ECG Cables and Lead Wires Market is expected to grow USD 3.17 billion at a CAGR 6.8% during the forecast period 2022-2030
The global ECG cables and lead wires market size is projected to be worth USD 3.17 billion by 2030, registering a CAGR of 6.8% during the forecast period (2022 - 2030). Electrocardiogram cables and lead wires are used in the electrocardiogram, which is used in monitoring and diagnosing heart disease as well as in the electrocardiography procedure. These cables and lead wires have electrodes and transfer electrical pulses to test for electrode-related testing, ultrasound testing, and medical imaging. The factors that influence the market's growth are the increasing incidences of cardiovascular diseases and the technological advancements in ECG with cables and lead wires. Moreover, the untapped emerging market is further expected to provide lucrative market growth opportunities. However, the high risk of cross-contamination from ECG cables and lead wires further retards the market's growth.
The supply chain in the ECG cable and lead wire market is important to meeting customer demands. The COVID-19 had an impact on the healthcare industry, as many countries rely on other countries for raw materials and technology. Raw materials needed to manufacture ECG cable and lead wire—tinned copper, silvered copper, tinned/silvered tinsel, or carbon fiber—were in short supply during the initial first and second waves of COVID-19.
However, COVID-19 had influenced several cardiovascular diseases such as myocardial injury, arrhythmia, acute coronary syndrome, and venous thromboembolism. COVID-19 causes inflammation and a condition called "cytokine release syndrome." The excessive inflammation disrupted the cardiovascular system and further influenced several CVD diseases such as arrhythmia, blood clots, myocarditis, and pericarditis. Hence, the increasing number of cardiovascular diseases increases the demand for ECG, further fueling the overall market's growth.
ECG Cables Lead Wires Market Dynamics
Value Chain Analysis
The global ECG cables and lead wires market is projected to exhibit significant growth over the forecast period, which can be attributed to factors like the rising geriatric population and increasing cardiac surgical procedures. The value chain analysis for the market comprises five major components, which start with research and product development, followed by the manufacturing of the products, distribution, and sales, and end with post-marketing surveillance.
ECG Cables Lead Wires Market Segmental Outlook
12-Lead ECG Lead Wires
The 12 leadwires provide 12 views of the heart through consistently using the five electrodes. It provides outstanding information about several cardiac abnormalities. The abnormalities include cardiac arrhythmia and acute myocardial infarction. This 12-lead ECG have features such as sensitivity, specificity, and feasibility.
5-Lead ECG Lead Wires
The 5-lead ECG provides deep, detailed information and is mostly used for routine monitoring. This leadwire is used for continuous cardiac monitoring and is harmless if it stays on patients for a long time. This lead is important for fast and efficient admission.
3-Lead ECG Lead Wires
The 3-lead ECG monitors provide different views of the heart’s electrical activity. It is the oldest and simplest of all cardiac-monitoring lead systems. The primary aim of 3-leadwire is bipolar monitoring to track heart rate, detect R waves for synchronized cardioversion, and detect ventricular fibrillation.
6-Lead ECG Lead Wires
The 6-lead is an augmented lead and is used to detect several diseases. The diseases include atrial fibrillation (AFib), bradycardia, tachycardia, and arrhythmia. These are available in both disposable and reusable forms in the ECG cables and lead wires market.
The single-lead ECG wire is generally developed to reduce the risk of cross-contamination between patients and nurses. These are used for basic heart monitoring, checking for various arrhythmias, and for simple educational or research purposes. Single-lead ECGs are being used more and more in preclinical and clinical settings to detect and monitor a variety of rhythmic and conduction disorders.
Other types include 15- leadwire ECG and 18-leadwire ECG. The 15-lead contributes to faster and more accurate diagnosis in the ED, and the 18-lead is used in abnormalities, e.g., acute myocardial infarction.
Thermoplastic elastomers provide durability, flexibility, and provides hardness to the ECG cable and lead wire. This is the most widely used material to manufacture disposable lead wire because it provides features such as higher insulation and cost efficiency.
Thermoplastic polyurethane provides durability to the ECG cable and lead wires, provides accurate measurement in extreme environments. This material-based lead wire and cables are used in most rugged mechanical demands. This material-based lead wire and cable are comparable to thermoplastic elastomer and can be recycled.
Other materials include the following: silicon and polyvinyl chloride (PVC). The PVC-based ECG cable and lead wire are efficient, provide accurate results for diagnosis, and are also reusable.
Reusable lead wires and cables increase patient data transfer efficiency. These reusable lead wires are fast and easy to apply. Reusable lead wire and cables provide opportunities to increase the usability of products and provide a better user experience.
The disposable ECG cable and lead wires eliminate the risk of infection. The adoption of disposable ECG cables and lead wires decreases cross-contamination in acute healthcare facilities. Further, as per the research disposable are more beneficial in postoperative pediatric cardiac surgery patients.
