Diagnostic ECG Market Analysis By Product(Resting ECG, Stress ECG Devices, Holter Monitors, Implantable Loop Recorders, Event Monitors, MCT Devices, Smart ECG Monitors), By Lead Type(12-lead ECG Devices, 5-lead ECG Devices, 3-lead ECG Devices, 6-lead ECG Devices, Single-lead), By End User(Hospitals, Clinics and Cardiac Centers, Ambulatory Surgical Centers) & Forecast 2024-2035
- PUBLISHED ON
- 9/1/2022
- NO OF PAGES
- 231
- CATEGORY
- Healthcare & Life Sciences
The global diagnostic ECG market size was valued at USD 7.5 billion in 2021 and is projected to reach around USD 12.0 billion in 2030 exhibiting a CAGR of 5.0% in the forecasted period.
The rising demand for diagnostic electrocardiograph (ECG) among end-users, including hospitals and clinics. The important factor driving the diagnostic ECG market is the incidence of cardiac illnesses. The WHO reported that cardiac disease is among the major causes of mortality across the globe. About 18 million people die of cardiovascular illnesses yearly, accounting for 31% of global fatalities. The high frequency of cardiovascular diseases drives the demand for diagnostic ECGs and upsurges industry growth.
Growth in elderly population with a high risk of growth of cardiovascular diseases and rising awareness among people concerning availability of non-invasive systems are major factors boosting growth of the global diagnostic ECG market. Growing prevalence of chronic heart diseases in western nations led by changes in lifestyle and intake habits has compelled demand for reliable testing devices such as diagnostic ECG devices. Favourable government reimbursement policies, improvement of healthcare infrastructure, and increasing investments in R&D activities by public and private sectors are other factors boosting growth of the global diagnostic ECG market. Nevertheless, high prices related with diagnostic electrocardiograph devices, indeterminate economic conditions, and necessity for scheduled maintenance check are anticipated to hamper growth of the global market over the forecast period.
The current COVID-19 pandemic has extensively affected the normal functioning of hospitals and the manufacturing industry and, hence, the global diagnostic ECG market. Numerous hospitals intended for elective surgeries have been transformed into emergency centers for patients diseased by COVID-19. There has been a decrease in accessibility of medical supplies and supply chains have been considerably disrupted. However, the increasing need for intensive care units is anticipated to create new opportunities for growth of the diagnostic ECG market over the forecasted period.
Product Insights
The resting ECG devices segment holds more than 60% of the diagnostic ECG market, making it the highest market with a robust segment. This is mostly due to quicker, more precise diagnosis with no preparatory time. As per the Victorian Department of Health, a resting ECG generally takes 5 to 10 minutes to analyze a patient when his body is completely at rest. Moreover, it promptly detects specific heart problems such as ischemia, hypertrophy of the heart, myocardial infarction, sequelae of myocardial infarction, and cardiac arrhythmias, which contribute to the expansion of this segment. As per the CDC, about 800,000 people annually suffer from myocardial infarction. Approximately 600,000 suffered myocardial infarctions for the first time, while the rest have formerly experienced the disease.
However, Holter monitors are projected to have the fastest growth. Holter ECG monitors are observed as the most prominent kind of ambulatory ECG monitoring that led to their widespread use in identifying many cardiovascular diseases. Holter monitors are less expensive than conventional ECG machines. As per the study, the cost of a Holter monitor was around USD 64, although a traditional ECG costs USD 128. The development of wireless Holter monitors generally contributed to their rapid growth in the global diagnostic ECG market.
End User Insights
Hospitals represented the highest market share, with around 47% in 2021, owing to the rising number of individuals looking for cardiovascular disease diagnosis and treatment in hospitals. As per the CDC, 4.6% of US adults have been detected with coronary heart disease. About 6.9% of Americans visited physician offices due to their cardiac diseases. Nearly 7.2% of Americans have visited emergency departments to diagnose and treat these diseases. Moreover, higher expenditure on purchasing ECG gadgets for better cardiac treatment increases the segment’s growth.
Region Insights
North America lead in 2021 and accounted for the largest share of more than 50% of the total revenue. The increase in the need for the minimally invasive procedures. Moreover, the rising number of elderly populations and the growth in the per-capita income will further increase the growth of the diagnostic ECG market in the region during the forecasted period.
