ECG Device Market 2022-2031
The ECG Device Market is likely to grow at an impertinent level shortly. Chabot’s powered by machine learning is the transformation of the way interaction amongst patients happens. Machine learning is there to help radiologists to identify differences in the scans. This, in turn, helps them in diagnosing and detecting health issues, that too, at an early stage. This is the ongoing trend in the healthcare vertical and the status quo is expected to remain unchanged even going forward.
These factors are expected to fuel the growth of global ECG devices market to grow at a CAGR of 4.1% between 2016 and 2027, according to a new report by Persistence Market Research (PMR). The report, titled, “ECG Device Market: Global Industry Analysis and Forecast, 2016-2027”.
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ECG devices are experiencing a paradigm technological shift from resting ECG systems to portable Holter monitoring systems, owing to their advantages of patient mobility, low prices and longer duration of patient monitoring. ECG devices are proving to be more efficient in ECG monitoring due to advancement in technology, allowing healthcare providers to monitor recorded data remotely and data management facilities for better analysis of data.
Key Players:
The report has profiled some of the important players prevalent in the global like – GE Healthcare, Koninklijke Philips N.V, Welch Allyn (Hill-rom company, Inc.), Schiller AG, Fukuda Denshi Co. Ltd., Nihon Kohden Corporation, Mortara Instrument, Inc., Spacelabs Healthcare, Inc. and more.
This report covers the sales volume, price, revenue, gross margin, manufacturers, suppliers, distributors, intermediaries, customers, historical growth and future perspectives in the ECG Device Market.
PMR’s report offers market forecast and analysis on global ECG device market, segmenting the market on the basis of product, end-user, and region. The report segments the global ECG device market into five key regions, North America, Latin America, Europe, Middle East and Africa (MEA) and Asia Pacific (APAC).
According to the PMR’s regional analysis, North America (U.S. and Canada) is the most lucrative market for ECG devices globally. This region holds highest market share over the forecast period (2016-2024) and is expected to exhibit slow growth rate. The Asia Pacific is expected to be the fastest-growing region for ECG devices owing to its increasing incidence rate of cardiovascular diseases and high population.
APAC is estimated to hold nearly 27.3 % revenue share by the end of 2016 in the ECG device market. MEA region is also expected to grow significantly over the forecast period owing to its high public healthcare expenditure and government funding. This region is expected to grow at CAGR of 4.5% over the forecast period.
On the basis of product, PMR has segment the ECG device market into ECG resting system, ECG Holter monitoring system, ECG stress testing system and cardiopulmonary stress testing system segments. ECG Holter monitoring system segment is expected to dominate the market through the forecast period and is anticipated to be the most lucrative segment. Due to the high adoption rate of ECG Holter monitoring devices globally this segment is expected to witness high incremental opportunity.
On the basis of the end user, the ECG device market has been segmented into hospitals, diagnostic centers, clinics and ambulatory surgical centers (ASCs). PMR estimates that hospitals segment accounts for highest revenue share in the end user segment of ECG device market and is expected to witness the fastest growth over the forecast period.
Factors like increasing number of private hospitals in emerging countries and government funding for better infrastructure is expected to boost revenue share from hospitals segment for ECG device market. Diagnostic centers segment is also expected to gain significant growth during the forecast period due to better diagnostic facilities and ease of access.
The report discusses several factors affecting the ECG device market like increment in healthcare expenditure, key strategies of the participant companies, reimbursement policies, and regulations.
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Region Coverage (Regional Production, Demand & Forecast by Countries etc.):
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 Araia, South Africa etc.)
Key Stakeholders
ECG Device Market Manufacturers
ECG Device Market Distributors/Traders/Wholesalers
ECG Device Market Subcomponent Manufacturers
Industry Association
Downstream Vendors
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Key Questions Answered in the ECG Device Market Report
How is the ECG Device Market expected to grow over the projected period?
What direction is the ECG Device Market expected to take in terms of volume and value during the forecast period?
What is the impact of macroeconomic factors on the ECG Device Market in future?
What are the key market drivers in the ECG Device Market?
What are significant opportunities and improvement areas for ECG Device Market manufacturers?
What are the key developments and trends taking over the ECG Device Market?
Which are the emerging countries that are expected to create significant growth opportunities in the ECG Device Market?
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