Analysts’ Viewpoint on ECG Devices Market Scenario
High prevalence of cardiovascular diseases across the globe and launch of technologically advanced ECG equipment are expected to propel the global ECG devices market during the forecast period. Increase in geriatric population, rise in number of people adopting sedentary lifestyle, and growth in tobacco & alcohol consumption are also anticipated to augment the ECG devices market. Increase in focus on health care in developing countries is likely to offer immense opportunities to players operating in the global ECG devices market.
ECG device is generally used alongside other tests to help diagnose and monitor conditions affecting the heart. It is a painless, non-invasive source that helps diagnose many common heart-related issues. Increase in geriatric population, unhealthy diet, and obesity among various age groups are projected to propel the ECG devices market in the near future.
The prevalence of cardiovascular diseases is high across the globe. Cardiovascular diseases include a group of disorders of blood vessels and the heart such as congenital heart disease, rheumatic heart disease, coronary heart disease, and cerebrovascular disease. Increase in prevalence of cardiovascular diseases in developing countries can be linked to the rise in incidence of hypertension; increase in smoking, and growth in obesity caused by sedentary lifestyle. Presence of a large patient pool suffering from cardiovascular diseases is projected to drive the global ECG devices market during the forecast period.
Aging is one of the key factors responsible for the increase in the incidence of disorders such as hypertension and high blood cholesterol level. This is likely to drive the demand for cardiovascular monitoring and diagnostic devices, such as ECG, that enable quick diagnosis of the disease and monitoring of patients.
According to a study published in the American Journal of Medicine, the U.S. population is aging rapidly. Increase in life expectancy is likely to result in a doubling of the population aged 65 years or above from 40 million people in 2010 to 81 million by 2040. The mortality rate is the highest in Eastern Europe and middle-income countries. Overall CVD death rates are higher in low- and middle-income countries than those in developed countries. Increase in population aged 65 years or above augments the demand for diagnostic and monitoring devices including ECG devices. This is anticipated to drive the global ECG devices market during the forecast period.
The resting ECG systems segment dominated the global ECG devices market, accounting for a market share of around 50% in 2021. Higher share of the segment can be ascribed to the better exchange of information through Cardiovascular Information Systems (CVIS) and Electronic Health Record (EHRs), which simplify ECG workflow and reduce the complexity associated with custom integration, and rise in usage of resting ECG systems in hospitals, clinics, and ambulatory surgical centers. Development and launch of technologically advanced electrocardiogram devices – recently developed ECG monitoring systems are designed to improve workflow and simplify operation – is expected to propel the segment during the forecast period. Holter monitoring system and stress ECG system are also rapidly growing segments based on technology type.
Based on end-user, the hospitals segment is projected to account for dominant share of the global ECG devices market from 2022 to 2031. The ambulatory surgical centers segment is also anticipated to grow at a high CAGR from 2022 to 2031. Major share of the hospitals segment can be ascribed to the increase in usage of ECG devices in cardiac settings across hospitals, as an electrocardiogram is the most common diagnostic tool in the cardiac department. It is also the most frequently performed test in hospitals. Increase in preference for ambulatory surgical centers, as these are high-quality, cost-effective settings for cardiac patients and cardiovascular procedures, is expected to propel the ambulatory surgical centers segment during the forecast period.
North America accounted for the prominent share of around 40% of the global ECG devices market in 2021. The market in the region is projected to expand at a CAGR of more than 6.9% from 2022 to 2031. GE Healthcare and Philips Healthcare have reported significantly high sales of medical devices, including ECG devices, from North America, followed by Europe.
In terms of CAGR, Asia Pacific is likely to be the fastest-growing region of the global market by 2031. The market in the region is expected to grow at a CAGR of 8.2% during the forecast period owing to the large population in countries such as India and China, significant presence of geriatric population in Japan, and improving health care facilities. Additionally, untapped opportunities and rise in awareness about cardiovascular diseases are expected to drive the ECG devices market in the region during the forecast period.
