Global ECG Cables And Lead Wires Market Share Is Expected To Grow At A CAGR Of 7.45% By 2028

07-Sep-2022 | Facts and Factors

According to Facts and Factors, the global ECG cables and lead wires market size was worth around USD 2 billion in 2021 and is predicted to grow to around USD 3.2 billion by 2028 with a compound annual growth rate (CAGR) of roughly 7.45% between 2022 and 2028.

ECG cables and lead wires are essential tools for electrocardiography which is the process of conducting an electrocardiogram (ECG), the recording and monitoring of the heart's electrical activity. ECG is a graphical representation of voltage versus the heart’s electrical activity time. The reports thus obtained are used to detect heart conditions and the underlying reasons in case of deviance from normal heart functions. The machines are standard equipment located in all operating rooms as well as ambulatory services thus making them a critical part of primary to higher grade medical care and an absolute necessity. An electrocardiogram in case of heart-related problems may help diagnose or detect blocked or narrowed arteries in the heart, irregular heart rhythms, the working condition of heart-related devices like pacemakers, or the treatment results of heart diseases along with other reasons. Some of the signs that may persuade medical personnel to recommend an ECG include chest pain, rapid pulse, heart palpitations, and weakness.

Browse the full “ECG Cables And Lead Wires Market Size, Share, Growth Analysis Report By Patient Care Setting (Ambulatory, Hospitals, Clinics, and Home Care), By Material (Thermoplastic Elastomer, and Thermoplastic Polyurethane), By Type (3-Lead, 5-lead, 6-Lead, and 12-Lead), and By Region - Global and Regional Industry Insights, Overview, Comprehensive Analysis, Trends, Statistical Research, Market Intelligence, Historical Data and Forecast 2022 – 2028" report at https://www.fnfresearch.com/ecg-cables-and-lead-wires-market

The global market cap generated significant revenue because of Covid-19 owing to the rampant and increased rate of hospital admissions as well as the high rise in the number of ambulatory services. For patients who were severely infected and could not be treated with normal medications, ECG was conducted regularly to cross-examine the heart’s conditions along with other tests.

The global ECG cables and lead wires market is projected to witness a growing trend owing to the increasing presence of players providing ECG devices that can be used in the homecare setting. Patients who suffer from chronic diseases, or conditions like diabetes, and respiratory conditions require regular ECG coupled with other tests. The emergence of ECG devices for personal use can help such patients better care for themselves and reduce the overall cost associated with medical treatment. The global market is also projected to grow because of increasing US Food and Drugs Administration (FDA) approval, and strategic actions undertaken by players to increase their universal footprint. Some of the actions include collaboration with domestic or international firms alongside mergers and acquisitions. The healthcare sector is witnessing a surge in technological advancements in ECG devices and related services which in turn is helping the global market expansion

The high cost and environmental impact of disposable accessories may restrict the global market growth while the rising number of high-quality manufacturers of ECG cables and lead wires may provide expansion opportunities. The global market is projected to face some challenges owing to the increasing number of unauthorized players.

The global ECG cables and lead wires market is segmented based on the patient care setting, type, material, and region.

Based on the patient care setting, the global market segments are ambulatory, hospitals, clinics, and home care. The global market is dominated by the hospital segment owing to the high-standard services provided by these facilities. The chances of hospitals using substandard products are extremely low since both public and private hospitals have the necessary funds. These machines cost between USD 120 to USD 7845, depending on the quality and the load-carrying capacity.

Based on type, the global market is divided into 3-lead, 5-lead, 6-lead, and 12-lead. The highest revenue was observed in the 12-lead segment since it can provide relatively better results than its counterparts. There is a presence of manufacturers of 15-lead, and 18-lead products as well but the most commonly used item is the 12-lead-segment.

Based on material, the global market is divided into thermoplastic elastomer and thermoplastic polyurethane. The global market, with a CAGR of 6.1%, is dominated by the thermoplastic elastomer segment owing to its capability of stretching up to limited measures and returning to its original form resulting in a better and longer life as compared to other materials.

The global ECG cables and lead wires market may generate the highest revenue in North America because of the well-established and extremely advanced ambulatory services along with the developed healthcare architecture. The ambulatory services in countries like the USA and Canada are equipped to handle extremely preliminary care and ECG machines are a mandate in all ambulances. As per the official US government website, the national healthcare expense grew by 9.5% in 2020 reaching a total value of USD 4.1 trillion.

Asia-Pacific is projected to grow significantly owing to the increasing healthcare investment in China, India, Japan, and South Korea amongst others. The regions are witnessing a surge in the population which has resulted in a higher and stronger demand for enhanced medical facilities. Asia-Pacific is also expected to benefit from being the hub for manufacturing units of businesses across the globe along with its own companies. These regions have high-space availability and the presence of skilled labor at cost-effective prices. The European market is growing alongside Germany, a region known for its healthcare insurance rate which is as high as 86%.

Report Scope

The global ECG cables and lead wires market is dominated by players like Cardinal Health Inc., 3M Company, Conmed Corporation, Drägerwerk Ag & Co. KgaA, Curbell Medical Products, Inc., B. Braun Melsungen AG, General Electric Company, SPACELABS HEALTHCARE, Koninklijke Philips N.V., and Schiller Americas Inc.

Recent Developments:

• In September 2020, B-Secure launched a developed kit used for creating ECG software and hardware. The kit is promised to help companies manufacture ECGs quickly. It will provide producers with access to the Heartkey Technology owned by B-secure which has also received US FDA approval
• In March 2021, scholars at the Yale Cardiovascular Data Science (CarDS) Lab developed an Artificial Intelligence model that can be used in clinical diagnosis. The program will use ECG images, with no required criteria on the quality, format, or other aspects of the image, and help diagnose conduction disorders or multiple heart rhythms.

The global ECG cables and lead wires market is segmented as follows:

By Patient Care Setting

• Ambulatory
• Hospitals
• Clinics
• Home Care

By Material

• Thermoplastic Elastomer
• Thermoplastic Polyurethane

By Type

• 3-Lead
• 5-lead
• 6-Lead

By Region

• North America
  • The U.S.
  • Canada
  • Mexico
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Nordic Countries
    • Denmark
    • Sweden
    • Norway
  • Benelux Union
    • Belgium
    • The Netherlands
    • Luxembourg
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • Australia
  • South Korea
  • Southeast Asia
    • Indonesia
    • Thailand
    • Malaysia
    • Singapore
    • Rest of Southeast Asia
  • Rest of Asia Pacific
• The Middle East & Africa
  • Saudi Arabia
  • UAE
  • Egypt
  • South Africa
  • Rest of the Middle East & Africa
• Latin America
  • Brazil
  • Argentina
  • Rest of Latin America

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