North America Medical Cables Market Report (2021-2031) by Scope, Segmentation, Dynamics, and Competitive Analysis
No. of Pages: 133 | Report Code: BMIRE00031885 | Category: Life Sciences
No. of Pages: 133 | Report Code: BMIRE00031885 | Category: Life Sciences
The North America medical cables market size is expected to reach US$ 6,397.03 million by 2031 from US$ 4,076.53 million in 2023. The market is estimated to record a CAGR of 5.8% from 2023 to 2031.
The medical cables market in North America is segmented into the US, Canada, and Mexico. Technological advancements in medical devices and increasing demand for minimally invasive surgeries boost the need for high-performance medical cables. Rising healthcare expenditures and an aging population further contribute to market expansion. Additionally, the growing prevalence of chronic diseases, along with the increasing adoption of telemedicine and wearable health devices, amplifies the demand for reliable medical cables. Regulatory support, innovation in cable materials for better durability and flexibility, and a robust healthcare infrastructure also play significant roles in the market's growth.
Key segments that contributed to the derivation of the medical cables market analysis are type, application, and end user.
Chronic conditions, such as respiratory disorders, cardiovascular diseases, and kidney diseases, require ongoing monitoring and management, which fuels the demand for medical devices and, consequently, for medical cables. According to the World Health Organization (WHO) Noncommunicable Diseases Factsheet 2023, chronic diseases account for 41 million global deaths each year, equivalent to 74% of global deaths, with cardiovascular diseases causing 17.9 million deaths annually, followed by cancers (9.3 million) and chronic respiratory diseases (4.1 million). The surging prevalence of heart disease has led to an increased use of portable ECG monitors, which are essential for tracking heart health in patients with cardiovascular conditions. These devices use medical cables to connect electrodes and transmit data for analysis, driving the demand for medical cables designed for heart monitoring devices.
Chronic respiratory diseases, such as chronic obstructive pulmonary disease (COPD) and asthma, require regular monitoring of oxygen levels and lung function. Devices such as portable oxygen concentrators and pulse oximeters, which rely on cables for power and signal transmission, are in higher demand. As per the American Lung Association, COPD is the fourth leading cause of death globally, which affected 11.7 million adults in 2022. Therefore, the rising incidence of chronic diseases is directly driving the demand for medical devices that require reliable and high-performance medical cables. These devices play a critical role in monitoring, diagnosing, and managing chronic conditions. As their use continues to expand, the demand for specialized cables that ensure optimal device functionality rises.
Based on country, the North America medical cables market comprises the US, Canada, and Mexico. The US held the largest share in 2023.
In North America, the US holds a significant share of the medical cables market. The increasing prevalence of chronic diseases such as cardiovascular diseases and cancer primarily drives the market growth in the country. According to the Centers for Disease Control and Prevention (CDC), 6 in 10 Americans suffer from at least one chronic disease, such as heart disease, stroke, cancer, and diabetes, and 4 in 10 adults have two or more chronic diseases. As per the American Cancer Society, in 2022, more than 1.9 million new cases of cancer were diagnosed in the nation, causing ~609,360 deaths. Further, ~2.0 million people are expected to be diagnosed with cancer in the US in 2024. Medical cables are integral to the care and treatment of cancer patients, from chemotherapy administering treatments to facilitating diagnostics and monitoring that enhance patient management and treatment efficacy. Medical cables are essential in infusion pumps that deliver chemotherapy drugs to patients. These cables provide a reliable connection for the precise administration of medications, which is crucial for effective cancer treatment. According to the Centers for Disease Control and Prevention (CDC), in 2020, ~5.0% of adults in the US were diagnosed with chronic obstructive pulmonary disease (COPD) or chronic bronchitis. Approximately 25 million people are affected by asthma, and 14.8 million have COPD. Medical cables play a vital role in the care of COPD patients by supporting oxygen therapy, nebulization, mechanical ventilation, and monitoring systems. Their functionality is essential for improving patient outcomes and enhancing the overall management of this chronic respiratory condition. The rising focus on minimally invasive surgeries, which use advanced tools that rely on high-quality cables, is expanding the need for medical cables in operating rooms. Companies operating in the US undertake various strategic efforts that led to the growth of the market in the US. In June 2023, Omnivision introduced OVMed OCHTA, the new ultra-thin medical-grade cable module for single-use endoscopes. The new module is suitable for endoscopes used in minimally invasive surgery, including spinal, utero-renal, neuro, ophthalmic, and cardiac procedures. It links very small 400 x 400-resolution imagers to endoscopes with ultra-thin cables that are available in 1.5 m and 2.5 m lengths. In addition, in November 2024, BizLink Holding Inc., a global leader in interconnect solutions, completed the acquisition of Cable Connection Inc. The integration of Cable Connection expanded Bizink's expertise in custom cable assembly and wire harness. This integration enabled BizLink to provide more versatile and tailored solutions for an even larger number of customers across key sectors.
| Report Attribute | Details |
|---|---|
| Market size in 2023 | US$ 4,076.53 Million |
| Market Size by 2031 | US$ 6,397.03 Million |
| Global CAGR (2023 - 2031) | 5.8% |
| Historical Data | 2021-2022 |
| Forecast period | 2024-2031 |
| Segments Covered |
By Type
|
| Regions and Countries Covered | North America
|
| Market leaders and key company profiles |
Some of the key players operating in the market include 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. These players are adopting various strategies such as expansion, product innovation, and mergers and acquisitions to provide innovative products to their consumers and increase their market share.
The following methodology has been followed for the collection and analysis of data presented in this report:
The research process begins with comprehensive secondary research, utilizing both internal and external sources to gather qualitative and quantitative data for each market. Commonly referenced secondary research sources include, but are not limited to:
Note: All financial data included in the Company Profiles section has been standardized to USD. For companies reporting in other currencies, figures have been converted to USD using the relevant exchange rates for the corresponding year.
Business Market Insights’ conducts a significant number of primary interviews each year with industry stakeholders and experts to validate its data analysis, and gain valuable insights. These research interviews are designed to:
Primary research is conducted via email interactions and telephone interviews, encompassing various markets, categories, segments, and sub-segments across different regions. Participants typically include:
The North America Medical Cables Market is valued at US$ 4,076.53 Million in 2023, it is projected to reach US$ 6,397.03 Million by 2031.
As per our report North America Medical Cables Market, the market size is valued at US$ 4,076.53 Million in 2023, projecting it to reach US$ 6,397.03 Million by 2031. This translates to a CAGR of approximately 5.8% during the forecast period.
The North America Medical Cables Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the North America Medical Cables Market report:
The North America Medical Cables Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The North America Medical Cables Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the North America Medical Cables Market value chain can benefit from the information contained in a comprehensive market report.
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