The global ECG devices market is consolidated, with a few key players accounting for a major share. Most companies are making significant investments in research & development activities. Expansion of product portfolios and mergers & acquisitions are the key strategies adopted by the players. Key players operating in the market include GE Healthcare, Nihon Kohden Corporation, Hill-Rom Holdings, Inc., Koninklijke Philips N.V., Spacelabs Healthcare (OSI Systems, Inc.), Fukuda Denshi Co., Ltd, SCHILLER AG, Shenzhen Mindray Bio-Medical Electronics Co., Ltd., and CompuMed, Inc.
Each of these players has been profiled in the ECG devices market report based on parameters such as company overview, financial overview, business strategies, product portfolio, business segments, and recent developments.
|
Attribute |
Detail |
|
Market Size Value in 2021 |
US$ 5.6 Bn |
|
Market Forecast Value in 2031 |
US$ 11.6 Bn |
|
Growth Rate |
7.3% |
|
Forecast Period |
2022–2031 |
|
Historical Data Available for |
2017–2020 |
|
Quantitative Units |
US$ Bn for Value |
|
Market Analysis |
It includes segment analysis at global and regional level. Moreover, qualitative analysis includes drivers, restraints, opportunities, key trends, and parent industry overview. |
|
Competition Landscape |
Market share analysis by company (2021) Company profiles section includes overview, product portfolio, sales footprint, key subsidiaries or distributors, strategy & recent developments, and key financials. |
|
Format |
Electronic (PDF) + Excel |
|
Market Segmentation |
|
|
Regions Covered |
|
|
Companies Profiled |
|
|
Customization Scope |
Available upon request |
|
Pricing |
Available upon request |
The global ECG devices market was valued at US$ 5.6 Bn in 2021
The global ECG devices market is projected to reach US$ 11.6 Bn by 2031
The global ECG devices market expanded at a CAGR of 3.4% from 2017 to 2021
The global ECG devices market is anticipated to expand at a CAGR of 7.3% from 2022 to 2031
Increase in patient population with cardiovascular diseases, surge in the geriatric population, and availability of technologically advanced products driving the global market
The resting ECG systems segment held around 50% share of the global ECG devices market in 2021
North America is expected to account for major share of the global market during the forecast period
Prominent players in the global ECG devices market include GE Healthcare, Nihon Kohden Corporation, Hill-Rom Holdings, Inc., Spacelabs Healthcare (OSI Systems, Inc.), Fukuda Denshi Co., Ltd, SCHILLER AG, Shenzhen Mindray Bio-Medical Electronics Co., Ltd., and CompuMed, Inc.
