Fact.MR’s cables and leads for medical equipment industry analysis shows that the global market was valued at US$ 4.5 Bn in 2020, and is projected to top US$ 6 Bn by 2031, expanding at a CAGR of 4%. Demand for ECG equipment is projected to reach a valuation of US$ 2.7 Bn by 2031.
Key Insights Covered in Cables and Leads for Medical Equipment Industry Survey:
- Market Estimates and Forecasts (2016-2031)
- Key Drivers and Restraints Shaping Market Growth
- Segment-wise, Country-wise, and Region-wise Analysis
- Competition Mapping and Benchmarking
- Brand Share and Market Share Analysis
- Key Product Innovations and Regulatory Climate
- COVID-19 Impact on Demand for Cables and Leads for Medical Equipment and How to Navigate
- Recommendation on Key Winning Strategies
Know More Details About the Report
Cables and Leads for Medical Equipment Demand Analysis from 2016-2020 Vs Future Market Outlook for 2021 to 2031
As per Fact.MR – a market research and competitive intelligence provider, over the last 5 years, the global market for cables and leads for medical equipment expanded at close to 3% CAGR. In 2020, the market was valued at around US$ 4.5 Bn.
The market is anticipated to grow due to advancements in technology. However, demand for defibrillators and electrocardiography (ECG) as well as for electroencephalography (EEG) and pacemakers is growing, which, in turn, would grow the market. Moreover, the search for developing newer and innovative medical devices is driving growth in the market.
Further, the market is expected to grow substantially due to increased healthcare expenditure and government healthcare programs such as Medicare and Medicaid.
There has been a boost in demand for cables and leads in the medical equipment market due to the advent of high-tech products in the medical industry. Hence, the market is expected to top a valuation of US$ 6 Bn by 2031.
How is Rising Incidence of Major Chronic Diseases Driving Demand for Cables and Leads for Medical Equipment?
Rising incidence of chronic diseases such as cancer, cardiac arrest, ophthalmic ailments, gynecological and neurological conditions intensify market growth. The deaths from such diseases have increased within the past 20 years. Consumption of medical cables and leads in elderly care centers has increased due to the rise in old age populations.
People aged 65 and above are expected to reach nearly 1.5 Bn by 2050 across the world. Moreover, decrease in immunity levels among adults has made them prone to cardiac, skeletal, and neurological disorders. Consequently, there will be an increase in demand for cables and leads in the market over the coming years.
Avail customized purchase options for your needs
How is Development of Wireless Devices Hampering Market Growth?
Increasing inventions for the development of wireless healthcare devices are likely to restrict demand for cables and leads. This, in turn, will pose a negative impact on the market.
Furthermore, even after constantly rising expenditure on healthcare, high cost of disposable cables and leads is hampering the full-fledged growth of the market.
Which Region Offers the Largest Opportunity for Cables and Leads for Medical Equipment Manufacturers?
Europe has a significant share in the market. Key drivers in Europe for this market are increased healthcare initiatives. For example, the European Health Information Initiative (EHII) looks to improve information that governs the healthcare policies in continent. It also promotes international cooperation and collaboration and exchanges expertise, harmonizing the healthcare industry's data collection process.
Such campaigns are propelling the growth of the market. Due to the healthcare industry's increased expenditure, the market for cables and leads is competitive. As a result, many leading players are investing heavily in research & development.
An Adaptive Approach to Modern-day Research Needs
What is the Demand Outlook for Cables and Leads for Medical Equipment in the U.S.?
The U.S. market was valued at around US$ 1.2 Bn in 2020. Rising health concerns coupled with increasing adoption of advanced technologies in the field of medicine for various applications have been stimulating market revenue in recent years.
Rising infrastructure development in healthcare will allow silicon wire and cable manufacturers to expand their penetration in the country with huge application of these wires, from medical equipment to patient care.
Growth witnessed in the region is attributable to increasing investments on research & development by both, governments and international companies. For instance, LOROM, an international player, has invested significantly in RandD in the U.S. to offer superior medical cables. Besides, the company is also focusing on the development of cables and leads that pose minimum or zero harm to the environment.
What are the Growth Opportunities for Cables and Leads for Medical Equipment Providers across China?
By 2031, China is expected to have a market of roughly US$ 1.3 Bn. Rapidly developing nations in Asia have witnessed high growth in this market. Most of the demand is from hospitals, as the number of hospitals had increased considerably in both, developed and developing countries.
