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)- Global Industry Analysis, Share, Growth, Regional Outlook and Forecasts, 2022-2030

The global ECG Cables and Lead Wires market size was estimated at USD 2.1 billion in 2022 and is expected to surpass around USD 3.0 billion by 2030 and poised to grow at a compound annual growth rate (CAGR) of 7.5% during the forecast period 2022 to 2030. Market growth is driven by factors such as rising geriatric population, increasing prevalence of cardiovascular diseases (CVD), technological advancements, and implementation of favorable government regulations in developed countries.

COVID-19 Impact on Global ECG Cables and Leadwires Market

The emergence of the COVID-19 pandemic has changed the delivery of medical care across the world. The increased pressure due to the growing rate of hospitalization of COVID-19 patients had led to the re-profiling of many hospitals and departments for treating patients with COVID-19. The COVID-19 outbreak led to curfews and lockdown worldwide, leading to many diagnostic and treatment procedures had been cancelled or postponed around the world, including as many as 2.3 million cancer surgeries according to one study. Clinical trials in oncology have also been affected, with about 170 studies suspended due to Covid-19, according to a report by Evaluate Vantage. It has mild-moderately affected the growth of the ECG cables and lead wires. As stringencies with respect to curfews and social distancing have become more liberal, the demand is expected to grow. However, a resurgence in demand of  ECG cables and leadwires is being seen as countries gradually ease restrictions on movement.

During the COVID 19 pandemic crisis, cardiac patients are more exposed to the virus. Major companies operating in ECG cables and lead wires markets have scaled up their operations to address the patient’s needs. The demand for the ECG cable and lead wires is rising, as there is a growing number of patients with cardiac diseases, heart strokes, and other chronic diseases after the pandemic. It is expected that this market is growing at a higher rate as the number of COVID 19 patients are suffering from cardiac arrests. 

Report Scope of the ECG Cables and Lead Wires Market

Market Dynamics

Driver: Increasing prevalence of cardiovascular diseases

The rising prevalence of CVD is creating a requirement for cardiac care centers that are well-equipped with affordable and advanced ECG devices to enable early and effective detection and treatment; the demand is gradually rising in lower and middle-income countries of Latin America, Asia-Pacific, and the Middle East and Africa. Moreover, healthcare systems in developed countries across North America and Europe are witnessing a greater requirement of affordable remote monitoring systems due to the rising healthcare expenditure. These factors are expected to increase the demand for ECG devices and in turn drive the market for ECG cables and lead wires in the coming years.

Opportunity: Untapped emerging markets

Developing countries such as China, India, Brazil, Russia, and South Africa are potential high-growth markets for ECG cables and lead wires. China and India are home to more than one-third of the global population. Rapid urbanization, changing diets, sedentary lifestyles, and use of tobacco and alcohol have increased the prevalence of cardiovascular diseases (CVDs) in these countries. Moreover, these countries have a high prevalence of hypertension, dyslipidemia, diabetes, and obesity, which are major risk factors for CVDs. Considering these factors, the demand for diagnostic ECG devices and consumables is expected to increase in emerging markets such as China and India in the coming years.

Restraint: High cost of disposable cables

Reusable ECG cables have a high risk of cross-contamination by resistant bacteria, resulting in hospital-acquired infections in patients. In a point prevalence study that included 231,459 patients across 947 hospitals concluded that about 19.5% of patients in ICU had at least one Healthcare-Associated Infections (HAI). In American hospitals alone, the Centers for Disease Control (CDC) estimates that Healthcare-Associated Infections (HAIs) account for an estimated 1.7 million infections and 99,000 associated deaths each year. CDC shows that, US hospitals saw significant increases in HAIs in 2020, largely because of the COVID-19 pandemic. The use of disposable cables over reusable cables is an effective way of reducing the incidence of HAIs. However, the higher overall cost associated with the use of disposable cables is a major factor limiting their adoption among end users.

Challenge: Disruptive innovations

The pressing need for fast, accurate, easy to use, and affordable monitoring of cardiac health has resulted in the development of disruptive high-tech innovative cardiac care solutions. The miniaturization of computing technology has provided the market with digital handheld ECG devices smaller than a tablet. These devices have updated software that offers cloud-based storage functionalities. Furthermore, these devices can have an interface with a smartphone to record, store, and transfer ECG data wirelessly with the help of Bluetooth or Wi-Fi. For instance, the Kardia Mobile device by AliveCor, Inc. is smaller than a credit card and captures single-lead ECG events in 30 seconds. The device is compatible with Android and Apple devices and has a cloud-based storage system.

