Cables and leads are connecting instruments used in medical devices, particularly cardiovascular devices. Leads are also used to connect the pacemaker to the valves of the heart. Though the economic downturn affected the healthcare industry due to rising capital costs, declining patient volumes, and unfavorable reimbursement scenario, the medical device market, especially the cardiovascular device market, remained largely immune to the slowdown.
Demand for few of the cardiovascular devices such as pacemakers, stents, implantable cardioverter defibrillator (ICD), and heart valves continued to grow despite the financial crisis. On the other hand, manufacturers of economical, high-frequency cardiovascular accessories purchased on a daily basis by the hospitals felt the pinch of the crisis, as hospitals and healthcare facilities trimmed down their capital expenditure. As the baby boomer population continues to age, demand for defibrillators, electrocardiography (ECG), electroencephalography (EEG), and pacemakers is expected to grow significantly. Growing demand for these medical devices in turn is expected to increase the demand for cables and leads. Technological developments have increased capabilities of leads as well as their lifetime.
As stated by the new market research report on Cables and Leads for Medical Equipment, the United States represents the largest regional market. Asia-Pacific is projected to register the highest CAGR during the analysis period. ECG equipment comprises the largest application market for cables and leads, while defibrillators constitute the fastest growing application area. An aging global population and rising incidence of various cardiovascular diseases constitute a major driving force for cardiac defibrillators. In addition, the widespread availability of superior medical services for patients suffering from sudden cardiac arrest also contributes to the growing market for cardiac defibrillators, thereby propelling the demand for cables and leads.
Major players profiled in the report include Boston Scientific Corporation, Cables Unlimited, ConMed Corporation, Flexible Wire and Cable Inc., GE Healthcare, Medtronic Inc., Nihon Kohden Corporation, Sorin Group Cardiac Rhythm Management, Spacelabs Healthcare Inc., and St. Jude Medical Inc.
The research report titled “Cables and Leads for Medical Equipment: A Global Strategic Business Report” announced by Global Industry Analysts, Inc., provides a comprehensive review of trends, issues, strategic industry activities, and profiles of major companies worldwide. The report provides market estimates and projections (US$ Million) across geographic markets such as the US, Canada, Japan, Europe (France, Germany, Italy, UK, Spain, and Rest of Europe), Asia Pacific, and Latin America, and Rest of World. Key application areas analyzed include Pacemaker, Defibrillator, EEG, and ECG.
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