Disposable Lead Wires Market Size & Forecast By Material (TPE, TPU, Silicon, PVC), By Machine Type (3 Lead, 5 Lead, 12 Lead, 6 Lead), By End-Use (Hospitals, Clinics, Long Term Facilities), And Trend Analysis From 2018 - 2025

Industry Insights

The global disposable lead wires (LWs) market size was valued at USD 545.0 million in 2015 and is expected to grow at CAGR of 6.3% over the forecast period. Increasing incidence of cardiovascular diseases resulted into growing usage of ECG equipment and accessories thereby fueling the demand for ECG lead wires over the forecast period. In addition, the use of reusable LWs on patients is responsible for the increasing incidence of blood stream infections as they are the major source for spreading antibiotic resistant bacteria in the patients.

Moreover, growing geriatric population base is expected to widen the consumer base by triggering incidence rates of cardiovascular diseases, which is expected to drive the demand for patient monitoring devices, which includes disposable LWs over the forecast period. In addition, increasing healthcare associated infections is one of the key contributing factor drives the market growth. According to the study published in the white paper of SunTech Medical Inc. every year 2 million people acquired healthcare associated infections in the U.S. alone and the number is expected to increase over the forecast period. The aforementioned factors are attributing toward the market growth in coming years.

U.S. disposable lead wires market, by material, 2014-2025 (USD Million)

Material Insights

In 2015, Thermoplastic Elastomer (TPE) accounted for the dominant share in the material segment. The substantial share can be attributed to the benefits associated that include high cost efficiency, compatibility, stability and high insulation properties. The segment is also anticipated to register exponential growth over the forecast period because of its adoption and applicability in a wide range of applications.

Thermoplastic polyurethane (TPUs) is a class of TPEs and are long-chain linear polymers without cross-links. The TPU material provides biostability, biocompatibility, low-temperature elasticity, and abrasion resistance, which makes them the best material for manufacturing of lead wires. The TPU-based lead wires are generally resistant to fungus, heat, abrasion, and exhibit acid-base resistance. The aforementioned benefits with the use of TPUs are expected to boost the usage rates in coming years.

Machine Insights

Other segments which are inclusive of 6, 12, 15 and 18 lead of machine type held the substantial share in 2015. This is attributable to consistent adoption as a consequence of high preference due to the associated benefits such as ease of use, flexibility, and efficiency.

Furthermore, 5-lead machine type is expected to grow at a lucrative CAGR during the forecast period. The aforementioned is presumed to be a consequence of consistent usage in cardiology and patient monitoring systems in future.

End-Use Insights

Hospital segment dominated the market for disposable lead wires in 2015. This can be attributed to their wide machine types of disposable LWs in hospitals. Owing to associated benefits with the usage of disposable LWs and rising incidence of hospital acquired infections the market is expected to show an upward shift in coming years.

While clinics are anticipated to show lucrative growth over the forecast period due to increasing demand for remote patient monitoring services and rising awareness amongst end-users. The advantage of clinics is they provide physicians’ quick access to results, expediting the diagnostic process; as a result, the demand for lead wires in the clinical settings is high owing to the necessary requirement to maintain a hygienic and non-contaminated environment.

Regional Insights

North America dominated the overall disposable lead wires market in 2015 owing to the increasing mortality rates resulting from heart disorders and rising healthcare expenditure in countries like the U.S. Moreover, local presence of major players in the North American region also contributes toward the growth of disposable lead wires market.

Asia Pacific is expected to gain the highest CAGR over the forecast period owing to rising disposable income and increasing prevalence of cardiovascular disorders & hospital-acquired infections (HAIs).

Global disposable lead wires market share, by end-use, 2015

Competitive Insights

The market is price sensitive in nature and the players are involved in an intense competition. Industry players are involved in pricing strategies and manufacturing products at comparatively low prices. In addition, the demand for low cost & effective products is increasing from the consumer end. The aforementioned factors are anticipated to keep the competition at a high level. Furthermore, development of user-friendly, low cost and sustainable solutions is expected to keep industry rivalry at a higher level.

Key players of this market enter into strategic alliances and acquire new entrants in an attempt to ensure sustainability. For instance, in September 2015, Hill-Rom Holdings, Inc. acquired Welch Allyn for USD 2.05 Million. This acquisition enables Hill-Rom Holdings to reduce healthcare cost for consumers and provide patient care services with more efficiency.

Report Scope

Segments Covered in the Report

This report forecasts revenue growth and provides an analysis of the industry trends in each of the sub-segments from 2014 to 2025. For the purpose of this study, Grand View Research has segmented the disposable lead wires market on the basis of material, machine type, end use, and region:

• Material Outlook (Revenue, USD Million, 2014 - 2025)

  • TPE

  • TPU

  • Others

• Machine Type Outlook (Revenue, USD Million, 2014 - 2025)

  • 3 Lead

  • 5 Lead

  • Others

• End-use Outlook (Revenue, USD Million, 2014 - 2025)

  • Hospitals

  • Clinics

  • Long Term Facilities

  • Ambulatory & Home Care Settings

• Regional Outlook (Revenue, USD Million, 2014 - 2025)

  • North America

    • U.S

    • Canada

  • Europe

    • Germany

    • UK

  • Asia Pacific

    • Japan

    • China

    • India

  • Latin America

    • Brazil

    • Mexico

  • The Middle East and Africa

    • South Africa