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ECG Cable and ECG Lead Wires - Global Market Trajectory & Analytics

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    Report

  • 580 Pages
  • March 2022
  • Region: Global
  • Global Industry Analysts, Inc
  • ID: 5302979

Global ECG Cable and ECG Lead Wires Market to Reach $2 Billion by 2026


ECG cables and ECG lead wires are the main equipment required in the electrocardiography (ECG), which is the procedure used to record the human heart's electric activity with the help of electrodes that are placed on the patient's skin. ECG cables and ECG lead wires are made using materials such as thermoplastic elastomer (TPE), thermoplastic polyurethane (TPUA), PVC or silicone. TPE has been the main material used due to its durability, strength, and compatibility in addition to providing safety and comfort to patients. Processing and recycling of the material is also possible, which supports its popularity and adoption. Hospital and ambulatory care, long-term care centers, clinics, and hospitals are the main users of ECG leadwires and ECG cables. With the prevalence of CVDs across the world, there is growing need for prevention, monitoring and treatment. This is expected to stimulate growth in the use of ECG devices, thus spurring demand for ECG lead wires and cables. In addition, rising concerns regarding healthcare and technological developments are also fueling market growth. The market is also driven by the rising demand for equipment for cardiac monitoring of cardiovascular conditions prevalent among the geriatric and the modern urban demographic. The emergence of ECG monitoring systems having wireless technology is expected to have a transformative effect on the market. Other factors that support growth include favorable regulatory policies and implementation of the regulations stipulated by governments for monitoring devices; emergence of innovative products; and investments in untapped markets.

Amid the COVID-19 crisis, the global market for ECG Cable and ECG Lead Wires estimated at US$1.6 Billion in the year 2022, is projected to reach a revised size of US$2 Billion by 2026, growing at a CAGR of 5.4% over the analysis period. Thermoplastic Elastomer, one of the segments analyzed in the report, is projected to grow at a 6% CAGR to reach US$974.2 Million by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Thermoplastic Polyurethane segment is readjusted to a revised 5.2% CAGR for the next 7-year period. This segment currently accounts for a 33.6% share of the global ECG Cable and ECG Lead Wires market. With respect to material type, Thermoplastic Elastomer (TPE) represents the most widely used material for disposable lead wires due to features, such as compatibility, stability, higher insulation, and cost efficiency. The lead wires made with TPU are resistant to fungus, heat, and acids. These benefits are expected to drive the demand for TPU-based lead wires.



The U.S. Market is Estimated at $651.9 Million in 2022, While China is Forecast to Reach $220.3 Million by 2026


The ECG Cable and ECG Lead Wires market in the U.S. is estimated at US$651.9 Million in the year 2022. The country currently accounts for a 40.7% share in the global market. China, the world's second largest economy, is forecast to reach an estimated market size of US$220.3 Million in the year 2026 trailing a CAGR of 7.6% through the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 4.2% and 4.7% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 4.4% CAGR while Rest of European market (as defined in the study) will reach US$101.6 Million by the end of the analysis period. North America is the largest regional market and growth is set to be driven by expanding geriatric popular and rising prevalence of cardiovascular diseases. The increasing geriatric population, improving disposable incomes, and rising cases of cardiovascular diseases are boosting growth in the Asia-Pacific region.

By Usability, Reusable Segment to Reach $1.1 Billion by 2026


The reusable segment leads the market due to its ease-of-use and the cost factor associated with the reusability of cables and lead wires. In the global Reusable (Usability) segment, USA, Canada, Japan, China and Europe will drive the 4.6% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$689.1 Million will reach a projected size of US$941.2 Million by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$104.3 Million by the year 2026, while Latin America will expand at a 5.9% CAGR through the analysis period.

Select Competitors (Total 97 Featured) -

  • 3M Company
  • B. Braun Melsungen AG
  • Cardinal Health Inc.
  • Conmed Corporation
  • Curbell Medical Products, Inc.
  • Dragerwerk Ag & Co. KgaA
  • General Electric Company
  • Koninklijke Philips N.V.
  • Mindray Medical International Limited
  • SPACELABS HEALTHCARE
  • Schiller Americas Inc.

What's New for 2022?

