Electrocardiograph (ECG) Market Overview
Electrocardiograph (ECG) market was valued at USD 8.60 billion in 2023 and is expected to reach USD 16.08 billion by the year 2032, at a CAGR of 7.2%.
An electrocardiogram (ECG) is a test used to inspect the functioning of the heart by measuring the electrical activity of the heart. An ECG measures and registers the electrical activity that goes through the heart. An ECG may be suggested if a patient is feeling arrhythmia, chest pain, or palpitations, and an abnormal ECG result can be a signal of several different heart conditions. The key factors bolstering the market growth include increasing cases of cardiovascular diseases, increasing usage of remote monitoring devices, and rapid technological advancements. Moreover, the geriatric population that is more prone to chronic diseases is expected to increase in the coming years, which may ultimately lead to increased demand for electrocardiographs.
Additionally, key players in the ECG market are focusing on frequent product developments and approvals, which may substantially drive the market growth during the forecast period. For instance, in 2019, the US Food and Drug Administration (FDA) approved Verily's Study Watch, a wearable medical device that conducts electrocardiograms (ECGs), which measure the electrical activity of the heart and can be used to diagnose several heart conditions. The FDA acknowledged a 510(k) clearance to the watch, segmented it as a Class II medical device for its on-demand ECG feature, which records, stores, transfers, and displays single-channel ECG rhythms. The constant improvement and up-gradation of exiting marketed ECG devices are also anticipated to improve the accuracies by reducing the incidence of false alarms. Furthermore, with a rise in the approval of devices worldwide, the adoption rate is expected to increase over the forecast period.
Market Dynamics And Factors
Drivers
Increasing Usage Of Remote Monitoring Devices
The demand for remote monitoring devices has increased over the past few years, which can be attributed to the increased geriatric population and growing burden of chronic diseases worldwide. Remote ECG monitoring systems are gradually becoming conventional medical devices for heart monitoring. In recent years, remote ECG monitoring systems have been adopted to monitor arrhythmia, tachycardia, and bradycardia heart conditions, and the quality of the conduction and reception of the ECG signals during the process has advanced. As per a 2021 article, 'Home Monitoring of Cardiac Devices in the Era of COVID-19', remote patient monitoring (RPM) technology remained underutilized secondary to a lack of data transparency and systems issues until the COVID-19 outbreak leads to a new era of telehealth and virtual solutions out of requirements. The advancements in integrated circuits and wireless communications have led to the design and fabrication of low-cost, powerful, and intelligent physiological data acquisition devices. There is a trend of replacing Holter monitors with inexpensive wearable or smartphone-based ECG monitors such as preferable event monitors that remain active for a month. Thus, the increasing usage of remote monitoring devices is one of the major driving factors for the studied market.
Rapid Technological Advancements
There have been constant technological developments in the field of electrocardiographs (ECG). As technology improves, it seems likely that a substantial proportion of chronic diseases will be tackled by this approach, which makes it an attractive option for both physicians and patients. ECG devices upgrade the patients' quality of life by allowing them to move around freely while undergoing continuous heart monitoring and reduce healthcare costs associated with prolonged hospitalization, treatment, and monitoring. Market players are adopting various growth strategies and are also focusing on the launch of advanced wireless devices in the market. For instance, in June 2020, the FDA expanded guidance on remote monitoring devices for COVID-19, which may address the emergency of the coronavirus (COVID-19) pandemic by allowing modifications that may increase access to important patient physiological data without the need for in-clinic visits, as well as facilitating outpatient management. Thus, the advent of technology may propel the growth of the electrocardiograph (ECG) market during the forecast period.
Restraints:
Some emerging countries have cost-effective factors, doctors are exacted to use traditional ECG devices instead of the latest high-end devices. Thus, high costs for purchasing and maintaining, and poor technical skills are hampering the growth of the market in emerging regions. In developed economies, the new sales are almost equal to the replacement rate because of already well-established infrastructure.
Moreover, need awareness among people regarding the usage of electrograph for the diagnosis of cardiovascular diseases, lack of skilled personnel for the operation of electrograph devices, and adverse reimbursement policies are other key factors expected to restraint the growth of the global diagnostic electrocardiograph (DECG) market.