However, Asia-Pacific is anticipated to witness substantial growth in the diagnostic ECG market owing to the growth in the population base. Furthermore, the increase in the expendable income. Additionally, the emerging of the healthcare infrastructure is further estimated to impel the growth of the diagnostic ECG market in the region in the forthcoming years.
Key Companies Insights
Key players are aiming on their technological partnerships, collaborations, and merger & acquisitions policies to gain a competitive edge and expand their product portfolio & business footmark. The ongoing COVID-19 pandemic hindered the healthcare systems worldwide and driven market players to update products for unexploited scenarios.
Some of the key players operating in the global diagnostic ECG market include:
· General Electric Company
· Koninklijke Philips N.V.
· NIHON KOHDEN CORPORATION.
· Hill-Rom Services, Inc.
· Ambu A/S.
· SCHILLER
· ACSDiagnostics.
· BPL, FUKUDA DENSHI
· BioTelemetry, Inc.
· OSI Systems, Inc.
· BTL.
· Allengers
· Shenzhen Mindray Bio-Medical Electronics Co., Ltd.
· EDAN Instruments, Inc.
· Cardioline S.P.A.
· SUZUKEN CO., LTD.
· Norav Medical
· BIONET
· VectraCor, Inc.
· Nexus Lifecare
· Midmark Corporation
· Spacelabs Healthcare
· Innomed Medical Inc.
· Other players
Some of the Recent Developments:
· In March 2022, GE Healthcare declared its partnership with AliveCor. Healthcare professionals can utilize GE Healthcare’s MUSE system with the KardiaMobile 6L ECG device. The partnership intends to upsurge patient convenience and decrease cardio-based hospitalizations by improving the patient’s data quality and integration.
· In January, 2021, BioTelemetry, Inc. acquired by Koninklijke Philips N.V. Philips will be able to expand its portfolio of patient care management solutions after the acquisition.
Segments
By Product
· Resting ECG
· Stress ECG Devices
· Holter Monitors
· Implantable Loop Recorders
· Event Monitors
· MCT Devices
· Smart ECG Monitors
By Lead Type
· 12-lead ECG Devices
· 5-lead ECG Devices
· 3-lead ECG Devices
· 6-lead ECG Devices
· Single-lead
· Other Lead Types
By End User
· Hospitals
· Clinics and Cardiac Centers
· Ambulatory Surgical Centers
· Other End Users
By Geography
· North America
o U.S.
o Canada
o Mexico
· Europe
o U.K.
o Germany
o France
o Italy
o Spain
o Russia
· Asia-Pacific
o Japan
o China
o India
o Australia
o South Korea
o ASEAN
· Latin America
o Brazil
o Argentina
o Colombia
· MEA
o South Africa
o Saudi Arabia
o UAE
o Egypt
Key Points:
Define, describe and forecast Diagnostic Ecg product market by type, application, end user and region.
Provide enterprise external environment analysis and PEST analysis.
Provide strategies for company to deal with the impact of COVID-19.
Provide market dynamic analysis, including market driving factors, market development constraints.
Provide market entry strategy analysis for new players or players who are ready to enter the market, including market segment definition, client analysis, distribution model, product messaging and positioning, and price strategy analysis.
Keep up with international market trends and provide analysis of the impact of the COVID-19 epidemic on major regions of the world.
Analyze the market opportunities of stakeholders and provide market leaders with details of the competitive landscape.
