Electrocardiogram (ECG) Devices Market Size, By Product (Diagnostic ECG Machines {Resting ECG, Stress ECG} Monitoring ECG Devices {Holter Monitoring, Implantable Cardiac Monitors, ECG Telemetry Monitoring / Event Monitoring}), By Lead Type (Single Lead Ty

Electrocardiogram (ECG) Devices Market Size, By Product (Diagnostic ECG Machines {Resting ECG, Stress ECG} Monitoring ECG Devices {Holter Monitoring, Implantable Cardiac Monitors, ECG Telemetry Monitoring / Event Monitoring}), By Lead Type (Single Lead Type, 3 Lead Type, 6 Lead Type, 12 Lead Type), By Portability (Portable Device, Non-portable Device), By End-use (Hospitals & Clinics, Diagnostic Centers, Ambulatory Surgical Centers, Home Care Settings), COVID-19 Impact Analysis, Industry Analysis Report, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2023 - 2032

Electrocardiogram (ECG) Devices Market is anticipated to expand substantially through 2032, primarily owing to the ongoing technical upgradation in ECG devices. These innovations are expected to assist healthcare professionals in treating and diagnosing patients accurately.

Besides, ECG helps measure the rhythm and heart rate, axis of the heart, and state of myocardial muscle, preventing heart attacks by analyzing heart parameters during the initial stage. Increasing health concerns among the general populace will fuel the market demand.

The constantly surging adoption of mobile and telemetry cardiac monitors, along with the rising investments made by the key players in R&D initiatives to develop and innovate technologically advanced electrocardiogram (ECG) devices, will drive market growth.

For instance, Samsung has announced built-in ECGs in its Galaxy Watch Active 2 and newer smartwatches. Reportedly, the owners of Galaxy Watch 5 and Galaxy Watch 5 Pro in Malaysia can use the Samsung Health Monitor app on their smartphones to analyze their ECG and blood pressure, enabling them to diagnose heart-related issues earlier and consult a doctor for possible remedies.

Overall, the electrocardiogram (ECG) devices industry is segmented in terms of product, lead, portability, end-use, and region.

Based on the product, the monitoring ECG devices segment would witness strong demand during the forecast timeframe owing to advantages such as diagnosing heart problems, monitoring heart function, and recording the electrical activity of heart for a prolonged period. In addition, the constant innovations in monitoring devices resulting in the introduction of easy-to-use and convenient wearable products will further stimulate market growth.

In terms of the lead, the single lead type segment accounted for over 8.5% market share in 2022. The segment will register sturdy growth owing to the rising government initiatives to improve patient care through faster diagnosis. Besides, single-lead ECG monitoring is being increasingly favored for recording ECG with handheld or wearable devices, which will further bolster the market.

Considering the portability, the portable device segment will grow considerably through 2032 owing to the increasing adoption of ECG devices for patients, along with better accuracy and faster outcomes. In addition, the easy accessibility of data to the patient and the installation of the latest technology in products will boost the market demand.

Based on end-use, the hospitals & clinics segment accounted for over 51% market share in 2022. The segmental growth will be driven by the rising prevalence of cardiovascular diseases, resulting in increased demand for ECG devices in hospitals & clinics.

Regionally, the North America electrocardiogram devices industry registered over 33.5% market share in 2022 and will further expand through 2032. Supporting government initiatives, increasing awareness regarding early-stage disease diagnosis, and developing technologically advanced ECG will propel regional market growth during the estimated timeframe.