Electrocardiograph Market Global Strategies and Insights Driven Transformation 2021-2030

The Global Electrocardiograph (ECG) Market size valued to USD 5.37 billion in 2019, is predicted to garner USD 8.87 billion by 2030, with a CAGR of 4.60% from 2020-2030.

Electrocardiograph is a non-invasive medical test that represents the electrical activity of heart over a time span. In this test electrodes are placed on the skin to give a graph of voltage versus time; detecting the small electrical changes occurring due to depolarization and repolarization of the cardiac muscle during each cardiac cycle. Changes in the normal ECG pattern occur in numerous cardiac abnormalities such as cardiac rhythm disturbances, inadequate coronary artery blood flow, and electrolyte disturbances.

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Top Companies: Nihon Kohden Corporation, Schiller AG, GE Healthcare, Koninklijke Philips N.V., Opto Circuits Limited, Johnson and Johnson, Mindray Medical International Limited, OSI Systems Fukuda Denshi Co Ltd., Mortara Instrument, Inc and others.

Market Dynamics and Trends

The global Electrocardiograph (ECG) market has witnessed a substantial growth in past few years and is expected to grow at a considerable rate throughout the forecast period, owing to constantly multiplying incidences of casualties due to Cardiovascular Diseases (CVDs). According to the World Health Organization, more than 17.9 million died of Cardiovascular diseases in the year 2016, world-wide. This scenario augments the demand for advanced healthcare facilities offering proper diagnosis, treatment and monitoring of CVDs, hence propagating the market growth.

Besides, factors such as advancements in ECG technologies, growing number of geriatric populations, and development in healthcare infrastructures, are anticipated in supplementing the market growth throughout the forecast period. Furthermore, the behavioural risk factors such as tobacco consumption, unhealthy food-habits, obesity issues, physical inactivity and alcohol consumption at individual level, are expected to bring an upsurge in the global electrocardiograph (ECG) market, in coming future

However, cost-effectiveness of premium ECG devices, unfavourable reimbursement policies, and increase in market saturation specifically in the North-America region, are the factors responsible in hampering the electrocardiograph (ECG) market growth during the forecast period.

Moreover, factors such as favourable government initiatives for public welfare, increase in R&D activities and new product launches by the market players, as well as introduction of remote monitoring devices for comprehensive ECG monitoring, are expected to create ample of growth opportunities in the global electrocardiograph (ECG) market in coming future.

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Market Segmentations and Scope of the Study:

The electrocardiograph (ECG) market share analysis is based on product, technology, lead type, end user, and geography.

Based on product, the market is segmented into monitoring ECG systems and diagnostic ECG systems. The monitoring ECG systems segment is further categorized into data monitoring, monitoring, and cardiovascular monitoring. The diagnostic ECG systems segment is further divided into rest ECG systems, stress ECG systems, and Holter ECG systems. Based on technology, the market is segmented into portable ECG systems and wireless ECG systems. Based on lead type, the market is segmented into the single lead, 3-6 lead, and 12-lead. Based on the end user, the market is segmented into hospitals & clinics, home settings & ambulatory surgical centers (ASCs), and others. Geographic breakdown and analysis of each of the previously mentioned segments include regions comprising North America, Europe, Asia-Pacific, and RoW.

Geographical Analysis

Asia-Pacific region denotes a higher adoption of the electrocardiograph (ECG) and is anticipated to hold the highest market share in the electrocardiograph (ECG) market, during the forecast period. This is attributable to the factors including the increase in developments in the healthcare system, increasing disposable income, favorable government policies, high population base, and large untapped potential market in this region.

North America region would witness increasing market size in the global electrocardiograph (ECG) market, owing to the presence of well-established healthcare facilities, high consumer awareness, and technological advancements.

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