Years considered for this report:
Historical Years: 2016-2021
Base Year: 2021
Estimated Year: 2022
Forecast Period: 2022-2030
Historic Year: 2016-2022
Forecast: 2024-2035
1 Diagnostic Ecg Market Definition and Overview
1.1 Objectives of the Study
1.2 Overview of Diagnostic Ecg
1.3 Diagnostic Ecg Market Scope and Market Size Estimation
1.4 Market Segmentation
1.4.1 Types of Diagnostic Ecg
1.4.2 Applications of Diagnostic Ecg
1.5 Market Exchange Rate
2 Research Method and Logic
2.1 Methodology
2.2 Research Data Source
3 Market Competition Analysis
3.1 Mortara Instrument Inc. Market Performance Analysis
3.1.1 Mortara Instrument Inc. Basic Information
3.1.2 Product and Service Analysis
3.1.3 Strategies for Company to Deal with the Impact of COVID-19
3.1.4 Mortara Instrument Inc. Sales, Value, Price, Gross Margin 2016-2021
3.2 Compumed Inc. Market Performance Analysis
3.2.1 Compumed Inc. Basic Information
3.2.2 Product and Service Analysis
3.2.3 Strategies for Company to Deal with the Impact of COVID-19
3.2.4 Compumed Inc. Sales, Value, Price, Gross Margin 2016-2021
3.3 Nihon Kohden Corporation Market Performance Analysis
3.3.1 Nihon Kohden Corporation Basic Information
3.3.2 Product and Service Analysis
3.3.3 Strategies for Company to Deal with the Impact of COVID-19
3.3.4 Nihon Kohden Corporation Sales, Value, Price, Gross Margin 2016-2021
3.4 GE Healthcare Market Performance Analysis
3.4.1 GE Healthcare Basic Information
3.4.2 Product and Service Analysis
3.4.3 Strategies for Company to Deal with the Impact of COVID-19
3.4.4 GE Healthcare Sales, Value, Price, Gross Margin 2016-2021
3.5 Schiller AG Market Performance Analysis
3.5.1 Schiller AG Basic Information
3.5.2 Product and Service Analysis
3.5.3 Strategies for Company to Deal with the Impact of COVID-19
3.5.4 Schiller AG Sales, Value, Price, Gross Margin 2016-2021
3.6 Spacelabs Healthcare Market Performance Analysis
3.6.1 Spacelabs Healthcare Basic Information
3.6.2 Product and Service Analysis
3.6.3 Strategies for Company to Deal with the Impact of COVID-19
3.6.4 Spacelabs Healthcare Sales, Value, Price, Gross Margin 2016-2021
3.7 Mindray Medical Market Performance Analysis
3.7.1 Mindray Medical Basic Information
3.7.2 Product and Service Analysis
3.7.3 Strategies for Company to Deal with the Impact of COVID-19
3.7.4 Mindray Medical Sales, Value, Price, Gross Margin 2016-2021
3.8 Welch Allyn. Market Performance Analysis
3.8.1 Welch Allyn. Basic Information
3.8.2 Product and Service Analysis
3.8.3 Strategies for Company to Deal with the Impact of COVID-19
3.8.4 Welch Allyn. Sales, Value, Price, Gross Margin 2016-2021
3.9 Cardionet Market Performance Analysis
3.9.1 Cardionet Basic Information
3.9.2 Product and Service Analysis
3.9.3 Strategies for Company to Deal with the Impact of COVID-19
3.9.4 Cardionet Sales, Value, Price, Gross Margin 2016-2021
3.10 Philips Healthcare Market Performance Analysis
3.10.1 Philips Healthcare Basic Information
3.10.2 Product and Service Analysis
3.10.3 Strategies for Company to Deal with the Impact of COVID-19
3.10.4 Philips Healthcare Sales, Value, Price, Gross Margin 2016-2021
4 Market Segment by Type, Historical Data and Market Forecasts
4.1 Global Diagnostic Ecg Production and Value by Type
4.1.1 Global Diagnostic Ecg Production by Type 2016-2021
4.1.2 Global Diagnostic Ecg Market Value by Type 2016-2021
4.2 Global Diagnostic Ecg Market Production, Value and Growth Rate by Type 2016-2021
4.2.1 Resting & Stress ECG Systems Market Production, Value and Growth Rate
4.2.2 Holter Monitors Market Production, Value and Growth Rate
4.3 Global Diagnostic Ecg Production and Value Forecast by Type
