GIA announces the release of a comprehensive
global report on Cables and Leads for Medical Equipment markets. The global
market for Cables and Leads for Medical Equipment is projected to reach US$9.1
billion by the year 2017.
An
aging global population, particularly in the US and Europe, is expected to
sustain the demand for cables and leads for medical devices such as pace makers
and defibrillators. Further, rapid advances in technology and increasing demand
from Asia-Pacific and other emerging economies would continue to drive market
growth.
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 unfavourable
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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