Article -> Article Details
Title | Diagnostic Electrocardiograph (ECG) Market Opportunities, Trends by 2025 |
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Category | Fitness Health --> Family Health |
Meta Keywords | Diagnostic Electrocardiograph (ECG) Market |
Owner | vinit |
Description | |
Market Forecast The Global Diagnostic
Electrocardiograph (ECG) market 2020 is touted to secure a
value of USD 10.48 billion by 2025 and is projected to mature at a
growth of 6.72% over the review period. Market Synopsis The growth of the global market for diagnostic
electrocardiographs (ECG) will lead to the growing prevalence of cardiovascular
diseases, rising geriatric population and evolving healthcare infrastructure.
In addition, the rising incidence rate of lifestyle diseases, technological
advancements in wireless tracking & wearable devices, and industry players'
growing R&D spending on developing novel ECG devices are also expected to
boost industry growth during the forecast period. The lack of trained practitioners, instability in market
penetration and economic conditions and inconsistent reimbursement policies,
however are expected to restrain the growth of the global diagnostic
electrocardiograph (ECG) market. Segmental Analysis The global diagnostic ECG market has been segmented based on
the product type, lead type, and end user. The global diagnostic electrocardiograph (ECG) market,
depending on the product type, has been segmented into ECG resting devices, ECG
stress devices, implantable loop recorders, handheld cardiac telemetry devices,
event monitors, Holter monitors, and smart ECG monitors. Due to its high use in
hospitals around the world, the Resting ECG devices segment held the largest market
share in 2018. The market was segmented by lead form into 12-lead ECG
devices, 5-lead ECG devices, 3-lead ECG devices, 6-lead ECG devices, and
one-lead ECG devices. Due to their growing usage in a variety of cardiac
diagnostic tests, the 3-lead ECG devices segment is touted to rise at the
fastest CAGR during the forecast period. The end-user-based industry was segmented into hospitals
& clinics, outpatient surgical centres, and others. The section of the
outpatient surgical center is expected to display the fastest growth during the
forecast period because of its growing popularity in developing countries. Regional Overview Geographically, the global diagnostic ECG market is studied
under five different regions namely, North America, Asia Pacific, Latin
America, Europe, and MEA. Due to the increasing need for minimally invasive
procedures, North America has represented the largest share of the diagnostic
ECG market in the past few years. The significant proportion of this geographic
segment can be attributed to the growing prevalence of CVD, the emergence of
advanced healthcare services , high disposable income , high demand for medical
devices and advances in technology. It is anticipated that Asia Pacific will report the highest
growth over the review period. Factors such as a growing geriatric population,
a growing incidence of chronic diseases and rising government spending on
health care are expected to drive the te market over the review period. In
addition , the large population base, healthcare reforms for infrastructural
development, and increasing demand for advanced technology to expand healthcare
facilities in emerging economies are also projected to fuel regional market
growth. In addition , rising expendable income, advancing healthcare infrastructure
as a result of growing technological integration and less stringent regulations
also drive demand for ECG diagnostic devices in the Asia Pacific region. Competitive Dashboard Some of the major players in the Global Diagnostic
Electrocardiograph (ECG) Market are Koninklijke Philips N.V.
(Netherlands), Hillrom Services, Inc. (US), Spacelabs Healthcare (US), Nihon
Kohden Corporation (Japan), Shenzhen Mindray Bio-Medical Electronics Co., Ltd
(China), Schiller (Switzerland), General Electric Company (US), ACS Diagnostics
(US), Fukuda Denshi (Japan), BPL Medical Technologies (India), BTL (US), Edan
Instruments, Inc. (China), Cardioline SpA (Italy), Norav Medical (US), Innomed
Medical Inc. (Hungary), and VectraCor, Inc. (US). The global market for diagnostic
electrocardiographs (ECG) is highly competitive and the major players have used
various approaches such as new product releases, extensions, alliances , joint
ventures, collaborations, acquisitions and others to expand their footprints in
this market. |