United States, Rockville MD, Aug. 03, 2022 (GLOBE NEWSWIRE) -- The global ECG cable and ECG lead wires market currently accounts for a valuation of US$ 1.5 billion and is predicted to rise at a CAGR of 5.3% through 2026.
Increasing worldwide incidence of cardiovascular diseases has been recorded over the past decades and this trend is expected to be rife over the coming years as well. The world is also witnessing an increase in the geriatric population, which is expected to favor ECG cable and ECG lead wire demand. Technological advancements in electrocardiography are also projected to positively impact market potential on a global scale.
ECG cable and ECG lead wire manufacturers are expected to focus on mergers and acquisitions that will help them to expand their product portfolios and increase their market presence on a global scale.
- In April 2021, Abbott Laboratories a leading healthcare organization, announced the acquisition of St. Jude Medical, which helped Abbott expand its cardiovascular product portfolio and strengthen its stance in the global market.
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Key Takeaways from Market Study
- Currently, the global ECG cable and ECG lead wires market stands at a US$ 1.5 billion valuation.
- From 2022 to 2026, the global market is set to progress at a CAGR of 5.3%.
- By 2026, the market for ECG cables and ECG lead wires is expected to reach US$ 2.1 billion.
- Increasing incidence of cardiovascular disorders, technological advancements in electrocardiography, rising geriatric population, and growing awareness about the treatment of cardiovascular disorders are factors that will supplement ECG cable and ECG lead wires market growth.
- However, high costs associated with disposable ECG cables and wires are anticipated to have a constraining effect on market growth to some extent.
- Demand for ECG cables and ECG lead wires is predicted to increase at a CAGR of 4.7% in Canada over the forecast period.
- The U.S. ECG cable and ECG lead wires market stands at a value of US$ 650 million in 2022.
- Sales of ECG cables and ECG lead wires in China are expected to reach US$ 219 million by 2026.
Winning Strategy
ECG cable and ECG lead wire manufacturers are expected to focus on the expansion of their businesses in unexplored markets to strengthen their global market presence. Companies are also anticipated to eye mergers, acquisitions, collaborations, and partnerships to further bolster their market presence and boost their revenue generation capacity.
This new ECG cable and ECG lead wires market study by analysts at Fact.MR, a market research and competitive intelligence provider, explores all strategies that companies could employ to enhance their business potential.
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Competitive Landscape
ECG cable and ECG lead wire manufacturers are expected to focus on the launch of new products to enhance their sales potential and uplift revenue generation capacity.
- In January 2022, Koninklijke Philips N.V. announced the launch of the industry’s first at-home full-service electrocardiogram solution for use in decentralized clinical trials.
ECG cable and ECG lead wire companies are also expected to focus on launching cost-effective disposable ECG cables to unlock the market’s full growth potential.
Segmentation of ECG Cable and ECG Lead Wires Industry Research
- By Usability :
- Disposable
- Reusable
- By Material :
- Thermoplastic Elastomers
- Thermoplastic Polyurethane
- Other Materials
- By Patient Care Setting :
- Hospitals
- Clinics
- Long-term Care Facilities
- Ambulatory
- Home Care
- By Region :
- North America
- Latin America
- Europe
- East Asia
- South Asia & Oceania
- MEA
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More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the global ECG cable and ECG lead wires market, presenting historical demand data (2017-2021) and forecast statistics for the period of 2022-2026.
The study divulges essential insights on the market on the basis of material (thermoplastic elastomers, thermoplastic polyurethane), usability (reusable, disposable), and patient care setting (hospitals, clinics, long-term care facilities, ambulatory, home care), across six major regions (North America, Latin America, Europe, East Asia, South Asia & Oceania, and the Middle East & Africa).
Fact.MR’s Domain Knowledge in Healthcare
Our healthcare consulting team guides organizations at each step of their business strategy by helping you understand how the latest influencers account for operational and strategic transformation in the healthcare sector. Our expertise in recognizing the challenges and trends impacting the global healthcare industry provides indispensable insights and support - encasing a strategic perspective that helps you identify critical issues and devise appropriate solutions.
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