4.3.1 Global Diagnostic Ecg Production Forecast by Type 2021-2026
4.3.2 Global Diagnostic Ecg Market Value Forecast by Type 2021-2026
4.4 Global Diagnostic Ecg Market Production, Value and Growth Rate by Type Forecast 2021-2026
4.4.1 Resting & Stress ECG Systems Market Production, Value and Growth Rate Forecast
4.4.2 Holter Monitors Market Production, Value and Growth Rate Forecast
5 Market Segment by Application, Historical Data and Market Forecasts
5.1 Global Diagnostic Ecg Consumption and Value by Application
5.1.1 Global Diagnostic Ecg Consumption by Application 2016-2021
5.1.2 Global Diagnostic Ecg Market Value by Application 2016-2021
5.2 Global Diagnostic Ecg Market Consumption, Value and Growth Rate by Application 2016-2021
5.2.1 Hospitals Market Consumption, Value and Growth Rate
5.2.2 Clinics Market Consumption, Value and Growth Rate
5.2.3 Home Market Consumption, Value and Growth Rate
5.3 Global Diagnostic Ecg Consumption and Value Forecast by Application
5.3.1 Global Diagnostic Ecg Consumption Forecast by Application 2021-2026
5.3.2 Global Diagnostic Ecg Market Value Forecast by Application 2021-2026
5.4 Global Diagnostic Ecg Market Consumption, Value and Growth Rate by Application Forecast 2021-2026
5.4.1 Hospitals Market Consumption, Value and Growth Rate Forecast
5.4.2 Clinics Market Consumption, Value and Growth Rate Forecast
5.4.3 Home Market Consumption, Value and Growth Rate Forecast
6 Global Diagnostic Ecg by Region, Historical Data and Market Forecasts
6.1 Global Diagnostic Ecg Sales by Region 2016-2021
6.2 Global Diagnostic Ecg Market Value by Region 2016-2021
6.3 Global Diagnostic Ecg Market Sales, Value and Growth Rate by Region 2016-2021
6.3.1 North America
6.3.2 Europe
6.3.3 Asia Pacific
6.3.4 South America
6.3.5 Middle East and Africa
6.4 Global Diagnostic Ecg Sales Forecast by Region 2021-2026
6.5 Global Diagnostic Ecg Market Value Forecast by Region 2021-2026
6.6 Global Diagnostic Ecg Market Sales, Value and Growth Rate Forecast by Region 2021-2026
6.6.1 North America
6.6.2 Europe
6.6.3 Asia Pacific
6.6.4 South America
6.6.5 Middle East and Africa
7 United State Market Size Analysis 2016-2026
7.1 United State Diagnostic Ecg Value and Market Growth 2016-2021
7.2 United State Diagnostic Ecg Sales and Market Growth 2016-2021
7.3 United State Diagnostic Ecg Market Value Forecast 2021-2026
8 Canada Market Size Analysis 2016-2026
8.1 Canada Diagnostic Ecg Value and Market Growth 2016-2021
8.2 Canada Diagnostic Ecg Sales and Market Growth 2016-2021
8.3 Canada Diagnostic Ecg Market Value Forecast 2021-2026
9 Germany Market Size Analysis 2016-2026
9.1 Germany Diagnostic Ecg Value and Market Growth 2016-2021
9.2 Germany Diagnostic Ecg Sales and Market Growth 2016-2021
9.3 Germany Diagnostic Ecg Market Value Forecast 2021-2026
10 UK Market Size Analysis 2016-2026
10.1 UK Diagnostic Ecg Value and Market Growth 2016-2021
10.2 UK Diagnostic Ecg Sales and Market Growth 2016-2021
10.3 UK Diagnostic Ecg Market Value Forecast 2021-2026
11 France Market Size Analysis 2016-2026
11.1 France Diagnostic Ecg Value and Market Growth 2016-2021
11.2 France Diagnostic Ecg Sales and Market Growth 2016-2021
11.3 France Diagnostic Ecg Market Value Forecast 2021-2026
12 Italy Market Size Analysis 2016-2026
12.1 Italy Diagnostic Ecg Value and Market Growth 2016-2021
12.2 Italy Diagnostic Ecg Sales and Market Growth 2016-2021
12.3 Italy Diagnostic Ecg Market Value Forecast 2021-2026
13 Spain Market Size Analysis 2016-2026
13.1 Spain Diagnostic Ecg Value and Market Growth 2016-2021
13.2 Spain Diagnostic Ecg Sales and Market Growth 2016-2021
13.3 Spain Diagnostic Ecg Market Value Forecast 2021-2026
