HOME Research Insight Koninklijke Philips N.V. (The Netherlands), Medtronic plc (Ireland) and 3M Company (U.S.) Dominated the Global ECG cables and ECG leadwires Market in 2015



Koninklijke Philips N.V. (The Netherlands), Medtronic plc (Ireland) and 3M Company (U.S.) Dominated the Global ECG cables and ECG leadwires Market in 2015


The global ECG cables and ECG leadwires market is highly consolidated. The market is dominated by 3M Company (U.S.), Becton, Dickinson and Company (U.S.), Medtronic plc (Ireland), Koninklijke Philips N.V. (The Netherlands) and Mindray Medical International Limited (China), which together accounted for around three-fourths of the global market in 2015. The dominance of the above companies can be attributed to their wide geographic footprints, strong product portfolios, and large established client bases.

Koninklijke Philips N.V. (The Netherlands) was the leading market player in the ECG cables and ECG leadwires market in 2015. Philips group operates through four business segments, namely, Healthcare, Consumer lifestyle, Lighting, and Innovation, Group and Services. The company offers imaging systems; customer services; healthcare informatics, solutions and services; and patient care and monitoring solutions. The company operates in 25 countries globally with 95 production sites and sales and services outlets in approximately 100 countries located in various regions of North America, Latin America, Europe, the Middle East and Africa, and Asia.

Medtronic plc (Ireland) was the second-leading market player in the ECG cables and ECG leadwires market in 2015. The company operates into four business units, namely, cardiac and vascular group, minimally invasive therapies group, restorative therapies group, and diabetes group. The acquisition of Covidien plc. (Ireland), a medical devices company, in January 2015 has resulted in further strengthening of the companyís position in the healthcare sector.

Industry players adopted various strategies to achieve growth in the ECG cables and ECG leadwires market; however, the major strategy used between 2013 and 2016 to achieve growth globally was mergers and acquisitions. In September 2015, Hill-Rom Holdings, Inc. (U.S.), a medical technology company acquired Welch Allyn, Inc. The acquisition was aimed to globally improve Hill-Romís patient care and to achieve greater efficiency along with reduction in healthcare costs for the customers. Partnerships, agreements, collaborations and expansions were the other strategies adopted by the top players in the ECG cables and ECG leadwires market.

Growing incidences of cardiovascular diseases and rising elderly population are major factor driving the demand for ECG cables and ECG leadwires. The rising technological advancements is also another factor driving the growth of the market as the demand is specifically from the baby boomer population.

Related Reports:

ECG Cable and ECG Lead wires Market by Material (Thermoplastic Elastomer, TPU), Usability (Reusable, Disposable), ECG Leadwires by Machine Type (3 lead, 5 lead), Patient Care Setting (Long term care facilities, Home care) - Forecast to 2021

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