Disposable EEG Electrode Market Size Is Expected To Reach USD 921.3 Million By 2028
Disposable EEG Electrode Industry Overview
The global disposable EEG electrode market size is expected to reach USD 921.3 million by 2028, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 3.6% from 2021 to 2028. Increasing cases of HAIs, technological advancements, and rising prevalence of neurological disorders and Acute Ischemic Stroke (AIS) are the key driving factors for the market.
Stroke is the most common cause of death, followed by heart and cancer diseases worldwide. For instance, according to the WHO, in 2016, 15.2 million deaths of the 56.9 million deaths worldwide were due to stroke. Acute Ischemic Stroke (AIS) is the most common form of stroke, caused due to reduced blood supply to the brain, making brain cells die. For instance, according to U.S. CDC, 87.0% of strokes are classified as ischemic strokes, with the U.S. being the most commonly affected country. According to Southwestern Medical Center, about 795,000 people in the U.S. suffer from a stroke every year. Furthermore, according to National Center for Biotechnology Information (NCBI), strokes occur more commonly in women than men, especially in the elderly population (aged 55 to 65).
Moreover, according to the U.K. Stroke Association, more than 100,000 strokes occur in the U.K. every year. In every 2 seconds, someone in the world is likely to have a stroke. Stroke is the fourth biggest killer in the U.K., fourth in England and wales, and third in Scotland and Northern Ireland. Around 1 in 10 patients who have a hemorrhage stroke die before reaching a hospital. In addition, according to the U.K. Stroke Association, nearly 85.0% of all strokes are AIS and 15.0% are hemorrhage stroke. Disposable EEG electrodes can be used for the early-stage detection of the stroke. Thus, the increasing prevalence of AIS is expected to drive the market over the forecast period.
Disposable EEG Electrode Market Segmentation
Based on the Product Insights, the market is segmented into Needle Electrode, Patch Electrode, Cup Electrode, Disk Electrode, and Others.
- The needle electrode segment dominated the market for disposable EEG electrodes and held the largest revenue share of 31.8% in 2020. The segment is expected to witness a considerable growth rate over the forecast period. The disposable needle EEG electrodes are used for direct cortical recordings and it is an invasive procedure.
- The skin preparation needs to be done before the actual procedure, in order to have better electrical conductivity between the skin surface and electrodes. The increasing cases of neurological disorders is one of the major factors driving the segment.
Based on the Application Insights, the market is segmented into Diagnostic, and Therapeutic.
- The diagnostic segment dominated the market for disposable EEG electrodes and held the largest revenue share of 40.6% in 2020 and is anticipated to witness a considerable growth rate over the forecast period. The increasing cases of neurological disorders across the globe is the major factor driving the segment.
- The therapeutic segment is anticipated to witness a considerable growth rate over the forecast period. The rising geriatric population across the globe is the major factor propelling the growth of the segment. The estimates by WHO suggest that the global population of people aged 65 years and older is expected to rise from 7.00% in 2000 to 16% in 2050.
Based on the End-use Insights, the market is segmented into Hospitals, Clinics, and Others.
- The hospital segment dominated the market for disposable EEG electrodes and held the largest revenue share of 39.9% in 2020. The growth of this segment can be attributed to an upsurge in surgical procedures globally and an increase in the number of neurological disorders, which require the use of disposable EEG electrodes.
- The hospital segment is anticipated to witness the fastest growth rate over the forecast period. Increase in the number of hospitalizations worldwide and the rise in the adoption of technologically advanced products in hospitals are leading to an increase in the number of patients availing treatments in hospitals.
Disposable EEG Electrode Regional Outlook
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa (MEA)
Key Companies Profile & Market Share Insights
Key players are involved in adopting strategies such as mergers and acquisitions, partnerships, and the launch of new products and services to strengthen their foothold in the market. For instance, in 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 players are also investing heavily in research and development to manufacture technologically advanced products. Some of the prominent players in the disposable EEG electrode market 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.
About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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Grand View Research, Inc.
Phone: 1-415-349-0058
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Email: sales@grandviewresearch.com
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