Electrocardiograph Device Market Growth, Size, Trends, Demand, Revenue and Future Outlook
Electrocardiograph (ECG) Device Market Size- By Product, By End User, By Technology, By Lead Type- Regional Outlook, Competitive Strategies and Segment Forecast to 2033
| Published: Jan-2024 | Report ID: MEDE2401 | Pages: 1 - 223 | Formats*: |
| Category : Medical Devices | |||
Electrocardiograph Device Market Introduction and Overview
According to SPER Market Research, the Global Electrocardiograph Devices Market is estimated to reach USD XX billion by 2033 with a CAGR of XX%.
The report includes an in-depth analysis of the Global Electrocardiograph Devices Market, including market size and trends, product mix, applications, and supplier analysis. The diagnostic electrocardiogram (DEG) is a medical device that uses electrodes placed in contact with the chest to record the electrical activity of the heart in waveforms. After then, these waveforms are amplified and shown on an ECG monitor. Identification of a number of cardiac disorders, such as arrhythmia, atrioventricular re-entrant tachycardia, and symptoms suggestive of acute coronary syndrome, depends critically on the examination of these waveforms.
- February 2022: In the US, AliveCor introduced the slimmest and most convenient personal ECG device: the KardiaMobile Card. For instantaneous feedback on heart health anytime, anyplace, this is the only personal ECG that is small enough to fit in a wallet.
- January 2022: The first full-service, 12-lead ECG at-home solution in the industry was introduced by Royal Philips in for use in decentralized clinical studies. It is intended to decrease the necessity for site visits during clinical trials, which will enhance patient recruitment, compliance, and retention.
- December 2021: The FDA in the United States granted Implicity approval for a new medical algorithm that analyzes ECG data from implantable loop recorders (ILRs).
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Market Opportunities and Challenges
The global ECG Device market is being driven by rising prevalence of cardiovascular disease, particularly among the growing older population. The demand for ECG monitors is expected to rise, since they are the preferred non-invasive cardiac diagnostic tool. This positive trend is further supported by the growing use of advanced ECG monitors. In essence, the world's embrace of advanced technology and heart-related problems is creating favourable circumstances for ECG Device markets’ rapid expansion.
Complicated reimbursement regulations that have different rates and coverage in different areas hinder innovation and restrict access to ECG for people without insurance. Moreover, expensive equipment and maintenance requirements—which are sometimes the result of insufficient training leading to user error—push healthcare professionals away accepting more recent developments and toward more conventional, less expensive ECGs, Hence limiting its market growth. Due to financial constraints, doctors in a number of developing countries must use traditional ECG equipment rather than the newest, most sophisticated ones. Thus, the market's growth is being hindered by inadequate technical skills and high acquisition and maintenance expenses. Significant factors that are expected to hinder the growth of the global diagnostic electrocardiograph (DECG) market also include the absence of qualified personnel to operate the devices, unfavourable reimbursement policies, and low public awareness of the use of ECGs in the diagnosis of cardiovascular diseases.
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Market Competitive Landscape
GE Healthcare, Hill-Rom Holdings, Inc. (Baxter International Inc.), Johnson & Johnson, Medtronic PLC, Minidray Medical International Limited, Nihon Kohden Corporation, Opto Circuits Limited, OSI Systems Fukuda Denshi Co Ltd., Philips Healthcare (Koninklijke Philips N.V.), Schiller AG are some of the major companies involved in the global electrocardiograph (ECG) market.
