The diagnostic electrocardiograph (ECG) market is projected to grow at a CAGR of 6.4%
NEW YORK, Jan. 27, 2020 /PRNewswire/ --
The diagnostic electrocardiograph (ECG) market is projected to grow at a CAGR of 6.4% during the forecast period.
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The global diagnostic electrocardiograph (ECG) market size is expected to reach USD 10.3 billion by 2024 from USD 7.5 billion in 2019, at a CAGR of 6.4% during the forecast period. The scope of the report includes diagnostic ECG products and services used for the continuous monitoring, detection, and treatment of heart activities and abnormal heart rhythm (electric heart patterns).
The rising incidence of lifestyle-related cardiovascular diseases, growing geriatric population, and increasing technological advancements in wireless monitoring and wearable devices are the major factors driving the growth of the market. However, the dearth of skilled professionals is expected to restrain the growth of the diagnostic electrocardiograph (ECG) market to a certain extent.
The 3-lead ECG segment is expected to grow at the highest CAGR in the diagnostic electrocardiograph (ECG) market during the forecast period
By lead type, the diagnostic ECG market is divided into 12-lead, 5-lead, 3-lead, 6-lead, single-lead, and other lead types (15- and 18-lead).The 3-lead segment is expected to grow at the highest CAGR during the forecast period.
This positive growth is due to the fact that these leads are used conjointly with various other cardiac diagnostic tests and during medical procedures.
Resting ECG devices held the largest share of the diagnostic electrocardiograph (ECG) industry in 2018
Based on products and services, the diagnostic electrocardiograph (ECG) market is classified into ECG devices, implantable loop recorders, event monitors, cardiac output monitors, mobile cardiac telemetry, and smart wearable ECG monitors. The large share of this segment can primarily be attributed to the increasing incidence of cardiovascular diseases, the wide application of ECG devices in CVD management, the development of technologically advanced devices, and government initiatives.
Hospitals, clinics, & cardiac centers held the largest share of the diagnostic electrocardiograph (ECG) market in 2018
Based on end user, the diagnostic electrocardiograph (ECG) market is classified into hospitals, clinics, & cardiac centers; ambulatory surgical centers; and other end users. The large share of the hospitals, clinics, & cardiac centers segment can primarily be attributed to increasing the need for quality cardiology care and increasing prevalence of cardiovascular diseases, growing number of cardiac centers, increasing number of patient visits to physician offices for the diagnosis of CVDs, and the availability of reimbursements for Holter & event monitors across developed markets.
North America accounted for the largest share of the market in 2019
On the basis of region, the diagnostic electrocardiograph (ECG) market is segmented into North America, Europe, Asia, and RoW.North America accounted for the largest share of the diagnostic electrocardiograph (ECG) market in 2018.
The large share of this regional segment can be attributed to the growth in the geriatric population and the subsequent growth in the prevalence of cardiovascular diseases, high accessibility to advanced technologies, increasing development of innovative and technologically advanced products, and increasing healthcare expenditure in the region.
Break-up of Primaries:
-- By Respondent Type: Supply Side (80%), Demand Side (20%)
-- By Designation: C-level (57%), D-level (18%), and Others (25%)
-- By Region: North America (50%), Europe (20%), APAC (20%), and RoW (10%)
The major key players in the diagnostic electrocardiograph (ECG) market are GE Healthcare (US), Philips Healthcare (Netherlands), Nihon Kohden (Japan), Hill-Rom Holdings (US), and Ambu (Denmark).
Research Coverage:
In this report, the diagnostic electrocardiograph (ECG) market is segmented by product & service, lead type, end user, and region. The report provides a detailed overview of the major drivers, challenges, opportunities, and restraining factors impacting the market, along with the estimates and forecasts of the revenue.
Reasons to Buy this Report:
The report provides insights into the following pointers:
-- Market Penetration: Comprehensive information on the portfolios offered by the top players in the diagnostic electrocardiograph (ECG) market. The report analyzes the market by product & service, lead type, end user, and region.
-- Product Development: Detailed insights into the upcoming research & development activities and product launches in the diagnostic electrocardiograph (ECG) market.
-- Market Development: Comprehensive information about the lucrative emerging markets. The report analyzes the markets for diagnostic electrocardiograph (ECG) across regions.
-- Market Diversification: Exhaustive information about new products, untapped geographies, and recent developments in the diagnostic electrocardiograph (ECG) industry.
-- Competitive Assessment: In-depth assessment of strategies, products, and manufacturing capabilities of the key players in the diagnostic electrocardiograph (ECG) market.
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