Electrocardiograph Market to Reach USD 9.32 Billion by 2028 – Reports and Data
Rising prevalence of cardiovascular disorders, growing awareness about early diagnosis of heart diseases, and increasing investments in research and development activities are key factors boosting global market growth.
The global electrocardiograph market size is expected to reach USD 9.32 Billion in 2028 and register a CAGR of 5.8%, according to the latest report by Reports and Data. Advancements in the healthcare sector, introduction of portable devices, and increasing adoption of Artificial Intelligence (AI) in medical devices are key factors driving global market revenue growth.
An electrocardiograph (ECG) is an instrument that records electric activity of the heart. Increasing incidence of cardiovascular diseases such as stroke, ischemic heart disease, atrial fibrillation, heart failure, peripheral artery diseases, and other complications and rising need for cardiac monitoring devices is boosting demand for electrocardiographs. Increasing adoption of sedentary lifestyle, increasing geriatric population, unhealthy eating habits, excess consumption of alcohol and availability of advanced EGC devices, and high adoption of ambulatory surgical centers are boosting global market growth. In addition, improving healthcare infrastructure, favorable reimbursement scenario, and increasing healthcare expenditure are also fueling market revenue growth. Favorable government support, improving healthcare facilities, and increasing investments to develop enhanced products are expected to fuel global market growth in the coming years.
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Key highlights in the report
- Among the lead type, the 3-6 lead segment is expected to account for significant revenue growth between 2021 and 2028. Ability of 3-6 lead to rapidly identify injury, low cost, and high-efficiency rate are key factors fueling market growth.
- Based on device type, the Holter monitor segment is expected to account for steady revenue growth over the forecast period owing to factors such as portability, increasing demand for ambulatory centers, 24-48 hour patient monitoring and high adoption of Holter monitors in these services.
- The smart wearable ECG monitors segment is projected to register highest revenue CAGR over the forecast period. Factors such as increasing prevalence of cardiovascular diseases, rising healthcare awareness, increasing need for tracking conditions of the heart, and cost-effectiveness of the product are fueling segment revenue growth.
- The hospital segment is projected to account for largest revenue share throughout the forecast period. Increasing prevalence of cardiovascular diseases, well-developed infrastructure, and availability of advanced equipment are booting segment revenue growth.
- Electrocardiograph market in North America is expected to account for largest revenue growth during the forecast period. Rising incidence of cardiovascular diseases, well-established healthcare infrastructure, availability of advanced EGC monitoring devices and portable EGC devices, and increasing investments in R&D are key factors fueling market growth.
- Asia Pacific is projected to register highest CAGR over the forecast period. Factors such as rising geriatric population, improving healthcare systems, increasing cases of various cardiovascular diseases, and rising per capita income are boosting market revenue growth.
- Mortara Instrument, INC., GE Healthcare (General Electric Company), Mindray Medical International Limited, Medtronic, OPTO Circuits Limited, OSI Systems Fukuda Denshi CO LTD, Philips Healthcare (Koninklijke Philips N.V.), Schiller AG, Spacelabs Healthcare and Nihon Kohden Corporation are leading companies operating in the global electrocardiograph market.
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For this study, Reports and Data has segmented the global electrocardiograph market based on device, technology, lead type, application, end-use, and region:
Device Type Outlook (Revenue, USD Billion, 2018 - 2028)
- Stress ECG
- Holter Monitors
- Wireless Holter Monitors
- Wired Holter Monitors
- Resting ECG
Technology Type Outlook (Revenue, USD Billion, 2018 - 2028)
- Automatic Diagnosis and Anatomical Detection
- Mobile Cardiac outpatient telemetry (MCT/MCOT)
- Electronic ECG management system
- Smart Wearable ECG Monitors
- Artificial Intelligence
Lead type Outlook (Revenue, USD Billion, 2018 - 2028)
- Single Lead
- 3-6 Lead
Distribution channel Type Outlook (Revenue, USD Billion, 2018 - 2028)
Application Type Outlook (Revenue, USD Billion, 2018 - 2028)
- Atrial Fibrillation
- Ventricular Fibrillation
- Myocardial ischemia
- Myocardial infarction
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End-use Outlook (Revenue, USD Billion, 2018 - 2028)
- Ambulatory Surgical Centers
- Homecare Settings
Regional Outlook (Revenue, USD Billion, 2018 - 2028)
- North America
- Rest Of Europe
- Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of MEA
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