Opportunities:
The rising number of chronic diseases worldwide is the major concerning factor, due to which many key players are investing highly in this sector. The rising investments in the healthcare sector are allowing healthcare companies to come up with advanced technologies.
There has been a growth in the incidence of heart diseases that require long-term ECG monitoring, which was earlier possible only in hospitals. However, with the wireless ECG introduction, doctors can monitor and diagnose patient's information remotely for years and more frequently. There are many cost-effective and efficient ECG devices coming up in the market in the recent few years with the involvement of information technology in healthcare facilities, which bolsters the adoption of these devices among consumers.
The future is anticipated to be bright, especially in the developed markets, with the continuous evolvement in the currently trending wireless ECG devices, such as ECG necklace (ALiveCor, HeartCheck Pen, MD 100E, and Dimetek), ECG strips, and mobile phone ECG. Also, an upcoming project involves nanosensors embedded in smart wear/ nanotechnology, which acts as digital polymers and soft electronics biosensors. Therefore, it can be inferred that there is significant scope for improvements in the sensor technologies currently being used, which is expected to drive market growth in the future.
COVID-19 Impact on Electrocardiograph (ECG) Market
The COVID-19 outbreak continues to change the growth of some markets, and the significant impact of the outbreak is varied. In this period, some of the sectors may account for a fall in demand, numerous other markets may continue to remain unscathed and show promising growth opportunities. Moreover, the effects of the disease on public health, there is also the collateral effect of near‐universal interruptions and cancelation of surgical services. This has unprecedented implications on surgical services and patients with surgical conditions.
Further, standard electrocardiography (ECG) is a recommended diagnostic test for all COVID-19 affected patients because virus infection and pneumonia increase the risk of rhythm disturbance and acute coronary syndrome. Moreover, ECGs are also helpful in evaluating the cardiac toxicity of antibiotics prescribed to COVID-19 patients. Further, the February 2020 case report in the Journal of the American Medical Association (JAMA) identified those complications in 16.7% and 7.2% of hospitalized patients, respectively; hence, physicians have found ECG an essential tool to monitor cardiac complications in patients, which may generate demand and have a positive impact on the market growth.
Market Segmentation
Segmentation Insights
Based on Product, the rest ECG systems segment held the major share of USD 1993.26 million of the market in 2020, and it may witness a high CAGR over the forecast period. Rest ECG is most widely used in clinical routines of all kinds; however, testing systems are evolving continuously. There has been a trend over the past decade toward smaller, more compact, mobile ECG monitoring systems, which are likely to drive the demand for wireless resting ECG systems. There are also various recent advances seen in ECG stress testing systems that include better waveform analysis algorithms, improved connectivity with electronic medical records, and wireless lead systems to untether patients from the machines. These advances have helped the growth of the overall market.
Based on Technology, the wireless ECG systems segment is expected to witness the fastest growth, with a high CAGR over the forecast period. Portable ECG systems are used to diagnose an arrhythmia, which provides full disclosure ECG signal, complete data, analysis, comprehensive reporting, and allows for heart monitoring at home. Thus, the aforementioned factors are expected to contribute to the overall segment growth over the forecast period. The demand for wireless ECG systems is increasing due to the growing geriatric population, increasing incidence of cardiovascular diseases, declining cost of wireless technologies, and technological advancements in remote monitoring technologies.
Based on Lead Type, the 12 lead ECG segment held the major share of USD 2980.59 million of the market in 2020, and it may witness a high CAGR over the forecast period. The standard 12-lead electrocardiogram is a representation of the heart's electrical activity recorded from electrodes on the body surface. It is the most widely used tool for the early diagnosis of heart diseases. Different wireless, single-lead real-time electrocardiogram devices are commercially available for efficient screening, monitoring, and on-demand diagnosis. 1-lead ECG recorders are primarily used for basic heart monitoring, checking for various arrhythmias, or simple educational or research purposes.
