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ECG Analysis System Market Analysis By Type(Single-Channel, Three Channel, Six Channel, Twelve Channel), By End User(Hospitals, Clinics and Cardiac Centers, Ambulatory Surgical Centers, Other End Users) & Forecast

  • PUBLISHED ON
  • 9/1/2022
  • NO OF PAGES
  • 281
  • CATEGORY
  • Healthcare & Life Sciences

The global ECG analysis system market size was valued at USD 6.1 billion in 2021 and is projected to reach around USD 10.0 billion in 2030 exhibiting a CAGR of 6.5% in the forecasted period. The growing incidence of cardiac arrhythmia and rising demand for ambulatory monitoring devices are anticipated to drive the market. The increasing elderly population, technological advancements, and advancements in ECG analysis systems.

The increase in the elderly population is anticipated to be a significant factor propelling the market for ECG analysis systems. As per the National Institute on Aging (NIA)-a part of the National Institutes of Health-8.5% of the people globally (617 million) is aged 65 or older. In Europe, the population aged 60 years or above was around 25.7% in 2017, which is expected to grow to 32.2% by 2050. The risk of diabetes and cardiovascular diseases upsurges with age that results in a higher prevalence of these diseases in adults aged 60 and above. As per the study published by American Heart Association in 2016, about 85.6 million adults in the U.S. suffer from one or more cardiac diseases, about 43.7 million adults are projected to be more than 60 years of age.

The shift from paper ECG review to electronic ECG analysis system over the past decade has helped improve efficacy. Furthermore, development in the ECG analysis system such as the improvement of the open platform has upgraded integration with Cardiovascular Information Systems (CVIS), smartphones, and cloud-based systems. For instance, in April 2016, GE Healthcare launched latest version of Muse ECG management system-MUSE v9-that permits clinicians better access to all ECG waveforms and related data from multiple devices, vendors, and test types.

The current COVID-19 pandemic has extensively affected the normal functioning of hospitals and the manufacturing industry and, hence, the global ECG analysis system 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 ECG analysis system market over the forecasted period.

Type Insights

Single-Channel ECG analysis system is a system where the solo monitoring channel permits to display and record in real-time, the electrical activity of the ventricle. It also offers information about heart rate, rhythm, and intervals between the QRS complex.

A Three-channel ECG system consists of three electrodes that are placed in certain locations on the patient's body. The location of two electrodes is fixed while one electrode can be moved to change its location. Three Channel is ECG Analysis System with three electrodes giving a more accurate result.

End User Insights

Hospitals represented the highest market share, with around 45% 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 the US adults have been diagnosed with coronary heart disease. Around 6.9% of Americans visited physician offices due to their cardiac diseases. Approximately 7.2% of Americans have visited emergency departments to detect and treat these illnesses. Moreover, higher expenditure on purchasing ECG gadgets for better cardiac treatment increases the segment’s growth.

Region Insights

North America dominated the ECG analysis systems market and accounted for a revenue share of 45% in 2021. This is due to the growing elderly population and lifestyle diseases. As per the data published by the CDC in June 2020, heart disease registers for about 647,000 deaths in the U.S. each year. On average, one person dies due to CVD every 37 seconds in the U.S. Furthermore, approval and launch of advanced, next-generation ECG analysis system in the U.S. and Canada and high adoption of wearable devices are likely to boost the growth of the market in the region.

In the Asia Pacific, technological developments, such as wireless and real-time monitoring, rise in healthcare spending, and assistance from regulatory bodies are expected to boost market growth. As per the American Heart Association, amongst Asians, 6.1% have heart diseases, 21.0% have hypertension, 1.9% have had a stroke, and 3.7% have Coronary Heart Disease (CHD). Thus, the presence of a large patient pool, availability of high-quality services, and increasing medical tourism are likely to drive the market for ECG analysis system in the Asia Pacific throughout the forecasted period.

DESCIMG1

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 fields.

Some of the key players operating in the global ECG analysis system market include:

·         General Electric Company

·         Change Healthcare

·         Lynn Medical

·         BIOPAC Systems, Inc.

·         Contec Medical Systems Co., Ltd.

·         Norav Medical Ltd.

·         Solaris Medical Technology, Inc.

·         Nihon Kohden Corporation

·         BioTelemetry, Inc.

·         CompuMed, Inc.