In China, per capita spending on healthcare has increased nearly ten times over the last two decades. As a result, the number of hospitals has also increased drastically in the country. There is also increased spending on healthcare by middle-income countries.
Thus, there is vast demand for cables and leads in developing nations' medical equipment market.
Why is ECG Equipment Gaining Immense Popularity across the World?
ECG equipment comprises the largest application for cables and leads, while defibrillators constitute the fastest-growing application area.
An ageing global population and rising incidence of various cardiovascular diseases constitute a major driving force for cardiac defibrillators. In addition, the widespread availability of superior medical services for patients suffering from sudden cardiac arrest also contributes to the growing market for cardiac defibrillators, thereby propelling the demand for cables and leads.
Why is Demand for Cables and Leads for Medical Equipment High from Hospitals?
Owing to increasing investments by both, emerging and emerged economies in the healthcare sector, there has been a rise in the construction of hospitals and expansion of established ones.
For instance, in 2019, the number of hospitals in China reached 33,000, which was an increase of 1,866. Middle-income countries are also focusing on higher levels of spending. In these countries, health spending rose 6.3% a year between 2000 and 2017.
As a result, demand for medical devices is surging. This is leading to rising demand for cables and leads. Specialty clinics will also record a surge in demand during the forecast period.
How Has COVID-19 Impacted Sales for Cables and Leads for Medical Equipment?
Implementation of lockdowns and transport bans due to the COVID-19 pandemic has caused disruptions in all sectors, including the cables and leads for medical equipment market. Lack of raw materials has caused a slowdown in the production of medical equipment.
Many medical equipment must go through a series of pre- and post-market clinical investigations before receiving market authorization certificates. Due of the worldwide pandemic, cables and leads for medical equipment businesses are finding it harder to make educated judgments regarding their products, supply networks, and regulatory duties as the COVID-19 pandemic continues to spread.
Medical and healthcare departments are operating at full capacity to treat patients as the COVID-19 pandemic spreads. This has led to advancements in technologies and products being used in healthcare. 2021 is projected to be better, with the market regaining its original traction by 2022.
Have a report related query? Speak to us directly
- Players are now focusing on developing and creating cables and leads for medical equipment that are user-friendly and cost-efficient. They are using efforts to research & develop infection-preventing technical solutions.
- Increasing demand for disposable lead wires and cables has created more opportunities for players, which had led to the emergence of new manufacturers in the cables and leads for medical equipment space.
- Northwire developed new medical cable BioCompatic that saves customers time and money with the help of rapid response capabilities and innovative design.
Cables and Leads for Medical Equipment Market Report Scope
Historical Data Available for
|US$ Mn for Value & ‘000 Units for Volume|
Key Regions Covered
Key Countries Covered
Key Market Segments Covered
Key Companies Profiled
Available upon Request
Key Segments in Cables and Leads for Medical Equipment Industry Research
- Cables and Leads for Medical Equipment at Hospitals
- Cables and Leads for Medical Equipment at Ambulatory Care Centers
- Cables and Leads for Medical Equipment at Academic Research Institutes
- Cables and Leads for Medical Equipment at Specialty Clinics
Cables and Leads for Medical Equipment Market: Report Scope
A recent study by Fact.MR on the cables and leads for medical equipment market offers a 10-year forecast for 2021 to 2031. The study analyzes crucial trends that are currently determining the growth of the market. This report explicates recent market developments, strategic market growth analysis, market size, category market growths, product approvals, product launches, geographical expansions, and technological innovations associated with cables and leads for medical equipment.
The study also provides the dynamics responsible for influencing the future status of the market over the forecast period. A detailed assessment of value chain analysis, business execution, and supply chain analysis across regional markets has been covered in the report.
A list of prominent companies manufacturing cables and leads for medical equipment, along with their product portfolios, enhances the reliability of this comprehensive research study.
The study offers comprehensive analysis on diverse features, including production capacities, demand, product developments, revenue generation, and sales of cables and leads for medical equipment across the globe.
A comprehensive estimate on the market has been provided through an optimistic as well as a conservative scenario, taking into account the sales of cables and leads for medical equipment during the forecast period. Price point comparison by region with global average price is also considered in the study.
Key Questions Answered in Report
- Which are the most lucrative cables and leads for medical equipment market?
- Which factors will impact the growth of the market?
- How will changing trends impact the strategies of market players?
- How can market players capture the low-hanging opportunities across regions?
- Which companies are leading the cables and leads for medical equipment market?
- What are the winning strategies of stakeholders in the market?
