The ECG cable and ECG lead wire market witnessed considerable growth during the last decade and is expected to grow at a compound annual growth rate of 5.7% between 2016 and 2021, reach $1.75 billion, according to a recent report from MarketsandMarkets.
Growth in this market can primarily be attributed to factors such as the rapidly increasing aging population, technological advancement, favoring government regulations toward monitoring devices, and increasing incidences of cardiovascular diseases.
The analysis segmented the market 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 thermoplastic polyurethane, thermoplastic elastomer (TPE), and others, including silicone and PVC. Based on usability, the 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 market. Based on materials, the TPE segment accounted for the largest share in the global market.
Similarly, based on patient care setting, the market is subsegmented into hospitals, clinics, long-term care facilities, and ambulatory and home-care. On the basis of geography, the market is segmented into North America, Europe, Asia-Pacific, and rest of the world.
North America held the largest market share, owing to the growing aged population and demand for remote monitoring ECG devices. On the other hand, the Asia-Pacific region is expected to witness the highest growth rate during the forecast period.
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