Diagnostic Electrocardiograph (ECG) Market by Product (Resting ECG, Stress, Mobile Cardiac Telemetry Device, Implantable Loop Recorder) and Service, Lead Type (12-lead, 6-lead, 5- lead), End User, and Region - Global Forecast to 2028

Diagnostic Electrocardiograph (ECG) Market by Product (Resting ECG, Stress, Mobile Cardiac Telemetry Device, Implantable Loop Recorder) and Service, Lead Type (12-lead, 6-lead, 5- lead), End User, and Region - Global Forecast to 2028

The global diagnostic electrocardiogram (ECG) market is projected to reach USD 11.3 billion by 2028 from USD 8.1 billion in 2023, at a CAGR of 6.9% during the forecast period. The rising prevalence of cardiovascular and lifestyle diseases, growing demand for early cardiac diseases diagnosis , technological advancements in wearable ECG devices, increasing proportion of aging population, increasing healthcare infrastructure and growing geographical presence of diagnostic ECG manufacturers globally.

“Resting ECG Devices segment to dominate diagnostic electrocardiogram (ECG) market during the forecast period.”

Based on product type, the diagnostic ECG market is segmented into devices and software & Services . The devices segment is categorized into resting ECG devices, stress ECG devices, Holter monitors, event monitors, implantable loop recorders, mobile cardiac telemetry devices, and smart ECG devices. The resting ECG devices segment captured the largest share of diagnostic ECG market in 2022 attributed to the increasing availability of cost effective resting ECG devices and wider adoption of resting ECG devices in hospital settings.

“12 lead , by lead type , accounted for the largest market share of global diagnostic electrocardiogram (ECG) market in 2022.”

Based on lead type, the diagnostic electrocardiogram (ECG) market is segmented into patch type 12-lead, 5-lead, 3-lead, 6-lead, single lead, and other lead types (such as 13 lead, 18- lead). In 2022, the 12-lead segment accounted for the largest share of the diagnostic ECG market. This is mainly attributed to higher clarity obtained by using a larger number of leads; 12-lead ECG devices provide a highly detailed outlook, making it easier to interpret cardiac electrical activity.

“The hospitals, clinics, and cardiac centers to dominate the global electrocardiogram ECG market in 2022.”

Based on end user, the diagnostic electrocardiogram (ECG) market is segmented into hospitals, clinics, and Cardiac Centers, ambulatory surgical centers, and other end users. The hospitals, clinics, and Cardiac Centers segment accounted for the largest share of the global market in 2022 attributed to the increasing prevalence of cardiovascular diseases, establishment of cardiac centers, and increasing government funding to expand and improve the services offered by hospitals.

“The APAC market, by region, to register highest growth rate in the forecast period.”

On the basis of region, the diagnostic electrocardiogram (ECG) market is segmented into North America, Europe, Asia Pacific, and the Rest of the World. North America holds the largest share and expects to dominate the diagnostic ECG market. The Asia-Pacific market is likely witnessing significant growth owing to increase in disposable income and increase in cardiovascular patient pool. Rising penetration of advanced diagnostic ECG in hospitals, and growing healthcare expenditure

A breakdown of the primary participants referred to for this report is provided below:

By Company Type: Tier 1–48%, Tier 2–36%, and Tier 3– 16%

By Designation: C-level–10%, Director-level–14%, and Others–76%

By Region: North America–40%, Europe–32%, Asia Pacific–20%, Latin America–5%, MEA- 3%

The prominent players in the diagnostic electrocardiogram (ECG) market are GE HealthCare (US), Koninklijke Philips N.V. (Netherlands), Nihon Kohden Corporation (Japan), OSI Systems, Inc. (US), Hill-Rom Holdings, Inc. (Baxter International Inc.) (US), Mindray Medical International Limited (China), SCHILLER AG (Switzerland), Bittium Corporation (Finland), Fukuda Denshi Co., Ltd. (Japan), BPL Medical Technologies Pvt. Ltd. (India), among others.

Research Coverage

This report studies the diagnostic electrocardiogram (ECG) market based on product type, lead type, end-user, and region. It also covers the factors affecting market growth, analyzes the various opportunities and challenges in the market, and provides details of the competitive landscape for market leaders. Furthermore, the report analyzes micro markets with respect to their individual growth trends and forecasts the revenue of the market segments with respect to four main regions (and the respective countries in these regions).

Reasons to Buy the Report

The report will enable established firms as well as entrants/smaller firms to gauge the pulse of the market, which, in turn, would help them to garner a larger market share. Firms purchasing the report could use one or a combination of the below-mentioned strategies to strengthen their market presence.

This report provides insights on the following pointers:

Analysis of key drivers ( rising prevalence of cardiovascular diseases, increasing geriatric population growing demand for remote monitoring, technological advancements in wireless ECG devices ) restraints (stringent regulatory approvals delaying the approval of diagnosis ECG devices ), opportunities (rising healthcare expenditure across developing countries, high growth offered by emerging markets), and challenges (lack of skilled professional) influencing the growth of diagnostic electrocardiogram (ECG) market

Market Penetration: Comprehensive information on the product portfolios offered by the top players in the diagnostic electrocardiogram (ECG) market

Product Development/Innovation: Detailed insights on the upcoming trends, R&D activities, and product launches in the diagnostic electrocardiogram (ECG) market

Market Development: Comprehensive information on lucrative emerging regions

Market Diversification: Exhaustive information about new products, growing geographies, and recent developments in the diagnostic electrocardiogram (ECG) market

Competitive Assessment: In-depth assessment of market segments, growth strategies, revenue analysis, and products of the leading market players.