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).
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
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| Regions covered | North America, Asia-Pacific, Latin America, Middle East & Africa and Europe
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| 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
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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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By Product:
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Event Recorders
Holter Monitors
Implantable Loop Recorders
Mobile Cardiac Telemetry Devices
Rest Electrocardiograph (ECG) Devices
Smart ECG Monitors
Stress Electrocardiograph (ECG) Devices
Others
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By End User:
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Ambulatory Surgical Centres (ASCs)
Home Settings
Hospitals, Clinics & Cardiac Centres
Others
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By Technology:
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Portable Electrocardiograph Devices
Wireless Electrocardiograph Devices
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By Lead Type:
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Single Lead Electrocardiograph 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
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By Region:
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Asia-Pacific
Europe
Middle East & Africa
North America
Latin America
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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 report
1.2. Market segment analysis
2. Research Methodology
2.1. Research data source
2.1.1. Secondary Data
2.1.2. Primary Data
2.1.3. SPER’s internal database
2.1.4. 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. Drivers
4.1.2. Restraints
4.1.3. Opportunities
4.1.4. Challenges
4.2. COVID-19 Impacts on the Global Electrocardiograph Device Market
5. Market variable and outlook
5.1. SWOT Analysis
5.1.1. Strengths
5.1.2. Weaknesses
5.1.3. Opportunities
5.1.4. Threats
5.2. PESTEL Analysis
5.2.1. Political Landscape
5.2.2. Economic Landscape
5.2.3. Social Landscape
5.2.4. Technological Landscape
5.2.5. Environmental Landscape
5.2.6. Legal Landscape
5.3. PORTER’s Five Forces
5.3.1. Bargaining power of suppliers
5.3.2. Bargaining power of buyers
5.3.3. Threat of Substitute
5.3.4. Threat of new entrant
5.3.5. Competitive rivalry
5.4. Heat Map Analysis
6. Competitive Landscape
6.1. Global Electrocardiograph Device Market Manufacturing Base Distribution, Sales Area, Product Type
6.2. 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, 2023-2033
7.2. Event Recorders
7.3. Holter Monitors
7.4. Implantable Loop Recorders
7.5. Mobile Cardiac Telemetry Devices
7.6. Rest Electrocardiograph (ECG) Devices
7.7. Smart ECG Monitors
7.8. Stress Electrocardiograph (ECG) Devices
7.9. Others
8. Global Electrocardiograph Device Market, By End User (USD Million)
8.1. Global Electrocardiograph Device Market Value Share and Forecast, By End User, 2023-2033
8.2. Ambulatory Surgical Centres (ASCs)
8.3. Home Settings
8.4. Hospitals, Clinics & Cardiac Centres
8.5. Others
9. Global Electrocardiograph Device Market, By Technology (USD Million)
9.1. Global Electrocardiograph Device Market Value Share and Forecast, By Technology, 2023-2033
9.2. Portable Electrocardiograph Devices
9.3. 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, 2023-2033
10.2. Single Lead Electrocardiograph Devices
10.3. 2 Lead Electrocardiograph Devices
10.4. 3 Lead Electrocardiograph Devices
10.5. 5 Lead Electrocardiograph Devices
10.6. 6 Lead Electrocardiograph Devices
10.7. 12 Lead Electrocardiograph Devices
10.8. 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. Australia
16.3.2. China
16.3.3. India
16.3.4. Japan
16.3.5. South Korea
16.3.6. Rest of Asia-Pacific
16.4. Europe
16.4.1. France
16.4.2. Germany
16.4.3. Italy
16.4.4. Spain
16.4.5. United Kingdom
16.4.6. Rest of Europe
16.5. Middle East and Africa
16.5.1. Kingdom of Saudi Arabia
16.5.2. United Arab Emirates
16.5.3. Rest of Middle East & Africa
16.6. North America
16.6.1. Canada
16.6.2. Mexico
16.6.3. United States
16.7. Latin America
16.7.1. Argentina
16.7.2. Brazil
16.7.3. Rest of Latin America
17. Company Profile
17.1. GE Healthcare
17.1.1. Company details
17.1.2. Financial outlook
17.1.3. Product summary
17.1.4. Recent developments
17.2. Hill-Rom Holdings, Inc. (Baxter International Inc.)
17.2.1. Company details
17.2.2. Financial outlook
17.2.3. Product summary
17.2.4. Recent developments
17.3. Johnson & Johnson
17.3.1. Company details
17.3.2. Financial outlook
17.3.3. Product summary
17.3.4. Recent developments
17.4. Medtronic PLC
17.4.1. Company details
17.4.2. Financial outlook
17.4.3. Product summary
17.4.4. Recent developments
17.5. Minidray Medical International Limited
17.5.1. Company details
17.5.2. Financial outlook
17.5.3. Product summary
17.5.4. Recent developments
17.6. Nihon Kohden Corporation
17.6.1. Company details
17.6.2. Financial outlook
17.6.3. Product summary
17.6.4. Recent developments
17.7. Opto Circuits Limited
17.7.1. Company details
17.7.2. Financial outlook
17.7.3. Product summary
17.7.4. Recent developments
17.8. OSI Systems Fukuda Denshi Co Ltd.
17.8.1. Company details
17.8.2. Financial outlook
17.8.3. Product summary
17.8.4. Recent developments
17.9. Philips Healthcare (Koninklijke Philips N.V.)
17.9.1. Company details
17.9.2. Financial outlook
17.9.3. Product summary
17.9.4. Recent developments
17.10. Schiller AG
17.10.1. Company details
17.10.2. Financial outlook
17.10.3. Product summary
17.10.4. Recent developments
17.11. Others
18. List of Abbreviations
19. Reference Links
20. Conclusion
21. Research Scope