By End User
Hospitals & Clinics
The electrocardiogram is a popular measurement tool to assess and diagnose CVDs. Furthermore, the hospitals & clinics use ECG equipment widely in order to fulfil the monitoring requirements during emergency situations. As the prevalence of CVDs has increased over the past two decades and the rising population with unhealthy eating habits may lead to severe CVDs, this further supports segment growth. Moreover, routine heart rate monitoring and immediate heartbeat detection are primary concerns in hospitals. As well as various computational settings in terms of processing frequencies and monitoring schemes further increases the demand of ECG, hence fuel segment growth.
Ambulatory Surgical Centers
Ambulatory surgical centers (ASCs) have emerged worldwide as high-quality, cost-effective alternatives to inpatient surgical services. There are several heart surgeries performed in ASC which require ECG 24x7. Cardiac surgeries such as coronary artery bypass grafting (CABG), heart valve repair or replacement, insertion of a pacemaker or an implantable cardioverter defibrillator (ICD), and a heart transplant are mostly performed in ASCs.
Other end users include home care settings and specialty cardiac centers. ECG is widely used at home care setting to track heart rhythm and heart rate specially in atrial fibrillation. Specialized cardiac centers include cardiac arrest receiving centers, and cardiac resuscitation centers.
ECG Cables Lead Wires Market Regional Insights
The ECG cables and lead wires market based on the region has been segmented into North America, Europe, Asia-Pacific, and the Rest of the World.
The increasing incidences of cardiovascular diseases and growth stratagems are attributed to fuel the market growth in the region.
The North America region is projected to show the highest CAGR during the forecast period. This is due to several factors, including the increasing prevalence of CVDs and strategic alliances among regional market players. In October 2022, as per the Centers for Disease Control and Prevention, 805,000 people have heart attacks in the US every year. Furthermore, the companies launch products to meet the needs of patients and physicians such as detailed rhythm information. For instance, in May 2019, AliveCor (US) received US Food and Drug Administration clearance for the KardiaMobile 6-leadwire personal electrocardiogram (ECG) device. Therefore, the increasing prevalence of CVDs and strategic initiatives support market growth in the region.
ECG Cables Lead Wires Market Competitive Outlook
Market players are improving business through planning and adopting new strategies to increase their market presence. Moreover, they are adopting several strategic initiatives with regard to ECG cables and lead wires, such as new product launches, contractual agreements, mergers, and acquisitions, increasing investments, and partnerships among players are aiding to expand the ECG cables and lead wires field across the globe.
HeartBeam, Inc. (US) is one of the key market players, founded in 2015. Its medical technology focusing on telemedicine solutions that enable the detection and monitoring of cardiac disease. It is specialized in heart health and cardiac diagnostic solutions. In September 2022, HeartBeam, Inc. launched a 12-lead electrocardiogram (ECG) patch monitor. This 12-lead ECG was developed to diagnose acute coronary syndrome (ACS) and cardiac arrhythmias.
List of companies covered in this report:
The study covers the existing short-term and long-term market effects. It helps decision-makers to draw up short-term and long-term business plans by region. The report covers major regions in North America, Europe, Asia-Pacific, and the rest of the world. The report analyses market drivers, restraints, opportunities, challenges, Porter's five forces, value chain, and impact of COVID-19 on the market.
Global ECG cables and lead wires market, By Type
Global ECG cables and lead wires market, By Material
Global ECG cables and lead wires market, By Usability
Global ECG cables and lead wires market, By End User
Global ECG cables and lead wires market, By Region
|Market Size||2030: USD 3.17 billion|
|Historical Data||2018 to 2020|
|Forecast Units||Value (USD Billion)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Type, Material, Usability, and End User|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World|
|Key Vendors||HeartBeam, Inc. (US), AliveCor (US), QT Medical (US), GE Healthcare (US), OSI Systems (US), Becton, Dickinson, and Company (US), Cardinal Healthcare (US), Boston Scientific Corporation (US), CONMED Corporation (US), Siemens Healthineers AG (Germany)|
|Key Market Opportunities||• Untapped emerging economies|
|Key Market Drivers||• Increasing incidences of cardiovascular diseases • Technological advancements in ECG with cables and lead wires|
The market size of ECG cables and lead wires is projected to be worth USD 3.17 billion by 2030, registering a CAGR of 6.8% during the forecast period (2022 - 2030)
HeartBeam, Inc. (US), AliveCor (US), QT Medical (US), GE Healthcare (US), OSI Systems (US), Becton, Dickinson, and Company (US), Cardinal Healthcare (US), Boston Scientific Corporation (US), CONMED Corporation (US), Siemens Healthineers AG (Germany) are the key players in the market of ECG Cables Lead Wires.
North America is predicted to lead the market of ECG Cables Lead Wires.
Increasing incidences of cardiovascular diseases and Technological advancements in ECG with cables and lead wires are the major driver in the market of ECG Cables Lead Wires
High risk of cross-contamination from ECG cables and lead wires may limit the growth of market