Global Disposable Lead Wires Market Size/Share Projected to Reach USD 1.96 Billion By 2032, With a CAGR of 6.4%: Polaris Market Research
Polaris Market Research conducted a comprehensive research study spanning over [+110] pages, revealing that the global disposable lead wires market size/share was valued at USD 1.06 Billion in 2022. The study further indicates that the market will grow at a compound annual growth rate (CAGR) of 6.4% and is projected to touch USD 1.96 Billion By 2032. TPE segment expected to witness highest growth rate, primarily due to increasing need to reduce infections in healthcare facilities. Some of the top market leaders are 3M, BD, Mindray, Schiller, Carlisle Medical Technologies, OSI Systems, CONMED, Hill-Rom Services and others.
New York, NY, Sept. 06, 2023 (GLOBE NEWSWIRE) — Polaris Market Research has published a new research report titled “Disposable Lead Wires Market Share, Size, Trends, Industry Analysis Report, By Material (TPE, TPU, Others); By Machine Type (3 Lead, 5 Lead, Others); End User; By Region; Segment Forecast, 2023-2032” in its research database.
“As per the latest research analysis, the global disposable lead wires market size/share will be valued at roughly USD 1.06 Billion in 2022, and its revenue is projected to reach about USD 1.96 Billion By 2032. The market is forecasted to expand at a compound annual growth rate of approximately 6.4% between 2023 and 2032.”
What is Disposable Lead Wires? How Big is Disposable Lead Wires Market Size & Share?
Disposable lead wires are medical devices designed to eliminate cross-contamination and improve patient care. These are used in healthcare settings to pass electrical signals from the patient’s body to various medical devices like cardiac monitors, electrocardiogram (ECG) machines, and other diagnostic instruments. These electrical signals enable healthcare professionals to obtain crucial physiological information to analyze a patient’s important signs and cardiac activity.
These wires eliminate the need to clean and sanitize between patients, saving important time. The disposable lead wires work in conjunction with adhesive electrode pads to target particular muscle groups and treat pain related to arthritis, menstruation, sports injuries, and knee, back, and hip pain. The rising prevalence of healthcare-associated infections is driving the disposable lead wires market size growth. Also, increasing frequency of hospital-acquired contaminants.
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Some of the Top Market Leaders Are:
- Carlisle Medical Technologies
- Hill-Rom Services
- OSI Systems, CONMED
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Disposable Lead Wires Market: Report Scope
|Revenue Forecast in 2032||USD 1.96 Billion|
|Market size value in 2023||USD 1.12 Billion|
|Expected CAGR Growth||6.4% from 2023 – 2032|
|Forecast Year||2023 – 2032|
|Top Market Players||3M, BD, Mindray, Schiller, Carlisle Medical Technologies, OSI Systems, CONMED, and Hill-Rom Services|
|Segments Covered||By Material, Machine Type, By End Use, By Region|
|Customization Options||Customized purchase options are available to meet any research needs. Explore customized purchase options|
Prominent Growth Driving Factors
- Prevalence of cardiac ailments: Rising usage of ECG equipment & accessories due to the increasing prevalence of cardiac ailments is likely to increase the demand for ECG lead wires throughout the forecast period, thereby propelling the disposable lead wires market growth.
- Adoption of disposable lead wires: These wires are discarded after use to reduce the potential risk of cross-contamination and the spread of antibiotic-resistant bacteria. Therefore, healthcare facilities are increasingly using disposable lead wires to eliminate this risk.
- Geriatric population: The increasing geriatric population is projected to fuel the cases of cardiovascular diseases, which is anticipated to surge the demand for patient monitoring devices, including disposable ECG lead wires, thereby fostering the disposable lead wires market demand.
Top Findings of Report
- Rising demand for disposable lead wires and cables is driving the market growth.
- The market is primarily segmented based on material, machine, end-use, and region.
- North America region held the highest growth in 2022.
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Recent Trends Influencing the Market
- COVID-19 pandemic impact: Due to the concern over the COVID-19 pandemic and hospital-acquired infections (HAIs), many companies are expected to introduce disposable leads, which is boosting the disposable lead wires market growth. The global demand for disposable wires and cables has increased following the COVID-19 pandemic. This is because reusable ECG lead wires are associated with an increased risk of cross-contamination as they come into close contact with patients.
- Incidence of infections: The rising prevalence of healthcare-associated infections is fueling the disposable lead wires market growth. For instance, according to a study that was included in SunTech Medical’s white paper, there are about 2 million healthcare-associated infections in the United States each year, and the number is expected to grow during the forecast period. These factors substantially influence the market’s expansion in the foreseen period.
