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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Opportunity: Untapped emerging markets
Developing countries such as China, India, Brazil,
Russia, and South Africa are potential high-growth markets for ECG cables and
lead wires. China and India are home to more than one-third of the global
population. Rapid urbanization, changing diets, sedentary lifestyles, and use
of tobacco and alcohol have increased the prevalence of cardiovascular diseases
(CVDs) in these countries. Moreover, these countries have a high prevalence of
hypertension, dyslipidemia, diabetes, and obesity, which are major risk factors
for CVDs. Considering these factors, the demand for diagnostic ECG devices and
consumables is expected to increase in emerging markets such as China and India
in the coming years.
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.
Recent Developments of ECG
Cable Industry
- In January 2022, Spacelabs Healthcare (US) launched
CardioPulse Go and CardioPulse Prime resting Electrocardiograph (ECG)
devices.
- In January 2022, Koninklijke Philips N.V. (Netherlands)
launched industry’s first full-service, at-home, 12-lead electrocardiogram
(ECG) solution for use in decentralized clinical trials.
- In April 2021, Abbott Laboratories (US) acquired St. Jude
Medical (US). This acquisition will enhance Abbott’s broad portfolio in
the cardiovascular devices segment.
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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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