HOME Research Insight 3M Company (US) and Medtronic plc (Ireland) are the Prominent players in the Medical Electrodes Market

3M Company (US) and Medtronic plc (Ireland) are the Prominent players in the Medical Electrodes Market

The diagnostic medical electrodes market is expected to reach USD 732.8 Million by 2022 from USD 583.2 Million in 2017, at a CAGR of 4.7%. Rising incidence and prevalence of neurological and cardiovascular disorders, increasing investments in medical device research, and growing preference for home and ambulatory healthcare are the major factors driving the growth of this market. In addition, emerging markets such as China, India, and Brazil are expected to offer significant growth opportunities for players operating in the diagnostic medical electrodes market.

The medical electrodes market is highly competitive with several big and small players. Prominent players in the medical electrodes market include 3M Company (US), Medtronic plc (Ireland), Ambu (US), Natus Medical Incorporated (US), Rhythmlink International, LLC (US), Koninklijke Philips N.V. (Netherlands), Cognionics, Inc. (US), CONMED Corporation (US), Leonhard Lang GmbH (acquired by DCC plc), and Nihon Kohden Corporation (Japan).

In 2016, 3M Company (US) dominated the market. The company has a broad product portfolio, which serves as an important factor for its future growth. 3M has a strong presence in the US, Europe, and Asia Pacific. The company is also focusing on enhancing its presence in the Latin American region, through corporate restructuring (owing to the high-growth opportunities offered by emerging Latin American countries).

Medtronic plc (Ireland) held the second position in the market. The company’s leading position can be attributed to its product portfolio and its brand identity in the market. Medtronic focuses on adopting organic as well as inorganic strategies such as product launches, expansions, and acquisitions to strengthen its market position. In January 2015, the company acquired Covidien plc (Ireland). This acquisition helped Medtronic to expand its product portfolio and share in the market.

Ambu (US) is one of the major companies after 3M Company and Medtronic plc in the market. The company offers a wide range of diagnostic medical electrodes. Ambu also has its product development centers in Denmark, China, Malaysia, and the US, which primarily focuses on updating and improving existing products and production methods.

Related Reports:

Medical Electrodes Market by Usability (Disposable, Reuse), Technology (Dry Electrodes, Wet, Needle), Diagnostic Procedures (ECG, EEG, EMG, EOG, ERG), Application (Cardio, Neurophysiology, Sleep Disorders, Intraoperative) - Global Forecast to 2022

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