·         Schiller AG

·         Hill Rom

·         Koninklijke Philips N.V.

·         Spacelabs Healthcare

·         McKesson Corporation

·         Drägerwerk AG & Co. KGaA

·         Mindray Bio-Medical Electronics Co., Ltd.

·         CardioComm Solutions, Inc.

·         Device Technologies

·         Meditech Equipment Co., Ltd.

·         ZOLL Medical Corporation

·         Medical ECONET GmbH

·         Other players

Some of the Recent Developments:

·         In 2020, CompuMed entered into a partnership with AliveCor and GE Healthcare to develop its product offerings in mobile electrocardiogram (ECG) and ultrasound solutions. The products consist of CompuMed powered GE MAC 800, AliveCor Heart Monitor, and a pocket-sized visualization tool.

·         In April 2016, GE Healthcare launched the latest version of Muse ECG management system-MUSE v9-that enables clinicians better access to all ECG waveforms and interrelated data from multiple devices, vendors, and test types.

Segments

By Type

·         Single-Channel

·         Three Channel

·         Six Channel

·         Twelve Channel

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 Ecg Analysis System 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.


1 Ecg Analysis System Market Definition and Overview
1.1 Objectives of the Study
1.2 Overview of Ecg Analysis System
1.3 Ecg Analysis System Market Scope and Market Size Estimation
1.4 Market Segmentation
1.4.1 Types of Ecg Analysis System
1.4.2 Applications of Ecg Analysis System
1.5 Market Exchange Rate

2 Research Method and Logic
2.1 Methodology
2.2 Research Data Source

3 Market Competition Analysis
3.1 Grady Medical Systems Market Performance Analysis
3.1.1 Grady Medical Systems 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 Grady Medical Systems Sales, Value, Price, Gross Margin 2016-2021
3.2 Solaris Medical Market Performance Analysis
3.2.1 Solaris Medical 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 Solaris Medical Sales, Value, Price, Gross Margin 2016-2021
3.3 BIOPAC Systems Market Performance Analysis
3.3.1 BIOPAC Systems 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 BIOPAC Systems Sales, Value, Price, Gross Margin 2016-2021
3.4 Cardioline Market Performance Analysis
3.4.1 Cardioline 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 Cardioline Sales, Value, Price, Gross Margin 2016-2021
3.5 Innomed Medical Market Performance Analysis
3.5.1 Innomed Medical 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 Innomed Medical Sales, Value, Price, Gross Margin 2016-2021
3.6 NORAV Medical Market Performance Analysis
3.6.1 NORAV Medical 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 NORAV Medical Sales, Value, Price, Gross Margin 2016-2021
3.7 Contec Medical Systems Market Performance Analysis
3.7.1 Contec Medical Systems 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 Contec Medical Systems Sales, Value, Price, Gross Margin 2016-2021
3.8 Tenko Medical Market Performance Analysis
3.8.1 Tenko Medical 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 Tenko Medical Sales, Value, Price, Gross Margin 2016-2021
3.9 Medical Econet Market Performance Analysis
3.9.1 Medical Econet 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 Medical Econet Sales, Value, Price, Gross Margin 2016-2021
3.10 GE Medical Market Performance Analysis
3.10.1 GE Medical 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 GE Medical Sales, Value, Price, Gross Margin 2016-2021

4 Market Segment by Type, Historical Data and Market Forecasts
4.1 Global Ecg Analysis System Production and Value by Type
4.1.1 Global Ecg Analysis System Production by Type 2016-2021
4.1.2 Global Ecg Analysis System Market Value by Type 2016-2021
4.2 Global Ecg Analysis System Market Production, Value and Growth Rate by Type 2016-2021
4.2.1 Single-Channel Market Production, Value and Growth Rate
4.2.2 Three Channel Market Production, Value and Growth Rate
4.2.3 Six Channel Market Production, Value and Growth Rate
4.3 Global Ecg Analysis System Production and Value Forecast by Type
4.3.1 Global Ecg Analysis System Production Forecast by Type 2021-2026
4.3.2 Global Ecg Analysis System Market Value Forecast by Type 2021-2026
4.4 Global Ecg Analysis System Market Production, Value and Growth Rate by Type Forecast 2021-2026
4.4.1 Single-Channel Market Production, Value and Growth Rate Forecast
4.4.2 Three Channel Market Production, Value and Growth Rate Forecast
4.4.3 Six Channel Market Production, Value and Growth Rate Forecast