  • Global competitiveness and key competitor percentage market shares
  • Market presence across multiple geographies - Strong/Active/Niche/Trivial
  • Online interactive peer-to-peer collaborative bespoke updates
  • Access to the publisher's digital archives and Research Platform
  • Complimentary updates for one year
Frequently Asked Questions about the Global Market for ECG Cable and ECG Lead Wires

What is the estimated value of the Global Market for ECG Cable and ECG Lead Wires?

The Global Market for ECG Cable and ECG Lead Wires was estimated to be valued at $1.6 Billion in 2022.

What is the growth rate of the Global Market for ECG Cable and ECG Lead Wires?

The growth rate of the Global Market for ECG Cable and ECG Lead Wires is 5.7%, with an estimated value of $2.0 Billion by 2026.

What is the forecasted size of the Global Market for ECG Cable and ECG Lead Wires?

The Global Market for ECG Cable and ECG Lead Wires is estimated to be worth $2.0 Billion by 2026.

Who are the key companies in the Global Market for ECG Cable and ECG Lead Wires?

Key companies in the Global Market for ECG Cable and ECG Lead Wires include 3M Company, B. Braun Melsungen AG, Cardinal Health, Conmed Corporation, Curbell Medical Products, Inc., Drägerwerk Ag & Co. KgaA, General Electric Company, Koninklijke Philips N.V. and SPACELABS HEALTHCARE.

Table of Contents

I. METHODOLOGY


II. EXECUTIVE SUMMARY

1. MARKET OVERVIEW

  • The Race Between the Virus & Vaccines Intensifies. Amidst this Chaotic Battle, Where is the World Economy Headed?
  • Progress on Vaccinations: Why Should Businesses Care?
  • Significance of Electrocardiography in COVID-19 Management to Support Market Growth
  • ECG Machines Help Doctors Identify COVID-19 Patients at Risk of Heart Complications
  • Competitive Scenario
  • EXHIBIT 1: ECG Cable and ECG Lead Wires - Global Key Competitors Percentage Market Share in 2022 (E)
  • Competitive Market Presence - Strong/Active/Niche/Trivial for 68 Players Worldwide in 2022 (E)
  • Global Market Prospects & Outlook
  • With IMF’s Upward Revision of Global GDP Forecasts, Most Companies are Bullish about an Economic Comeback Despite a Continuing Pandemic
  • EXHIBIT 2: A Strong Yet Exceedingly Patchy & Uncertain Recovery Shaped by New Variants Comes Into Play: World Economic Growth Projections (Real GDP, Annual % Change) for 2020 through 2022
  • EXHIBIT 3: Easing Unemployment Levels in 2021 Although Moderate Will Infuse Hope for Industries Reliant on Consumer Discretionary Incomes: Global Number of Unemployed People (In Million) for Years 2019, 2020, 2021, and 2022
  • Disposable ECG Cables and Lead Wires to Boost Long-term Growth
  • Developing Economies to Spearhead Long-term Growth
  • Electrocardiography: A Prelude
  • An Introduction to ECG Cable and ECG Lead Wires
  • Electrocardiographic (ECG) Leads
  • Electrodes and Leads in ECGs
  • Lead Fail Detection
  • Recent Market Activity