The ECG cables and lead wires market is consolidated. The top players in this market are Cardinal Health, Inc. (US), and 3M Company (US), Becton, Dickinson and Company (US), GE Healthcare (US) and Koninklijke Philips N.V. (Netherlands). These players lead the market because of their extensive product portfolios and wide geographic presence. There is a high degree of competition among the market players. Only major companies can afford high-capital investments as well as the high cost of R&D and manufacturing. This will prevent new entrants from entering this market.

In 2021,ECG lead wires and ECG cables segment accounted for the largest share of the ECG cables and lead wires market, by type segment, in 2021

ECG cables and lead wires market is segmented into ECG lead wires and ECG cables. The ECG lead wires market is divided into 12-lead ECG lead wires, 5- lead ECG lead wires, 3-lead ECG lead wires, 6-lead ECG lead wires, single-lead ECG lead wire, and other ECG lead wires (15- and 18-lead ECG lead wires). In 2020, the 12-lead ECG lead wires segment accounted for the largest share of the ECG lead wires and ECG cables market. The large share of this segment can be attributed to the wide usage by paramedics to diagnose acute myocardial infarction (AMI) and reduce treatment time.

In 2021, TPE (thermoplastic elastomer) segment accounted for the largest share in the market, by material.

ECG cables and lead wires market is segmented into TPE (thermoplastic elastomer), TPU (thermoplastic polyurethane), and other materials (silicone and PVC). In 2020, the TPE segment accounted for the largest share of the ECG cables and lead wires. The large share of this segment can be attributed to the increased consistency, durability, shore hardness, and flexibility offered compared to other materials.

In 2021, reusable cables and lead wires segment accounted for the largest share in the market, by usability.

ECG cables and lead wires market is segmented into reusable and disposable cables and lead wires. In 2020, the reusable cables and lead wires segment accounted for the largest share of the ECG cables and lead wires market. The huge share of this segment is mainly due to the low prices associated with the adoption of reusable cables and lead wires and because these types are majorly adopted in the developing regions.

In 2021, hospitals & ICUs segment accounted for the largest share in the market, by patient care setting.”

Based on patient care setting, the ECG cables and lead wires market is segmented hospitals & ICUs, long-term care facilities, clinics, and ambulatory and home care centers. In 2021, hospitals & ICUs accounted for a larger share of the ECG cables and lead wires market. The large share of this segment can be attributed to the growing burden of cardiovascular diseases, which in turn is increasing the need for quality cardiology care.

North America is the largest regional market for ECG cables and lead wires.

The global ECG cables and lead wires market is segmented into five major regions—North America, Europe, the Asia Pacific, Latin America, and the Middle East & Africa. In 2021, North America accounted for the largest share of the ECG cables and lead wires market. The North American ECG cables and lead wires market growth can be attributed to the rapid increase in the aging population and rising cardiovascular disease rate as compared to other regions.

Some of the prominent players in the ECG Cables and Lead Wires Market include: 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).

Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2030. For this study, Nova one advisor, Inc. has segmented the global ECG Cables and Lead Wires market

By Type

• ECG Leadwires
• 12-lead ECG Leadwires
• 5-lead ECG Leadwires
• 3-lead ECG Leadwires
• 6-lead ECG Leadwires
• Single-lead ECG Leadwires
• Other Leadwires
• ECG Cables

By Material

• Thermoplastic Elastomer
• Thermoplastic Polyurethane
• Other Materials

By Usability

• Reusable Cables and Leadwires 
• Disposable Cables and Leadwires 

By Patient Care Setting

• Hospitals & ICUs              
• Long-term Care Facilities              
• Clinics   
• Ambulatory and Home Care Centers      

By Geography

North America

• U.S.
• Canada

Europe

• Germany
• France
• United Kingdom
• Rest of Europe

Asia Pacific

• China
• Japan
• India
• Southeast Asia
• Rest of Asia Pacific

Latin America

• Brazil
• Rest of Latin America

Middle East & Africa (MEA)

• GCC
• North Africa
• South Africa
• Rest of Middle East & Africa

Key Points Covered in ECG Cables and Lead Wires Market Study:

• Growth of ECG Cables and Lead Wires in 2022
• Market Estimates and Forecasts (2017-2030)
•  Brand Share and Market Share Analysis
•  Key Drivers and Restraints Shaping Market Growth
•  Segment-wise, Country-wise, and Region-wise Analysis
•  Competition Mapping and Benchmarking
•  Recommendation on Key Winning Strategies
•  COVID-19 Impact on Demand for ECG Cables and Lead Wires and How to Navigate
•  Key Product Innovations and Regulatory Climate
•  ECG Cables and Lead Wires Consumption Analysis
•  ECG Cables and Lead Wires Production Analysis
•  ECG Cables and Lead Wires and Management