The global electrocardiograph market size is expected to reach USD 9.44 Billion in 2028 and register a CAGR of 5.8%, according to the latest report by Reports and Data. Advancements in the healthcare sector, introduction of portable devices, and increasing adoption of Artificial Intelligence (AI) in medical devices are key factors driving global market revenue growth.
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.
Market Overview:
The pharma and healthcare industry is at a crossroads. Patients are benefiting from the promise of cell and gene therapies; uncommon diseases that were previously thought to be incurable are on the verge of finding true treatments. Artificial intelligence (AI) and machine-learning technologies are creating hopes that therapy discovery and development would be more innovative, as well as faster and cheaper. Manufacturing, the supply chain, and the entire healthcare ecosystem all have the potential to benefit from data-driven initiatives. Consumer attitudes and behaviours are shifting in a variety of ways, from growing use of technology and willingness to share data to an interest in using tools to make prescription and treatment decisions. Such factors will drive pharma and healthcare market growth in the coming years.
Some key highlights of 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.
- 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 are leading companies operating in the global electrocardiograph market.
Key Players covered in this report are
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.
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
Major Points covered in this report are as below:
The Global Electrocardiograph Market industry development trends and marketing channels are analyzed. The feasibility of new investment projects are assessed and overall research conclusions offered.
With the tables and figures, the report provides key statistics on the state of the industry and is a valuable source of guidance and direction for companies and individuals interested in the market.
Development policies and plans, manufacturing processes and cost structures are also analyzed. This report also states import/export consumption, supply and demand figures, cost, price, revenue and gross margins.
The Global Electrocardiograph Market Market report provides key statistics on the market status of the Global Electrocardiograph Market manufacturers and is a valuable source of guidance and direction for companies and individuals interested in the industry.
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