Market Analysis
The global diagnostic
electrocardiograph (ECG) market is likely to touch USD 10,487.24 million at
a 6.72% CAGR between 2019- 2025, as per the recent report by Market Research
Future (MRFR). Diagnostic electrocardiograph, simply put, is a test that is
utilized to detect electrical signals which the heart produces each time it
beats. Smart ECG monitors, Holter monitors, event monitors, mobile cardiac
telemetry devices, implantable loop recorders, stress ECG devices, and resting
ECG devices are the different types of the diagnostic electrocardiograph.
Various factors are adding to the
global diagnostic electrocardiograph market growth. Such factors, according to
the new MRFR report, include increasing expenditure by market players in
research and development to create novel ECG devices, technological advances in
wearable devices and wireless monitoring, and an increase in the rate of
lifestyle diseases. Additional factors adding market growth include the
developing healthcare infrastructure, increasing geriatric population, and
rising cases of cardiovascular diseases.
On the contrary, irregular
reimbursement policies, uncertainty in economic circumstances and market
saturation, and scarcity of skilled professionals are factors that may limit
the diagnostic electrocardiograph market growth over the forecast period
Market Segmentation
The MRFR report offers an inclusive
segmental analysis of the global diagnostic electrocardiograph market report
based on end user, product type, and lead type.
By product type, the diagnostic
electrocardiograph market is segmented into smart ECG monitors, Holter
monitors, event monitors, mobile cardiac telemetry devices, implantable loop
recorders, stress ECG devices, and resting ECG devices. Of these, the resting
ECG devices segment will lead the market over the forecast period for its
increasing use in hospitals worldwide.
By lead type, the diagnostic
electrocardiograph market is segmented into single-lead ECG devices, 6-lead ECG
devices, 3-lead ECG devices, 5-lead ECG devices, and 12-lead ECG devices. Of
these, the 3-lead ECG devices segment will dominate the market over the
forecast period for its wide applications in various cardiac diagnostic
tests.
By end user, the diagnostic
electrocardiograph market is ambulatory surgical centers, hospitals and
clinics, and others. Of these, the ambulatory surgical centers segment will
have a major share in the market over the forecast period for its ample
recognition in developing countries.
Regional Analysis
Based on the region, the global
diagnostic electrocardiograph market report covers the recent trends and growth
opportunities across the Americas, Europe, the Asia Pacific (APAC), and the
Middle East and Africa (MEA). Of these, the Americas will have lions share in
the market over the forecast period. Surging demand for medical devices coupled
with rising cases of cardiovascular diseases like arrhythmia and stroke, are
adding to the growth of the market in the region.
The global diagnostic electrocardiograph
market in Europe is predicted to hold the second-largest share over the
forecast period. Rising acceptance of new diagnostic products and increasing
geriatric population are adding to the growth of the market in the
region.
The global diagnostic
electrocardiograph market in the APAC region is predicted to grow at a fast
pace over the forecast period. Rising prevalence of heart diseases like stroke
and increasing per capita disposable income are the factors that are adding to
the market growth in the region.
The global diagnostic
electrocardiograph market in the MEA is predicted to have steady growth over
the forecast period. The increasing burden of cardiac diseases and gradually
developing healthcare infrastructure are factors that are adding to the market
growth in the region.
Key Players
Eminent players profiled in the
global diagnostic electrocardiograph market report include VectraCor, Inc.
(US), Innomed Medical Inc. (Hungary), Norav Medical (US), Cardioline SpA
(Italy), Edan Instruments, Inc. (China), BTL (US), Fukuda Denshi (Japan), BPL
Medical Technologies (India), ACS Diagnostics (US), Schiller (Switzerland),
Shenzhen Mindray Bio-Medical Electronics Co., Ltd (China), Hillrom Services,
Inc. (US), Nihon Kohden Corporation (Japan), Koninklijke Philips N.V.
(Netherlands), and General Electric Company (US).
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