Electrocardiograph (ECG) Market Overview:
global ECG market was valued at $4,516 million in 2016, and is expected to reach $6,637 million by 2023, registering a CAGR of 5.6% from 2017 to 2023. Electrocardiograph (ECG) is a non-invasive medical test that records the electrical activity of the heartbeat over a period of time. ECG monitoring devices such as, resting ECG, stress ECG, and holter monitors help identify and provide information about abnormal functioning of the heart. Cardiovascular disease is one of the most common health problems faced by people across the globe, with high mortality rate accounting for approximately 370,000 people deaths annually in the U.S. alone. This propels the demand for ECG market as the increase in number of ECG tests are conducted by people, susceptible to heart diseases. The other key factors that boost the growth of electrocardiograph (ECG) market include technological advancements in ECG devices such as portable and handheld, rise in incidence of cardiovascular diseases globally, increase in geriatric population, and favorable government regulations regarding monitoring devices. However, certain aspects such as, unfavorable reimbursement policies along with increase in market saturation hamper the market growth.
Global ECG Market Segmentation
The ECG market is segmented based on product, lead type, end user, and region. Based on product, the market is classified into resting ECG, stress ECG, and holter monitors. Holter monitors are further bifurcated into wired holter monitors and wireless holter monitors. Based on lead type, the market is classified into single lead, 3-6 lead, and 12-lead. Based on end user, it is classified into hospitals & clinics, home settings & ambulatory surgical centers (ASCs), and others. The resting ECG devices generated highest revenue in 2016, and is anticipated to maintain the dominance throughout the forecast period. Whereas, holter monitors have registered the highest CAGR of 12.0% from 2017 to 2023 in terms of volume
Drivers, Restraints, and Opportunities
Drivers, Restraints, and Opportunities
The impact of the driving factors is expected to overshadow that of the restraints. Moreover, increase in focus toward mergers, acquisitions, and product launches offer lucrative opportunities for the expansion of the global ECG market.
Japan ECG Market, 2016-2023 ($million)
Japan accounted for the highest share in the Asia-Pacific ECG market in 2016, and is anticipated to do so throughout the forecast period. This is attributed to the increase in developments in the healthcare system in this country along with the strong product portfolio of local market players in this country such as Nihon Kohden and Fukuda.
The report provides a comprehensive analysis of the key players operating in the global ECG market such as GE Healthcare (General Electric Company), Royal Philips Healthcare (Koninklijke Philips N.V.), Nihon Kohden Corporation, Schiller AG, Opto Circuits Limited, OSI Systems Fukuda Denshi Co Ltd., Johnson and Johnson, Mindray Medical International Limited, Mortara Instrument, Inc., and Medtronic.
The other key players in the value chain include, Spacelabs Healthcare Inc., Welch Allyn, Compumed Inc., Cardionet Inc., Bionet, Cardiac Science, Midmark Corporation, AMEDTEC Medizintechnik Aue GmbH, and BPL Medical Technologies.
- The study provides an in-depth analysis along with the current trends and future estimations of the global electrocardiograph (ECG) market to elucidate the imminent investment pockets.
- Comprehensive analysis of the factors that drive and restrict the market growth is provided in the report.
- The quantitative analysis of the industry for the period of 2016 to 2023 is provided to enable the stakeholders to capitalize on the prevailing market opportunities.
- Extensive analysis of key segments of the industry is provided to understand the type of ECG products, and lead types used across the globe.
- Key market players and their strategies are analyzed to understand the competitive outlook of the market.
Electrocardiograph (ECG) Market Key Segments:
- Resting ECG
- Stress ECG
- Holter Monitors
- Wired Holter Monitors
- Wireless Holter Monitors
By Lead Type
- Single Lead
- 3-6 Lead
By End User
- Hospitals & Clinics
- Home Settings & Ambulatory Surgical Centers (ASCs)
- North America
- Rest of Europe
- New Zealand
- Rest of Asia-Pacific
- South Africa
- Saudi Arabia
- Rest of LAMEA