Electrocardiograph (ECG) Market By Product (Resting Electrocardiograph (ECG), Stress Electrocardiograph (ECG), Holter Monitors, Others), By End User (Hospitals & Clinics, Home Settings & Ambulatory Surgical Centers (ASCs), Others), By Lead Type (Single Lead ECG, 2 Lead ECG, 3 Lead ECG, 6 Lead ECG, 12-Lead ECG): Global Opportunity Analysis and Industry Forecast, 2020-2030
The global electrocardiograph (ECG) market was valued at $8,349.00 million in 2020, and is projected to reach $18,436.70 million by 2030, registering a CAGR of 8.3% from 2021 to 2030.
ECG is a noninvasive technique for recording electrical activities of heartbeat over a span of time. Every heartbeat generates an electrical impulse that is captured with the help of electrodes rested on the body of a patient. Electrodes sense the tiny electrical modifications on the skin that happen from the depolarizing of heart muscle during every heartbeat. ECG devices are used to record the heart activities through electric signals. These devices are amplified on the ECG monitor. ECG devices are essentially adopted across various medical set-ups to diagnose different types of heart diseases and arrhythmias in people, thereby assisting the appropriate therapy for cardiovascular diseases (CVD) patients.
Increase in incidence of cardiovascular diseases and lifestyle associated diseases such as ischemic heart disease (IHD), hypertensive heart disease, stroke, and peripheral artery diseases is anticipated to drive the market growth. Surge in geriatric population base, improvement in healthcare infrastructure, and supportive reimbursement policies are expected to drive the growth of the ECG market. Furthermore, continuous advancements in technologies for ECG devices and introduction of remote monitoring devices are expected to fuel the growth of the market during the forecast period. Developing nations witness potential growth opportunities in comparison with developed countries, owing to the fact that the market of developed nations is almost saturated. In addition, developing nations are expected to witness lucrative growth opportunities, owing to favorable government policies such as investments to minimize the cost for treatment procedures in healthcare centers, increase in expenditure in healthcare, and largely untapped market potential.
However, lack of awareness regarding the use of ECG for diagnosis of diseases hampers the market growth. Furthermore, dearth of skilled professionals and service providers is presenting major issues and challenges for the market growth.
The global ECG market is segmented into product, end user, lead type, and region. By product, the market is categorized into resting electrocardiograph, stress electrocardiograph, and Holter monitors and others.
Depending on end user, it is categorized in hospitals & clinics, home setting & ambulatory surgical centers (ASCs), and others.
By lead type, it segregated into single lead ECG, 2 lead ECG, 3 lead ECG, 6 lead ECG, and 12 lead ECG.
Region wise, the market is analyzed across North America (U.S., Canada, and Mexico), Europe (Germany, France, the UK, Italy, Spain, and rest of Europe), Asia-Pacific (Japan, China, Australia, India, South Korea, and rest of Asia-Pacific), and LAMEA (Brazil, South Arabia, South Africa, and LAMEA).
The major companies profiled in the report include Ambu A/S, Baxter International Inc., BPL Medical Technologies Private Limited, Fukuda Denshi Co. Ltd., Johnson & Johnson, Koninklijke Philips N.V., Medtronic Plc., Nihon Kohden Corporation, Schiller AG, and Shenzhen Mindray Bio-Medical Electronics Co.
KEY BENEFITS FOR STAKEHOLDERS
The report provides an in-depth analysis of the global ECG Market size along with the current trends and future estimations to elucidate the imminent investment pockets.
It offers market analysis from 2021 to 2030, which is expected to enable the stakeholders to capitalize on the prevailing opportunities in the market.
A comprehensive analysis of the region assists to understand the regional market and facilitate strategic business planning and determine prevailing opportunities.
The profiles and growth strategies of the key players are thoroughly analyzed to understand the competitive outlook of the global ECG Market growth.
Key Market Segments
By Product
Resting Electrocardiograph (ECG)
Stress Electrocardiograph (ECG)
Holter Monitors
Others
By End User
Hospitals Clinics
Others
Home Settings Ambulatory Surgical Centers (ASCs)
By Lead Type
Single Lead ECG
2 Lead ECG
3 Lead ECG
6 Lead ECG
12-Lead ECG
By Region
North America
U.S.
Canada
Mexico
Europe
Germany
France
United Kingdom
Italy
Spain
Rest of Europe
Asia-Pacific
Japan
China
India
Australia
Malaysia
New Zealand
Rest of Asia-Pacific
LAMEA
Brazil
South Africa
Egypt
Saudi Arabia
Rest of LAMEA
Key Market Players
NIHON KOHDEN CORPORATION
OSI SYSTEMS FUKUDA DENSHI CO LTD.
OPTO CIRCUITS LIMITED
PHILIPS HEALTHCARE (KONINKLIJKE PHILIPS N.V.)
SCHILLER AG
GE HEALTHCARE (GENERAL ELECTRIC COMPANY)
JOHNSON AND JOHNSON
MORTARA INSTRUMENT, INC.
MEDTRONIC PLC
MINDRAY MEDICAL INTERNATIONAL LIMITED
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