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South Korea ECG Market by Product (Resting ECG, Stress ECG, and Holter Monitors) Lead (Single Lead ECG, 3-6 Lead ECG, and 12 Lead ECG) and End User (Hospitals & Clinics, Home Settings & Ambulatory Surgical Centers, and Others): Opportunity Analysis and Industry Forecast, 2017 - 2025

LI_195145
Pages: 126
Jan 2019 | 930 Views
 
Author(s) : Sohail Shaikh & Onkar Sumant
Tables: 45
Charts: 38
 

ECG market Overview:

The South Korea ECG market accounted for $2.99 million in 2017 and is projected to reach $7.69 million by 2025, registering a CAGR of 12.3% from 2018 to 2025. Electrocardiograph devices are used to monitor the heart rate and early diagnosis of cardiovascular diseases.

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Different types of ECG include resting ECGs, stress ECGs, Holter monitors, and other applications such as portable and wearable mobile ECG devices. Holter monitors are further bifurcated into wired Holter monitors and wireless Holter monitors.

Surge in elderly population, increase in adoption of newly developed advance ECG devices by the healthcare professionals, rise in awareness in the south Korean population, favorable reimbursement policies, hike in the disposable income, and surge in prevalence of chronic cardiovascular diseases are the factors anticipated to boost the growth of the South Korea ECG market during the forecast period. Furthermore, technological advancements associated with wearable mobile ECG devices for more than 24 hours monitoring is also expected to foster the market growth in the near future.

However, unfavorable economic conditions, market saturation, and high cost associated with ECG devices are the factors anticipated to restrain the growth of the South Korea ECG market.

The South Korea ECG market is segmented into product, lead, and end user. Based on product, the market is divided to Resting ECGs, Stress ECGs, and Holter monitors. Holter monitors are further classified into wired Holter monitors and wireless Holter monitors Based on lead, it is categorized into Single Lead ECG, 3-6 Lead ECGs and 12 Lead ECGs. Based on end user, it is classified into hospitals, clinics, home settings & ambulatory surgical centers, and others.

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Hospitals and clinics account for the largest share among end users for South Korea ECG devices, followed by home & ambulatory settings and others. This is attributed to the fact that hospitals are well-equipped with advanced facilities and better ECG units to cater to the different needs of the patients. Moreover, ECG units at hospitals are equipped with resting and stress ECG devices.

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Based on product, the resting ECG segment dominated the South Korea ECG market in 2017. This is attributed to the preference of health care professionals for using resting ECG devices for diagnosis over types of ECG devices for patients admitted in the hospitals. Furthermore, surge in geriatric population suffering from cardiovascular diseases boost the growth of the resting ECG devices in the South Korea ECG market.

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The South Korea ECG market is relatively fragmented with the presence of a few significant manufacturers. Schiller AG, Nihon Kohden Corporation, Hill-Rom Holdings, Inc. Corporation, General Electric Company, Medtronic Plc, Koninklijke Philips N.V., Mediana Co., Ltd., Bionet Co., Ltd, OSI Systems, Beijing Choice Electronic Technology Co., Ltd. (ChoiceMMed), Mindray Medical International Limited dominated the market in 2018, owing to wide distribution of their product portfolio across South Korea. The other significant players operating in the market include CardioComm Solutions, Inc., AliveCor, Inc., Omron Healthcare Europe B.V., Trismed Co., Ltd., Johnson & Johnson, Midmark Corporation, and Fukuda Denshi Co., Ltd.

Key Market Benefits for ECG market:

  • The study provides an in-depth analysis of the South Korea ECG market along with the current trends and future estimations to elucidate the imminent investment pockets of the industry.

  • The report presents a quantitative analysis of the market from 2017 to 2025 to enable stakeholders to capitalize on the prevailing market opportunities.

  • An extensive analysis of the market based on application, end user, and countries assist in understanding the trends in the industry.

  • The key market players are analyzed along with their strategies to understand the competitive outlook of the South Korea ECG market.

ECG Key Market Segments:

By Product

  • Resting ECGs

  • Stress ECGs

  • Holter Monitors

  • Wired Holter Monitors

  • Wireless Holter Monitors

By Lead

  • Single Lead ECGs

  • 3-6 Lead ECGs

  • 12 Lead ECGs

By End User

  • Hospitals & Clinics

  • Home & Ambulatory settings

  • Others

 

CHAPTER 1: INTRODUCTION

1.1. Report description
1.2. Key benefits for stakeholders
1.3. Key market segments
1.4. Research methodology

1.4.1. Secondary research
1.4.2. Primary research
1.4.3. Analyst tools & models

CHAPTER 2: EXECUTIVE SUMMARY

2.1. CXO perspective

CHAPTER 3: MARKET OVERVIEW

3.1. Market definition and scope
3.2. Key findings

3.2.1. Top investment pockets

3.3. Top player positioning, 2017
3.4. Porters five forces analysis
3.5. Market dynamics

3.5.1. Drivers

3.5.1.1. Rise in geriatric population in South Korea
3.5.1.2. Favorable government regulations
3.5.1.3. Technological advancements and portability of ECG devices