Scope of the Report:
| Report Metric | Details |
| Market size available for years | 2019-2033 |
| Base year considered | 2022 |
| Forecast period | 2023-2033 |
| Segments covered | By Product, By End User, By Technology, By Lead Type |
| Regions covered | North America, Asia-Pacific, Latin America, Middle East & Africa and Europe |
| Companies Covered | GE Healthcare, Hill-Rom Holdings, Inc. (Baxter International Inc.), Johnson & Johnson, Medtronic PLC, Minidray Medical International Limited, Nihon Kohden Corporation, Opto Circuits Limited, OSI Systems Fukuda Denshi Co Ltd., Philips Healthcare (Koninklijke Philips N.V.), Schiller AG |
COVID-19 Impact on Global Autonomous Ships Market
The COVID-19 pandemic has had a wide range of major effects, some of which are still changing how certain markets are growing. While certain industries can be responsible for the decline in demand during this time. In addition, the disease's impact on public health is accompanied by a side consequence of almost complete disruption and surgical service cancellations, and people were also afraid to go to healthcare centre therefore decreasing the demand for Diagnostic device. But later on, electrocardiography (ECG) was advised as a diagnostic test for all COVID-19 patients due to the increased risk of rhythm disturbance and acute coronary syndrome associated with virus infection and pneumonia, thus increasing the demand for ECG devices, after the pandemic increasing health awareness among the population can also contribute to its market growth during the projected time period.
Key Target Audience
- Medical Devices Manufacturers
- Hospitals
- Clinics & Cardiac Centres,
- Ambulatory Surgical Centres (ASCs)
Our in-depth analysis of the Electrocardiograph Device Market includes the following segments:
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Key Topics Covered in the Report
- Global Electrocardiograph Device Market Size (FY’2023-FY’2033)
- Overview of Global Electrocardiograph Device Market.
- Segmentation of Global Electrocardiograph Device Market by Product (Rest Electrocardiograph Devices, Stress Electrocardiograph Devices, Holter Monitors, Event Recorders, Implantable Loop Recorders, Mobile Cardiac Telemetry Devices, Smart ECG Monitors. Others.)
- Segmentation of Global Electrocardiograph Device Market by End User (Hospitals, Clinics & Cardiac Centres, Home Settings, Ambulatory Surgical Centres, Others).
- Segmentation of Global Electrocardiograph Device Market by Technology (Portable ECG Devices and Wireless ECG Devices).
- Segmentation of Global Electrocardiograph Device Market by Lead Type (Single Lead ECG Devices, 2 Lead Electrocardiograph Devices, 3 Lead Electrocardiograph Devices, 5 Lead Electrocardiograph Devices, 6 Lead Electrocardiograph Devices, 12 Lead Electrocardiograph Devices, Other ECG Lead Devices).
- Statistical Snap of Global Electrocardiograph Device Market
- Expansion Analysis of Global Electrocardiograph Device Market
- Problems and Obstacles in Global Electrocardiograph Device Market
- Competitive Landscape in the Global Electrocardiograph Device Market
- Impact of COVID-19 and Demonetization on Global Electrocardiograph Device Market
- Details on Current Investment in Global Electrocardiograph Device Market
- Competitive Analysis of Global Electrocardiograph Device Market
- Prominent Players in the Global Electrocardiograph Device Market
- SWOT Analysis of Global Electrocardiograph Device Market
- Global Electrocardiograph Device Market Future Outlook and Projections (FY’2023-FY’2033)
- Recommendations from Analyst
1. Introduction
1.1. Scope of the report1.2. Market segment analysis
2. Research Methodology
2.1. Research data source
2.1.1. Secondary Data2.1.2. Primary Data2.1.3. SPER’s internal database2.1.4. Premium insight from KOL’s
2.2. Market size estimation