5 Market Segment by Application, Historical Data and Market Forecasts
5.1 Global Ecg Analysis System Consumption and Value by Application
5.1.1 Global Ecg Analysis System Consumption by Application 2016-2021
5.1.2 Global Ecg Analysis System Market Value by Application 2016-2021
5.2 Global Ecg Analysis System Market Consumption, Value and Growth Rate by Application 2016-2021
5.2.1 Hospital Market Consumption, Value and Growth Rate
5.2.2 Home Market Consumption, Value and Growth Rate
5.2.3 Clinic Market Consumption, Value and Growth Rate
5.3 Global Ecg Analysis System Consumption and Value Forecast by Application
5.3.1 Global Ecg Analysis System Consumption Forecast by Application 2021-2026
5.3.2 Global Ecg Analysis System Market Value Forecast by Application 2021-2026
5.4 Global Ecg Analysis System Market Consumption, Value and Growth Rate by Application Forecast 2021-2026
5.4.1 Hospital Market Consumption, Value and Growth Rate Forecast
5.4.2 Home Market Consumption, Value and Growth Rate Forecast
5.4.3 Clinic Market Consumption, Value and Growth Rate Forecast

6 Global Ecg Analysis System by Region, Historical Data and Market Forecasts
6.1 Global Ecg Analysis System Sales by Region 2016-2021
6.2 Global Ecg Analysis System Market Value by Region 2016-2021
6.3 Global Ecg Analysis System 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 Ecg Analysis System Sales Forecast by Region 2021-2026
6.5 Global Ecg Analysis System Market Value Forecast by Region 2021-2026
6.6 Global Ecg Analysis System 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 Ecg Analysis System Value and Market Growth 2016-2021
7.2 United State Ecg Analysis System Sales and Market Growth 2016-2021
7.3 United State Ecg Analysis System Market Value Forecast 2021-2026

8 Canada Market Size Analysis 2016-2026
8.1 Canada Ecg Analysis System Value and Market Growth 2016-2021
8.2 Canada Ecg Analysis System Sales and Market Growth 2016-2021
8.3 Canada Ecg Analysis System Market Value Forecast 2021-2026

9 Germany Market Size Analysis 2016-2026
9.1 Germany Ecg Analysis System Value and Market Growth 2016-2021
9.2 Germany Ecg Analysis System Sales and Market Growth 2016-2021
9.3 Germany Ecg Analysis System Market Value Forecast 2021-2026

10 UK Market Size Analysis 2016-2026
10.1 UK Ecg Analysis System Value and Market Growth 2016-2021
10.2 UK Ecg Analysis System Sales and Market Growth 2016-2021
10.3 UK Ecg Analysis System Market Value Forecast 2021-2026

11 France Market Size Analysis 2016-2026
11.1 France Ecg Analysis System Value and Market Growth 2016-2021
11.2 France Ecg Analysis System Sales and Market Growth 2016-2021
11.3 France Ecg Analysis System Market Value Forecast 2021-2026

12 Italy Market Size Analysis 2016-2026
12.1 Italy Ecg Analysis System Value and Market Growth 2016-2021
12.2 Italy Ecg Analysis System Sales and Market Growth 2016-2021
12.3 Italy Ecg Analysis System Market Value Forecast 2021-2026

13 Spain Market Size Analysis 2016-2026
13.1 Spain Ecg Analysis System Value and Market Growth 2016-2021
13.2 Spain Ecg Analysis System Sales and Market Growth 2016-2021
13.3 Spain Ecg Analysis System Market Value Forecast 2021-2026

14 Russia Market Size Analysis 2016-2026
14.1 Russia Ecg Analysis System Value and Market Growth 2016-2021
14.2 Russia Ecg Analysis System Sales and Market Growth 2016-2021
14.3 Russia Ecg Analysis System Market Value Forecast 2021-2026

15 China Market Size Analysis 2016-2026
15.1 China Ecg Analysis System Value and Market Growth 2016-2021
15.2 China Ecg Analysis System Sales and Market Growth 2016-2021
15.3 China Ecg Analysis System Market Value Forecast 2021-2026

16 Japan Market Size Analysis 2016-2026
16.1 Japan Ecg Analysis System Value and Market Growth 2016-2021
16.2 Japan Ecg Analysis System Sales and Market Growth 2016-2021
16.3 Japan Ecg Analysis System Market Value Forecast 2021-2026