Based on End-Users, the hospital's segment accounted for the largest share in the market. In 2019, the hospitals, clinics, & cardiac care centres segment registered for the highest share of the market. The highest share of this segment can especially be attributed to the rising burden of cardiovascular diseases, which, in demand, is growing the need for quality cardiology care and rising the number of patient visits to physician offices for the diagnosis of CVD, and the availability of reimbursements for Holter & event monitors over developed markets.
Regional Insights
The North American region dominates the market, followed by the Asia Pacific and Europe. In North America, the United States is expected to hold the major share of the market studied. The United States holds the largest share in the Electrocardiograph (ECG) market, which is majorly due to the high adoption of advanced technologies and the increasing trend for home health care monitoring, and the rising incidence of cardiovascular diseases. The electrocardiograph market in Germany is growing due to rising healthcare expenditure, and the increasing prevalence of cardiovascular diseases is fuelling the market growth.
In Europe, advancing technologies, growing economies, and increasing healthcare spending will offer vast growth potential for international market players, which may drive Europe's overall market during the forecast period.
In the Asia Pacific, China, one of the primary factors for the electrocardiograph market's growth is the increasing burden of cardiovascular diseases and well-established healthcare infrastructure. Additionally, rising government initiatives to aware the populous about chronic diseases may help the market to boost in the APAC region.
Key Industry Developments
- In March 2018, Biotelemetry purchased Geneva Healthcare to build up its position in the remote cardiac monitoring devices market.
- In May 2018, GE Healthcare partnered with Preventice Solutions (US) to expand GE's ECG services into home settings, supplying observing for ambulatory ECG patients.
- In March 2018, Philips Healthcare started IntelliSpace Cardiovascular 3.1 upon its cardiovascular product portfolio.
Players Covered in Electrocardiograph (ECG) market are :
- Philips Healthcare (Netherlands)
- GE Healthcare (United States)
- Medtronic (Ireland)
- Siemens Healthineers (Germany)
- Nihon Kohden Corporation (Japan)
- Schiller AG (Switzerland)
- Mindray Medical International Limited (China)
- Fukuda Denshi Co., Ltd. (Japan)
- Hillrom (United States)
- Cardioline SpA (Italy)
- Edan Instruments, Inc. (China)
- Spacelabs Healthcare (United States)
- Welch Allyn (United States)
- AliveCor (United States)
- Bionet Co., Ltd. (South Korea)
- QRS Diagnostic (United States)
- ZOLL Medical Corporation (United States)
- Norav Medical (Israel)
- Eccosur (Argentina)
- Dawei Medical (China)
- Guangdong Biolight Meditech Co., Ltd. (China)
- Suzuken Co., Ltd. (Japan)
- VectraCor, Inc. (United States)
- Eko Devices (United States)
- Thermo Fisher Scientific (United States), and Other Active Players
Key Industry development –
In June 2024, Toyota Tsusho Corporation has unveiled "LOTUS HEART," Japan's first compact electrocardiograph with telecommunication capabilities, enabling continuous long-term ECG monitoring and remote data analysis via the cloud. Launching in July alongside a community healthcare initiative in Nagoya, the device aims to detect atrial fibrillation early, a major cause of strokes, by streamlining diagnostics and enhancing local healthcare services, contributing to healthier life expectancy.
In June 2024, AliveCor has announced FDA clearance and the launch of KAI™ 12L AI technology and the Kardia™ 12L ECG System, the world’s first AI-powered handheld 12-lead ECG system capable of detecting 35 cardiac determinations, including heart attacks, using a reduced leadset. With its portability, simplicity, and groundbreaking AI, Kardia 12L aims to transform cardiac care by expanding access to advanced diagnostics in under-resourced and rural healthcare settings.