2.2.1. Top-down and Bottom-up approach
2.3. Data triangulation
3. Executive Summary
4. Market Dynamics
4.1. Driver, Restraint, Opportunity and Challenges analysis
4.1.1. Drivers4.1.2. Restraints4.1.3. Opportunities4.1.4. Challenges
4.2. COVID-19 Impacts on the Global Electrocardiograph Device Market
5. Market variable and outlook
5.1. SWOT Analysis
5.1.1. Strengths5.1.2. Weaknesses5.1.3. Opportunities5.1.4. Threats
5.2. PESTEL Analysis
5.2.1. Political Landscape5.2.2. Economic Landscape5.2.3. Social Landscape5.2.4. Technological Landscape5.2.5. Environmental Landscape5.2.6. Legal Landscape
5.3. PORTER’s Five Forces
5.3.1. Bargaining power of suppliers5.3.2. Bargaining power of buyers5.3.3. Threat of Substitute5.3.4. Threat of new entrant5.3.5. Competitive rivalry
5.4. Heat Map Analysis
6. Competitive Landscape
6.1. Global Electrocardiograph Device Market Manufacturing Base Distribution, Sales Area, Product Type6.2. Mergers & Acquisitions, Partnerships, Product Launch, and Collaboration in Global Electrocardiograph Device Market
7. Global Electrocardiograph Device Market, By Product (USD Million)
7.1. Global Electrocardiograph Device Market Value Share and Forecast, By Product, 2023-20337.2. Event Recorders7.3. Holter Monitors7.4. Implantable Loop Recorders7.5. Mobile Cardiac Telemetry Devices7.6. Rest Electrocardiograph (ECG) Devices7.7. Smart ECG Monitors7.8. Stress Electrocardiograph (ECG) Devices7.9. Others
8. Global Electrocardiograph Device Market, By End User (USD Million)
8.1. Global Electrocardiograph Device Market Value Share and Forecast, By End User, 2023-20338.2. Ambulatory Surgical Centres (ASCs)8.3. Home Settings8.4. Hospitals, Clinics & Cardiac Centres8.5. Others
9. Global Electrocardiograph Device Market, By Technology (USD Million)
9.1. Global Electrocardiograph Device Market Value Share and Forecast, By Technology, 2023-20339.2. Portable Electrocardiograph Devices9.3. Wireless Electrocardiograph Devices
10. Global Electrocardiograph Device Market, By Lead Type (USD Million)
10.1. Global Electrocardiograph Device Market Value Share and Forecast, By Lead Type, 2023-203310.2. Single Lead Electrocardiograph Devices10.3. 2 Lead Electrocardiograph Devices10.4. 3 Lead Electrocardiograph Devices10.5. 5 Lead Electrocardiograph Devices10.6. 6 Lead Electrocardiograph Devices10.7. 12 Lead Electrocardiograph Devices10.8. Other ECG Lead Devices
11. Global Electrocardiograph Device Market Forecast, 2019-2033 (USD Million)
11.1. Global Electrocardiograph Device Market Size and Market Share
12. Global Electrocardiograph Device Market, By Product 2019-2033 (USD Million)
12.1. Global Electrocardiograph Device Market Size and Market Share by Product (2019-2026)12.2. Global Electrocardiograph Device Market Size and Market Share by Product (2027-2033)
13. Global Electrocardiograph Device Market, By End User, 2019-2033 (USD Million)
13.1. Global Electrocardiograph Device Market Size and Market Share by End User (2019-2026)13.2. Global Electrocardiograph Device Market Size and Market Share by End User (2027-2033)
14. Global Electrocardiograph Device Market, By Technology, 2019-2033 (USD Million)
14.1. Global Electrocardiograph Device Market Size and Market Share by Technology (2019-2026)14.2. Global Electrocardiograph Device Market Size and Market Share by Technology (2027-2033)
15. Global Electrocardiograph Device Market, By Lead Type, 2019-2033 (USD Million)
15.1. Global Electrocardiograph Device Market Size and Market Share by Lead Type (2019-2026)15.2. Global Electrocardiograph Device Market Size and Market Share by Lead Type (2027-2033)
16. Global Electrocardiograph Device Market, By Region, 2019-2033 (USD Million)
16.1. Global Electrocardiograph Device Market Size and Market Share by Region (2019-2026)16.2. Global Electrocardiograph Device Market Size and Market Share by Region (2027-2033)16.3. Asia-Pacific
