At 5.3% CAGR, Europe Medical Cables Market is Projected to be Worth US$ 4,396.75 Million by 2031 says Business Market Insights

According to Business Market Insights’ research, the Europe medical cables market was valued at US$ 2,902.12 million in 2023 and is expected to reach US$ 4,396.75 million by 2031, registering a CAGR of 5.3% from 2023 to 2031. Strategic initiatives by market player and increase in chronic diseases are among the critical factors attributed to drive the Europe medical cables market.

Companies operating in the medical cable market constantly focus on strategic developments such as product approvals, collaborations, funding, agreements, and new product launches to increase their sales, expand their geographic reach, and improve their capacities to cater to a greater than existing customer base. A few strategic initiatives taken by key players operating in the medical cable market are mentioned below.

• In October 2024, BizLink Holding Inc. signed a definitive purchase agreement to acquire Cable Connection Inc. that provides new product introduction and box build solutions to customers for various industries, including healthcare, automotive, communications, semiconductor, and aerospace.
• In June 2023, Omnivision launched the new ultra-thin medical-grade cable module, OVMed OCHTA, for single-use endoscopes. OVMed OCHTA cable modules include a six-wire cable that enables manufacturers to add their own LED illumination.
• In March 2023, Times Microwave Systems launched XtendedFlex 178 continuous flex coaxial cable for applications requiring constant motion and flexibility, such as robotics and industrial automation technologies in large distribution centers. This new product is designed, manufactured, and tested for high-performance coaxial cable assemblies for ultra-demanding applications, including aerospace, medical, military and defense, space, and more, to enable new technological innovations.
• In December 2021, Kane Infrastructure Services Holdings, LLC acquired Cable Solutions, LLC, to expand its geographical reach from the Northeast to the Southwest, providing a national service footprint for its customers, including healthcare and education.
• In October 2021, Sandvik acquired Accuratech Group, a medical wire forming and component manufacturer. The product offering includes ultra-fine wires and micro-tubes, semi-finished wire components, electroplating and other products and services mainly used for the medical industry.

On the contrary, the development of wireless devices hampers the growth of Europe medical cables market.

Based on type, the Europe medical cables market is segmented into disposable medical cable, reusable medical cables, and custom medical cables. The reusable medical cables segment held 61.3% market share in 2023, amassing US$ 1,779.33 million. It is projected to garner US$ 2,680.54 million by 2031 to register 5.3% CAGR during 2023–2031.

In terms of application, the Europe medical cables market is categorized into diagnostics, motorized equipment, patient monitoring, surgical and life support, and others. The surgical and life support segment held 31.6% share of Europe medical cables market in 2023, amassing US$ 918.52 million. It is anticipated to garner US$ 1,444.84 million by 2031 to expand at 5.8% CAGR during 2023–2031. Further, the diagnostics is sub segmented into ultrasound cables, endoscopy cables, patient interface cables, and others. Additionally, patient monitoring is segmented into ECG cables, SpO2 cables, NiBP cables, EEG Cables, and others. Furthermore, surgical and life support is categorized into fiber optics, modular local area network, and others.

In terms of end user, the Europe medical cables market is categorized into hospitals and clinics, diagnostic laboratories and imaging, and ambulatory surgical centers. The hospitals and clinics segment held 47.8% share of Europe medical cables market in 2023, amassing US$ 1,388.50 million. It is projected to garner US$ 2,184.03 million by 2031 to expand at 5.8% CAGR from 2023 to 2031.

Based on country, the Europe medical cables market is categorized into Germany, France, the UK, Italy, Spain, and the Rest of Europe. Our regional analysis states that Germany captured 29.5% share of Europe medical cables market in 2023. It was assessed at US$ 855.72 million in 2023 and is likely to hit US$ 1,346.46 million by 2031, registering a CAGR of 5.8% during 2023–2031.

Key players operating in the medical cables market are TE Connectivity Ltd; Shenzhen Yong Qiang Fu Industry Co., Ltd; Spacelabs Healthcare; Ametek Inc; ATL Technology; Amphenol Alden Products; Molex LLC; and New V-Key Technology Co., Ltd. among others.

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