Electrocardiograph (ECG) Market |
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Base Year: |
2023 |
Forecast Period: |
2024-2032 |
Historical Data: |
2017 to 2023 |
Market Size in 2023: |
USD 8.60 Bn. |
Forecast Period 2024-32 CAGR: |
7.2% |
Market Size in 2032: |
USD 16.08 Bn. |
Segments Covered: |
By Type |
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By Technology |
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By Lead Type |
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By End Users |
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By Region |
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Key Market Drivers: |
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Key Market Restraints: |
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Key Opportunities: |
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Companies Covered in the report: |
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Chapter 1: Introduction
1.1 Research Objectives
1.2 Research Methodology
1.3 Research Process
1.4 Scope and Coverage
1.4.1 Market Definition
1.4.2 Key Questions Answered
1.5 Market Segmentation
Chapter 2:Executive Summary
Chapter 3:Growth Opportunities By Segment
3.1 By Type
3.2 By Technology
3.3 By Lead Type
3.4 By End-User
Chapter 4: Market Landscape
4.1 Porter's Five Forces Analysis
4.1.1 Bargaining Power of Supplier
4.1.2 Threat of New Entrants
4.1.3 Threat of Substitutes
4.1.4 Competitive Rivalry
4.1.5 Bargaining Power Among Buyers
4.2 Industry Value Chain Analysis
4.3 Market Dynamics
3.5.1 Drivers
3.5.2 Restraints
3.5.3 Opportunities
3.5.4 Challenges
4.4 Pestle Analysis
4.5 Technological Roadmap
4.6 Regulatory Landscape
4.7 SWOT Analysis
4.8 Price Trend Analysis
4.9 Patent Analysis
4.10 Analysis of the Impact of Covid-19
4.10.1 Impact on the Overall Market
4.10.2 Impact on the Supply Chain
4.10.3 Impact on the Key Manufacturers
4.10.4 Impact on the Pricing
Chapter 4: Electrocardiograph (ECG) Market by Type
4.1 Electrocardiograph (ECG) Market Overview Snapshot and Growth Engine
4.2 Electrocardiograph (ECG) Market Overview
4.3 Rest ECG Systems
4.3.1 Introduction and Market Overview
4.3.2 Historic and Forecasted Market Size (2017-2032F)
4.3.3 Key Market Trends, Growth Factors and Opportunities
4.3.4 Rest ECG Systems: Grographic Segmentation
4.4 Stress ECG Systems
4.4.1 Introduction and Market Overview
4.4.2 Historic and Forecasted Market Size (2017-2032F)
4.4.3 Key Market Trends, Growth Factors and Opportunities
4.4.4 Stress ECG Systems: Grographic Segmentation
4.5 Holter ECG Systems
4.5.1 Introduction and Market Overview
4.5.2 Historic and Forecasted Market Size (2017-2032F)
4.5.3 Key Market Trends, Growth Factors and Opportunities
4.5.4 Holter ECG Systems: Grographic Segmentation
4.6 Event Recorders
4.6.1 Introduction and Market Overview
4.6.2 Historic and Forecasted Market Size (2017-2032F)
4.6.3 Key Market Trends, Growth Factors and Opportunities
4.6.4 Event Recorders: Grographic Segmentation
4.7 Other Products
4.7.1 Introduction and Market Overview
4.7.2 Historic and Forecasted Market Size (2017-2032F)
4.7.3 Key Market Trends, Growth Factors and Opportunities
4.7.4 Other Products: Grographic Segmentation
Chapter 5: Electrocardiograph (ECG) Market by Technology
5.1 Electrocardiograph (ECG) Market Overview Snapshot and Growth Engine
5.2 Electrocardiograph (ECG) Market Overview
5.3 Portable ECG Systems
5.3.1 Introduction and Market Overview
5.3.2 Historic and Forecasted Market Size (2017-2032F)
5.3.3 Key Market Trends, Growth Factors and Opportunities