- Thermoplastic elastomer (TPE) segment held the highest disposable lead wires market share in 2022
By material analysis, the TPE category dominated the market owing to various advantages of TPE, such as cost efficiency, stability, excellent insulation properties, and compatibility. Further, the TPE category is anticipated to show immense growth during the forecast period owing to its extensive use and adaptability to many different applications. Moreover, the TPUs category is estimated to show substantial growth. TPUs are a subcategory of Thermoplastic Elastomers (TPEs) made up of long-chain linear polymers without any sort of cross-linking. TPUs are well-known for their bio-stability, bio-compatibility, low-temperature flexibility, and abrasion resistance, making them the perfect materials to use when creating lead wires.
- Hospital segment accounted for a significant market share
Based on end-use disposable lead wires market segmentation, the hospital category witnessed the maximum revenue share due to the increased use of different types of disposable lead wires in hospitals. The use of disposable lead wires provides certain advantages, such as reduced risk of hospital-acquired infections. The rising cases of such infections and the benefits of disposable lead wires are predicted to positively influence the market growth during the study period. Furthermore, the clinics category is anticipated to experience the fastest growth owing to factors including growing demand for remote patient monitoring services and rising awareness among end-users.
- 5-lead segment is expected to experience the highest growth
In terms of machine analysis, the 5 lead segment is expected to register the largest growth during the foreseen period. This growth can be attributed to its everyday use in patient monitoring and cardiology assembly. It is projected that it will have a significant impact in these areas in the future, which will support the anticipated growth of its disposable lead wires market. Other categories held the major share during the forecast period due to the continued adoption of certain computer types, encouraged by users’ strong desire for them.
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- North America region registered the market share in 2022
By geography, the disposable lead wires market in North America estimated the largest revenue share due to factors such as rising mortality rates in the area that are related to heart conditions. The region now has a greater need for cardiac monitoring equipment, particularly lead wires, as a result of the increased prevalence of cardiovascular disorders. Moreover, significant healthcare expenditure, especially in nations such as the United States, is driving the regional market growth. Significant investments in healthcare infrastructure and technical breakthroughs support the region’s adoption of cutting-edge cardiac monitoring systems.
Asia Pacific is projected to experience the fastest emerging region with significant CAGR in coming years. This growth can be increasing disposable income, which has led to the demand for advanced healthcare solutions, including cardiac monitoring devices such as lead wires. Demand for the management and monitoring of cardiovascular disorders rises as disposable income rises and people have easier access to high-quality healthcare services. Growing prevalence of cardiovascular diseases in the Asia Pacific region fuels the market growth due to the prevalence of heart-related illnesses increasing as a result of sedentary lifestyles, unhealthy eating patterns, and an aging population.
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Highlights of The Report
- All-inclusive information on the product portfolios of the top players in the market.
- An in-depth assessment of the geographic and business segments of the market.
- Market segmentation on the basis of the type of product, application, and region.
- It offers a forward-looking perspective on the developing elements driving or controlling the business area’s development.
- The recent research and development projects performed by each key player.
- A thorough analysis of the market’s value chain and assess the effect of Porter’s five forces.
Polaris Market Research has segmented the disposable lead wires market report based on material, machine type, end use, and region:
By Material Outlook
By Machine Outlook
- 3 Lead
- 5 Lead
By End Use Outlook
- Long Term Facilities
- Ambulatory & Home Care
By Region Outlook
- North America (U.S., Canada)
- Europe (France, Germany, UK, Italy, Netherlands, Spain, Russia)
- Asia Pacific (Japan, China, India, Malaysia, Indonesia. South Korea)
- Latin America (Brazil, Mexico, Argentina)
- Middle East & Africa (Saudi Arabia, UAE, Israel, South Africa)
About Polaris Market Research:
Polaris Market Research is a global market research and consulting company. The company specializes in providing exceptional market intelligence and in-depth business research services for PMR’s clientele spread across different enterprises. We at Polaris are obliged to serve PMR’s diverse customer base present across the industries of healthcare, technology, semiconductors, and chemicals among various other industries present around the world. We strive to provide PMR’s customers with updated information on innovative technologies, high-growth markets, emerging business environments, and the latest business-centric applications, thereby helping them always to make informed decisions and leverage new opportunities. Adept with a highly competent, experienced, and extremely qualified team of experts comprising SMEs, analysts, and consultants, we at Polaris endeavor to deliver value-added business solutions to PMR’s customers.
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