1. Preface
1.1. Market Definition and Scope
1.2. Market Segmentation
1.3. Key Research Objectives
1.4. Research Highlights
2. Assumptions and Research Methodology
3. Executive Summary: Global ECG Devices Market
4. Market Overview
4.1. Introduction
4.1.1. Technology Definition
4.2. Overview
4.3. Market Dynamics
4.3.1. Drivers
4.3.2. Restraints
4.3.3. Opportunities
4.4. Global ECG Devices Market Analysis and Forecast, 2017–2031
4.4.1. Market Revenue Projections (US$ Mn)
4.5. Porter’s Five Force Analysis
5. Key Insights
5.1. Technological Advancements
5.2. Key Mergers & Acquisitions
6. Global ECG Devices Market Analysis and Forecast, by Technology
6.1. Introduction & Definition
6.2. Key Findings / Developments
6.3. Market Value Forecast, by Technology, 2017–2031
6.3.1. Resting ECG Systems
6.3.2. Holter Monitor
6.3.3. Stress ECG Systems
6.3.4. Event Monitor
6.3.5. Mobile Cardiac Telemetry
6.4. Market Attractiveness Analysis, by Technology
7. Global ECG Devices Market Analysis and Forecast, by End-user
7.1. Introduction & Definition
7.2. Key Findings / Developments
7.3. Market Value Forecast, by End-user, 2017–2031
7.3.1. Hospitals
7.3.2. Specialized Clinics
7.3.3. Ambulatory Surgical Centers
7.3.4. Others
7.4. Market Attractiveness Analysis, by End-user
8. Global ECG Devices Market Analysis and Forecast, by Region
8.1. Key Findings
8.2. Market Value Forecast, by Region
8.2.1. North America
8.2.2. Europe
8.2.3. Asia Pacific
8.2.4. Latin America
8.2.5. Middle East & Africa
8.3. Market Attractiveness Analysis, by Region
9. North America ECG Devices Market Analysis and Forecast
9.1. Introduction
9.1.1. Key Findings
9.2. Market Value Forecast, by Technology, 2017–2031
9.2.1. Resting ECG Systems
9.2.2. Holter Monitor
9.2.3. Stress ECG Systems
9.2.4. Event Monitor
9.2.5. Mobile Cardiac Telemetry
9.3. Market Value Forecast, by End-user, 2017–2031
9.3.1. Hospitals
9.3.2. Specialized Clinics
9.3.3. Ambulatory Surgical Centers
9.3.4. Others
9.4. Market Value Forecast, by Country, 2017–2031
9.4.1. U.S.
9.4.2. Canada
9.5. Market Attractiveness Analysis
9.5.1. By Technology
9.5.2. By End-user
9.5.3. By Country
10. Europe ECG Devices Market Analysis and Forecast
10.1. Introduction
10.1.1. Key Findings
10.2. Market Value Forecast, by Technology, 2017–2031
10.2.1. Resting ECG Systems
10.2.2. Holter Monitor
10.2.3. Stress ECG Systems
10.2.4. Event Monitor
10.2.5. Mobile Cardiac Telemetry
10.3. Market Value Forecast, by End-user, 2017–2031
10.3.1. Hospitals
10.3.2. Specialized Clinics
10.3.3. Ambulatory Surgical Centers
10.3.4. Others
10.4. Market Value Forecast, by Country/Sub-region, 2017–2031
10.4.1. Germany
10.4.2. U.K.
10.4.3. France
10.4.4. Italy
10.4.5. Spain
10.4.6. Rest of Europe
10.5. Market Attractiveness Analysis
10.5.1. By Technology
10.5.2. By End-user
10.5.3. By Country/Sub-region
11. Asia Pacific ECG Devices Market Analysis and Forecast
11.1. Introduction
11.1.1. Key Findings
11.2. Market Value Forecast, by Technology, 2017–2031
11.2.1. Resting ECG Systems
11.2.2. Holter Monitor
11.2.3. Stress ECG Systems
11.2.4. Event Monitor
11.2.5. Mobile Cardiac Telemetry
11.3. Market Value Forecast, by End-user, 2017–2031
11.3.1. Hospitals
11.3.2. Specialized Clinics
11.3.3. Ambulatory Surgical Centers
11.3.4. Others
11.4. Market Value Forecast, by Country/Sub-region, 2017–2031
11.4.1. China
11.4.2. India
11.4.3. Japan
11.4.4. Australia & New Zealand
11.4.5. Rest of Asia Pacific
11.5. Market Attractiveness Analysis
11.5.1. By Technology
11.5.2. By End-user
11.5.3. By Country/Sub-region
