Growth in this market can primarily be attributed to factors such as the rapidly increasing aging population, technological advancement, favoring government regulations towards monitoring devices and increasing incidences of cardiovascular diseases.
The ECG Cable and ECG Lead wires Market witnessed considerable growth during the last decade and is expected to grow at a CAGR of 5.7% between 2016 and 2021 to reach USD 1.75 Billion by 2021.
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Market Segmentation: –
The ECG cables and ECG leadwires market is segmented based on material, usability, leadwires by machine type, patient care setting and regions. Based on ECG cables and ECG leadwires by materials, the market is split into three, namely, TPU (Thermoplastic polyurethane), TPE (Thermoplastic elastomer) and others (Silicone, PVC). Based on usability, the ECG leadwires market is divided into reusable and disposable. Based on leadwires by type, the ECG leadwires market is segmented into single-lead ECG leadwire, 3-lead ECG leadwire, 5- lead ECG leadwire, 6- lead ECG leadwire, 12- lead ECG leadwire and other leadwires (15- and 18- lead ECG leadwires).
In 2015, the reusable segment accounted for the largest share in the global ECG cables market. And based on materials, the TPE (Thermoplastic elastomer) segment accounted for the largest share in the global ECG cables and ECG leadwires market.
Similarly, based on patient care setting, the ECG leadwires market is subsegmented into hospitals, clinics, long term care facilities and ambulatory and homecare.
Key Market Drivers: –
1 Rising Geriatric Population
2 Increasing Prevalence of Cardiovascular Diseases
3 Technological Advancements
4 Implementation of Government Regulations Supporting the Use of Monitoring Devices
Regional Analysis: –
North America held the largest share in the ECG cables market owing to the growing aged population and demand for remote monitoring ECG devices.
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Top key Players: –
The market players namely, 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), held major share of the ECG cables and ECG leadwires market.