Global ECG cables and lead wires market is projected to witness a CAGR of 6.70% during the forecast period 2024-2031, growing from USD 2.51 billion in 2023 to USD 4.22 billion in 2031. The market has experienced significant growth in recent years and is expected to maintain a strong pace of expansion in the coming years. ECG leads, and wires are the primary parts of the ECG machines that connect the machine to the patient. Cables are larger than leads, and they connect the ECG machine to the electrodes on the patient’s chest. Meanwhile, the leads connect the electrodes to the ECG cable.
The lead wires and ECG cable market is anticipated to expand significantly in the upcoming years. The market has the potential to expand quickly due to factors such as the growing geriatric population, technology advancements, and increasing awareness of the importance of routine health checkups. Companies in the industry and healthcare practitioners are collaborating to provide the best diagnostic strategies for patients. Medical device companies are raising money and investing a sizable amount to provide advanced and efficient products. ECG cables and lead wires support the ECG machines, which support early diagnosis and identification of heart-related disorders. Furthermore, the increasing prevalence of cardiovascular diseases is expected to bolster the segment’s growth. According to the data issued by the World Health Organisation in October 2022, the lifetime risk of stroke has increased by 50% over the previous 17 years, and 1 in 4 people are predicted to have a stroke at some point in their lives.
Increasing Demand for ECG Scans
Cardiovascular disorders (CVDs) include heart attacks, arrhythmias, and heart failure. CVDs are the primary cause of morbidity and death globally. Due to the increased prevalence of these conditions, accurate diagnostic tools, such as electrocardiograms (ECGs), are essential for early intervention and therapy planning. The world’s aging population highlights the need for diagnostic electrocardiogram (ECG) devices to adequately monitor and manage heart health due to their increased susceptibility to cardiovascular problems. As people age, they become more vulnerable to heart-related disorders, thus advanced diagnostic devices that can provide accurate readings and avert serious problems will always be required. According to an estimate made by the WHO, cardiovascular diseases (CVDs) are the leading cause of death worldwide, accounting for 17.9 million deaths yearly. Rheumatic heart disease, coronary heart disease, and cerebrovascular disease are among the disorders accounting for significant number of mortalities globally. Over four out of every five deaths from CVD are caused by heart attacks and strokes.
Due to continuous technological advancements in devices such as pacemakers, holter monitors, event monitors, ECG equipment, they become more accurate, user-friendly, and more connected in terms of accessibility. With the addition of mobile applications, cloud-based data storage, and wireless monitoring, the use of ECG devices in-home care and clinical settings is growing. These advancements improve overall patient outcomes by allowing physicians to monitor patients’ heart conditions and facilitate prompt action remotely. Furthermore, emerging countries are investing significantly in healthcare infrastructure, such as diagnostic centers. The expansion of infrastructure makes it easier to acquire healthcare services and creates opportunities for the widespread usage of different types of equipment. These advancements are particularly significant as they reduce healthcare inequalities and improve the quality of care for marginalized people in areas where access to state-of-the-art medical technology was previously limited.
For instance, Philips introduced the first full-service, 12-lead ECG at-home solution for use in decentralized clinical trials in 2022. The clinical-grade solution combines data readings like clinical, site-based ECGs with Philips’ industry-leading cloud-based data collecting and analysis services, is the company’s most advanced patient-centric ECG offering in the cardiac monitoring portfolio. The most recent addition to Philips’ line of digitally enabled monitoring products supports decentralized clinical trials and fosters innovation throughout the care continuum.
Increasing Awareness of Preventive Healthcare to Lead to Market Growth
The lead wires and ECG cables market is growing rapidly due to increased awareness of preventative healthcare. Due to rising health consciousness and proactive approaches towards risk management, preventive healthcare practices have become more popular worldwide. The emphasis on prevention over treatment has caused a spike in the market for diagnostic equipment such as electrocardiographs (ECG), which has fueled the expansion of related goods such as lead wires and ECG cables. Education programs, awareness efforts, and technology developments have increased public awareness about the significance of identifying cardiac diseases as early as possible. As a result, people are more likely to get regular ECG exams as part of regular physicals or in response to conditions, which increases demand.
Furthermore, healthcare providers are placing a greater emphasis on preventative measures to reduce the burden of cardiovascular diseases and their associated problems. As a result, ECG monitoring equipment is more widely used in various healthcare settings, such as clinics, hospitals, and home care settings. Market expansion is further accelerated by the requirement of dependable and superior lead wires and ECG cables to guarantee accurate readings and seamless connectivity. In conclusion, the market for lead wires and ECG cables is expanding at a fast pace due to rising awareness of preventative healthcare and the development of diagnostic technology. Researchers need to keep an eye on these trends to predict future needs and customize their innovations to match the changing requirements of patients and healthcare systems.