3.5.2. Restraints

3.5.2.1. High cost associated with ECG devices
3.5.2.2. Unfavorable economic conditions and market saturation

3.5.3. Opportunity

3.5.3.1. Increase in development of wireless communications and cloud computing

3.6. OTC ECG Devices Market

3.6.1. Overview
3.6.2. Market size and forecast

CHAPTER 4: SOUTH KOREA ELECTROCARDIOGRAPH (ECG) MARKET, BY PRODUCT

4.1. Overview

4.1.1. Market Size and Forecast

4.2. Resting ECG

4.2.1. Key market trends and growth opportunities
4.2.2. Market Size & Forecast

4.3. Stress ECG

4.3.1. Key market trends and growth opportunities
4.3.2. Market Size & Forecast

4.4. Holter Monitors

4.4.1. Key market trends and growth opportunities
4.4.2. Market Size and Forecast, by Product Type
4.4.3. Market Size & Forecast

4.4.3.1. Wired Holter monitors

4.4.3.1.1. Market size & forecast

4.4.3.2. Wireless Holter monitors

4.4.3.2.1. Market size & forecast

CHAPTER 5: SOUTH KOREA ELECTROCARDIOGRAPH (ECG) MARKET, BY LEAD

5.1. Overview

5.1.1. Market Size and Forecast

5.2. Single Lead ECG

5.2.1. Market Size & Forecast

5.3. 3-6 Lead ECG

5.3.1. Market Size & Forecast

5.4. 12-Lead ECG

5.4.1. Market Size & Forecast

CHAPTER 6: SOUTH KOREA ELECTROCARDIOGRAPH (ECG) MARKET, BY END USER

6.1. Overview

6.1.1. Market size and forecast

6.2. Hospitals & Clinics

6.2.1. Market Size & Forecast

6.3. Home Settings & Ambulatory Surgical Centers (ASCs)

6.3.1. Market Size & Forecast

6.4. Others

6.4.1. Market Size & Forecast

CHAPTER 7: COMPANY PROFILES

7.1. BIONET CO., LTD.

7.1.1. Company overview
7.1.2. Company snapshot
7.1.3. Operating business segments
7.1.4. Product Portfolio

7.2. GE HEALTHCARE (GENERAL ELECTRIC)

7.2.1. Company overview
7.2.2. Company snapshot
7.2.3. Operating business segments
7.2.4. Product Portfolio
7.2.5. Business performance
7.2.6. Key strategic moves and developments

7.3. HILL ROM HOLDINGS, INC.

7.3.1. Company overview
7.3.2. Company snapshot
7.3.3. Operating business segments
7.3.4. Product Portfolio
7.3.5. Business performance
7.3.6. Key strategic moves and developments

7.4. KONINKLIJKE PHILIPS N.V.

7.4.1. Company overview
7.4.2. Company snapshot
7.4.3. Operating business segments
7.4.4. Business performance
7.4.5. Product Portfolio
7.4.6. Key strategic moves and developments

7.5. MEDIANA CO., LTD

7.5.1. Company overview
7.5.2. Company snapshot
7.5.3. Operating business segments
7.5.4. Product Portfolio

7.6. MEDTRONIC PLC.

7.6.1. Company overview
7.6.2. Company snapshot
7.6.3. Operating business segment
7.6.4. Product Portfolio
7.6.5. Business performance
7.6.6. Key strategic moves and developments

7.7. MINDRAY MEDICAL INTERNATIONAL LIMITED

7.7.1. Company overview
7.7.2. Operating business segment
7.7.3. Product Portfolio

7.8. NIHON KOHDEN CORPORATION

7.8.1. Company overview
7.8.2. Company snapshot
7.8.3. Operating business segments
7.8.4. Product Portfolio
7.8.5. Business performance

7.9. OSI SYSTEMS, INC.

7.9.1. Company overview
7.9.2. Company snapshot
7.9.3. Operating business segments
7.9.4. Product Portfolio
7.9.5. Business performance

