The global disposable lead wires market size was valued at USD 545.0 million in 2015 and is expected to grow at a CAGR of 6.3% over the forecast period. Increasing incidence of cardiovascular diseases resulted in 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.
U.S. disposable lead wires market, by material, 2014-2025 (USD Million)
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 factors contributing to 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 the coming years.
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 the coming years.
Other segments, which are inclusive of 6, 12, 15, and 18 lead of machine type, held a 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.
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 the 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.
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, the presence of major players in the North American region also contributes toward the growth of 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
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 Attribute |
Details |
Market size value in 2020 |
USD 837.0 million |
Revenue forecast in 2025 |
USD 999.4 million |
Growth Rate |
CAGR of 6.3% from 2016 to 2025 |
Base year for estimation |
2015 |
Historical data |
2014 - 2015 |
Forecast period |
2016 - 2025 |
Quantitative units |
Revenue in USD million and CAGR from 2016 to 2025 |
Report coverage |
Revenue forecast, company share, competitive landscape, growth factors and trends |
Segments covered |
Material, machine type, end use, region |
Regional scope |
North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
Country scope |
U.S., Canada, UK, Germany, Japan, China, Brazil, Mexico, South Africa |
Key companies profiled |
3M; BD; Mindray; Schiller AG; Carlisle Medical Technologies; OSI Systems, Inc.; CONMED; Hill-Rom Services, Inc. |
Customization scope |
Free report customization (equivalent up to 8 analysts working days) with purchase. Addition or alteration to country, regional & segment scope. |
Pricing and purchase options |
Avail customized purchase options to meet your exact research needs. Explore purchase options |
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 global 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
The U.S.
Canada
Europe
Germany
UK
Asia Pacific
Japan
China
India
Latin America
Brazil
Mexico
The Middle East and Africa
South Africa
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With Covid-19 infections rising globally, the apprehension regarding a shortage of essential life-saving devices and other essential medical supplies in order to prevent the spread of this pandemic and provide optimum care to the infected also widens. In addition, till a pharmacological treatment is developed, ventilators act as a vital treatment preference for the COVID-19 patients, who may require critical care. Moreover, there is an urgent need for a rapid acceleration in the manufacturing process for a wide range of test-kits (antibody tests, self-administered, and others). The report will account for Covid19 as a key market contributor.