2020-2027 Analysis and Review Sphenoidal Electrodes Market

Sphenoidal Electrodes Market

Sphenoidal Electrodes Market By Product (Stainless Steel, Platinum and Silver/Silver Chloride), By End User (Hospitals & Clinics, Research Institutes and Others) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2020 – 2027

03-02-2020 REP-HC-5028 40 Tables 115 pages Format

The sphenoidal electrodes market was valued at USD30.8 Mn by 2019. According to the research citings brought forward by the World Health Organization (WHO), approximately 50 million people throughout the globe are suffering from epilepsy in which 80% of the patients belong to middle and low-income countries. The rising prevalence of temporal lobe epilepsy and technological advancement in the sphenoidal electrodes governs its market growth.

 Sphenoidal Electrodes Market

Sphenoidal electrodes are beneficial as they provide a less invasive method in locating the epileptic foci in order to perform the surgical treatment of epilepsy. Temporal lobe epilepsy is the most frequently occurring epilepsy occurring in the adult population. It is heterogeneous in nature and its epileptic foci are located to temporal lateral neocortex or mesial temporal structures. Sphenoidal electrodes are inserted under local anesthesia in a sterile environment employing a lumbar puncture needle below the zygomatic arch through the mandibular notch to record the temporal lobe epilepsy.

The major segments related to the sphenoidal electrodes market are:

By Product (2017–2027; US$ Mn)

Stainless Steel

Platinum

Silver/Silver Chloride

By End User (2017–2027; US$ Mn)

Hospitals & Clinics

Research Institutes

Others

Geography Segment(2017–2027; US$ Mn)

North America

United States
Canada

Europe

United Kingdom
Germany
Rest of Europe

Asia Pacific

China
Japan
Rest of Asia Pacific

Latin America (LATAM)

Brazil
Mexico
Rest of Latin America

Middle East and Africa (MEA)

GCC
Rest of MEA
 

Justification for study?

  • The intention of the study is to give a comprehensive outlook of the global sphenoidal electrodes market
  • The overall segmentation of the sphenoidal electrodes market, by product, end-user, and geography is minutely studied. Platinum and hospitals & clinics are dominating the product and end-user segments respectively
  • Rising prevalence of epilepsy and technological advancement in the electrodes employed for obtaining an electroencephalogram EEG of the neuronal activity together drive the sphenoidal electrodes market
  • Increasing public health awareness pertaining to conducting an electroencephalogram (EEG) to treat brain disorders further accelerated the sphenoidal electrodes market growth

Report gist?

  • The study of the global sphenoidal electrodes market includes qualitative analysis of factors such as drivers, restraints, and opportunities
  • The report covers qualitative and quantitative analysis of the overall market segmented on the basis of product and end-user and categorization of the same at geography level
  • This research report presents the analysis of each segment from 2017 to 2027 considering 2019 as the base year for the research. CAGR for each respective segments are calculated for the forecast period from 2020 to 2027
  • The study includes the profiles of major market players with a significant global and regional presence along with top company positioning

Significant customers?

  • This study is suitable for industry participants and stakeholders in the medical device manufacturers engaged in the manufacturing and marketing of sphenoidal electrodes gaining huge demand owing to the rising prevalence of epileptic disorders throughout the globe
  • The report will benefit neuropsychiatric surgeons engaged in conducting an electroencephalogram
  • Managers with financial institutions looking to publish recent and forecasted statistics pertaining to sphenoidal electrodes market
  • Financial institutions venture capitalist, analysts, investors, government organizations, policymakers, regulatory authorities, researchers, looking for insights into the market to determine future strategies

Segment Analysis

Stainless steel sphenoidal electrodes were used in the 70's and 80’s owing to its low cost and optimum compatibility to be used for conducting electroencephalogram of the temporal lobe epilepsy. Platinum is currently dominating the product segment for the sphenoidal electrodes market. The chief ergonomic features which made it to capture the market of stainless steel electrodes are low resistance conductance which increases EEG signal transfer and physical durability. They gained prominence in the last decade as it being non-ferromagnetic material makes it more compatible with MRI and good quality signals. The disadvantages associated with the platinum electrodes are that it is polarizable and relatively costly. The silver/silver chloride electrodes are anticipated to be the fastest-growing sphenoidal electrode owing to its inherent features such as low baseline drift, low polarization, and good signal quality while conducting an electroencephalogram (EEG).

Hospitals and clinics are spearheading the end-user segment for the sphenoidal electrodes market. The patients suffering from epileptic seizures are kept under medical supervision in neuropsychiatric hospitals and clinics. A frequent electroencephalogram is conducted to decide the type of epileptic seizures and decide the treatment regimen or surgical procedure accordingly. Research institutes are gaining huge demand due to huge financial funding approved by the government healthcare agencies to provide sphenoidal electrodes to perform accurate brain mapping and EEG for deciding the treatment guidelines for the different types of epileptic seizures occurring in patients worldwide.

North America is representing the largest market share in the geography segment for the sphenoidal electrodes market. The rising prevalence of epilepsy across all age groups primarily determines the sphenoidal electrodes market growth. According to the statistics brought forward by the Center for Disease Control and Prevention (CDC) approximately 1.2% of the United States population is suffering from epilepsy. The existence of well-developed neuropsychiatric hospitals and clinics further increases the demand for the sphenoidal electrodes market. In Europe the market growth is significantly determined by the growing incidence of temporal lobe epilepsy in the adult population. Strategic partnership between academic research institutes and medical device manufacturers in the development of sphenoidal electrodes further propels the market growth in the region. Asia Pacific is anticipated to register stable market growth during the forecast period on account of its rising public health awareness pertaining to conducting EEG of neurochemical activity to facilitate surgery pertaining to epilepsy.

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