Patient Return Electrodes Market revenue to surpass USD 343 Million by 2035, says Research Nester
Major patient return electrode market players include Pfizer Inc., Medtronic Plc, Boston Scientific Corporation, Stryker Corporation, Olympus Corporation, Conmed Corporation, Utah Medical Products, Inc., KLS Martin GmbH & Co. KG, Arthrex GmbH and AtriCure Inc.,
New York, Aug. 24, 2023 (GLOBE NEWSWIRE) — The global patient return electrodes market size is poised to grow at a CAGR of over ~7% from 2023 to 2035. The market is anticipated to garner a revenue of USD 343 million by the end of 2035, up from a revenue of ~USD 180 million in the year 2022.owing to the increasing popularity of electrosurgery in various surgical procedures and the rising prevalence of chronic diseases such as cancer and heart disease, which require surgical treatments. Approximately 10 million deaths worldwide are predicted to be caused by cancer in 2020, according to the World Health Organization. An estimated 19.3 million new cancer cases and nearly 10.0 million cancer deaths occurred worldwide in 2020, according to the American Cancer Society. Electrosurgery is used to treat conditions such as cancer, benign tumors, and ulcers.
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It uses electrical currents to cut and coagulate tissue, which can be used to remove diseased tissue or stop bleeding. Additionally, technological advancements in electrosurgery, increasing investments in healthcare infrastructure, the growing number of research and development initiatives, and the emergence of various medical tourism centers around the world are also expected to drive the growth of the market.
Patient Return Electrodes Market: Key Takeaways
- Market in the North American region to see fastest growth in the coming years
- The segment of reusable patient return electrodes is expected to garner the greatest growth in the near future.
- Market in Asia Pacific to grow at a highest rate
Intensifying Acceptance of Minimally Invasive Surgery in Various Surgical Procedures to Boost Market Growth
The increasing popularity of minimally invasive surgery is expected to drive market growth in the coming years owing to its advantages, which include smaller incisions, shorter recovery times, and improved outcomes. Minimally invasive surgery requires the use of smaller incisions as well as medical imaging and other technologies. To control muscle contractions and movements during these surgeries, more precise electrical signals are required. To facilitate accurate signal delivery, patient return electrodes are essential to ensure the safe and effective delivery of electrical signals. Moreover, endometrial cancer is often treated with radiation therapy, which requires the use of patient return electrodes to ensure the accuracy of the treatment. As the rate of endometrial cancer increases, the demand for these electrodes is expected to increase. In the United States, researchers estimate more than 66,560 women were diagnosed with endometrial cancer in 2021, and 12,930 women died from uterine cancer in 2021. The treatment of endometrial cancer usually involves minimally invasive surgical procedures. These procedures require making small incisions for removing the cancerous tissue, which is less traumatic for the patient.
Patient Return Electrodes Market: Regional Overview
The market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa region.
A Large Patient Population to Drive Market Growth in North America
The patient return electrodes market in the North American region is estimated to garner the largest revenue by the end of 2035, owing to the presence of a large patient pool and the high adoption rate of advanced medical technologies in the region. Furthermore, the region is home to a large patient population suffering from various cardiovascular diseases such as coronary heart disease, peripheral arterial disease, aortic disease, and arrhythmias. According to the Centers for Disease Control and Prevention, in the United States, heart disease is the number one cause of death. In the United States, a person dies from a cardiovascular disease every 34 seconds, and 697,000 people died from a heart disease in 2020. Patient-return electrodes allow for the delivery of a controlled electrical impulse to the heart muscle, which helps to improve the coordination of the heart’s contractions and restore the normal rhythm of the heart. This helps ensure that the electrical current is distributed evenly over the patient’s chest, which helps reduce the risk of tissue damage. Moreover, the increased investment in healthcare infrastructure and the easy availability of patient return electrode products in the region are expected to further propel market growth in the region.
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Upsurge in the Number of Surgical Procedures to Drive Growth in the Asia-Pacific Region
The patient return electrodes market in the Asia Pacific region is estimated to garner the highest CAGR by the end of 2035 owing to the increasing awareness regarding the use of patient return electrodes in gynecology surgeries and the increasing number of gynecology-related diagnostic and therapeutic procedures being performed in the region. The growing number of surgical procedures in the region is also expected to drive market growth. It was observed that over 80 million surgical procedures were performed in Chinese hospitals in 2021. Return electrodes are used to help maintain a steady current flow during a surgical procedure. This helps to ensure that the patient’s body remains at a constant electrical potential and reduces the risk of tissue damage. As the population ages, the demand for surgery is increasing, particularly in developing countries. As a result, there has been an increase in the number of medical facilities offering these procedures, which in turn has increased the demand for patient return electrodes. Moreover, the rising demand for medical devices in the region, the growing awareness among the population about the safety implications of using medical devices, and the presence of a large patient population in the region are expected to drive the growth of the market.
Patient Return Electrodes, Segmentation by Type
The reusable patient return electrodes segment in patient return electrodes market is anticipated to hold the largest revenue by the end of 2035 as a result of their superior performance and durability, as well as their low cost and ease of use compared to other types of electrodes. Additionally, this type of electrode is becoming increasingly popular in monitoring applications owing to its ability to provide accurate readings. Furthermore, these electrodes are reusable, which helps reduce the cost of purchasing new electrodes and the amount of waste generated. They are also more comfortable for the patient, which is beneficial for long-term monitoring applications. Also, a new generation of reusable patient return electrodes, developed by leading manufacturers, is also predicted to drive growth in the segment. For instance, a newly developed reusable patient return electrode has been introduced by Ethicon, a Johnson & Johnson Medical Devices Company. The unique design of the product provides a soft surface that contours to the patient’s body to reduce pressure points and allow even weight distribution. The electrodes also feature a reusable design, which helps to reduce costs and waste.
Patient Return Electrodes, Segmentation by Patient Type
The geriatric segment in patient return electrodes market is anticipated to hold the largest revenue by the end of 2035, backed by the growing population of elderly people and the increasing prevalence of chronic diseases, which require the use of patient-return electrodes for monitoring vital signs. For instance, in India, two out of three seniors suffer from some type of chronic disease. And approximately 46% of the chronic disease burden is expected to be carried by the elderly by 2030. As the elderly population continues to grow, there is an increased need for healthcare solutions that can assist in monitoring vital signs. Patient return electrodes are one such solution and are used in conjunction with a variety of medical devices and equipment. Therefore, as the elderly population continues to grow, the demand for patient return electrodes is expected to increase, thereby contributing to increased revenue in the geriatric segment of the patient return electrodes market.
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Patient Return Electrodes, Segmentation by End User
- Ambulatory Surgical Centers
- Research Laboratories
- Academic Institutes
Few of the well-known industry leaders in the patient return electrodes market that are profiled by Research Nester are are Pfizer Inc., Medtronic Plc, Boston Scientific Corporation, Stryker Corporation, Olympus Corporation, Conmed Corporation, Utah Medical Products, Inc., KLS Martin GmbH & Co. KG, Arthrex GmbH and AtriCure Inc., and other key market players.
Recent Development in the Patient Return Electrodes Market
- The Stryker Company acquired Vocera Communications, Inc., a company specializing in care coordination and communication through digital technology. This acquisition presents significant opportunities for innovation and accelerating digital ambitions.
- A new implant production facility has been inaugurated by Karl Leibinger Medizintechnik GmbH & Co KG. The facility is equipped with the latest digital production technologies and will enable the company to produce customized medical implants in a cost-efficient way.
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