Subdural Electrodes Market Size to Surpass USD 73.9 Billion in 2030, exhibiting a CAGR of 8.5%
Fortune Business Insights
7 min read
Fortune Business Insights
As per the report by Fortune Business Insights, The subdural electrodes market size was valued at USD 32.4 million in 2022 and is projected to reach a valuation of USD 41.8 million in 2023. The market is expected to reach USD 73.9 million by 2030 with a CAGR 8.5% during the forecast period.
Pune, India, Aug. 01, 2023 (GLOBE NEWSWIRE) -- The subdural electrodesmarket size was valued at USD 32.4 million in 2022 and is projected to reach a valuation of USD 41.8 million in 2023. The market is expected to reach USD 73.9 million by 2030 with a CAGR 8.5% during the forecast period. Subdural electrodes are used for intracranial monitoring which is used for patients suffering with seizures and epileptic episodes. Increasing number of epilepsy surgeries and rising adoption of intracranial monitoring is set to drive the market growth. Increased expansion of pipeline studies into newer application areas is expected to propel market growth. Fortune Business Insights™ shares this information in its report titled “Subdural Electrodes Market, 2023-2030.”
October 2022: Synaptive Medical Inc. and Panaxium partnered for the incorporation of ultra-flexible iontronic electrocorticography (ECoG) platform of Panaxium into Synaptive’s Modus V robotic exoscope technology.
Key Takeaways:
Closure of Specialized Epilepsy Care Centers due to COVID-19 Led to Slower Market Growth
Increased Expansion of Pipeline Studies into Newer Application Areas to Determine Market Growth
Increasing Demand for Intracranial Monitoring as Surgical Planning for Epilepsy to Drive Market Growth
Superior Procedural Outcomes of Subdural Electrodes for Locating Seizure Focus in Epilepsy to Drive Adoption of the Product
Lack of Product Awareness in Emerging Countries to Impede Market Growth Prospects
Ad-Tech Medical Instrument Corporation, CorTec GmbH, and Integra LifeSciences Corporation to Lead by Providing Unique Technology
List of Key Players Profiled in the Market Report: -
CorTech GmbH (Germany)
Ad-Tech Medical Instrument Corporation (ArchiMed) (U.S.)
DIXI MEDICAL (Dixi) (France)
PMT Corporation (U.S.)
UNIQUE MEDICAL Co., LTD (Japan)
inomed Medizintechnik GmbH (Germany)
Integra LifeSciences Corporation (U.S.)
Natus Medical Incorporated (U.S.)
Click here to get the short-term and long-term impact of COVID-19 on this market.
Increasing Cases Of Intracranial Monitoring As Surgical Planning For The Epilepsy To Drive Market Growth
Increasing cases of intracranial monitoring as surgical planning for the epilepsy is anticipated to drive the subdural electrodes market growth. Prevalence of epilepsy is growing across the globe leading to the increasing number of surgeries. Increase in the number of level 3 and level 4 dedicated specialized epilepsy centers providing intracranial monitoring procedures. There has been a preference of epileptic patients from Anti-Epileptic Drugs (AEDs) to epilepsy surgery
However, lack of product awareness in the developing countries which is expected to hamper the market growth.
Segmentation
Platinum Segment To Dominate Due To Various Benefits
On the basis of material, the market is divided into platinum and stainless steel. The platinum segment is set to dominate the market due to various benefits such as better compatibility with the organic environment, low risk of infection among patients, and better electrical conductivity.
Depth Segment Held Dominant Share Owing to Its Various Uses
By type, the market is classified into strip, grid, depth, and others. Depth segment held the largest market share in 2022 due to comprehensive recording of deep brain structures, minimal invasion, improved patient comfort, and enhanced brain mapping.
Hospitals & ASCs Held Dominant Share Due To Majority Procedures Being Carried Out In These Settings
By end-user, the market is classified into hospitals & ASCs, specialty clinics, and others. Hospitals & ASCs segment held the largest market share in the year 2022 as majority of the implant procedures are carried out in these settings.
Based on the geography, the market is studies across into U.S., Europe, Japan, and the Rest of the World.
Report Coverage
The report provides a detailed analysis of the top segments and the latest trends in the market. It comprehensively discusses the driving and restraining factors and the impact of COVID-19 on the market. Additionally, it examines the regional developments and the strategies undertaken by the market's key players.
Regional Insights
U.S. Held the Largest Share Due To High Adoption Rate of These Devices
U.S. held the largest part in 2022 and is likely to lead the subdural electrodes market share due high adoption rate of these devices for intracranial monitoring in the U.S. The market is valued at USD 15 million in 2022 with rising prevalence of drug resistance amongst the patient population suffering with epilepsy.
Europe market is set be the second-largest regional market with improved healthcare facilities, higher adoption of depth electrodes, and higher awareness of intracranial monitoring.
Competitive Landscape
Market Players Have Been Focusing On The Introduction Of New Products And Focusing On Mergers And Acquisitions
The market is dominated by Ad-Tech Medical Instrument Corporation, CorTec GmbH, and Integra LifeSciences Corporation. The market players have been focusing on the introduction of new products and focusing on mergers and acquisitions. The companies have been offering a wide range of product offerings, strong distribution network, key industry developments, mergers, and strong brand presence.
Key Industry Developments – Mergers, Acquisition, and Partnerships
Key Industry Developments – New Product Launches, Approvals, and Recalls
Regulatory Scenario, By Key Countries/Region
Overview: Applications of Subdural Electrodes in Cranial Nerves & Others
Trends of Usage of Subdural Electrodes and Intracranial Monitoring in Epilepsy Surgery
Impact of COVID-19 on the Market
Global Subdural Electrodes Market Analysis, Insights and Forecast, 2019-2030
Market Analysis, Insights and Forecast – By Material
Platinum
Stainless Steel
Market Analysis, Insights and Forecast – By Type
Strip
Grid
Depth
Others
Market Analysis, Insights and Forecast – By End User
Hospitals & ASCs
Specialty Clinics
Others
Market Analysis, Insights and Forecast – By Region
U.S.
Europe
Japan
Rest of the World
U.S. Subdural Electrodes Market Analysis, Insights and Forecast, 2019-2030
Market Analysis, Insights and Forecast – By Material
Platinum
Stainless Steel
Market Analysis, Insights and Forecast – By Type
Strip
Grid
Depth
Others
Market Analysis, Insights and Forecast – By End User
Hospitals & ASCs
Specialty Clinics
Others
Europe Subdural Electrodes Market Analysis, Insights and Forecast, 2019-2030
Market Analysis, Insights and Forecast – By Material
Platinum
Stainless Steel
Market Analysis, Insights and Forecast – By Type
Strip
Grid
Depth
Others
Market Analysis, Insights and Forecast – By End User
Hospitals & ASCs
Specialty Clinics
Others
Japan Subdural Electrodes Market Analysis, Insights and Forecast, 2019-2030
Market Analysis, Insights and Forecast – By Material
Platinum
Stainless Steel
Market Analysis, Insights and Forecast – By Type
Strip
Grid
Depth
Others
Market Analysis, Insights and Forecast – By End User
Hospitals & ASCs
Specialty Clinics
Others
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FAQs
How big is the Subdural Electrodes Market?
The subdural electrodes market size was valued at USD 32.4 million in 2022 and is projected to reach a valuation of USD 41.8 million in 2023. The market is expected to reach USD 73.9 million by 2030 with a CAGR 8.5% during the forecast period.
What are the key factors driving theSubdural Electrodes Market?
The increasing demand for intracranial monitoring as surgical planning for epilepsy is the key driving factor of the global market.
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