14 Russia Market Size Analysis 2016-2026
14.1 Russia Diagnostic Ecg Value and Market Growth 2016-2021
14.2 Russia Diagnostic Ecg Sales and Market Growth 2016-2021
14.3 Russia Diagnostic Ecg Market Value Forecast 2021-2026
15 China Market Size Analysis 2016-2026
15.1 China Diagnostic Ecg Value and Market Growth 2016-2021
15.2 China Diagnostic Ecg Sales and Market Growth 2016-2021
15.3 China Diagnostic Ecg Market Value Forecast 2021-2026
16 Japan Market Size Analysis 2016-2026
16.1 Japan Diagnostic Ecg Value and Market Growth 2016-2021
16.2 Japan Diagnostic Ecg Sales and Market Growth 2016-2021
16.3 Japan Diagnostic Ecg Market Value Forecast 2021-2026
17 South Korea Market Size Analysis 2016-2026
17.1 South Korea Diagnostic Ecg Value and Market Growth 2016-2021
17.2 South Korea Diagnostic Ecg Sales and Market Growth 2016-2021
17.3 South Korea Diagnostic Ecg Market Value Forecast 2021-2026
18 Australia Market Size Analysis 2016-2026
18.1 Australia Diagnostic Ecg Value and Market Growth 2016-2021
18.2 Australia Diagnostic Ecg Sales and Market Growth 2016-2021
18.3 Australia Diagnostic Ecg Market Value Forecast 2021-2026
19 Thailand Market Size Analysis 2016-2026
19.1 Thailand Diagnostic Ecg Value and Market Growth 2016-2021
19.2 Thailand Diagnostic Ecg Sales and Market Growth 2016-2021
19.3 Thailand Diagnostic Ecg Market Value Forecast 2021-2026
20 Brazil Market Size Analysis 2016-2026
20.1 Brazil Diagnostic Ecg Value and Market Growth 2016-2021
20.2 Brazil Diagnostic Ecg Sales and Market Growth 2016-2021
20.3 Brazil Diagnostic Ecg Market Value Forecast 2021-2026
21 Argentina Market Size Analysis 2016-2026
21.1 Argentina Diagnostic Ecg Value and Market Growth 2016-2021
21.2 Argentina Diagnostic Ecg Sales and Market Growth 2016-2021
21.3 Argentina Diagnostic Ecg Market Value Forecast 2021-2026
22 Chile Market Size Analysis 2016-2026
22.1 Chile Diagnostic Ecg Value and Market Growth 2016-2021
22.2 Chile Diagnostic Ecg Sales and Market Growth 2016-2021
22.3 Chile Diagnostic Ecg Market Value Forecast 2021-2026
23 South Africa Market Size Analysis 2016-2026
23.1 South Africa Diagnostic Ecg Value and Market Growth 2016-2021
23.2 South Africa Diagnostic Ecg Sales and Market Growth 2016-2021
23.3 South Africa Diagnostic Ecg Market Value Forecast 2021-2026
24 Egypt Market Size Analysis 2016-2026
24.1 Egypt Diagnostic Ecg Value and Market Growth 2016-2021
24.2 Egypt Diagnostic Ecg Sales and Market Growth 2016-2021
24.3 Egypt Diagnostic Ecg Market Value Forecast 2021-2026
25 UAE Market Size Analysis 2016-2026
25.1 UAE Diagnostic Ecg Value and Market Growth 2016-2021
25.2 UAE Diagnostic Ecg Sales and Market Growth 2016-2021
25.3 UAE Diagnostic Ecg Market Value Forecast 2021-2026
26 Saudi Arabia Market Size Analysis 2016-2026
26.1 Saudi Arabia Diagnostic Ecg Value and Market Growth 2016-2021
26.2 Saudi Arabia Diagnostic Ecg Sales and Market Growth 2016-2021
26.3 Saudi Arabia Diagnostic Ecg Market Value Forecast 2021-2026
27 Market Dynamic Analysis and Development Suggestions
27.1 Market Drivers
27.2 Market Development Constraints
27.3 PEST Analysis
27.3.1 Political Factors
27.3.2 Economic Factors
27.3.3 Social Factors
27.3.4 Technological Factors
27.4 Industry Trends Under COVID-19
27.4.1 Risk Assessment on COVID-19
27.4.2 Assessment of the Overall Impact of COVID-19 on the Industry
27.4.3 Pre COVID-19 and Post COVID-19 Market Scenario
27.5 Market Entry Strategy Analysis
27.5.1 Market Definition
27.5.2 Client
27.5.3 Distribution Model
27.5.4 Product Messaging and Positioning
27.5.5 Price
27.6 Advice on Entering the Market
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