The global Disposable Lead Wires Market size was worth USD 545.0 million in 2015 and is anticipated to grow at CAGR of 6.3% in coming years. Escalating incidence of cardiovascular diseases resulted into growing adoption of ECG equipment and accessories thereby fueling the demand for ECG lead wires (LWs) during the forecast period. Reusable LWs can cause blood stream infections since these LWs are the prime source for proliferating antibiotic resistant bacteria in patients which resulted in shifting of preference toward disposable LWs over the forecast period.
In addition, growing geriatric population base is anticipated to broaden the consumer base as old age people are at higher risk for cardiovascular disorders, which is anticipated to trigger the demand for patient monitoring devices, which consists of disposable LWs in coming years.
Furthermore, escalating healthcare associated infections is a major contributing factor expected to drive the market growth. As per the study published in the white paper of SunTech Medical Inc., each year 2 million people acquired healthcare associated infections in the U.S. alone and the incidence is expected to grow over the forecast period. The previously mentioned elements are crediting toward the growth in coming years.
In 2015, Thermoplastic Elastomer (TPE) held the dominant share of the material segment. The substantial share is attributing to the associated advantages with its usage including compatibility, high cost efficiency, high insulation properties and stability. The segment is further expected to enlist exponential development during the forecast period as a result of rising adoption and applicability in various applications.
Thermoplastic polyurethanes (TPUs) are a type of TPEs and are long-chain linear polymers having no cross-links. The TPU material provides abrasion resistance, biocompatibility, biostability and low-temperature elasticity, which makes them the best material for manufacturing of LWs. The TPU-based LWs are usually resistant to abrasion, exhibit acid-base resistance, fungus and heat. The previously mentioned benefits with the utilization of TPUs are anticipated to boost the usage rates over the forecast period.
Other segments which include 6, 12, 15 and 18 lead of machine type accounted for the substantial share in 2015. This is creditable to persistent adoption as a result of larger preference owing to the related advantages such as ease of use, efficiency and flexibility.
In addition, 5-lead machine type is anticipated to grow at a lucrative growth rate over the forecast period. This is ventured to be an outcome of persistent usage in cardiology and patient monitoring systems in coming years.
Access Sample Report of this report @ https://bit.ly/3gVPtUS
Hospital segment held a leading position in the market of disposable LWs in 2015. This can be ascribed to their extensive machine varieties of disposable LWs in hospitals. Due to associated advantages with the utilization of disposable LWs and rising prevalence of hospital acquired infections the usage of disposable LWs in hospitals is anticipated to demonstrate an upward shift in near future.
While clinics are expected to show lucrative growth owing to rising demand for remote patient monitoring services and increasing awareness amongst end-users. The benefit of clinics is that they offer physicians’ quick access to the results, speeding the diagnostic process; subsequently, the demand for LWs in the clinical settings is huge due to the necessary requirement to keep up a hygienic and non- contaminated environment.
North America held a leading position in the overall disposable LWs market in 2015 due to the rising mortality rates due to cardiovascular disorders and rising healthcare expenditure in countries such as the U.S. Besides, local presence of key players in the North American region likewise contributes towards the development of disposable LWs market.
Asia Pacific is expected to gain the most astounding CAGR over the forecast period due to escalating disposable income and rising prevalence of cardiovascular disorders & hospital-acquired infections (HAIs).
The market is considered as price sensitive in nature and there is an intense competition among the players. Industry players draw in pricing strategies and manufacture products at relatively low prices. Moreover, the demand for effective products & low cost is rising from the consumer end. The aforementioned elements are expected to retain the competition at a large level. Moreover, advancement of user-friendly, sustainable solutions and low cost is anticipated to maintain industry rivalry at a large level.
Major players of this market enter into strategic unions and also acquire new entrants trying to guarantee sustainability. For instance, in September 2015, Hill-Rom Holdings, Inc. acquired Welch Allyn for USD 2.05 Million. This acquisition empowers Hill-Rom Holdings to decrease healthcare cost for consumers and offer patient care services with improved efficiency.
Browse Full Report With TOC @ https://bit.ly/3gWcbft
Get in touch
At Million Insights, we work with the aim to reach the highest levels of customer satisfaction. Our representatives strive to understand diverse client requirements and cater to the same with the most innovative and functional solutions.
Research Support Specialist, USA