12. Latin America ECG Devices Market Analysis and Forecast
12.1. Introduction
12.1.1. Key Findings
12.2. Market Value Forecast, by Technology, 2017–2031
12.2.1. Resting ECG Systems
12.2.2. Holter Monitor
12.2.3. Stress ECG Systems
12.2.4. Event Monitor
12.2.5. Mobile Cardiac Telemetry
12.3. Market Value Forecast, by End-user, 2017–2031
12.3.1. Hospitals
12.3.2. Specialized Clinics
12.3.3. Ambulatory Surgical Centers
12.3.4. Others
12.4. Market Value Forecast, by Country/Sub-region, 2017–2031
12.4.1. Brazil
12.4.2. Mexico
12.4.3. Rest of Latin America
12.5. Market Attractiveness Analysis
12.5.1. By Technology
12.5.2. By End-user
12.5.3. By Country/Sub-region
13. Middle East & Africa ECG Devices Market Analysis and Forecast
13.1. Introduction
13.1.1. Key Findings
13.2. Market Value Forecast, by Technology, 2017–2031
13.2.1. Resting ECG Systems
13.2.2. Holter Monitor
13.2.3. Stress ECG Systems
13.2.4. Event Monitor
13.2.5. Mobile Cardiac Telemetry
13.3. Market Value Forecast, by End-user, 2017–2031
13.3.1. Hospitals
13.3.2. Specialized Clinics
13.3.3. Ambulatory Surgical Centers
13.3.4. Others
13.4. Market Value Forecast, by Country/Sub-region, 2017–2031
13.4.1. GCC Countries
13.4.2. South Africa
13.4.3. Rest of Middle East & Africa
13.5. Market Attractiveness Analysis
13.5.1. By Technology
13.5.2. By End-user
13.5.3. By Country/Sub-region
14. Competition Landscape
14.1. Market Player - Competition Matrix (by tier and size of companies)
14.2. Market Share Analysis, by Company, 2021
14.3. Competitive Business Strategies
14.4. Company Profiles
14.4.1. GE Healthcare
14.4.1.1. Company Overview (HQ, Business Segments, Employee Strength)
14.4.1.2. Product Portfolio
14.4.1.3. Financial Overview
14.4.1.4. SWOT Analysis
14.4.1.5. Strategic Overview
14.4.2. Philips Group (Philips Healthcare)
14.4.2.1. Company Overview (HQ, Business Segments, Employee Strength)
14.4.2.2. Product Portfolio
14.4.2.3. Financial Overview
14.4.2.4. SWOT Analysis
14.4.2.5. Strategic Overview
14.4.3. BioTelemetry, Inc.
14.4.3.1. Company Overview (HQ, Business Segments, Employee Strength)
14.4.3.2. Product Portfolio
14.4.3.3. Financial Overview
14.4.3.4. SWOT Analysis
14.4.3.5. Strategic Overview
14.4.4. Nihon Kohden Corporation
14.4.4.1. Company Overview (HQ, Business Segments, Employee Strength)
14.4.4.2. Product Portfolio
14.4.4.3. Financial Overview
14.4.4.4. SWOT Analysis
14.4.4.5. Strategic Overview
14.4.5. Hill-Rom Holdings, Inc.
14.4.5.1. Company Overview (HQ, Business Segments, Employee Strength)
14.4.5.2. Product Portfolio
14.4.5.3. Financial Overview
14.4.5.4. SWOT Analysis
14.4.5.5. Strategic Overview
14.4.6. Spacelabs Healthcare (OSI Systems, Inc.)
14.4.6.1. Company Overview (HQ, Business Segments, Employee Strength)
14.4.6.2. Product Portfolio
14.4.6.3. Financial Overview
14.4.6.4. SWOT Analysis
14.4.6.5. Strategic Overview
14.4.7. Fukuda Denshi Co., Ltd
14.4.7.1. Company Overview (HQ, Business Segments, Employee Strength)
14.4.7.2. Product Portfolio
14.4.7.3. Financial Overview
14.4.7.4. SWOT Analysis
14.4.7.5. Strategic Overview
14.4.8. Schiller AG
14.4.8.1. Company Overview (HQ, Business Segments, Employee Strength)
14.4.8.2. Product Portfolio
14.4.8.3. Financial Overview
14.4.8.4. SWOT Analysis
14.4.8.5. Strategic Overview
14.4.9. Mindray Medical International Limited
14.4.9.1. Company Overview (HQ, Business Segments, Employee Strength)
14.4.9.2. Product Portfolio
14.4.9.3. Financial Overview
14.4.9.4. SWOT Analysis
14.4.9.5. Strategic Overview
14.4.10. CompuMed, Inc.
14.4.10.1. Company Overview (HQ, Business Segments, Employee Strength)