5.3.4 Portable ECG Systems: Grographic Segmentation
5.4 Wireless ECG Systems
5.4.1 Introduction and Market Overview
5.4.2 Historic and Forecasted Market Size (2017-2032F)
5.4.3 Key Market Trends, Growth Factors and Opportunities
5.4.4 Wireless ECG Systems: Grographic Segmentation
Chapter 6: Electrocardiograph (ECG) Market by Lead Type
6.1 Electrocardiograph (ECG) Market Overview Snapshot and Growth Engine
6.2 Electrocardiograph (ECG) Market Overview
6.3 Single-Lead ECG
6.3.1 Introduction and Market Overview
6.3.2 Historic and Forecasted Market Size (2017-2032F)
6.3.3 Key Market Trends, Growth Factors and Opportunities
6.3.4 Single-Lead ECG: Grographic Segmentation
6.4 3-6 Lead ECG
6.4.1 Introduction and Market Overview
6.4.2 Historic and Forecasted Market Size (2017-2032F)
6.4.3 Key Market Trends, Growth Factors and Opportunities
6.4.4 3-6 Lead ECG: Grographic Segmentation
6.5 12 Lead ECG
6.5.1 Introduction and Market Overview
6.5.2 Historic and Forecasted Market Size (2017-2032F)
6.5.3 Key Market Trends, Growth Factors and Opportunities
6.5.4 12 Lead ECG: Grographic Segmentation
Chapter 7: Electrocardiograph (ECG) Market by End-User
7.1 Electrocardiograph (ECG) Market Overview Snapshot and Growth Engine
7.2 Electrocardiograph (ECG) Market Overview
7.3 Home-Based Users
7.3.1 Introduction and Market Overview
7.3.2 Historic and Forecasted Market Size (2017-2032F)
7.3.3 Key Market Trends, Growth Factors and Opportunities
7.3.4 Home-Based Users: Grographic Segmentation
7.4 Hospitals
7.4.1 Introduction and Market Overview
7.4.2 Historic and Forecasted Market Size (2017-2032F)
7.4.3 Key Market Trends, Growth Factors and Opportunities
7.4.4 Hospitals: Grographic Segmentation
7.5 Other End Users
7.5.1 Introduction and Market Overview
7.5.2 Historic and Forecasted Market Size (2017-2032F)
7.5.3 Key Market Trends, Growth Factors and Opportunities
7.5.4 Other End Users: Grographic Segmentation
Chapter 8: Company Profiles and Competitive Analysis
8.1 Competitive Landscape
8.1.1 Competitive Positioning
8.1.2 Electrocardiograph (ECG) Sales and Market Share By Players
8.1.3 Industry BCG Matrix
8.1.4 Ansoff Matrix
8.1.5 Electrocardiograph (ECG) Industry Concentration Ratio (CR5 and HHI)
8.1.6 Top 5 Electrocardiograph (ECG) Players Market Share
8.1.7 Mergers and Acquisitions
8.1.8 Business Strategies By Top Players
8.2 GE HEALTHCARE
8.2.1 Company Overview
8.2.2 Key Executives
8.2.3 Company Snapshot
8.2.4 Operating Business Segments
8.2.5 Product Portfolio
8.2.6 Business Performance
8.2.7 Key Strategic Moves and Recent Developments
8.2.8 SWOT Analysis
8.3 KONINKLINJE PHILIPS NV
8.4 NIHON KOHDEN CORPORATION
8.5 SCHILLER AG
8.6 OSI SYSTEMS INC. (SPACELABS HEALTHCARE)
8.7 ALIVECOR
8.8 MINDRAY MEDICAL INTERNATIONAL LIMITED
8.9 MEDTRONIC PLC
8.10 HILL-ROM HOLDINGS INC. (WELCH ALLYN)
Chapter 9: Global Electrocardiograph (ECG) Market Analysis, Insights and Forecast, 2017-2032
9.1 Market Overview
9.2 Historic and Forecasted Market Size By Type
9.2.1 Rest ECG Systems
9.2.2 Stress ECG Systems
9.2.3 Holter ECG Systems
9.2.4 Event Recorders
9.2.5 Other Products
9.3 Historic and Forecasted Market Size By Technology
9.3.1 Portable ECG Systems
9.3.2 Wireless ECG Systems
9.4 Historic and Forecasted Market Size By Lead Type
9.4.1 Single-Lead ECG
9.4.2 3-6 Lead ECG
9.4.3 12 Lead ECG
9.5 Historic and Forecasted Market Size By End-User
9.5.1 Home-Based Users
9.5.2 Hospitals
9.5.3 Other End Users
Chapter 10: North America Electrocardiograph (ECG) Market Analysis, Insights and Forecast, 2017-2032
