Market Trends of Global Cardiology Electrodes Industry
This section covers the major market trends shaping the Cardiology Electrodes Market according to our research experts:
Disposable Segment is Expected to Hold a Major Market Share in the Market Over the Forecast Period
The disposable segment is expected to hold a major market share. Disposable cardiology electrodes are used with snap-connect lead wires. These electrodes detect the small electrical changes that result from cardiac muscle depolarization followed by repolarization during each cardiac cycle.
The major factors affecting segment growth are the growing burden of cardiovascular diseases (CVDs), the advantages of disposable electrodes, and the strategic initiatives the market players undertake.
The growing burden of cardiovascular disorders (CVDs) leads to many electrocardiography procedures. For instance, as per the 2021 Pan American Health Organization (PAHO), cardiovascular diseases account for 40.8 million disability-adjusted life years (DALYs) in the Americas. In addition, according to the National Center for Chronic Disease Prevention and Health Promotion, Division for Heart Disease and Stroke Prevention data updated in July 2022, coronary heart disease is the most common type of heart disease. Moreover, about 805,000 people in the United States have a heart attack every year. People suffering from cardiovascular diseases or those at high cardiovascular risk need early detection and intervention to avoid fatal consequences. Such statistics reflect the growing demand for disposable cardiology electrodes, thereby contributing to the growth.
Additionally, disposable electrodes' advantages are another factor in increasing segment growth. For instance, in June 2021, an article published in the National Library of Medicine stated that cross-infection could arise from reusing ECG cables, even if they have been cleaned. Surgical site infection is a particular risk in patients who have undergone coronary artery bypass grafting because ECG wires are placed on the chest close to the incision site. Single-use ECG reduces the risk of cross-contamination between patients and free nursing time for patient care because they are discarded after use and do not have to be cleaned and disinfected for use with another patient. Thus, with such advantages, adopting disposable electrodes is expected to increase segment growth.
In addition, in September 2021, Bittium expanded the portfolio of its new-generation ECG electrodes. In combination with the Bittium Faros ECG device, the new Bittium OmegaSnap patch electrodes support one (1-CH), two (2-CH), and three-channel (3-CH) ECG measurements. OmegaSnap electrodes have been designed with special emphasis on user comfort. They allow for a patient-friendly way to perform continuous ECG measurements for up to 7 days without needing to change the electrode. The patch electrodes with excellent anatomical fit and high-quality signal are very comfortable. As these electrodes are disposable, they enable a hygienic way of safely performing measurements, especially during epidemics.
Thus, the market players are expected to witness significant growth over the forecast period due to the abovementioned developments.
North America is Expected to Hold a Significant Share in the Market and Expected to do Same Over the Forecast Period
Within North America, the United States holds a major share of the market. The presence of sophisticated healthcare infrastructure, favorable government initiatives for product development, and high patient awareness levels, coupled with an increasing target patient population, are expected to be some of the prominent drivers for the growth of the cardiology electrodes market over the coming years in the region. According to the American Heart Association, by 2035, around 45% of the United States population is likely to suffer from heart disease due to factors like high obesity, high smoking, and unhealthy lifestyles, which may lead to heart attacks and other related issues. Similarly, as per a February 2022 published update by the Centers for Disease Control and Prevention (CDC), in 2020, the percentage of adults diagnosed with coronary heart disease was 4.6% in the United States. In addition, as of February 2021, approximately 1.5 million heart attacks and strokes occur every year in the United States. Since the burden of heart failures in the country is also increasing with the increase in the older population, it is driving the demand for cardiology electrodes, thus, boosting the market. Similarly, as per the data published in February 2022 by the Heart and Stroke Foundation Canada, in Canada, 750,000 people are living with heart failure and 100,000 people are diagnosed with this incurable condition each year which is further expected to increase with the rising aging population and cardiovascular risk factors such as hypertension and smoking, among others.
Thus, due to the developments mentioned above, the market is expected to witness significant growth over the forecast period.
