Foramen Ovale Electrodes Market Size, Share, Growth, And Industry Analysis, By Type (Contact Points 8 – 12, Contact Points Blow 8, and Contact Points Above 12), By Application (Pre-surgical Diagnosis and Scientific Research), Regional Forecast To 2031

Updated On: 08 April 2024

Foramen Ovale Electrodes Market Report Overview

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The global foramen ovale electrodes market size is expected to be USD 12 million in 2022 the market is expected to reach USD 14.964 million in 2030, exhibiting a Compound annual growth rate (CAGR) of 3.3% during the forecast period.

The accurate determination of the epileptogenic area is critical in surgical treatment. Although noninvasive tools are frequently used, invasive EEG observation is used on occasionally required. In the 1980s, foramen ovale electrodes were created in Zurich mainly for presurgical evaluation of patients undergoing selective amygdalohippocampectomy. Foramen electrodes are four- to six-contact wire electrodes inserted bilaterally into the ambient cistern through the foramen ovale. The electrodes are situated intracranially but extra cerebrally in this place. Even though ovale electrodes have been shown to accurately lateralize and distinguish the epileptogenic zone in mesial temporal lobe situations, the introduction of more sophisticated imaging modalities, particularly MRI, has lowered their use.

COVID-19 Impact: Interruption in Supply Chains to Decline Market Share

The recent coronavirus outbreak had a detrimental effect on the working of foramen ovale market. The serious disruptions in various supply-chain and manufacturing operations caused by different preventative lockdowns enacted by governments to combat disease spread result in massive financial losses for the market. As a consequence of the COVID-19 disease outbreak, the manufacturing of consumer goods was been stalled due to a logistics activities constraint and a global shortage of manpower.

The COVID-19 pandemic had resulted in the partial or complete shutdown of automation end-use industries. Furthermore, due to the shutdown implemented throughout various countries, domestic and international transportation was hindered in 2020, but some countries have begun vaccination drives, positively impacting the supply chain of FO electrodes market.

The aforementioned factors will have an impact on the market income trajectory over the forecast period. On the plus side, as COVID cases decline, the market share is expected to revitalize as personal regulatory authorities begin to unwind these enforced lockdowns. The suspended and forced to cancel operations will continue, and the market is expected to expand as a result. As a result, the industry will recover and grow following COVID.

Latest Trends

"Research and Development to Intensify Market Magnification"

Various research and developmental activities are taking place in the laboratory and on individuals to make the most effective utilization of the FO electrodes in the coming years. Foramen electrodes are utilized in numerous therapeutic vaccines to treat diseases.

Foramen Ovale Electrodes Market Segmentation

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• By Type Analysis

According to type, the market can be segmented into contact points 8 – 12, contact points blow 8, contact points above 12

Contact points 8 – 12 is the leading part of the type segment

• By Application Analysis

According to application, the market can be segmented into pre-surgical diagnosis, scientific research

Pre- surgical diagnosis is the leading part of the application segment

Driving Factors

"Increase in Seizure Cases to Boost Market Share "

Under general anesthesia, 26 foramen ovale electrodes were implanted in 13 patients. All patients had their foramen ovale successfully cannulated. To transfer the foramen, the syringe placement had to be adjusted slightly on 10 sides (38.4%). Adjustments are required six times (23.7%) to position the intracranial electrodes. Once (3.8%), an altogether fresh route had to be planned. Seizure recording yielded conclusive results in all clients (100%). Increment in seizure cases will expand the foramen ovale electrodes market share. Foramen ovale electrodes position can be scheduled "offline" and then carried out under general anesthesia. This is beneficial for people with disrupted anatomy and/or small foramina, as well as in patients who are unable to undergo the surgery under sedation. In order to improve patient safety, patient satisfaction, predictability, and reproducibility, the results are satisfactory. All patients' foramen ovale electrodes assisted further treatment decisions.

"Increased Utilization for Children to Aid Market Forwarding "

In adult people who have mesial temporal lobe epilepsy, ovale electrodes could indeed confine the epileptogenic zone (TLE). Foramen ovale elctrodes are secure to be used in children and can provide useful information on the structures of a mesial temporal lobe in the preoperative inquiry of pediatric TLE.

Restraining Factors

"Increment in Healthcare Variables to Deplete Market Advancement "

However, the cost of foramen electrodes to generate significant result is indeed very significant and needs constant maintenance, furthermore an increment in the healthcare variables has depleted the usage of ovale electrodes in the market. As a result, the foramen ovale electrodes market growth is stifled.

Foramen Ovale Electrodes Market Regional Insights

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"Main Players to Foster Market in Asia Pacific and North America "

The foramen ovale electrodes market in the Asia Pacific region is being driven by the increased need for to treat seizures as a result of busy customer lifestyles. The Asia Pacific real economy has the highest revenue percentage of the foramen ovale electrodes market among these regional markets. The existence of heavily packed countries in the region, including India and China, with countless people suffering from problems, contributes to the region's market growth. Amount invested by main players in the Asia Pacific market are yet another factor that drives growth in the region.

Because of developments in health centers, rising public awareness, and the significant presence of major players in the industry in the region, North America foramen ovale electrodes market size is forecast to grow at a significantly high rate over the forecast period.

Key Industry Players

"Key Players Focus on Partnerships to Gain a Competitive Advantage "

Prominent market players are making collaborative efforts by partnering with other companies to stay ahead of the competition. Many companies are also investing in new product launches to expand their product portfolio. Mergers and acquisitions are also among the key strategies used by players to expand their product portfolios.

The analyst provides a comprehensive picture of the market through the study, synthesis, and summarization of data from various sources, as well as an examination of important variables such as financial gain, sales prices, competition, and promotions. It identifies the key industry influencers and presents various market facets. The information provided is thorough, reliable, and the result of extensive primary and secondary research. The market report provides a comprehensive competitive landscape as well as an in-depth vendor evaluation methodology and analysis based on both qualitative and quantitative studies to accurately forecast market growth.

The reports cover important advances with in market, as well as inorganic and organic growth strategies. Various companies are concentrating on organic business expansion such as product announcements, product approvals, and other things like patents and events. Acquisitions, partnerships, and collaborations were among the inorganic growth strategies observed in the market. The above activities have paved the way for market participants to expand their business and customer base. With the growing demands for filter products in the international market, market participants in the market are expected to benefit from substantial growth opportunities in the near future.

List of Market Players Profiled

• Ad-Tech Medical (U.S.)
• Integra Life (U.S.)
• DIXI Medical (France)
• PMT Corporation (U.S.)
• Sinovation (U.S.)

Report Coverage

The industry's growth was significantly influenced by the tactics employed by market participants in recent years, such as extensions. The report provides details and information on the companies and their interactions with the market. The data is gathered and published through appropriate research, technological advancements, expansions, and expanding healthcare. Other criteria considered for this market are the firms that develop and provide new products, the areas in which they operate, mechanisation, innovative techniques, making the most money, and using their products to have a large social impact. This analysis examines the global and regional effects of the outbreak mostly on the market. The study describes the market share features, and market growth by type, industry, and customer sector.

This research profiles a report with extensive studies that take into description the firms that exist in the market affecting the forecasting period. With detailed studies done, it also offers a comprehensive analysis by inspecting the factors like segmentation, opportunities, industrial developments, trends, growth, size, share, restraints, etc. This analysis is subject to alteration if the key players and probable analysis of market dynamics change.