7.10. SCHILLER AG

7.10.1. Company overview
7.10.2. Company snapshot
7.10.3. Operating business segment
7.10.4. Product Portfolio

7.11. ALIVCOR, INC.

7.11.1. Company overview
7.11.2. Company snapshot
7.11.3. Product Portfolio

7.12. BEIJING CHOICE ELECTRONIC TECHNOLOGY CO., LTD (CHOICEMMED)

7.12.1. Company overview
7.12.2. Company snapshot
7.12.3. Product Portfolio

7.13. CARDIOCOMM SOLUTIONS, INC.

7.13.1. Company overview
7.13.2. Company snapshot
7.13.3. Operating business segment
7.13.4. Product Portfolio

7.14. OMRON HEALTHCARE EUROPE B.V.

7.14.1. Company overview
7.14.2. Company snapshot
7.14.3. Product Portfolio

7.15. QARDIO, INC.

7.15.1. Company overview
7.15.2. Company snapshot
7.15.3. Product Portfolio

LIST OF TABLES

TABLE 01. SOUTH KOREA OTC ECG DEVICE MARKET, 2017-2025, ($THOUSAND)
TABLE 02. SOUTH KOREA ECG MARKET, BY PRODUCT, 2017-2025, ($MILLION)
TABLE 03. SOUTH KOREA ECG MARKET FOR HOLTER MONITORS, BY PRODUCT TYPE, 2017-2025, ($MILLION)
TABLE 04. SOUTH KOREA ECG MARKET, BY LEAD, 2017-2025, ($MILLION)
TABLE 05. SOUTH KOREA ECG MARKET, BY END USER, 2017-2025, ($MILLION)
TABLE 06. BIONET: COMPANY SNAPSHOT
TABLE 07. BIONET: OPERATING SEGMENTS
TABLE 08. BIONET: PRODUCT PORTFOLIO
TABLE 09. GE HEALTHCARE: COMPANY SNAPSHOT
TABLE 10. GE HEALTHCARE: OPERATING SEGMENTS
TABLE 11. GE HEALTHCARE: PRODUCT PORTFOLIO
TABLE 12. HILL ROM: COMPANY SNAPSHOT
TABLE 13. HILL-ROM: OPERATING SEGMENTS
TABLE 14. HILL-ROM: PRODUCT PORTFOLIO
TABLE 15. PHILIPS: COMPANY SNAPSHOT
TABLE 16. PHILIPS: OPERATING SEGMENTS
TABLE 17. PHILIPS: PRODUCT PORTFOLIO
TABLE 18. MEDIANA: COMPANY SNAPSHOT
TABLE 19. MEDIANA CO., LTD.: PRODUCT PORTFOLIO
TABLE 20. MEDTRONIC: COMPANY SNAPSHOT
TABLE 21. MEDTRONIC: OPERATING SEGMENT
TABLE 22. MEDTRONIC: PRODUCT PORTFOLIO
TABLE 23. MINDRAY: COMPANY SNAPSHOT
TABLE 24. MINDRAY: OPERATING SEGMENTS
TABLE 25. MINDRAY: PRODUCT PORTFOLIO
TABLE 26. NIHON KOHDEN: COMPANY SNAPSHOT
TABLE 27. NIHON KOHDEN: OPERATING SEGMENTS
TABLE 28. NIHON KOHDEN: PRODUCT PORTFOLIO
TABLE 29. OSI SYSTEMS: COMPANY SNAPSHOT
TABLE 30. OSI-SYSTEMS: BUSINESS SEGMENTS
TABLE 31. OSI-SYSTEMS: PRODUCT PORTFOLIO
TABLE 32. SCHILLER AG: COMPANY SNAPSHOT
TABLE 33. SCHILLER AG: OPERATING SEGMENT
TABLE 34. SCHILLER AG: PRODUCT PORTFOLIO
TABLE 35. ALIVECOR, INC.: COMPANY SNAPSHOT
TABLE 36. ALIVECOR, INC.: PRODUCT PORTFOLIO
TABLE 37. CHOICEMMED: COMPANY SNAPSHOT
TABLE 38. CHOICEMMED: PRODUCT PORTFOLIO
TABLE 39. CARDIOCOMM: COMPANY SNAPSHOT
TABLE 40. CARDIOCOMM: OPERATING SEGMENT
TABLE 41. CARDIOCOMM: PRODUCT PORTFOLIO
TABLE 42. OMRON HEALTHCARE EUROPE B.V.: COMPANY SNAPSHOT
TABLE 43. OMRON HEALTHCARE EUROPE B.V.: PRODUCT PORTFOLIO
TABLE 44. QARDIO, INC: COMPANY SNAPSHOT
TABLE 45. QARDIO, INC: PRODUCT PORTFOLIO