14.4.10.2. Product Portfolio
14.4.10.3. Financial Overview
14.4.10.4. SWOT Analysis
14.4.10.5. Strategic Overview
List of Tables
Table 1: Global ECG Devices Market Value (US$ Mn) Forecast, by Technology, 2017–2031
Table 2: Global ECG Devices Market Value (US$ Mn) Forecast, by End-user, 2017–2031
Table 3: Global ECG Devices Market Value (US$ Mn) Forecast, by Region, 2017–2031
Table 4: North America ECG Devices Market Value (US$ Mn) Forecast, by Technology, 2017–2031
Table 5: North America ECG Devices Market Value (US$ Mn) Forecast, by End-user, 2017–2031
Table 6: North America ECG Devices Market Value (US$ Mn) Forecast, by Country, 2017–2031
Table 7: Europe ECG Devices Market Value (US$ Mn) Forecast, by Technology, 2017–2031
Table 8: Europe ECG Devices Market Value (US$ Mn) Forecast, by End-user, 2017–2031
Table 9: Europe ECG Devices Market Value (US$ Mn) Forecast, by Country/Sub-region, 2017–2031
Table 10: Asia Pacific ECG Devices Market Value (US$ Mn) Forecast, by Technology, 2017–2031
Table 11: Asia Pacific ECG Devices Market Value (US$ Mn) Forecast, by End-user, 2017–2031
Table 12: Asia Pacific ECG Devices Market Value (US$ Mn) Forecast, by Country/Sub-region, 2017–2031
Table 13: Latin America ECG Devices Market Value (US$ Mn) Forecast, by Technology, 2017–2031
Table 14: Latin America ECG Devices Market Value (US$ Mn) Forecast, by End-user, 2017–2031
Table 15: Latin America ECG Devices Market Value (US$ Mn) Forecast, by Country/Sub-region, 2017–2031
Table 16: Middle East & Africa ECG Devices Market Value (US$ Mn) Forecast, by Technology, 2017–2031
Table 17: Middle East & Africa ECG Devices Market Value (US$ Mn) Forecast, by End-user, 2017–2031
Table 18: Middle East & Africa ECG Devices Market Value (US$ Mn) Forecast, by Country/Sub-region, 2017–2031
List of Figures
Figure 1: Global Population, by Age Group (%), 2020
Figure 2: Global Population, by Age Group (%), 2050
Figure 3: Global ECG Devices Market Value (US$ Mn), 2017–2031
Figure 4: Global ECG Market Value Share, by Technology, 2021
Figure 5: Global ECG Market Value Share, by Region, 2021
Figure 6: Global ECG Market Value Share, by End-user, 2021
Figure 7: Global ECG Devices Market Value Share Analysis, by Technology, 2021 and 2031
Figure 8: Global ECG Devices Market Value (US$ Mn) Forecast and Y-o-Y Growth (%), by Resting ECG Systems, 2017–2031
Figure 9: Global ECG Devices Market Value (US$ Mn) Forecast and Y-o-Y Growth (%), by Holter Monitor, 2017–2031
Figure 10: Global ECG Devices Market Value (US$ Mn) Forecast and Y-o-Y Growth (%), by Stress ECG Systems, 2017–2031
Figure 11: Global ECG Devices Market Value (US$ Mn) Forecast and Y-o-Y Growth (%), by Event Monitor, 2017–2031
Figure 12: Global ECG Devices Market Value (US$ Mn) Forecast and Y-o-Y Growth (%), by Mobile Cardiac Telemetry, 2017–2031
Figure 13: Global ECG Devices Market Attractiveness Analysis, by Technology, 2022-2031
Figure 14: Global ECG Devices Market Value Share Analysis, by End-user, 2021 and 2031
Figure 15: Global ECG Devices Market Value (US$ Mn) Forecast and Y-o-Y Growth (%), by Hospitals, 2017–2031
Figure 16: Global ECG Devices Market Value (US$ Mn) Forecast and Y-o-Y Growth (%), by Specialized Clinics, 2017–2031
Figure 17: Global ECG Devices Market Value (US$ Mn) Forecast and Y-o-Y Growth (%), by Ambulatory Surgical Centers (ASCs), 2017–2031
Figure 18: Global ECG Devices Market Value (US$ Mn) Forecast and Y-o-Y Growth (%), by Others, 2017–2031
Figure 19: Global ECG Devices Market Attractiveness Analysis, by End-user, 2022-2031
