The global ECG cables and lead wires market is projected to reach USD 3.0 billion by 2026 from USD 2.1 billion in 2021, at a CAGR of 7.5% during the forecast period. Growth in this market is mainly driven by factors such as the rising geriatric population, an increasing prevalence of cardiovascular diseases (CVD), technological advancements, and the implementation of favorable government regulations in developed countries. However, the high cost of disposable cables is a major factor restraining the growth of this market.
The key players in this market are Cardinal Health, Inc. (US), 3M Company (US), Becton, Dickinson and Company (US), GE Healthcare (US), Koninklijke Philips N.V. (Netherlands), Abbott Laboratories (US), Boston Scientific Corporation (US), CONMED Corporation (US), OSI Systems, Inc. (US), Mindray Medical International Limited (China), Welch Allyn, Inc. (US), Curbell Medical Products, Inc. (US), Schiller AG (US), Siemens Healthineers AG (Germany), Dräger (Germany), Shanghai Berry Electronic Tech Co., Ltd (China), Unimed Medical Supplies Inc. (China), Amydi-med Electronic Technology Co., Ltd. (China), MedLink Electronics Tech Co. Ltd., (China), Sorimex (Poland), Nuova Gmbh (Germany), LUMED (Italy), UpnMed Equipment Co., Ltd.(China), Carlisle Medical Technologies (US), and LifeLine Medical, Inc. (US).
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In 2020, Cardinal Health, Inc. held the leading position in the ECG cables and lead wires market. Cardinal Health is one of the major players in this market. The company offers a broad product portfolio of ECG cables and lead wires and has a wide geographical presence with distribution channels in around 30 plus regions across the Americas, Asia, Australia, Europe, the Middle East, and Africa (EMEA). The company’s leading position in this market can be attributed to its strong sales and distribution network globally, enabling it to market its products in various countries
In 2020, Koninklijke Philips N.V. accounted for the second-largest share of the ECG cables and lead wires market. The company’s leading position can be attributed to its strong sales and distribution network. The company invests a significant amount of its revenue in R&D. The company adopts organic and inorganic growth strategies to increase its dominance in this market.
3M Company is one of the leading players in the global ECG cables and lead wires market. The company has a broad product portfolio, which serves as an important factor for its future growth. The company focuses on innovation to maintain its market share. 3M continued to invest in its key initiatives, including R&D aimed at disruptive innovation programs with the potential to create entirely new markets and disrupt existing markets. It invests a significant amount of its revenue in R&D activities.
ECG Cables and Lead Wires Market by Material (Thermoplastic Elastomer, TPU), Usability (Reusable, Disposable), Type (12-Lead, 6-Lead, 5-Lead, 3-Lead), Patient Care Setting (Hospitals, ICUs, Home Care, Ambulatory) & Region - Global Forecast to 2026
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