Disposable Lead Wires Market Size, Share & Trends Analysis Report By Material (TPE, TPU, Silicone, PVC), By Machine Type (3 Lead, 5 Lead, 12 Lead, 6 Lead), By End-use, By Region, And Segment Forecasts, 2022 - 2030

Disposable Lead Wires Market Growth & Trends

The global disposable lead wires market size is expected to reach USD 1.7 billion by 2030, registering a CAGR of 6.6%, according to a new study by Grand View Research, Inc. Rising incidence of hospital-acquired infections (HAIs) is the key driving factor for the market growth. The reusable lead wires are the major cause of hospital-acquired bloodstream infections. The use of disposable lead wires eliminates the risk of cross-contamination. In addition, it reduces the cost associated with HAIs. The aforementioned benefits are presumed to boost the usage rates over the forecast period.

As per the data published by the University of Wisconsin Hospital and Clinics, Madison, more than 77% of cases of contamination with Multidrug-Resistant Bacterial Pathogens (MRSA, Vancomycin-Resistant Enterococci (VRE) were connected with the use of reusable ECG lead wires in hospitalized patients.

According to World Health Organization (WHO), 7 out of every 100 hospitalized patients will develop hospital-acquired infections in developed countries, whereas, the number will increase to 10 in developing countries due to poor healthcare infrastructure. The rate of ICU-acquired infections is at least 2-3 times higher in developing countries. Hence, significant demand for these products prevails due to such factors.

Moreover, the rising number of government initiatives to promote the incorporation of patient safety procedures in hospital settings is presumed to drive the overall market growth during the forecast period. Furthermore, an introduction of technologically advanced disposable LWs is anticipated to drive the market growth during the forecast period. For instance, advanced disposable ECG-LWs with patented push-button design have superior capabilities in reducing alarms that are created by a failure of leads and the absence of telemetry. These above-mentioned factors are anticipated to fuel the market growth.

Disposable Lead Wires Market Report Highlights

• Thermoplastic Elastomer (TPE) is expected to witness lucrative growth during the forecast period, owing to the rising adoption to reduce infection rates in healthcare facilities
• The advantages of TPE over other materials like PVC and rubber latex such as providing better flexibility, ease of processing enabling high performance in a variety of applications
• The demand for the 5-lead machine type is expected to increase in coming years owing to the surge in demand for cost-effective equipment in critical care settings
• Ambulatory care centers are presumed to witness exponential growth throughout the forecast period. This can be attributed to the rising significance of disposable LWs inpatient monitoring
• North America accounted for the largest share in the market for disposable lead wires, owing to the rising mortality rates pertaining to heart diseases
• The Asia Pacific is anticipated to witness lucrative growth as a result of unmet patient needs, rising healthcare expenditure, and the establishment of major global players is expected to drive segment growth during the forecast period
• The key players are involved in strategic alliances to sustain the competition, such as mergers & acquisitions, strategic partnerships, and geographic expansion