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The global subdural electrodes market size is estimated to display strong growth by reaching USD 73.9 million by 2030. Fortune Business Insights™ in its report titled “Subdural Electrodes Market Size, Share & COVID-19 Impact Analysis, By Material (Platinum and Stainless Steel), By Type (Strip, Grid, Depth, and Others), By End-user (Hospitals & ASCs, Specialty Clinics, and Others), and Regional Forecast, 2023-2030” observes that the market size in 2022 stood at USD 32.4 million and is expected to reach USD 41.8 million in 2023. The market is expected to witness a strong CAGR of 8.5% during 2023-2030. Increasing number of epilepsy surgeries, and the prevalence of epilepsy are anticipated to boost the market growth rate during the forecast period. Rising adoption of intracranial monitoring is also supporting the market development. Superior procedural outcomes of subdural electrodes for locating seizure focus in epilepsy to drive adoption of the product.
Ad-Tech Medical Instrument Corporation Received Investment From Archimed
In October 2021, Ad-Tech Medical Instrument Corporation received investment from ArchiMed with the intention to expand its business operations in North America and Europe. Market players have been expanding its geographical presence in the various regions which is set to drive the competitive strike in the market.
Decline in the Number for Intracranial Monitoring Procedures Negatively Impacted the Market Growth
The COVID-19 pandemic negatively influenced market growth. In May 2022, as per an article in Neurology, the total number of procedures in 2020 for intracranial monitoring declined compared to 2019. This was attributed to the fact that Epilepsy Monitoring Units (EMUs) were closed for more than 15% of the year in 2020. Furthermore, the pandemic negatively impacted the sales as well. Moreover, after the restrictions were relaxed it led to the reopening of EMUs, there was a resurgence in the growth prospects which is expected to return to its pre-pandemic level at a steady rate from 2023.
Superior Procedural Outcomes Of Subdural Electrodes For Locating Seizure Focus In Epilepsy
Superior procedural outcomes of subdural electrodes for locating seizure focus in epilepsy is set to drive subdural electrodes market growth. Intracranial monitoring is preferred in case seizures can’t be controlled using anti-epileptic medications. Subdural electrodes allow visual mapping of seizure patterns and they allow a detailed mapping of several areas in the brain to accomplish superior procedural outcomes, eventually leading to greater adoption of intracranial monitoring and driving market growth. Various benefits offered such as minimal invasion, superior visualizations, and lower postoperative complications by the depth electrodes is also driving the market growth.
However, factors such as lack of awareness about surgical planning of epilepsy, social stigma about epilepsy, widespread misconceptions, and the reluctance by the government authorities to hamper the market growth.
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https://www.fortunebusinessinsights.com/industry-reports/subdural-electrode-market-101224
Cortec Gmbh Is The Second-Leading Market Player With Its Strong Presence In The Europe
CorTec GmbH is the second-leading market player owing to its strong presence in the Europe due to its growing focus on the expansion. Other market players such as Natus Medical Incorporated, PMT Corporation, Unique Medical Ltd, and inomed Medizintechnik GmbH have been focusing on collaborating with the healthcare institutions and also strengthening their supply chains. In June 2021, CorTec GmbH partnered with Blackrock Neurotech, LLC to provide a more comprehensive portfolio of solutions for various neurological disorders, including peripheral nerve application, and enter the U.S. market.
Key Industry Development
List of Key Companies Profiled in the Market Report:
Further Report Findings
Table of Segmentation
ATTRIBUTE | DETAILS |
Study Period | 2019-2030 |
Base Year | 2022 |
Estimated Year | 2023 |
Forecast Period | 2023-2030 |
Historical Period | 2019-2021 |
Growth Rate | CAGR of 8.5% from 2023-2030 |
Unit | Value (USD Million) |
Segmentation | By Material, Type, End-user, and Region |
By Material |
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By Type |
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By End-user |
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By Region |
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