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Global ECG Cables and ECG Lead Wires Market Size, Share, Trends, COVID-19 Impact & Growth, COVID-19 Impact Analysis Report - By Usability, Materials, Type, Patient Care Setting and Region (North America, Europe, Asia-Pacific, Latin America, Middle East and Africa) – Industry Forecast (2022 to 2027)

Published: January, 2022
ID: 2998
Pages: 180
Formats: report pdf report excel report power bi report ppt

Global ECG Cables and ECG Lead wires Market Size (2022 to 2027)

Globally, the ECG Cables and ECG Lead wires Market size is estimated to be growing at a CAGR of 6.60% from 2022 to 2027. The size of the market is predicted to be USD 2351 million by 2027 from USD 1708 million in 2022.

MARKET DRIVERS:

Y-O-Y growth in the incidence and prevalence of CVDs across the world, increasing the aging population, favoring regulatory policies in favor of electrocardiographs, and technological developments are majorly accelerating the growth of the global ECG cables and ECG lead wires market.

Expansion of the healthcare sector owing to government support in various countries is expected to create lucrative growth opportunities for key players in the ECG cables and ECG lead wires market during the forecast period across the world. The constantly rising incidence of cardiovascular diseases is anticipated to offer several growth opportunities for the stakeholders functioning in the ECG cables and ECG lead wires business.

The emergence of novel products owing to technological advancements is providing lucrative opportunities. It is foreseen to continue this trend over the outlook period offering more growth opportunities for the key players in this market. The vast potential for growth in the untapped emerging markets is assumed to provide lucrative opportunities for developing the global ECG cables and ECG lead wires market during the projection period. 

The favorable government regulations for monitoring devices are another major factor supposed to drive worldwide market growth. The augmenting focus of the leading players on strategic mergers and acquisitions at international and domestic levels, followed by investments in untapped markets, will provide growth opportunities for players in this market.

MARKET RESTRAINTS:

The high cost associated with the disposable cables and lead wires limits the Global ECG Cables and ECG Lead Wires Market growth. Untouched emerging markets will hamper the market boom. Turbulent inventions are also likely to restrict the ECG Cables and ECG Lead Wires Market in the forecast period.

Impact of COVID-19 on the global ECG Cables and ECG Lead Wires Market:

The coronavirus (COVID 19) has positively and negatively impacted the healthcare sector, affecting millions of human lives causing death. Patients with various chronic diseases are more exposed to the infection. The ECG cables and ECG Lead Wires market is significantly impacted by the COVID 19 pandemic. The supply chain of the raw material required to manufacture the cables and lead wires has been disrupted. Patients affected by the COVID 19 infection and doctors use these ECG cables and lead wires to examine the heart and other body parts in a critical situation. During the COVID 19 pandemic crisis, cardiac patients are more exposed to the virus. More efficient working ECG cables and lead wired are being manufactured by the companies to address the patient's needs. The demand for the ECG cable and lead wires is surging, as there is a mushrooming number of patients with cardiac diseases, heart strokes, and other chronic diseases. It is expected that the market shares are going to grow at a higher rate as the number of COVID 19 patients are suffering from cardiac arrests.

REPORT COVERAGE:

REPORT METRIC

DETAILS

Market Size Available

2021 to 2027

Base Year

2021

Forecast Period

2022 to 2027

Segments Covered

By Usability, Materials, Type, Patient Care Setting, and Region

Various Analyses Covered

Global, Regional & Country Level Analysis, Segment-Level Analysis, DROC, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview on Investment Opportunities

Regions Covered

North America, Europe, APAC, Latin America, Middle East & Africa

 

This research report on the global ECG cables and ECG lead wires market has been segmented and sub-segmented based on the usability, materials, type, patient care setting, and region.

ECG Cables and ECG Lead wires Market – By Usability:

  • Reusable 
  • Disposable              
  • Y-o-Y Growth Analysis, By Usability              
  • Market Attractiveness Analysis, By Usability              
  • Market Share Analysis, By Usability

Based on usability, the reusable segment is accounted for the largest share in the ECG cables and ECG lead wires market. The rising use of these products in the healthcare sector is leveling up the demand of the market. 

The disposable segment is the next leading in the ECG cables and ECG lead wires market globally.

ECG Cables and ECG Lead wires Market – By Materials:

  • TPE (Thermoplastic Elastomer)        
  • TPU (Thermoplastic Polyurethane) 
  • Others (Silicone, PVC)          
  • Y-o-Y Growth Analysis, By Materials             
  • Market Attractiveness Analysis, By Materials            
  • Market Share Analysis, By Materials

Based on the material, the TPE (Thermoplastic Elastomer) segment has the largest share in the market due to high obtainment as the materials have consistency, robustness, and endurance.             

ECG Cables and ECG Lead wires Market – By Type

  • Single-Lead ECG Leadwire  
  • 3-Lead ECG Leadwire          
  • 5-Lead ECG Leadwire          
  • 6- Lead ECG Leadwire         
  • 12- Lead ECG Leadwire      
  • Other ECG Leadwires          
  • Y-o-Y Growth Analysis, By Type      
  • Market Attractiveness Analysis, By Type      
  • Market Share Analysis, By Type      

Based on type, in 2019, the 12- lead ECG lead wire segment accounted for the largest share in the global ECG lead wires market.

ECG Cables and ECG Lead wires Market – By Patient Care Setting:

  • Hospitals  
  • Long Term Care Facilities   
  • Clinics      
  • Ambulatory and Homecare
  • Y-o-Y Growth Analysis, By Disease Indications          
  • Market Attractiveness Analysis, By Disease Indications         
  • Market Share Analysis, By Disease Indications

Based on the patient care setting, the hospital segment held the largest share due to the rising burden of cardiovascular diseases, which in turn is increasing the need for quality cardiology care.

ECG Cables and ECG Lead wires Market – By Region:

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • The Middle East and Africa

Geographically, North America dominated the Global ECG Cables and ECG Lead Wires Market in 2019, followed by Europe, Asia-pacific, and the Rest of the World. The growing aging population and demands for remote monitoring in ECG devices are among the driving factors of ECG cable and ECG lead wires business in North America.

However, the Asia-Pacific (APAC) region is presumed to witness the highest growth during the forecast period. The major contributors to the Asia Pacific market are India, China, Japan, South Korea, and others. The increasing investments in the healthcare sector due to the expanding population and rising consumer disposable income are majorly supporting the growth of the ECG cables and ECG lead wires market in the Asia Pacific area.

KEY MARKET PARTICIPANTS:

Some of the notable companies leading the Global ECG Cables and ECG Lead wires Market profiled in this report are 3M Company (U.S.), Becton Dickinson and Company (U.S.), Welch Allyn Inc. (U.S.), CONMED Corporation (U.S.), OSI Systems, SCHILLER AG (Switzerland), Medtronic plc (Ireland), Koninklijke Philips N.V. (The Netherlands), Mindray Medical International Limited (China) and Curbell Medical Products.

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