LIST OF FIGURES

FIGURE 01. SOUTH KOREA ECG MARKET SEGMENTATION
FIGURE 02. TOP INVESTMENT POCKETS, 2017
FIGURE 03. TOP PLAYER POSITIONING, 2017
FIGURE 04. MODERATE BARGAINING POWER OF BUYERS
FIGURE 05. LOW BARGAINING POWER OF SUPPLIERS
FIGURE 06. MODERATE THREAT OF NEW ENTRANTS
FIGURE 07. LOW THREAT OF SUBSTITUTION
FIGURE 08. HIGH COMPETITIVE RIVALRY
FIGURE 09. MARKET DRIVERS, RESTRAINTS AND OPPORTUNITIES
FIGURE 10. SOUTH KOREA ECG MARKET FOR RESTING ECG, BY PRODUCT, ($MILLION), 2017-2025
FIGURE 11. SOUTH KOREA ECG MARKET FOR STRESS ECG, BY PRODUCT, ($MILLION), 2017-2025
FIGURE 12. SOUTH KOREA ECG MARKET FOR HOLTER MONITORS, BY PRODUCT, ($MILLION), 2017-2025
FIGURE 13. SOUTH KOREA ECG MARKET FOR WIRED HOLTER MONITORS, BY PRODUCT TYPE, ($MILLION), 2017-2025
FIGURE 14. SOUTH KOREA ECG MARKET FOR WIRELESS HOLTER MONITORS, BY PRODUCT TYPE, ($MILLION), 2017-2025
FIGURE 15. SOUTH KOREA ECG MARKET FOR SINGLE LEAD, BY LEAD, ($MILLION), 2017-2025
FIGURE 16. SOUTH KOREA ECG MARKET FOR 3-6 LEAD, BY LEAD, ($MILLION), 2017-2025
FIGURE 17. SOUTH KOREA ECG MARKET FOR 12 LEAD, BY LEAD, ($MILLION), 2017-2025
FIGURE 18. SOUTH KOREA ECG MARKET FOR HOSPITALS & CLINICS, BY END USER, ($MILLION), 2017-2025
FIGURE 19. SOUTH KOREA ECG MARKET FOR HOME SETTINGS & ASCS, BY END USER, ($MILLION), 2017-2025
FIGURE 20. SOUTH KOREA ECG MARKET FOR OTHER END USERS, BY END USER, ($MILLION), 2017-2025
FIGURE 21. GE HEALTHCARE: NET SALES, 20152017 ($MILLION)
FIGURE 22. GE HEALTHCARE: REVENUE SHARE BY SEGMENT, 2017 (%)
FIGURE 23. GE HEALTHCARE: REVENUE SHARE BY REGION, 2017(%)
FIGURE 24. HILL ROM: NET SALES, 20152017 ($MILLION)
FIGURE 25. HILL ROM: REVENUE SHARE BY SEGMENT, 2017 (%)
FIGURE 26. HILL ROM: REVENUE SHARE BY REGION, 2017 (%)
FIGURE 27. PHILIPS: NET SALES, 20152017 ($MILLION)
FIGURE 28. PHILIPS: REVENUE SHARE BY SEGMENT, 2017 (%)
FIGURE 29. PHILIPS: REVENUE SHARE BY REGION, 2017(%)
FIGURE 30. MEDTRONIC: NET SALES, 20152017($MILLION)
FIGURE 31. MEDTRONIC: REVENUE SHARE PER SEGMENT 2017(%)
FIGURE 32. MEDTRONIC: REVENUE SHARE BY REGION 2017(%)
FIGURE 33. NIHON KOHDEN: NET SALES, 20152017 ($MILLION)
FIGURE 34. NIHON KOHDEN: REVENUE SHARE BY SEGMENT, 2017 (%)
FIGURE 35. NIHON KOHDEN: REVENUE SHARE BY REGION, 2017 (%)
FIGURE 36. OSI SYSTEMS, INC.: NET SALES, 2016-2018 ($MILLION)
FIGURE 37. OSI SYSTEMS: REVENUE SHARE BY SEGMENT, 2017 (%)
FIGURE 38. OSI SYSTEMS.: REVENUE SHARE BY REGION, 2017 (%)

 
 

Electrocardiograph is a device essentially used to detect and monitor tiny electrical impulses that are generated by sinoatrial (SA) node in the heart to pump the blood around the body. It is used to monitor the rhythm using the leads placed on the chest. The number of leads used differs depending on the type of ECG used. The market revenue for the South Korea ECG market is expected to increase steadily over the next four to five years. The major factors that drive the growth of the South Korea electrocardiograph market are increase in geriatric population, improved healthcare infrastructure, surge in number of patients suffering from cardiovascular diseases, and rise in per capita expenditure on healthcare.

The Holter monitor segment is anticipated to experience growth amongst the other ECG types owing to the portability and compactness of these monitors. These monitors can be worn for longer periods of time. Also, their usage does not affect the daily activities as opposed to other ECG devices. The market for Holter monitors and other ECG devices is expected to experience considerable growth during the forecast period owing to the rise in geriatric population, increase in awareness of cardiac disorders, and surge in adoption of over-the-counter (OTC) ECG devices in South Korea.

 

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