Disposable EEG Electrode Market: Hospital Segment Dominated And Held The Largest Revenue Share
Disposable EEG Electrode Industry Overview
The global disposable EEG electrode market size was valued at USD 695.6 million in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 3.6% from 2021 to 2028. The demand for disposable EEG electrodes is increasing owing to technological advancements, an increasing number of HAIs cases, and the rising prevalence of neurological disorders across the globe. The increasing incidence of HAIs due to lack of sanitation and precaution is one of the leading factors contributing to the growth of the market for disposable EEG electrodes.
For instance, as per the CDC, about one in 25 hospital patients contracts at least one HAI every year. The use of disposable EEG electrodes helps to lower the risk of contracting HAIs. Furthermore, they also help to prevent the transmission of bacterial and other microbial infections from entering a patient’s body. Thus, healthcare professionals prefer to use disposable products over reusable ones. These factors are anticipated to propel the growth of the market for disposable EEG electrodes over the forecast period.
Gather more insights about the market drivers, restraints and growth of the Global Disposable EEG Electrode Market
Increase in the prevalence of HAIs due to the use of reusable EEG electrodes is a key factor anticipated to propel market growth over the forecast period. According to a CDC report in 2018, around 1.7 million cases of HAIs and around 99,000 associated deaths are reported each year in American hospitals. As per a report published by European Centre for Disease Prevention and Control (ECDC), in 2018, the prevalence of HAIs in European countries was around 7.1%. It also reported that around 4,131,000 patients suffer from HAIs in Europe each year. Such cases are expected to increase the demand for disposable EEG electrodes.
Increasing prevalence of neurological diseases, such as Parkinson’s disease, epilepsy, essential tremor, and dystonia, is a high-impact driver of the market for disposable EEG electrodes. According to the WHO, neurological diseases contribute to 6.3% of the global healthcare burden. Neurological disease is one of the major causes of mortality worldwide. High mortality rate and disease burden create major demand for the incorporation of long-term solutions such as magnetic brain stimulators. Furthermore, growing awareness about this neurological disease burden has increased the demand for disposable EEG electrodes as an effective therapy.
Growing geriatric population directly amplifies the incidence of neurological diseases globally. Estimates published by the WHO suggest that the global base of population pertaining to the age group of 65 years and above is expected to increase from 7.00% in 2000 to 16.00% in 2050. The geriatric population is highly susceptible to these disorders, which is expected to be a key market driver. The growing geriatric population in Asian countries, such as Japan and China, holds major untapped opportunities, which are expected to drive the market during the forecast period.
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Disposable EEG Electrode Industry Segmentation
Grand View Research has segmented the global disposable EEG electrode market on the basis of product, application, end-use, and region:
Disposable EEG Electrode Product Outlook (Revenue, USD Million, 2016 - 2028)
- Needle Electrode
- Patch Electrode
- Cup Electrode
- Disk Electrode
- Others
Disposable EEG Electrode Application Outlook (Revenue, USD Million, 2016 - 2028)
- Diagnostic
- Therapeutic
Disposable EEG Electrode End-use Outlook (Revenue, USD Million, 2016 - 2028)
- Hospitals
- Clinics
- Others
Disposable EEG Electrode Regional Outlook (Revenue, USD Million, 2016 - 2028)
- North America
- Europe
- Asia Pacific
- Latin America
- MEA (Middle East & Africa)
Market Share Insights:
- April 2020: Brain Scientific Inc. launched an online store to sell sanitized FDA-cleared NeuroCap and NeuroEEG. This may increase the customer pool of the company.
Key Companies profiled:
Some prominent players in the global Disposable EEG Electrode Industry include
- Medtronic PLC
- Ambu A/S
- CONMED Corporation
- BIOPAC Systems Inc.
- Brain Scientific, Inc.
- Natus Medical Incorporated
Order a free sample PDF of the Disposable EEG Electrode Market Intelligence Study, published by Grand View Research.
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