According to Fact.MR, a supplier of market research and competitive intelligence, the global market for cables and leads for medical equipment is expected to grow at a CAGR of over 4% from 2021 to 2031.
Connecting components in medical devices, particularly cardiovascular devices, include cables and leads. Additionally, pacemakers are connected to the heart’s valves through leads. A slowdown in the economy had an impact on the healthcare sector because of growing capital costs, a drop in patient volume, and difficult reimbursement conditions, but the market for medical devices, particularly cardiovascular devices, was mostly unaffected.
Key Takeaways from Market Study
- Global cables and leads for medical equipment market to top US$ 6 Bn by 2031.
- ECG equipment projected to reach around US$ 2.7 Bn by 2031.
- Pacemakers projected to record around 2.9% CAGR over the next 10 years.
- ECG equipment projected to reach around US$ 2 Bn by 2031.
- Market in Japan to record 1.2% CAGR over the forecast period 2021- 2031.
- China forecast to reach projected market size above US$ 1.3 Bn by 2031.
- Market in Canada projected to expand at above 3% CAGR over next 10 years.
“Increasing adoption of newer and innovative monitoring devices in medical & healthcare applications expected to boost demand for cables and leads for medical equipment,” says a Fact.MR analyst.
Rising environmental concerns have increased focus on the creation of ecofriendly cables and leads for medical equipment.
- Nikomed USA recently introduced BioWire, a non-metallic disposable and universal lead wire system that is recyclable. These leads are easily disposable and can be incinerated without the need for extra processing or preparation.
Increasing number of players are now focused on providing products with better efficiency and lower risk rates.