Bn)
30.BEURER GMBH, Sales /Revenue, 2015-2018 ($Mn/$Bn)
31.MEDTRONIC PLC, Sales /Revenue, 2015-2018 ($Mn/$Bn)
32.RS MEDICAL, Sales /Revenue, 2015-2018 ($Mn/$Bn)
33.ABBOTT LABORATORIES, Sales /Revenue, 2015-2018 ($Mn/$Bn)
34.ROTHACHER MEDICAL GMBH, Sales /Revenue, 2015-2018 ($Mn/$Bn)
35.BOUND TREE MEDICAL, Sales /Revenue, 2015-2018 ($Mn/$Bn)