Analysis on Market Size Evaluation
The market has been analyzed for each segment in terms of volume (‘000 Units) and value (US$ Mn).
Market estimates at global and regional levels for cables and leads for medical equipment are available in terms of “US$ Mn” for value and in “‘000 Units” for volume. A Y-o-Y growth contrast on prominent market segments, along with market attractiveness evaluation, has been incorporated in the report.
Furthermore, absolute dollar opportunity analysis of all the segments adds prominence to the report. Absolute dollar opportunity plays a crucial role in assessing the level of opportunity that a manufacturer/distributor can look to achieve, along with identifying potential resources, considering the sales and distribution perspective in the global cables and leads for medical equipment market.
Inspected Assessment on Regional Segments
Key sections have been elaborated in the report, which have helped deliver projections on regional markets. These chapters include regional macros (political, economic, and business environment outlook), which are expected to have a momentous influence on the growth of the cables and leads for medical equipment market during the forecast period.
Country-specific valuation on demand for cables and leads for medical equipment has been offered for each region, along with market scope estimates and forecasts, price index, and impact analysis of the dynamics of prominence in regions and countries. For all regional markets, Y-o-Y growth estimates have also been incorporated in the report.
Detailed breakup in terms of value and volume for emerging countries has also been included in the report.
The report sheds light on leading manufacturers of cables and leads for medical equipment, along with their detailed profiles. Essential and up-to-date data related to market performers who are principally engaged in offering cables and leads for medical equipment has been brought with the help of a detailed dashboard view. Market share analysis and comparison of prominent players provided in the report permits report readers to take preemptive steps in advancing their businesses.
Company profiles have been included in the report, which include essentials such as product portfolios and key strategies, along with all-inclusive SWOT analysis on each player. Company presence is mapped and presented through a matrix for all the prominent players, thus providing readers with actionable insights, which helps in thoughtfully presenting the market status, and predicting the competition level in the cables and leads for medical equipment market.
In Fact.MR’s study, a unique research methodology is utilized to conduct extensive research on the growth of cables and leads for medical equipment market, and reach conclusions on the future growth parameters. This research methodology is a combination of primary and secondary research, which helps analysts ensure the accuracy and reliability of the drawn conclusions.
Secondary resources referred to by analysts during the preparation of the market study include statistics from governmental organizations, trade journals, white papers, and internal and external proprietary databases. Analysts have interviewed senior managers, product portfolio managers, CEOs, VPs, marketing/product managers, and market intelligence managers, all of whom have contributed to the development of the research report as a primary resource.
- FAQs -
The global cables and leads for medical equipment market topped US$ 4.5 Bn in 2020, and is expected to reach a valuation of over US$ 6 Bn by 2031.
Fact.MR expects the cables and leads for medical equipment industry to expand more than 1.3X by 2031.
Demand for cables and leads for medical equipment expanded at 3% CAGR from 2016 to 2020.
Rising investments in healthcare facilities around the world is largely expected to shape market expansion.
Over the forecast period, ECG equipment is likely to be a major demand driver for cables and leads for medical equipment.
Top 5 manufacturers of cables and leads for medical equipment account for around 40% share in the market
Top 5 countries driving demand for cables and leads for medical equipment are the U.S., China, Japan, Canada, and Germany.
North America holds more than 1/3 of the total market share.
The European market for cables and leads for medical equipment is projected to expand at a CAGR of more than 2% during 2021 – 2031.
Need an Exclusive Report for your Unique Requirement?
- Related Reports -
- Our Clients -
- Evaluate How Fact.MR's Report Can Help. -
Is the market research conducted by Fact.MR?
Yes, the report has been compiled by expert analysts of Fact.MR, through a combination of primary and secondary research. To know more about how the research was conducted, you can speak to a research analyst.
What research methodology is followed by Fact.MR?
Fact.MR follows a methodology that encompasses the demand-side assessment of the market, and triangulates the same through a supply-side analysis. This methodology is based on the use of standard market structure, methods, and definitions.
What are the sources of secondary research?
Fact.MR conducts extensive secondary research through proprietary databases, paid databases, and information available in the public domain. We refer to industry associations, company press releases, annual reports, investor presentations, and research papers. More information about desk research is available upon request.
Who are the respondents for primary research?
Fact.MR speaks to stakeholders across the spectrum, including C-level executives, distributors, product manufacturers, and industry experts. For a full list of primary respondents, please reach out to us.
Is a sample of this report available for evaluation?
Yes, you can request a sample, and it will be sent to you through an email.