Disposable Lead Wires Market - Future Scope Analysis by 2025
The number of hospital acquired infections is directly proportional to the high morbidity and mortality rates. These infections are caused due to antibacterial-resistant microorganisms and directly impact the hospital economics. The expense for hospital acquired diseases and infection heightened after 2008 when Medicare no longer provided reimbursement for these diseases. Thus, in or to prevent or eliminate these cross-contamination infections, three potential methods are generally applied, one of which is eliminating the route that will enable the infection to get transferred from one patient to another. As electrocardiography wires are not 100% of the time disinfected, they are the possible contributors to the growth of the type of resistant bacteria causing infections. The several pathways that are presented by reusable wires containing resistant bacteria for cross-contamination by resistant bacteria highly triggers the threat of hospital-acquired infections when these types of wires are used and reused.
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The employment of disposable lead wires helps in eliminating the risk of infection via these pathways. The adoption of these disposable lead wires also is as an aide for the complete infection control program and can further help in decreasing the rate of infections in acute medical and health care facilities.
Global Disposable Lead Wires Market: Trends and Prospects
The global market for disposable lead wires is expected to witness a stable growth over the coming years owing to the rising occurrence rate of cardiovascular diseases. This factor is expected to trigger the use of ECG equipment and related accessories, thus propelling the demand for ECG lead wires in the coming years. Additionally, the usage of reusable lead wires on patients is the key reason behind the growing occurrence of blood stream infection and are the principal source for the spreading of antibiotic resistant bacteria among patients. The ever rising global geriatric population is anticipated to help in widening the consumer base of the global disposable lead wires market by pushing the frequency of cardiovascular diseases. This factor, in return is expected to propel the sales of patient monitoring devices such as disposable lead wires over the forecast period. One of the primary drivers of growth of the market is rise in healthcare associated infections across the globe.
According to a recent study published by SunTech Medical Inc, each year over 2 million suffer from hospital acquired infections alone in the U.S. and the number is likely to rise in the coming years. These factors are thus expected to contribute towards the evolution of this market over the forecast period.
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Global Disposable Lead Wires Market: Market Potential
In order to stay competitive in the market and secure a strong and stable positions, many market leaders are entering into strategic alliances or are merging with other leading companies. For instance, Welch Allyn was acquired by Hill-Rom Holdings Inc. in September 2015 for approximately US$2.05 mn. This acquisition enabled Hill-Rom Holdings to decrease the cost of healthcare for consumers and present patient care services with far more efficiency.
Global Disposable Lead Wires Market: Regional Outlook
Region-wise, North America is expected to hold a strong position in the global disposable lead wires in the coming years owing to rising mortality rates which is the result of heart disorders among people in the region. The growing expenditure on healthcare in the U.S. and the presence of local players is also expected to aid the growth of the global disposable lead wires market in the coming years.
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Global Disposable Lead Wires Market: Vendor Landscape
The nature of the global disposable lead wires market is extremely price sensitive and the competition among the players is intense. The companies are constantly focusing on producing low priced products and implement better pricing strategies.
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