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

SAN FRANCISCO, Aug. 3, 2021 /PRNewswire/ -- A new market study published by Global Industry Analysts Inc., (GIA) the premier market research company, today released its report titled "ECG Cable and ECG Lead Wires - Global Market Trajectory & Analytics". The report presents fresh perspectives on opportunities and challenges in a significantly transformed post COVID-19 marketplace.

FACTS AT A GLANCE
Edition: 7; Released: May 2021
Executive Pool: 603
Companies: 68 - Players covered 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.; Mindray Medical International Limited; SPACELABS HEALTHCARE; Schiller Americas Inc. and Others.
Coverage: All major geographies and key segments
Segments: Material (Thermoplastic Elastomer, Thermoplastic Polyurethane, Other Materials); Usability (Reusable, Disposable); Patient Care Setting (Hospitals, Clinics, Long Term Care Facilities, Ambulatory & Home Care)
Geographies: World; USA; Canada; Japan; China; Europe; France; Germany; Italy; UK; Spain; Russia; Rest of Europe; Asia-Pacific; Australia; India; South Korea; Rest of Asia-Pacific; Latin America; Argentina; Brazil; Mexico; Rest of Latin America; Middle East; Iran; Israel; Saudi Arabia; UAE; Rest of Middle East; Africa.

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ABSTRACT-

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. 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$1.5 Billion in the year 2020, is projected to reach a revised size of US$2 Billion by 2026, growing at a CAGR of 5.2% over the analysis period. Thermoplastic Elastomer, one of the segments analyzed in the report, is projected to grow at a 5.7% CAGR to reach US$978.3 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% 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 $601.2 Million in 2021, While China is Forecast to Reach $216.9 Million by 2026
The ECG Cable and ECG Lead Wires market in the U.S. is estimated at US$601.2 Million in the year 2021. The country currently accounts for a 38.74% share in the global market. China, the world's second largest economy, is forecast to reach an estimated market size of US$216.9 Million in the year 2026 trailing a CAGR of 7.3% through the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 4% and 4.5% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 4.3% CAGR while Rest of European market (as defined in the study) will reach US$234 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 4.4% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$715 Million in the year 2020 will reach a projected size of US$966.3 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 5.7% CAGR through the analysis period. More

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Zak Ali
Director, Corporate Communications
Global Industry Analysts, Inc.
Phone: 1-408-528-9966
www.StrategyR.com 
Email: [email protected] 

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