Fact.MR – a market research and competitive intelligence provider, projects the global cables and leads for medical equipment market to have a positive outlook, and expand at a CAGR of above 4% across the 2021-2031 forecast period.
Cables and leads are connecting instruments used in medical devices, particularly cardiovascular devices. Leads are also used to connect pacemakers to the valves of the heart. Though an economic downturn affected the healthcare industry due to rising capital costs, declining patient volumes, and unfavorable reimbursement scenario, the medical device market, especially the cardiovascular device market, remained largely immune to the slowdown.
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On the other hand, manufacturers of economical, high-frequency cardiovascular accessories purchased on a daily basis by hospitals felt the pinch of the crisis, as hospitals and healthcare facilities trimmed down their capital expenditure. With rising concerns regarding infection control and transmission, medical centers are opting to use disposable medical equipment, increasing demand for cables and leads for medical equipment in the healthcare industry.
Key Takeaways from Market Study
- Global cables and leads for medical equipment market to top US$ 6 Bn by 2031.
- ECG equipment projected to reach around US$ 2.7 Bn by 2031.
- Pacemakers projected to record around 2.9% CAGR over the next 10 years.
- ECG equipment projected to reach around US$ 2 Bn by 2031.
- Market in Japan to record 1.2% CAGR over the forecast period 2021- 2031.
- China forecast to reach projected market size above US$ 1.3 Bn by 2031.
- Market in Canada projected to expand at above 3% CAGR over next 10 years.
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Key Segments in Cables and Leads for Medical Equipment Industry Research
Product
- Cables
- Leads
Application
- Pacemakers
- Defibrillators
- EEG
- ECG
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Market Competition
Rising environmental concerns have increased focus on the creation of ecofriendly cables and leads for medical equipment.
- Nikomed USA recently introduced BioWire, a non-metallic disposable and universal lead wire system that is recyclable. These leads are easily disposable and can be incinerated without the need for extra processing or preparation.
Increasing number of players are now focused on providing products with better efficiency and lower risk rates.
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