Figure 20: Global ECG Devices Market Value Share Analysis, by Region, 2021 and 2031
Figure 21: Global ECG Devices Market Attractiveness Analysis, by Region, 2022-2031
Figure 22: North America ECG Devices Market (US$ Mn) Forecast, 2017–2031
Figure 23: North America ECG Devices Market Value Share Analysis, by Technology, 2021 and 2031
Figure 24: North America ECG Devices Market Attractiveness Analysis, by Technology, 2022-2031
Figure 25: North America ECG Devices Market Value Share Analysis, by End-user, 2021 and 2031
Figure 26: North America ECG Devices Market Attractiveness Analysis, by End-user, 2022-2031
Figure 27: North America ECG Devices Market Value Share Analysis, by Country, 2021 and 2031
Figure 28: North America ECG Devices Market Attractiveness Analysis, by Country 2022-2031
Figure 29: Europe ECG Devices Market (US$ Mn) Forecast, 2017–2031
Figure 30: Europe ECG Devices Market Value Share Analysis, by Technology, 2021 and 2031
Figure 31: Europe ECG Devices Market Attractiveness Analysis, by Technology, 2022-2031
Figure 32: Europe ECG Devices Market Value Share Analysis, by End-user, 2021 and 2031
Figure 33: Europe ECG Devices Market Attractiveness Analysis, by End-user, 2022-2031
Figure 34: Europe ECG Devices Market Value Share Analysis, by Country/Sub-region, 2017 and 2031
Figure 35: Europe ECG Devices Market Attractiveness Analysis, by Country/Sub-region, 2022-2031
Figure 36: Asia Pacific ECG Devices Market (US$ Mn) Forecast, 2017–2031
Figure 37: Asia Pacific ECG Devices Market Value Share Analysis, by Technology, 2021 and 2031
Figure 38: Asia Pacific CG Devices Market Attractiveness Analysis, by Technology, 2022-2031
Figure 39: Asia Pacific ECG Devices Market Value Share Analysis, by End-user, 2021 and 2031
Figure 40: Asia Pacific ECG Devices Market Attractiveness Analysis, by End-user, 2022-2031
Figure 41: Asia Pacific ECG Devices Market Value Share Analysis, by Country/Sub-region, 2021 and 2031
Figure 42: Asia Pacific ECG Devices Market Attractiveness Analysis, by Country/Sub-region, 2022-2031
Figure 43: Latin America ECG Devices Market (US$ Mn) Forecast, 2017–2031
Figure 44: Latin America ECG Devices Market Value Share Analysis, by Technology, 2021 and 2031
Figure 45: Latin America CG Devices Market Attractiveness Analysis, by Technology, 2022-2031
Figure 46: Latin America ECG Devices Market Value Share Analysis, by End-user, 2021 and 2031
Figure 47: Latin America ECG Devices Market Attractiveness Analysis, by End-user, 2022-2031
Figure 48: Latin America ECG Devices Market Value Share Analysis, by Country/Sub-region, 2021 and 2031
Figure 49: Latin America ECG Devices Market Attractiveness Analysis, by Country/Sub-region, 2022-2031
Figure 50: Middle East & Africa ECG Devices Market (US$ Mn) Forecast, 2017–2031
Figure 51: Middle East & Africa ECG Devices Market Value Share Analysis, by Technology, 2021 and 2031
Figure 52: Middle East & Africa ECG Devices Market Attractiveness Analysis, by Technology, 2022-2031
Figure 53: Middle East & Africa ECG Devices Market Value Share Analysis, by End-user, 2021 and 2031
Figure 54: Middle East & Africa ECG Devices Market Attractiveness Analysis, by End-user, 2022-2031
Figure 55: Middle East & Africa ECG Devices Market Value Share Analysis, by Country/Sub-region, 2021 and 2031
Figure 56: Middle East & Africa ECG Devices Market Attractiveness Analysis, by Country/Sub-region, 2022-2031
Figure 57: Global ECG Devices Market Share Analysis, by Company (2021)
Copyright © Transparency Market Research, Inc. All Rights reserved
Trust Online
ECG Devices Market