17 South Korea Market Size Analysis 2016-2026
17.1 South Korea Ecg Analysis System Value and Market Growth 2016-2021
17.2 South Korea Ecg Analysis System Sales and Market Growth 2016-2021
17.3 South Korea Ecg Analysis System Market Value Forecast 2021-2026

18 Australia Market Size Analysis 2016-2026
18.1 Australia Ecg Analysis System Value and Market Growth 2016-2021
18.2 Australia Ecg Analysis System Sales and Market Growth 2016-2021
18.3 Australia Ecg Analysis System Market Value Forecast 2021-2026

19 Thailand Market Size Analysis 2016-2026
19.1 Thailand Ecg Analysis System Value and Market Growth 2016-2021
19.2 Thailand Ecg Analysis System Sales and Market Growth 2016-2021
19.3 Thailand Ecg Analysis System Market Value Forecast 2021-2026

20 Brazil Market Size Analysis 2016-2026
20.1 Brazil Ecg Analysis System Value and Market Growth 2016-2021
20.2 Brazil Ecg Analysis System Sales and Market Growth 2016-2021
20.3 Brazil Ecg Analysis System Market Value Forecast 2021-2026

21 Argentina Market Size Analysis 2016-2026
21.1 Argentina Ecg Analysis System Value and Market Growth 2016-2021
21.2 Argentina Ecg Analysis System Sales and Market Growth 2016-2021
21.3 Argentina Ecg Analysis System Market Value Forecast 2021-2026

22 Chile Market Size Analysis 2016-2026
22.1 Chile Ecg Analysis System Value and Market Growth 2016-2021
22.2 Chile Ecg Analysis System Sales and Market Growth 2016-2021
22.3 Chile Ecg Analysis System Market Value Forecast 2021-2026

23 South Africa Market Size Analysis 2016-2026
23.1 South Africa Ecg Analysis System Value and Market Growth 2016-2021
23.2 South Africa Ecg Analysis System Sales and Market Growth 2016-2021
23.3 South Africa Ecg Analysis System Market Value Forecast 2021-2026

24 Egypt Market Size Analysis 2016-2026
24.1 Egypt Ecg Analysis System Value and Market Growth 2016-2021
24.2 Egypt Ecg Analysis System Sales and Market Growth 2016-2021
24.3 Egypt Ecg Analysis System Market Value Forecast 2021-2026

25 UAE Market Size Analysis 2016-2026
25.1 UAE Ecg Analysis System Value and Market Growth 2016-2021
25.2 UAE Ecg Analysis System Sales and Market Growth 2016-2021
25.3 UAE Ecg Analysis System Market Value Forecast 2021-2026

26 Saudi Arabia Market Size Analysis 2016-2026
26.1 Saudi Arabia Ecg Analysis System Value and Market Growth 2016-2021
26.2 Saudi Arabia Ecg Analysis System Sales and Market Growth 2016-2021
26.3 Saudi Arabia Ecg Analysis System 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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Case Study- Automotive Sector

One of the key manufacturers of automotive had plans to invest in electric utility vehicles. The electric cars and associated markets being a of evolving nature, the automotive client approached Straits Research for a detailed insight on the market forecasts. The client specifically asked for competitive analysis, regulatory framework, regional prospects studied under the influence of drivers, challenges, opportunities, and pricing in terms of revenue and sales (million units).

Solution

The overall study was executed in three stages, intending to help the client meet its objective of precisely understanding the entire market before deciding on an investment. At first, secondary research was conducted considering political, economic, social, and technological parameters to get a gist of the various aspects of the market. This stage of the study concluded with the derivation of drivers, opportunities, and challenges. It also laid substantial emphasis on understanding and collecting data not only on a global scale but also on the regional and country levels. Data Extraction through Primary Research

The second stage involved primary research in which several market players and automotive parts suppliers were contacted to study their viewpoint concerning the development of their market and production capacity, clientele, and product line. This stage concluded in a brief understanding of the competitive ecosystem and also glanced through the strategies and pricing of the companies profiled.

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Case Study- ICT Sector

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Conclusion

The report aided the client in understanding the market trends, including country-level business scenarios, consumer behavior, and trends in 50 countries. The report also provided financial insights of crucial players and detailed market estimations and forecasts till 2028.


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