Healthians, a diagnostics firm that provides home health checks, launched the ‘Phlebo March’ on April 7, 2024, in all its operational cities, such as Delhi NCR, Mumbai, Bangalore, Hyderabad, Chennai, Ahmedabad, Chandigarh, Jaipur, Lucknow, Pune, and Kolkata, to raise awareness about preventive healthcare. “Healthier Together” is the new marketing campaign that Healthians have launched increasing awareness related to preventive health. The program highlights healthcare professionals’ dedication to increasing access to preventative healthcare and encouraging healthier lives through teamwork.
TPU-Based Wires and Leads Segment to Dominate the Market Share
Due to their excellent qualities and advantages, lead wires and ECG cables made of thermoplastic polyurethane (TPU) have been a major factor in the market’s growth. Compared to more conventional materials, such as PVC or rubber, TPU has several advantages. TPU is incredibly strong and flexible, enabling repetitive bending and movement without deterioration or breaking. It ensures uninterrupted and dependable signal transmission in medical situations where patients may move or change postures during ECG monitoring. Also, TPU is resilient to various external elements, including chemicals, oils, and moisture. Due to its increased durability, lead and ECG cables require less maintenance, reducing healthcare organizations’ total expenses. Additionally, patients will have a more pleasant and lightweight experience with TPU-based cables and leads, improving their ECG procedure experience. TPU is soft, so there is less chance of skin irritation or pain, which makes it appropriate for prolonged wear.
Moreover, TPU materials are easily sterilizable, guaranteeing adherence to strict healthcare regulations and lowering the possibility of patient cross-contamination. Hence, their use propels market expansion as TPU-based ECG cables and lead wires offer better performance, durability, patient comfort, and regulatory compliance. Additional advancements in TPU formulations and manufacturing techniques would accelerate this market segment’s growth for lead wires and ECG cables. For instance, a new technique to construct dry electrodes for ECG monitoring has been devised by AZO NANO, which will ensure greater efficacy due to the use of TPU.
North America Dominates Global ECG Cables and Lead Wires Market Share
According to market trends for lead wires and ECG cables, North America holds the largest global market share. The region’s excellent healthcare infrastructure, high prevalence of cardiovascular disorders, and presence of key players drive the industry. The market in North America is further propelled by the growing use of advanced ECG machines and monitoring systems, which necessitate superior-quality lead wires and cables for precise measurements. ECG cables and lead wires market growth in the region is anticipated to be accelerated by the rise in demand for home healthcare services and the expansion of portable ECG equipment and wearable technology.
In 2022, the United States constituted the largest market in North America for lead wires and ECG cables. High healthcare spending, a well-established healthcare system, and a sizable population are the reasons behind the market growth. In 2022, reputed medical equipment manufacturer Boston Scientific, based in Massachusetts, USA, announced the acquisition of Baylis Medical, a Canadian company that makes medical equipment for cardiology and cancer. Boston Scientific paid USD 1.75 billion to complete the deal. The acquisition allowed Boston Scientific to expand its product offerings in cardiac technology.
Future Market Scenario (2024 – 2031F)
One of the main factors contributing to the anticipated growth of the ECG cables and lead wires market is the increasing prevalence of cardiovascular disorders amongst the general population. Given that heart attacks are the most common cardiovascular disease, a prompt diagnosis is necessary due to their alarming frequency. Players in this market are expanding at an unparalleled rate, introducing cost-effective and efficient diagnostic technologies. The government is enacting new laws and generating money to enhance the quality of healthcare services provided globally. For instance, the Department of Science and Technology (DST), government of India financed the establishment of the Medical Cobotics Centre, which was jointly opened by the technology hubs of IIT Delhi and IIIT Delhi. The facility has equipment which allows physicians, paramedics, and researchers to get simulation training. According to the Secretary of SERB and Senior Advisor of DST, GOI, MCC, this would create new avenues for the medical community to employ technology to improve treatment and provide high-end healthcare in India.
Report Scope
“ECG Cables and Lead Wires Market Assessment, Opportunities and Forecast, 2017-2031F”, is a comprehensive report by Markets and Data, providing in-depth analysis and qualitative and quantitative assessment of the current state of the global ECG cables and lead wires market, industry dynamics, and challenges. The report includes market size, segmental shares, growth trends, opportunities, and forecast between 2024 and 2031. Additionally, the report profiles the leading players in the industry, mentioning their respective market share, business models, competitive intelligence, etc.
Click Here:https://www.marketsandata.com/industry-reports/ecg-cables-and-lead-wires-market
About Us:
Markets and Data provides a comprehensive/ panoramic understanding of markets at global, regional, and country levels. Examine changing consumer preferences, emerging challenges, underlying trends, and growth prospects to accelerate your business strategies.
Contact
Mr. Vivek Gupta
5741 Cleveland street,
Suite 120, VA beach, VA, USA 23462
Tel: +1 (757) 343-3258
Email: info@marketsandata.com
Website: https://www.marketsandata.com