Market growth is driven by factors such as rising geriatric population, increasing prevalence of cardiovascular diseases (CVD), technological advancements, and implementation of favorable government regulations in developed countries.
The global ECG cables and lead wires market is projected to reach USD 3.0 billion by 2026 from USD 2.1 billion in 2021, at a CAGR of 7.5% during the forecast period.
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Market Segmentation:
ECG cables market is segmented into ECG lead wires and ECG cables. The ECG lead wires market is divided into 12-lead ECG lead wires, 5- lead ECG lead wires, 3-lead ECG lead wires, 6-lead ECG lead wires, single-lead ECG lead wire, and other ECG lead wires (15- and 18-lead ECG lead wires). In 2020, the 12-lead ECG lead wires segment accounted for the largest share of the ECG lead wires and ECG cables market. The large share of this segment can be attributed to the wide usage by paramedics to diagnose acute myocardial infarction (AMI) and reduce treatment time.
ECG cables and lead wires market is segmented into TPE (thermoplastic elastomer), TPU (thermoplastic polyurethane), and other materials (silicone and PVC). In 2020, the TPE segment accounted for the largest share of the ECG cables and lead wires. The large share of this segment can be attributed to the increased consistency, durability, shore hardness, and flexibility offered compared to other materials.
ECG cables market is segmented into reusable and disposable cables and lead wires. In 2020, the reusable cables and lead wires segment accounted for the largest share of the ECG cables and lead wires market. The huge share of this segment is mainly due to the low prices associated with the adoption of reusable cables and lead wires and because these types are majorly adopted in the developing regions.
Based on patient care setting, the lead wires market is segmented hospitals & ICUs, long-term care facilities, clinics, and ambulatory and home care centers. In 2020, hospitals & ICUs accounted for a larger share of the ECG cables and lead wires market. The large share of this segment can be attributed to the growing burden of cardiovascular diseases, which in turn is increasing the need for quality cardiology care.
Regional Analysis:
The global ECG cables market is segmented into five major regions—North America, Europe, the Asia Pacific, Latin America, and the Middle East & Africa. In 2020, North America accounted for the largest share of the market. The North American lead wires market growth can be attributed to the rapid increase in the aging population and rising cardiovascular disease rate as compared to other regions.
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Top Key Players:
The major players operating in this ECG Cables and Lead Wires Market are Cardinal Health, Inc. (US), 3M Company (US), Becton, Dickinson and Company (US), GE Healthcare (US), Koninklijke Philips N.V. (Netherlands), Abbott Laboratories (US), Boston Scientific Corporation (US), CONMED Corporation (US), OSI Systems, Inc. (US), Mindray Medical International Limited (China), Welch Allyn, Inc. (US), Curbell Medical Products, Inc. (US), Schiller AG (US), Siemens Healthineers AG (Germany), Dräger (Germany), Shanghai Berry Electronic Tech Co., Ltd (China), Unimed Medical Supplies Inc. (China), Amydi-med Electronic Technology Co., Ltd. (China), MedLink Electronics Tech Co. Ltd., (China), Sorimex (Poland), Nuova Gmbh (Germany), LUMED (Italy), UpnMed Equipment Co., Ltd.(China), Carlisle Medical Technologies (US), and LifeLine Medical, Inc. (US).
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