Disposable EEG Electrode Market Expected to Reach $542.2 Million by 2031—Allied Market Research

According to a new report published by Allied Market Research, titled, “Disposable EEG Electrode Market," The disposable EEG electrode market size was valued at $386.34 million in 2021, and is estimated to reach $542.2 million by 2031, growing at a CAGR of 3.5% from 2022 to 2031. An electroencephalogram (EEG) is a test that uses small metal discs (electrodes) connected to the scalp to detect electrical activity in the brain. Electrical impulses are used by brain cells to communicate, and they are active all the time, even while the patient is sleeping. Disposable EEG Electrodes are specifically designed to provide quality recordings and reduce cross contamination compared reusable electrode.

Factors that drive the growth of the disposable EEG electrode market size include rise in number of product launches and product approvals for disposable EEG electrode and increase in cases hospital acquired infection and rise in demand of disposable EEG electrode to avoid cross contamination.

In addition, disposable EEG electrode market trends includes the rise in the number of product launch and product approvals for disposable EEG electrode. For instance, in April 2020, Brain Scientific Inc. medical equipment manufacturing company, announced the launch of an online store to sell sanitized Food and Drug Administration (FDA)-cleared NeuroCap and NeuroEEG. This may increase the customer pool of the company. The disposable EEG electrode industry are also investing heavily in research and development to manufacture technologically advanced products.

Moreover, disposable EEG electrode market analysis include the rise in awareness regarding prevention of hospital acquired infection, increase in number of professionals who can conduct test for EEG, increase in incidence of brain tumor are anticipated to drive the demand for disposable EEG electrode and boost the growth of market. In addition, the market for disposable EEG electrode is expected to develop due to increase in clinics equipped with advanced technology and the rise in expenditure by government to develop healthcare infrastructure. In addition, rise in disposable income among the population of developing nations and increase in R&D activities, both contribute to the market's expansion.

By shape, the market is segmented into cup electrode, needle electrode and disk electrode. The cup electrode segment dominated the market in 2021 and is expected to continue this trend during the disposable EEG electrode market forecast period, owing to rise in number of product launch and products approvals for cup electrode and increase in number of companies who manufactures disposable EEG electrode.

By application, the market is bifurcated into diagnostic and therapeutic. The diagnostic segment dominated the market in 2021 and is expected to continue this trend during the forecast period, owing to increase in the prevalence of neurological disorders and brain diseases.

By end user, the market is divided into hospital and clinics, diagnostic centers, ambulatory surgical centers, and others. The hospitals and clinics segment dominated the market in 2021 and is expected to continue this trend during the forecast period, owing to rise in expenditure by government to develop healthcare infrastructure and increase in number of hospitals and clinics.

North America accounted for most of the global disposable EEG electrode market share in 2021 and is anticipated to remain dominant during the forecast period. This is attributed to rise in the number of product launch and product approval, increase in the number of disposable EEG electrode industry, and developed healthcare infrastructure. Asia-Pacific is anticipated to witness lucrative growth during the forecast period, owing to rise in expenditure by government organization to develop the healthcare sector and increase in awareness regarding cross contamination in hospital.

The COVID-19 outbreak is anticipated to have a positive impact on the growth of the global disposable EEG electrode market share. The availability of different types of disposable EEG electrode and rise in the number of product launch for disposable EEG electrode is anticipated to fuel the growth of market.

Key Findings of The Study

• By shape, the cup electrode segment was the highest contributor to the market in 2021.
• By application, the diagnostic segment dominated the market in 2021, and is expected to continue this trend during the forecast period.
• By end user, the hospitals and clinics segment dominated the market in 2021 and is expected to continue this trend during the forecast period.
• By region, North America garnered the largest revenue share in 2021, whereas Asia-Pacific is anticipated to grow at the highest CAGR during the forecast period.