ECG Cables and Lead Wires Market to Reach $3,071.7 Million by 2030, says P&S Intelligence

NEW YORK , June 2, 2022 /PRNewswire/ -- According to the market research study published by P&S Intelligence, in 2021, the global ECG cables and lead wires market accounted for $1,800 million revenue, which is set to reach $3,071.7 million, advancing at a 6.1% CAGR from 2021 to 2030. The growing elderly population and increasing cases of cardiovascular ailments are the key factors driving the market. Additionally, people suffering from anxiety or insomnia are suggested to get an ECG test, thus leading to the market expansion.

Geographical Analysis of ECG Cables and Lead Wires Market

• In the past, North America accounted for 45% revenue share in the market, and the U.S. held around 95% share in the continent. The substantial government investments in healthcare, as well as the presence of almost all major medical device enterprises, are contributing to the market growth in the country.
• The APAC market will grow at a CAGR of 6.8% in the coming years, owing to the escalating use of these products in developing nations, majorly because of the increasing healthcare spending. National governments are heavily investing in the healthcare sector to offer citizens the necessary screenings and treatments.

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Larger Market Share Belongs to Lead Wires

In 2021, lead wires accounted for 55% share in the ECG cables and lead wires market, with cables accounting for the remaining 45%. This is because lead wires are utilized to identify heart-related issues, and multiple wires are attached to the body at once. Among the various lead wire arrangements, the three- and five-lead arrangements, combined, accounted for over 70% revenue share.

Similarly, the demand for ECGs with 12 leads is expected to grow at a 7% CAGR between 2021 and 2030. This is because of 12-lead ECG's ability to detect life-threatening arrhythmias early, thus protecting patients from a major clinical event.

The need for single-lead ECGs is increasing too owing to the rising electrocardiography R&D expenditures.

Usability Insights of ECG Cables and Lead Wires Market

• The reusable category held over 85% share of the market in 2021, owing to the cost-effectiveness of reusable equipment and supplies for the healthcare sector, particularly in developing nations.
• The disposable category is expected to advance at a 7% ECG cables and lead wires market CAGR in the coming years. This will be due to healthcare practitioners' efforts to limit cross-contamination, which has led to the development of antibiotic-resistant bacteria, such as MRSA and VRSA.

Browse detailed report on ECG Cables and Lead Wires Market Size, SWOT Analysis and Key Business Strategies, Demand & Forecast, 2030

Largest End Users Are Hospitals and Clinics

Hospitals and clinics are the largest users of ECG cables and lead wires, owing to the shift of these healthcare facilities to disposable supplies. Furthermore, physicians are increasingly employing ECG machines in clinics to examine patients, to speed up the diagnostic process for CVDs and a variety of other ailments that ultimately affect the heart.

ECG Cables and Lead Wires Market Segmentation Analysis

By Product Type

• ECG Lead Wire
• ECG Cables

By Material Type

• Thermoplastic Elastomer
• Thermoplastic polyurethane

By Usability Type

• Reusable Cables and Lead wires
• Disposable Cables and Lead wires

By End User Type

• Hospitals and Clinics
• Ambulatory Facilities

Regional Outlook

• North America
• U.S.
• Canada
• Europe
• Germany
• U.K.
• Asia-Pacific  
• China
• Japan
• Latin America  
• Brazil
• Mexico
• Middle East and Africa
• South Africa

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About P&S Intelligence

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SOURCE P&S Intelligence