Cardiology Electrodes Market: Introduction
· An electrical impulse is generated in the human heart to ensure appropriate blood flow from the heart to the other body cells. This electrical impulse can be monitored to determine whether there is a disturbance in blood flow within the human body. A cardiology electrode is a conductive pad that is applied to the skin and allows electrical current to be recorded.
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Global Cardiology Electrodes Market: Key Trends, Drivers, and Opportunities
· Rise in prevalence of cardiovascular diseases is projected to drive the global cardiology electrodes market from 2021 to 2031. According to a July 2020 article released by the National Centers for Biotechnology Information, prevalence of ischemic heart disease is increasing across the world, at a rate of 1,655 individuals per 100,000, which is expected to reach 1,845 per 100,000 by 2030.
· Surge in number of product releases and approvals is likely to boost the growth of the global cardiology electrodes market during the forecast period. For instance, in December 2018, Nissha Co., Ltd., a Japan-based medical equipment manufacturer, introduced Vermed Claravue electrodes. These cardiology electrodes are disposable ECG electrodes, which have been prewired and could be utilized in medical applications such as cardiology.
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· Rapid research & development by market players have resulted in progression of cardiology electrodes, which is projected to fuel the growth of the global cardiology electrodes market during the forecast period. In February 2021, QT Medical, Inc., a medical device company based in the U.S., developed a new electrode-based ECG with no wire leads to reduce contact transmission during the COVID-19 pandemic.
· The global cardiology electrodes market is anticipated to be restrained by rise in product recalls and complications associated with cardiology electrode use. In February 2021, Boston Scientific Corporation, a medical device company based in the U.S., recalled its product EMBLEM S-ICD Subcutaneous Electrode, which is implanted beneath the skin of the chest to control irregular heartbeats. This product was recalled owing to increased chances of breaking during use, which could result in the failure of this medical device and, in a worst-case scenario, cardiovascular mortality.
· Desterilization cost of reusable electrodes is quite high. This acts as a restraint of the global cardiology electrodes market. Moreover, increase in efforts aimed at improving the diagnosis & treatment of patients with cardiac rhythm abnormalities and lowering the societal burden and improving patient outcomes present significant opportunities in the global cardiology electrodes market.
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North America to Capture Major Share of Global Cardiology Electrodes Market
· North America is projected to dominate the global cardiology electrodes market owing to increase in number of ECG procedures and rise in health care spending by the U.S. Government to treat cardiovascular illnesses. In 2018, the National Institutes of Health (NIH) in the U.S. invested US$ 2.3 Bn on R&D linked to cardiovascular illnesses for effective management and early treatment.
· The market in Europe is anticipated to grow at a rapid pace during the forecast period due to high incidence of cardiovascular diseases such as heart attack, stroke, and heart failure. According to the American Heart Association's Heart Disease and Stroke Statistics 2020, Europe is one of the primary regions where ischemic heart disease is prominent.
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Key Players Operating in Global Cardiology Electrodes Market
Major players operating in the global cardiology electrodes market are:
· 3M
· ADInstruments Pty Ltd.
· Medtronic
· Cardinal Health
· CONMED Corporation
· NeuroSky
· Asahi Kasei Corporation
· Rhythmlink International
· Leonhard Lang USA, Inc.
· VectraCor, Inc.
· NeuroTherapeutics
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