Global Market for Cables and Leads for Medical Equipment to Reach US$7.8 Billion by 2015, According to a New Report by Global Industry Analysts, Inc.
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 forecast to reach US$7.8 billion by the year 2015. Key factors driving market growth include aging global population, rapid advances in technology, and increasing demand from the Asia-Pacific region.
San Jose, CA (Vocus/PRWEB) January 13, 2011
Medical device market, especially the cardiovascular device market was largely immune to the recent slowdown in the global economy in comparison to other healthcare sectors. Despite the financial crisis, demand for few of the cardiovascular devices such as the pacemakers, stents, ICD and heart valves registered growth. On the other hand, manufacturers of other economical, high frequency cardiovascular accessories that are purchased on a daily basis by the hospitals felt the pinch of the crisis, as hospitals and healthcare facilities trimmed down their capital expenditures.
People falling sick irrespective of the economic situation; increasing number of aged people demanding advanced and higher levels of medical facilities; and increasing importance of healthcare in the third world countries are few of the major factors that aid the medical device manufacturers to sustain business even during tiring times. Moreover, the growing quest for developing newer and innovative medical devices is further steering the growth in the market. Increasing number of ageing population all over the world, especially in the US and Europe, is triggering demand for cables and leads for medical equipment. Also, as the baby boomer population continues to age, demand for defibrillators and electrocardiography (ECG) as well as for electroencephalography (EEG) and pacemakers will grow, which in turn would fuel growth for cables and leads.
The United States represents the largest market for cables and leads for medical equipment worldwide, as stated by the new market research report on Cables and Leads for Medical Equipment. The US is projected to retain its lead in the coming years also. Europe trails the US market in terms of sales of cables and leads for medical equipment. However, fastest growth is likely to emanate from Asia-Pacific market. The Asia-Pacific market for cables and leads for medical equipment is projected to register the fastest CAGR of more than 6.0% over the analysis period.
ECG is the largest application area for cables and leads in the global market. On the other hand, Defibrillators constitutes the fastest growing application area for cables and leads, exhibiting a CAGR of more than 7.0% over the analysis period.
Major players profiled in the report include Applied Cardiac Systems Inc., 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 the cables & leads for medical equipment markets, impact of recession on the markets, current market trends, key growth drivers, review and overview of application areas, recent product introductions, recent industry activity, and profiles of major/niche global as well as regional market participants. The report provides annual sales estimates and projections for Cables and Leads for Medical Equipment market for the years 2007 through 2015 for the following geographic markets - US, Canada, Japan, Europe, Asia-Pacific, Latin America and Rest of World. Key application areas analyzed include Pacemakers, Defibrillators, EEG, and ECG. Also, a seven-year (2000-2006) historic analysis is provided for additional perspective.
For more details about this comprehensive market research report, please visit – http://www. strategyr. com/Cables_And_Leads_for_Medical_Equipment_Market_Report. asp
About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) is a reputed publisher of off-the-shelf market research. Founded in 1987, the company is globally recognized as one of the world’s largest market research publishers. The company employs over 800 people worldwide and publishes more than 1200 full-scale research reports each year. Additionally, the company also offers thousands of smaller research products including company reports, market trend reports, and industry reports encompassing all major industries worldwide.
Global Industry Analysts, Inc.
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