10.1 Key Market Trends, Growth Factors and Opportunities
10.2 Impact of Covid-19
10.3 Key Players
10.4 Key Market Trends, Growth Factors and Opportunities
10.4 Historic and Forecasted Market Size By Type
10.4.1 Rest ECG Systems
10.4.2 Stress ECG Systems
10.4.3 Holter ECG Systems
10.4.4 Event Recorders
10.4.5 Other Products
10.5 Historic and Forecasted Market Size By Technology
10.5.1 Portable ECG Systems
10.5.2 Wireless ECG Systems
10.6 Historic and Forecasted Market Size By Lead Type
10.6.1 Single-Lead ECG
10.6.2 3-6 Lead ECG
10.6.3 12 Lead ECG
10.7 Historic and Forecasted Market Size By End-User
10.7.1 Home-Based Users
10.7.2 Hospitals
10.7.3 Other End Users
10.8 Historic and Forecast Market Size by Country
10.8.1 U.S.
10.8.2 Canada
10.8.3 Mexico
Chapter 11: Europe Electrocardiograph (ECG) Market Analysis, Insights and Forecast, 2017-2032
11.1 Key Market Trends, Growth Factors and Opportunities
11.2 Impact of Covid-19
11.3 Key Players
11.4 Key Market Trends, Growth Factors and Opportunities
11.4 Historic and Forecasted Market Size By Type
11.4.1 Rest ECG Systems
11.4.2 Stress ECG Systems
11.4.3 Holter ECG Systems
11.4.4 Event Recorders
11.4.5 Other Products
11.5 Historic and Forecasted Market Size By Technology
11.5.1 Portable ECG Systems
11.5.2 Wireless ECG Systems
11.6 Historic and Forecasted Market Size By Lead Type
11.6.1 Single-Lead ECG
11.6.2 3-6 Lead ECG
11.6.3 12 Lead ECG
11.7 Historic and Forecasted Market Size By End-User
11.7.1 Home-Based Users
11.7.2 Hospitals
11.7.3 Other End Users
11.8 Historic and Forecast Market Size by Country
11.8.1 Germany
11.8.2 U.K.
11.8.3 France
11.8.4 Italy
11.8.5 Russia
11.8.6 Spain
Chapter 12: Asia-Pacific Electrocardiograph (ECG) Market Analysis, Insights and Forecast, 2017-2032
12.1 Key Market Trends, Growth Factors and Opportunities
12.2 Impact of Covid-19
12.3 Key Players
12.4 Key Market Trends, Growth Factors and Opportunities
12.4 Historic and Forecasted Market Size By Type
12.4.1 Rest ECG Systems
12.4.2 Stress ECG Systems
12.4.3 Holter ECG Systems
12.4.4 Event Recorders
12.4.5 Other Products
12.5 Historic and Forecasted Market Size By Technology
12.5.1 Portable ECG Systems
12.5.2 Wireless ECG Systems
12.6 Historic and Forecasted Market Size By Lead Type
12.6.1 Single-Lead ECG
12.6.2 3-6 Lead ECG
12.6.3 12 Lead ECG
12.7 Historic and Forecasted Market Size By End-User
12.7.1 Home-Based Users
12.7.2 Hospitals
12.7.3 Other End Users
12.8 Historic and Forecast Market Size by Country
12.8.1 China
12.8.2 India
12.8.3 Japan
12.8.4 Southeast Asia
Chapter 13: South America Electrocardiograph (ECG) Market Analysis, Insights and Forecast, 2017-2032
13.1 Key Market Trends, Growth Factors and Opportunities
13.2 Impact of Covid-19
13.3 Key Players
13.4 Key Market Trends, Growth Factors and Opportunities
13.4 Historic and Forecasted Market Size By Type
13.4.1 Rest ECG Systems
13.4.2 Stress ECG Systems
13.4.3 Holter ECG Systems
13.4.4 Event Recorders
13.4.5 Other Products
13.5 Historic and Forecasted Market Size By Technology
13.5.1 Portable ECG Systems
13.5.2 Wireless ECG Systems
13.6 Historic and Forecasted Market Size By Lead Type
13.6.1 Single-Lead ECG
13.6.2 3-6 Lead ECG
13.6.3 12 Lead ECG
13.7 Historic and Forecasted Market Size By End-User
13.7.1 Home-Based Users
13.7.2 Hospitals
13.7.3 Other End Users
13.8 Historic and Forecast Market Size by Country
