The global market of electrodes for medical devices is expected to be valued at $1.45 billion in 2019, growing at a compound annual growth rate of 11.7 percent, according to a Transparency Market Research report.
The market was valued at $633.6 million in 2012.
The market for electrodes used in medical devices is growing in part due to the rising demand for effective diagnosis, treatment and therapeutic devices. Additionally, consumers increasingly prefer disposable electrodes over reusable ones due to the user-friendly capabilities, low manufacturing costs and lower risk of healthcare-associated infections compared to reusable ones, according go the report.
In 2012, North America and Europe accounted for more than 60 percent of the worldwide total market of medical device electrodes. The Asia-Pacific region is projected to experience the highest market growth rate due to rising medical tourism and increasing disposable income, according to the report.
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