The global ECG cables and ECGleadwires market is highly consolidated. The market is dominated by 3M Company
(U.S.), Becton, Dickinson and Company (U.S.), Medtronic plc (Ireland),
Koninklijke Philips N.V. (The Netherlands) and Mindray Medical International
Limited (China), which together accounted for around three-fourths of the
global market in 2015. The dominance of the above companies can be attributed
to their wide geographic footprints, strong product portfolios, and large
established client bases.
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Cable and ECG Lead wires Market.
Koninklijke Philips N.V. (The
Netherlands) was the leading market player in the ECG cables and ECG leadwires
market in 2015. Philips group operates through four business segments, namely,
Healthcare, Consumer lifestyle, Lighting, and Innovation, Group and Services. The
company offers imaging systems; customer services; healthcare informatics,
solutions and services; and patient care and monitoring solutions. The company
operates in 25 countries
globally with 95
production sites and
sales and services outlets in approximately 100 countries located
in various regions of North America, Latin America, Europe, the Middle East and
Africa, and Asia.
Medtronic plc (Ireland) was the second-leading
market player in the ECG cables and ECG leadwires market in 2015. The company operates into four business units,
namely, cardiac and vascular group, minimally invasive therapies group, restorative
therapies group, and diabetes group. The acquisition of Covidien plc.
(Ireland), a medical devices company, in January 2015 has resulted in further
strengthening of the company’s position in the healthcare sector.
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Industry players adopted various
strategies to achieve growth in the ECG cables and ECG leadwires market;
however, the major strategy used between 2013 and 2016 to achieve growth globally
was mergers and acquisitions. In September 2015, Hill-Rom Holdings, Inc.
(U.S.), a medical technology company acquired Welch Allyn, Inc. The acquisition
was aimed to globally improve Hill-Rom’s patient care and to achieve greater
efficiency along with reduction in healthcare costs for the customers. Partnerships,
agreements, collaborations and expansions were the other strategies adopted by
the top players in the ECG cables and ECG leadwires market.
Growing incidences of
cardiovascular diseases and rising elderly population are major factor driving
the demand for ECG cables and ECG leadwires. The rising technological
advancements is also another factor driving the growth of the market as the
demand is specifically from the baby boomer population.
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