2. FOCUS ON SELECT PLAYERS

3. MARKET TRENDS & DRIVERS

  • Healthy Growth of Electrocardiography Systems Market Promises Growth for ECG Cables and Lead Wires Market
  • EXHIBIT 4: Global ECG Device Market Size (in US$ Billion) for the Years 2020, 2022, 2024 & 2026
  • Growing Prevalence of Cardiovascular Diseases to Fuel Demand for ECG Cables and Lead Wires
  • Types of Cardiovascular Diseases (CVDs)
  • EXHIBIT 5: Global Annual Medical Cost of CVD in US$ Billion: 2010, 2015, 2020, 2025 and 2030
  • EXHIBIT 6: Hypertension Prevalence (%) Worldwide by Region in Male and Females Aged 25+ Years
  • EXHIBIT 7: Fatalities by Heart Conditions: Estimated Percentage Breakdown for Cardiovascular Disease, Ischemic Heart Disease, Stroke, and Others
  • Expanding Elderly Population Susceptible to Cardiovascular Diseases Drive Need for ECG Cable and Lead Wires
  • EXHIBIT 8: Global Aging Population Statistics for the 65+ Age Group in Million by Geographic Region for the Years 2019, 2025, 2035 and 2050
  • EXHIBIT 9: Elderly Population (65+ Years) as a % of Total Population by Developed, Less Developed and Least Developed Regions: 2019 & 2030
  • EXHIBIT 10: Life Expectancy at Age 60 and 80 Years: (2010-2015), (2020-2025) & (2045-2050)
  • Risk of Coronary Artery Disease in Obesity Presents Prospects for ECG Monitoring Devices & Accessories
  • EXHIBIT 11: Obesity Prevalence Rate (%) in Select Countries for the Years 2019 and 2030P
  • EXHIBIT 12: Average Per Capita Annual Health Expenditure (In US$) due to Obesity
  • High Threat of Cross-Contamination Amidst COVID-19 Outbreak Turns Focus onto Disposable ECG Cables and Lead Wires
  • EXHIBIT 13: Leading Nosocomial Infections in the US: Percentage Breakdown of Healthcare Cost by Infection Type
  • Disposable ECG Cables and Lead Wires Market: High Growth Prospects
  • COVID-19 Pandemic Drives Strong Preference for Disposable ECG Leads
  • Technological Advancements and Innovations to Boost Market Prospects
  • Study Proposes All-ECG with 12-Lead ECG Tracking
  • Listening to Heart and Measuring ECG Remotely
  • ISO/IEC Focus on Development of New Standard for ECG Medical Equipment
  • Wearable ECG Technology Threatens Conventional ECG Monitoring, Affecting Lead Wires and Cables Market
  • Consistent Rise in Healthcare Spending Worldwide to Drive Market Opportunities
  • EXHIBIT 14: World Healthcare Expenditure (In US$ Trillion) for the Years for 2017, 2019, 2021 and 2023
  • EXHIBIT 15: Elderly Healthcare Expenditure as a % of GDP in the US, Europe and Japan for 1970, 2010 and 2050
  • Key Challenges in ECG Technology and Design
  • ECG Lead Positioning Errors Disrupt Management and Stratification Efforts for Cardiac Patients

4. GLOBAL MARKET PERSPECTIVE


III. MARKET ANALYSIS

UNITED STATES

  • ECG Cable and ECG Lead Wires Market Presence - Strong/Active/Niche/Trivial - Key Competitors in the United States for 2022 (E)
  • Rising Incidence of Cardiovascular Diseases Supports Market Growth
  • EXHIBIT 16: Leading Causes of Mortality due to Cardiovascular Deaths in the US: Breakdown in % by Condition
  • Aging Population Enhances Risk of Cardiovascular Disease, Driving Market Growth
  • EXHIBIT 17: US Population by Age Group (in %) for 2018, 2030 & 2050
  • EXHIBIT 18: North American Aging Population (in Thousands) by Age Group: 1975-2050
  • Market Analytics

CANADA


JAPAN

CHINA

  • ECG Cable and ECG Lead Wires Market Presence - Strong/Active/Niche/Trivial - Key Competitors in China for 2022 (E)
  • Market Overview
  • Market Analytics

EUROPE

  • ECG Cable and ECG Lead Wires Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Europe for 2022 (E)
  • Market Overview
  • Market Analytics

FRANCE


GERMANY


ITALY


UNITED KINGDOM


SPAIN


RUSSIA


REST OF EUROPE

ASIA-PACIFIC

  • ECG Cable and ECG Lead Wires Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Asia-Pacific for 2022 (E)
  • Market Overview
  • Market Analytics

AUSTRALIA


INDIA


SOUTH KOREA


REST OF ASIA-PACIFIC


LATIN AMERICA


ARGENTINA


BRAZIL


MEXICO


REST OF LATIN AMERICA


MIDDLE EAST


IRAN


ISRAEL


SAUDI ARABIA


UNITED ARAB EMIRATES


REST OF MIDDLE EAST


AFRICA

IV. COMPETITION

  • Total Companies Profiled: 97

Companies Mentioned

A selection of companies mentioned in this report includes:

  • 3M Company
  • B. Braun Melsungen AG
  • Cardinal Health Inc.
  • Conmed Corporation
  • Curbell Medical Products, Inc.
  • Dragerwerk Ag & Co. KgaA
  • General Electric Company
  • Koninklijke Philips N.V.
  • Mindray Medical International Limited
  • SPACELABS HEALTHCARE
  • Schiller Americas Inc.