16.3.1. Australia16.3.2. China16.3.3. India16.3.4. Japan16.3.5. South Korea
16.3.6. Rest of Asia-Pacific16.4. Europe
16.4.1. France16.4.2. Germany16.4.3. Italy16.4.4. Spain16.4.5. United Kingdom16.4.6. Rest of Europe
16.5. Middle East and Africa
16.5.1. Kingdom of Saudi Arabia16.5.2. United Arab Emirates16.5.3. Rest of Middle East & Africa
16.6. North America
16.6.1. Canada16.6.2. Mexico16.6.3. United States
16.7. Latin America
16.7.1. Argentina16.7.2. Brazil16.7.3. Rest of Latin America
17. Company Profile
17.1. GE Healthcare
17.1.1. Company details17.1.2. Financial outlook17.1.3. Product summary17.1.4. Recent developments
17.2. Hill-Rom Holdings, Inc. (Baxter International Inc.)
17.2.1. Company details17.2.2. Financial outlook17.2.3. Product summary17.2.4. Recent developments
17.3. Johnson & Johnson
17.3.1. Company details17.3.2. Financial outlook17.3.3. Product summary17.3.4. Recent developments
17.4. Medtronic PLC
17.4.1. Company details17.4.2. Financial outlook17.4.3. Product summary17.4.4. Recent developments
17.5. Minidray Medical International Limited
17.5.1. Company details17.5.2. Financial outlook17.5.3. Product summary17.5.4. Recent developments
17.6. Nihon Kohden Corporation
17.6.1. Company details17.6.2. Financial outlook17.6.3. Product summary17.6.4. Recent developments
17.7. Opto Circuits Limited
17.7.1. Company details17.7.2. Financial outlook17.7.3. Product summary17.7.4. Recent developments
17.8. OSI Systems Fukuda Denshi Co Ltd.
17.8.1. Company details17.8.2. Financial outlook17.8.3. Product summary17.8.4. Recent developments
17.9. Philips Healthcare (Koninklijke Philips N.V.)
17.9.1. Company details17.9.2. Financial outlook17.9.3. Product summary17.9.4. Recent developments
17.10. Schiller AG
17.10.1. Company details17.10.2. Financial outlook17.10.3. Product summary17.10.4. Recent developments
17.11. Others
18. List of Abbreviations
19. Reference Links
20. Conclusion
21. Research Scope
SPER Market Research’s methodology uses great emphasis on primary research to ensure that the market intelligence insights are up to date, reliable and accurate. Primary interviews are done with players involved in each phase of a supply chain to analyze the market forecasting. The secondary research method is used to help you fully understand how the future markets and the spending patterns look likes.
The report is based on in-depth qualitative and quantitative analysis of the Product Market. The quantitative analysis involves the application of various projection and sampling techniques. The qualitative analysis involves primary interviews, surveys, and vendor briefings. The data gathered as a result of these processes are validated through experts opinion. Our research methodology entails an ideal mixture of primary and secondary initiatives.
Frequently Asked Questions About This Report
Electrocardiograph Device Market is projected to reach USD XX billion by 2033, growing at a CAGR of XX% during the forecast period.
Electrocardiograph Device Market grew in market size from 2022. The Market is expected to reach USD XX billion by 2033, at a CAGR of XX% during the forecast period.
Electrocardiograph Device Market CAGR of XX% during the forecast period.
You can get the sample pages by clicking the link - Click Here
Electrocardiograph Device Market size is USD XX billion from 2023 to 2033.
Electrocardiograph Device Market Segment is covered By Technology, By Cap Type, By End User, By Operating Speed.
The North America is anticipated to have the highest market share in the Electrocardiograph Device Market.
The key players in the market include Companies Covered GE Healthcare, Hill-Rom Holdings, Inc. (Baxter International Inc.), Johnson & Johnson, Medtronic PLC, Minidray Medical International Limited.
The diagnostic electrocardiogram (DEG) is a medical device that uses electrodes placed in contact with the chest to record the electrical activity of the heart in waveforms
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