ECG Devices Market Size, Share and Global Trend By Product (Wearable Holter Monitor, Portable Handheld ECG, Lead), By End User (Hospitals, Ambulatory surgical centers, Diagnostic centers, Specialty Clinics, Others), and Regional Forecast, 2024-2032

Electrocardiography is a method of generating an electrocardiogram ECG or EKG which records the electrical activity of the heart to detect any small kind of changes in the cardiac cycle. The appearance of changes in the cardiac cycle during ECG signifies the presence of various heart abnormalities such as atrial fibrillation, myocardial ischemia, and myocardial infarction. Changing lifestyle, high-stress level, smoking, and obesity are some of the risk factors associated with heart diseases.

ECG devices can help in early diagnosis of a variety of cardiac diseases. Wearable Holter monitors and handheld ECG devices are mainly used to monitor the heart rhythm. Increasing prevalence of cardiac arrest and widespread awareness about the early diagnosis of heart diseases are anticipated to fuel the growth of ECG devices market during the forecast period.

According to the American Heart Association (AHA), it is estimated that around 4 million patients worldwide suffer from arrhythmias. In 2019, by AliveCor, Inc. received approval from the FDA to use a Kardia Mobile, a personal ECG device to detect Bradycardia and Tachycardia. new product launches by many key players and growing technological advancements are likely to boost the growth of ECG devices market during the forecast period

Increasing prevalence of cardiovascular disease, growing elderly population, and increase in the demand for cost-effective ECG devices for diagnosis of cardiac disease are some of the factors likely to drive the growth of ECG devices market during the forecast period. Also, novel technological advances in ECG devices, improving the workflow are another major factor anticipated to fuel the growth of ECG devices market during the forecast period.

However, the high cost of heart diseases diagnosis & patient care is likely to hamper the growth of ECG devices market during the forecast period.

Key Players Covered

Some of the major companies that are present in the global ECG devices market are General Electric Company, Koninklijke Philips N.V., OSI Systems Fukuda Denshi Co Ltd., Schiller AG, Opto Circuits Limited, Medtronic, Spacelabs Healthcare Inc., Bionet, Cardiac Science, Midmark Corporation, Cardionet Inc., Omron Healthcare, Inc. among others.

SEGMENTATION

Among product segmentation, portable handheld ECG devices segment is likely to hold the largest ECG devices market share during the projected period due to their light and compact weight, are economically feasible, and aids in real-time monitoring of a heartbeat.

Key Insights

• Overview of Technological Advancements in ECG Devices
• Pricing Analysis of Key Products
• Epidemiology Analysis of Heart Diseases
• The Regulatory Scenario of Key Countries/Regions
• Key Industry Developments – Mergers, Acquisitions, And Partnerships

Regional Analysis

Geographically, the global ECG devices market can be segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America is likely to dominate ECG Devices market during the forecast period owing to the growing prevalence of the cardiovascular disease, growing adoption of a sedentary lifestyle, and growing awareness by healthcare organization about novel technologies used for the early diagnostic of cardiac-related issues. Asia Pacific regions are anticipated to register highest CAGR during the forecast period owing to the increase in the geriatric patient pool, growing investments by government organizations in providing better healthcare infrastructure, and growing adoption of innovative technology in the emerging nations.

Key Industry Developments

• In May 2019, Abbott, launched RX Implantable Cardiac Monitor (ICM), a paperclip-sized implantable device, combined with the smartphone connectivity which continuously monitors the heart beat in order to track unpredictable heart rhythm problems for quick and accurate diagnosis.
• In April 2019, KardiaMobile a personal ECG device manufactured by AliveCor, Inc. received approval from FDA that can be used to detect atrial fibrillation at heart rates below 40 and above 120.
• In February 2019, CardioComm Solutions, Inc., received clearance from FDA to use HeartCheck CardiBeat handle head ECG device which is used to heart beat monitoring and also received approval to use GEM mobile ECG app.
• In January 2019, Omron Healthcare, Inc. Launched the first personal blood pressure monitor with EKG capability in a single device in the U.S.