ECG (Electrocardiogram) Device is a device which records the heart activities through electric signals and is amplified on the ECG monitor. ECG devices are used to diagnose types of heart diseases and arrhythmias in a person’s body, therefore, assist the appropriate therapy. The ECG test is the noninvasive and painless procedure and determines abnormality patterns in heart. There are four different types of ECG device which determine heart activities of the body under certain condition or activities.
Persistence Market Research offers a 7-year forecast of the global ECG device market between 2016 and 2024. In terms of value, the market is expected to register a CAGR of 4.1% during the forecast period. This study demonstrates market dynamics that are expected to influence the current environment and future status of the global ECG market over the forecast period. It includes key trends, drivers, restraints, and opportunities influencing the growth of the global ECG device market over forecast period 2016–2024. Impact analysis of key growth drivers and restraints based on the weighted average model are included in this report to better equip clients with crystal clear decision-making insights
The global ECG device market is segmented on the basis of:
On the basis of product type the market is segmented as follows:
ECG Resting System segment is estimated to account for highest revenue share US$ 1,908.9 Mn in 2015 and ECG Holter monitoring System is expected to grow at the highest CAGR during the forecast period 2016-2024.
On the basis of end user the market is segmented as follows;
The hospitals segment is expected to witness the highest growth at a CAGR of 4.4% during the forecast period.
On the basis of region/country the market is segmented as follows:
North America and APAC markets are estimated to account for 34.9 % and 27.2% revenue share in 2015 and are expected to dominate the market over the forecast period.
Key features of this report
ECG (Electrocardiogram) Device is a device which records the heart activities through electric signals and are amplified on the ECG monitor. ECG devices are used to diagnose types of heart diseases and arrhythmias in a person’s body therefore assist the appropriate therapy. The ECG test is noninvasive and painless procedure and determines abnormality patterns in heart. There are four different types of ECG device which determine heart activities of body under certain condition or activities.
Chronic diseases have become a major cause of diseases globally which is causing a lot of pressure on healthcare industry to adopt new paradigm of medical care and better healthcare facilities boosting the demand for new technologies. Cardiovascular disease is one of the most common of all health problems and leading cause of deaths globally. To avoid the risk associated with heart disease, ECG tests are conducted by people who are likely exposed to the factors causing heart disease. Due to increased awareness about CVD, patient monitoring devices are gaining importance over years due to ease of operation and quick results. Development in ECG devices and increase in global disease burden will drive the market growth for ECG devices over the forecast period. ECG device market has established market players along with OEMs and small players which are expanding their markets to cover larger market share into the emerging economies. Due to high competitiveness in the market players, ECG device market is fueled by bringing innovation.
By product type, ECG device market is segmented into ECG resting system, ECG holter monitoring system, ECG stress testing system and cardiopulmonary stress testing. ECG resting system segment is estimated to account for highest revenue share in 2015 and ECG holter monitoring system is expected to grow over the forecast period. ECG resting system is expected to witness sluggish growth over the forecast period due to technological advancements in ECG holter monitoring system.
On the basis of end user, the ECG device market is segmented into hospitals, diagnostic centers, clinics and ambulatory surgical centers. Hospitals segment is expected to create robust growth opportunities owing to better infrastructural facilities and large patient database.
By region, the global ECG device market is segmented into North America, Latin America, Europe, Asia Pacific, and Middle East & Africa The high adoption rate of new technology is expected to boost the market in the U.S. for ECG holter monitoring devices. The U.S. is expected to remain dominant market for ECG devices whereas APAC region is expected to witness highest growth due to large number of population suffering from cardiovascular diseases and increase in budding manufacturers providing ECG device at competitive prices.
Some key market participants included in the PMR’s ECG Device market