13.8.1 Brazil
13.8.2 Argentina
Chapter 14: Middle East & Africa Electrocardiograph (ECG) Market Analysis, Insights and Forecast, 2017-2032
14.1 Key Market Trends, Growth Factors and Opportunities
14.2 Impact of Covid-19
14.3 Key Players
14.4 Key Market Trends, Growth Factors and Opportunities
14.4 Historic and Forecasted Market Size By Type
14.4.1 Rest ECG Systems
14.4.2 Stress ECG Systems
14.4.3 Holter ECG Systems
14.4.4 Event Recorders
14.4.5 Other Products
14.5 Historic and Forecasted Market Size By Technology
14.5.1 Portable ECG Systems
14.5.2 Wireless ECG Systems
14.6 Historic and Forecasted Market Size By Lead Type
14.6.1 Single-Lead ECG
14.6.2 3-6 Lead ECG
14.6.3 12 Lead ECG
14.7 Historic and Forecasted Market Size By End-User
14.7.1 Home-Based Users
14.7.2 Hospitals
14.7.3 Other End Users
14.8 Historic and Forecast Market Size by Country
14.8.1 Saudi Arabia
14.8.2 South Africa
Chapter 15 Investment Analysis
Chapter 16 Analyst Viewpoint and Conclusion
Electrocardiograph (ECG) Market |
|||
Base Year: |
2023 |
Forecast Period: |
2024-2032 |
Historical Data: |
2017 to 2023 |
Market Size in 2023: |
USD 8.60 Bn. |
Forecast Period 2024-32 CAGR: |
7.2% |
Market Size in 2032: |
USD 16.08 Bn. |
Segments Covered: |
By Type |
|
|
By Technology |
|
||
By Lead Type |
|
||
By End Users |
|
||
By Region |
|
||
Key Market Drivers: |
|
||
Key Market Restraints: |
|
||
Key Opportunities: |
|
||
Companies Covered in the report: |
|
Frequently Asked Questions :
The forecast period in the Electrocardiograph (ECG) Market research report is 2024-2032.
GE Healthcare, Koninklinje Philips NV, Nihon Kohden Corporation, Schiller AG, OSI Systems Inc. (Spacelabs Healthcare), AliveCor, Mindray Medical International Limited, Medtronic PLC, Hill-Rom Holdings Inc. (Welch Allyn), and other major players.
The Electrocardiograph (ECG) Market is segmented into Type, Technology, Lead Type, End Users, and region. By Type, the market is categorized into Rest ECG Systems, Stress ECG Systems, Holter ECG Systems, Event Recorders, and Other. By Technology the market is categorized into Portable ECG Systems, and Wireless ECG Systems. By Lead Type, the market is categorized into Single-Lead ECG, 3-6 Lead ECG, and 12 Lead ECG. By End-User the market is categorized into Home-Based Users, Hospitals, Other. By region, it is analyzed across North America (U.S.; Canada; Mexico), Europe (Germany; U.K.; France; Italy; Russia; Spain, etc.), Asia-Pacific (China; India; Japan; Southeast Asia, etc.), South America (Brazil; Argentina, etc.), Middle East & Africa (Saudi Arabia; South Africa, etc.).
An electrocardiogram (ECG) is a test used to inspect the functioning of the heart by measuring its electrical activity of the heart. An ECG measures and registers the electrical activity that goes through the heart. An ECG may be suggested if a patient is feeling arrhythmia, chest pain, or palpitations, and an abnormal ECG result can be a signal of several different heart conditions. The key factors bolstering the market growth include increasing cases of cardiovascular diseases, increasing usage of remote monitoring devices, and rapid technological advancements.
Global Electrocardiograph (ECG) market was valued at USD 8.60 billion in 2023 and is expected to reach USD 16.08 billion by the year 2032, at a CAGR of 7.2%.