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. Medtronic PLC, Ambu A/S, CONMED Corporation, BIOPAC Systems Inc. are some of the key players in this industry. 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.
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Disposable EEG Electrode Market Report Highlights
- In terms of revenue, the disposable needle electrode segment held the largest revenue share in 2020. The rising cases of hospital acquired infections across the globe is the major factor propelling segment growth
- The diagnostic segment held the largest revenue share in 2020 and is expected to witness a considerable growth rate over the forecast period due to the increasing prevalence of neurological disorders
- The hospitals segment held the largest revenue share in 2020. The segment growth is majorly driven by the increasing number of hospitals
- In Asia Pacific, the market is expected to witness the fastest growth rate over the forecast period owing to the rising prevalence of chronic wounds in people living in the region