September 14, 2022 12:39 ET | Source: Facts & Factors Facts & Factors
NEW YORK, USA, Sept. 14, 2022 (GLOBE NEWSWIRE) -- Facts and Factors has published a new research report titled “ECG Cables And Lead Wires Market Size, Share, Growth Analysis Report By Patient Care Setting (Ambulatory, Hospitals, Clinics, and Home Care), By Material (Thermoplastic Elastomer, and Thermoplastic Polyurethane), By Type (3-Lead, 5-lead, 6-Lead, and 12-Lead), and By Region - Global and Regional Industry Insights, Overview, Comprehensive Analysis, Trends, Statistical Research, Market Intelligence, Historical Data and Forecast 2022 – 2028” in its research database.
“According to the latest research study, the demand of global ECG Cables And Lead Wires Market size & share was valued at approximately USD 2 billion in 2021. The market is expected to grow above a CAGR of 7.45% and is anticipated to reach over USD 3.2 billion by 2028.”
The report analyses the ECG Cables and Lead Wires market’s drivers and restraints, as well as the impact they have on-demand throughout the projection period. In addition, the report examines global opportunities in the global ECG Cables and Lead Wires market.
ECG cables and lead wires are essential tools for electrocardiography which is the process of conducting an electrocardiogram (ECG), the recording and monitoring of the heart's electrical activity. ECG is a graphical representation of voltage versus the heart’s electrical activity time. The reports thus obtained are used to detect heart conditions and the underlying reasons in case of deviance from normal heart functions. The machines are standard equipment located in all operating rooms as well as ambulatory services thus making them a critical part of primary to higher grade medical care and an absolute necessity.
An electrocardiogram in case of heart-related problems may help diagnose or detect blocked or narrowed arteries in the heart, irregular heart rhythms, the working condition of heart-related devices like pacemakers, or the treatment results of heart diseases along with other reasons. Some of the signs that may persuade medical personnel to recommend an ECG include chest pain, rapid pulse, heart palpitations, and weakness.
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The report contains qualitative and quantitative research on the global ECG Cables and Lead Wires Market, as well as detailed insights and development strategies employed by the leading competitors. The report also provides an in-depth analysis of the market's main competitors, as well as information on their competitiveness. The research also identifies and analyses important business strategies used by these main market players, such as mergers and acquisitions (M&A), affiliations, collaborations, and contracts. The study examines, among other things, each company's global presence, competitors, service offers, and standards.
Some of the main players in the global ECG Cables and Lead Wires market include:
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The global market cap generated significant revenue because of Covid-19 owing to the rampant and increased rate of hospital admissions as well as the high rise in the number of ambulatory services. For patients who were severely infected and could not be treated with normal medications, ECG was conducted regularly to cross-examine the heart’s conditions along with other tests.
The global ECG cables and lead wires market is projected to witness a growing trend owing to the increasing presence of players providing ECG devices that can be used in the homecare setting. Patients who suffer from chronic diseases, or conditions like diabetes, and respiratory conditions require regular ECG coupled with other tests. The emergence of ECG devices for personal use can help such patient’s better care for themselves and reduce the overall cost associated with medical treatment. The global market is also projected to grow because of increasing US Food and Drugs Administration (FDA) approval, and strategic actions undertaken by players to increase their universal footprint. Some of the actions include collaboration with domestic or international firms alongside mergers and acquisitions. The healthcare sector is witnessing a surge in technological advancements in ECG devices and related services which in turn is helping the global market expansion
The high cost and environmental impact of disposable accessories may restrict the global market growth while the rising number of high-quality manufacturers of ECG cables and lead wires may provide expansion opportunities. The global market is projected to face some challenges owing to the increasing number of unauthorized players.
The total value of the global market was able to sustain its upward trend because of Covid-19. The unexpectedly high number of new patients entering the healthcare system was the primary force behind the expansion pattern that was seen throughout the years 2020 and 2021. When compared to the first wave of the virus, which was often moderate and, in the majority of instances, only required the administration of basic treatment, the second wave of the virus was more lethal and led to a higher number of critical hospital admissions.
Browse the full “ECG Cables And Lead Wires Market Size, Share, Growth Analysis Report By Patient Care Setting (Ambulatory, Hospitals, Clinics, and Home Care), By Material (Thermoplastic Elastomer, and Thermoplastic Polyurethane), By Type (3-Lead, 5-lead, 6-Lead, and 12-Lead), and By Region - Global and Regional Industry Insights, Overview, Comprehensive Analysis, Trends, Statistical Research, Market Intelligence, Historical Data and Forecast 2022 – 2028" report at https://www.fnfresearch.com/ecg-cables-and-lead-wires-market
The global ECG cables and lead wires market is segmented based on the patient care setting, type, material, and region.
Based on the patient care setting, the global market segments are ambulatory, hospitals, clinics, and home care. The global market is dominated by the hospital segment owing to the high-standard services provided by these facilities. The chances of hospitals using substandard products are extremely low since both public and private hospitals have the necessary funds. These machines cost between USD 120 to USD 7845, depending on the quality and the load-carrying capacity.
Based on type, the global market is divided into 3-lead, 5-lead, 6-lead, and 12-lead. The highest revenue was observed in the 12-lead segment since it can provide relatively better results than its counterparts. There is a presence of manufacturers of 15-lead, and 18-lead products as well but the most commonly used item is the 12-lead-segment.
Based on material, the global market is divided into thermoplastic elastomer and thermoplastic polyurethane. The global market, with a CAGR of 6.1%, is dominated by the thermoplastic elastomer segment owing to its capability of stretching up to limited measures and returning to its original form resulting in a better and longer life as compared to other materials.
The global ECG cables and lead wires market may generate the highest revenue in North America because of the well-established and extremely advanced ambulatory services along with the developed healthcare architecture. The ambulatory services in countries like the USA and Canada are equipped to handle extremely preliminary care and ECG machines are a mandate in all ambulances. As per the official US government website, the national healthcare expense grew by 9.5% in 2020 reaching a total value of USD 4.1 trillion.
Asia-Pacific is projected to grow significantly owing to the increasing healthcare investment in China, India, Japan, and South Korea amongst others. The regions are witnessing a surge in the population which has resulted in a higher and stronger demand for enhanced medical facilities. Asia-Pacific is also expected to benefit from being the hub for manufacturing units of businesses across the globe along with its own companies. These regions have high-space availability and the presence of skilled labor at cost-effective prices. The European market is growing alongside Germany, a region known for its healthcare insurance rate which is as high as 86%.
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The global ECG Cables And Lead Wires market is segmented as follows:
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