The Global Electrocardiograph Market is forecast to reach USD 9.44 Billion by 2028, according to a new report by Reports and Data. Driving factors like the rising prevalence of the cardiovascular diseases is one of the integral factors for growth and expansion of the Electrocardiograph [ECG] market.
The Global Electrocardiograph Market is forecast to reach USD 9.44 Billion by 2028, according to a new report by Reports and Data. Driving factors like the rising prevalence of the cardiovascular diseases is one of the integral factors for growth and expansion of the Electrocardiograph [ECG] market. Apart from that, in recent years, the healthcare industry is witnessing technological development like coming up with different monitoring devices and smart wearable monitors, which is propelling the growth of the market. Some of these revolutionary advancements in the healthcare monitoring devices are smart wearable ECG monitors, portable devices, and incorporation of artificial intelligence in the care services. Such technological advancements in the healthcare sector are boosting the ECG market. Increase in healthcare expenditure and the rise in the geriatric population is also obsreved to boost the market growth during the forecast period.
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Another major contributing factor, which is boosting the growth of this market is the increase in the obesity rate and the associated rise in the occurrence rate of cardiovascular diseases. Such an increase in the occurrence rate of cardiovascular disease has resulted in increasing emergency hospital admissions, raising the burden on hospitals, and lengthy hospital stays that in turn is increasing the demand for ECG market. The association of increased demand for ECG with the rise in cardiovascular diseases is because, ECG helps in recording the electrical activity of heartbeat during a particular period. The mentioned elemental trait of ECG is essential in monitoring the cardiovascular condition and provide with necessary care services, which contributes to the growth of the market.
An electrocardiograph (ECG) is an instrument that records electric activity of the heart. Increasing incidence of cardiovascular diseases such as stroke, ischemic heart disease, atrial fibrillation, heart failure, peripheral artery diseases, and other complications and rising need for cardiac monitoring devices is boosting demand for electrocardiographs. Increasing adoption of sedentary lifestyle, increasing geriatric population, unhealthy eating habits, excess consumption of alcohol and availability of advanced EGC devices, and high adoption of ambulatory surgical centers are boosting global market growth. In addition, improving healthcare infrastructure, favorable reimbursement scenario, and increasing healthcare expenditure are also fueling market revenue growth. Favorable government support, improving healthcare facilities, and increasing investments to develop enhanced products are expected to fuel global market growth in the coming years.
Companies considered and profiled in this market study:
Mortara Instrument, INC., GE Healthcare (General Electric Company), Mindray Medical International Limited, Medtronic, OPTO Circuits Limited, OSI Systems Fukuda Denshi CO LTD, Philips Healthcare (Koninklijke Philips N.V.), Schiller AG, Spacelabs Healthcare and Nihon Kohden Corporation.
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Key highlights in the report
- Among the lead type, the 3-6 lead segment is expected to account for significant revenue growth between 2021 and 2028. Ability of 3-6 lead to rapidly identify injury, low cost, and high-efficiency rate are key factors fueling market growth.
- Based on device type, the Holter monitor segment is expected to account for steady revenue growth over the forecast period owing to factors such as portability, increasing demand for ambulatory centers, 24-48 hour patient monitoring and high adoption of Holter monitors in these services.
- The smart wearable ECG monitors segment is projected to register highest revenue CAGR over the forecast period. Factors such as increasing prevalence of cardiovascular diseases, rising healthcare awareness, increasing need for tracking conditions of the heart, and cost-effectiveness of the product are fueling segment revenue growth.
- The hospital segment is projected to account for largest revenue share throughout the forecast period. Increasing prevalence of cardiovascular diseases, well-developed infrastructure, and availability of advanced equipment are booting segment revenue growth.
- Electrocardiograph market in North America is expected to account for largest revenue growth during the forecast period. Rising incidence of cardiovascular diseases, well-established healthcare infrastructure, availability of advanced EGC monitoring devices and portable EGC devices, and increasing investments in R&D are key factors fueling market growth.
- Asia Pacific is projected to register highest CAGR over the forecast period. Factors such as rising geriatric population, improving healthcare systems, increasing cases of various cardiovascular diseases, and rising per capita income are boosting market revenue growth.
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For this study, Reports and Data has segmented the global electrocardiograph market based on device, technology, lead type, application, end-use, and region:
Device Type Outlook (Revenue, USD Billion, 2020 - 2028)
- Stress ECG
- Holter Monitors
- Wireless Holter Monitors
- Wired Holter Monitors
- Resting ECG
Technology Type Outlook (Revenue, USD Billion, 2020 - 2028)
- Automatic Diagnosis and Anatomical Detection
- Mobile Cardiac outpatient telemetry (MCT/MCOT)
- Electronic ECG management system
- Smart Wearable ECG Monitors
- Artificial Intelligence
Lead type Outlook (Revenue, USD Billion, 2020 - 2028)
- Single Lead
- 3-6 Lead
- 12-Lead
Distribution channel Type Outlook (Revenue, USD Billion, 2020 - 2028)
- Offline
- Online
Application Type Outlook (Revenue, USD Billion, 2020 - 2028)
- Atrial Fibrillation
- Ventricular Fibrillation
- Myocardial ischemia
- Myocardial infarction
- Hyperkalemia
- Hypokalemia
End-use Outlook (Revenue, USD Billion, 2020 - 2028)
- Hospitals
- Ambulatory Surgical Centers
- Homecare Settings
Regional Outlook (Revenue, USD Billion, 2020 - 2028)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- U.K.
- France
- Spain
- Italy
- Rest Of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- UAE
- South Africa
- Rest of MEA
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This study aims to define market sizes and forecast the values for different segments and countries in the coming eight years. The study aims to include qualitative and quantitative perspectives about the industry within the regions and countries covered in the report. The report also outlines the significant factors, such as driving factors and challenges, that will determine the market’s future growth.
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