Cables and Leads for Medical Equipment Market Proliferating from Surging Demand Due to COVID-19 Pandemic Crisis: Fact.MR from Margo Trobbie's blog
Key players
are engaged on creating and developing cables & leads for medical equipment
which are cost-efficient and user-friendly to support in R&D of infection inhibiting
technical solutions.
The cables and leads for medical equipment market
is poised to register a CAGR of about 5% over the assessment period, 2020-2030.With growing concerns in relation to
transmission and infection control, medical centers are choosing to utilize
disposable medical equipment, this is fuelling demand for cables & leads for
medical equipment in the healthcare sector.
"With surging hospital admission
cases amid the COVID-19 outbreak, the requisite for medical devices has soared
up, in that way contributing to the market growth over the forecast
period." says the Fact.MR report.
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Key Takeaways
·
North
America remains one of the most lucrative regions in the global market due to
growing investments on R&D by both, international companies and governments
·
Hospitals
end use segment will record high demand due to growing investments by both
emerged and emerging regions
·
ECG
is gaining traction among application categories in the global market
·
The
cables & leads for medical equipment will foresee a surge in demand owing
to growing number of patients in hospitals
Driving Factors
·
Increasing
geriatric population and increasing incidences of key chronic diseases are
driving the market growth
·
Increased
government programs for instance Medicaid and Medicare and healthcare
expenditure has positively impacted demand for medical services, along with the
cables & leads for medical equipment
·
Growing
instances of cardiovascular ailments has caused expansion in use of ECG
accessories and equipment, thus encouraging the demand over the forecast period
Constraints
·
High
cost associated with the disposable cables & leads is hindering the
full-fledged expansion in the market
·
Growing
inventions for the expansion of wireless healthcare devices will limit demand
for cables & leads
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Anticipated Market Impact by COVID-19
Outbreak
The cables
& leads for medical equipment market is slated to foresee noteworthy
expansion amid the forecast period as the healthcare sector is gaining
traction. While the market encountered several hiccups amid the initial phases
of the pandemic such as supply chain disruptions, travel and transportation
restrictions. However market players are coming up with novel strategies to
recover pace, the market is projected to regain from losses as well as swell
ahead in the future.
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