Market Challenges And Opportunities

According to the World Health Organization (WHO), cardiovascular diseases (CVD) is a number one leading cause of morbidity and mortality worldwide. The data represents high prevalence and incidence of CVD worldwide, which may need advance preventive measures and treatment. Thus, this factor may favor the growth of ECG cable and ECG lead wires market during the forecast period.

According to the World Health Organization (WHO), approximately 17.7 million people died due to CVD in 2015. Moreover, according to the Centers for Disease Control and Prevention (CDC), around 630,000 people in the U.S. die due to heart diseases every year and approximately 366,000 people died due to coronary heart disease (CHD) in 2015.

According to the British Heart Foundation (BHF), in 2014, cardiovascular disease (CVD) is the second leading cause of death in the UK. As per BHF, approximately 69,000 people died due to coronary heart disease (CHD) in 2014. Furthermore, according to European Heart Network, 2017, every year around 3.9 million deaths occur owing to CVD in Europe and approximately 1.8 million deaths in the European Union (EU).

Besides, according to Population Reference Bureau (PRB), in 2016, around 46 million people are aged 65 years and older in the U.S. and it is predicted that, by 2060 this population will be 98 million. High prevalence and incidence of CVD and rising geriatric population is a major driving factor that may boost the growth of ECG Cable and ECG Lead Wires Market.

Revolution of wires to wireless technology in ECG monitoring system may reshape the healthcare delivery in near future

Emerging IoT healthcare technology is transforming the healthcare monitoring system, to reduce the health risks and ensure optimal patient care. In present scenario, wireless monitoring system took over ECG cables and lead wires. For instance, by removing ECG associated multitude wires, Peerbridge Health improved ECG monitoring efficiency by making of wireless electrocardiogram monitor – Peerbridge Cor which was patented in 2012 and cleared by the Food and Drug Administration (FDA) in October 2017. Cor devices have smallest on-body footprint for any wearable monitor which provides wireless multi-channels of ECG by water resistant electrodes for continuous remote monitoring of patient. Such products will transform the demand for ECG cable and lead wires significantly during the forecast period.