PUBLISHER: Allied Market Research | PRODUCT CODE: 1225057
PUBLISHER: Allied Market Research | PRODUCT CODE: 1225057
The global disposable EEG electrode market was valued at $386.3 million in 2021, and is projected to reach $542.2 million by 2031, growing at a CAGR of 3.5% from 2022 to 2031.Electroencephalography (EEG) is a device that detects electrical activity in the brain. Disposable EEG electrodes are used in the examination of EEG. Disposable EEG electrodes are designed to provide accurate reading of electrical impulses in the brain. Moreover, disposable EEG electrode reduces the possibility of cross-contamination and save time when compared to reusable EEG electrode. Disposable EEG electrodes are preferred over reusable EEG electrode in COVID-19 due to increased hygienic practices. Disposable EEG electrodes includes grass disposable deep-cup EEG electrode, Cadwell disposable EEG+ cup electrode and rythmlik disposable cup electrode.
The growth of disposable EEG electrode market is driven by technological advancement for development of different disposable EEG electrode, rise in the number of neurological diseases and various strategies adopted such as product launch and product approval by the market key players. In neurological disorders and brain diseases disposable EEG electrode are used to analyze brain impulses. Thus, rise in the prevalence of neurological disorders such as Parkinson's disease, epilepsy, essential tremor, and dystonia are anticipated to drive the demand of disposable EEG electrode and drives the market growth. For instance, according to World Health Organization (WHO) it was reported that, in 2019, Parkinson's disease resulted in 5.8 million individuals, an increase of 81% since 2000, and caused 329 000 deaths, an increase of over 100% since 2000. In addition, increase in the implementation of government policies for treatment of neurological disorders drives the demand for disposable EEG electrode. For instance, the Intersectoral global action plan on epilepsy and other neurological disorders 2022-2031 was approved by the World Health Assembly in May 2022. In order to provide a thorough, coordinated response across sectors, the action plan will address the difficulties and gaps in delivering care and services for people with epilepsy and other neurological conditions like Parkinson's disease that exist globally. This includes improving governance, setting higher policy priorities, delivering prompt, accurate, and responsive diagnosis, treatment, and care, putting in place measures for promotion and prevention, encouraging research and innovation, and bolstering information systems.
Similarly, as per the Office for National Statistics, total healthcare expenditure in the UK accounted for 12.0% of the gross domestic product (GDP) in 2020, as compared to 9.9% in 2019. Furthermore, it has been estimated that 30% of the healthcare expenditure is used in upgrading the healthcare infrastructure, especially medical equipment and application used at public health centers, such as hospitals. Hence, rise in healthcare expenditure across the globe is expected to fuel the demand for disposable EEG electrode application in neurological and brain disorders for diagnosis and treatment, thereby boosting the market growth.
On the other hand, high cost of treatment and unavoidable side effects of the procedures are some factors that are anticipated to restrain the growth of the disposable EEG electrode market.
The disposable EEG electrode market is segmented based on shape, application, end user and user. By shape the market is segmented into cup electrode, needle electrode and disk electrode. By application, the market is segmented into diagnostic and therapeutic. By end user the market is segmented into hospitals and clinics, diagnostic centers, ambulatory surgical centers, and others. Region-wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Some of the major companies that operate in the global disposable EEG electrode market include Medtronic PLC, Ambu A/S, CONMED Corporation, Brain Scientific, Inc, Natus Medical Incorporated, Rhythmlink International, LLC, Cadwell Industries, Inc, Philips Disposable EEG Snap, Nihon Kohden Disposable Gold Cup EEG Electrode, GE healthcare Disposable EEG Cup Electrodes.
Key Benefits For Stakeholders
By Shape
By Application
By End User
By Region