Aug 9, 2021   SOURCE: BusinessWire

Outlook on the Electrocardiographs Global Market to 2031 - Implementation of ECG in Hybrid Operating Rooms Presents Opportunities - ResearchAndMarkets.com

The "Global Electrocardiographs Market: Focus on Product Type, End User, Region, COVID-19 Impact, Competitive Landscape, and 22 Countries Data - Analysis and Forecast, 2021-2031" report has been added to ResearchAndMarkets.com's offering.

The Global Electrocardiographs Market is to Reach $9,826.8 Million by 2031.

Key Questions Answered in the Report

  • What was the impact of the COVID-19 pandemic on the global electrocardiographs market?
  • What are the key technological trends that influence the global electrocardiographs market? What is their future potential?
  • Who are the emerging or regional players in the global electrocardiographs market?
  • What are the legal regulations for electrocardiograph devices across various economies?
  • How has the patent filing trend influenced the growth of the global electrocardiographs market?
  • Who are the key players in the global electrocardiographs market?
  • What are the key synergistic activities employed by the companies operating or entering the global electrocardiographs market?
  • What are the key drivers and restraints for the global electrocardiographs market?
  • What are the growth opportunities in the global electrocardiographs market?
  • Which product type is anticipated to grow with the highest CAGR during the forecast period 2021-2031?
  • Which geographical region is anticipated to dominate the global electrocardiographs market during the forecast period 2021-2031?

Global Electrocardiographs Overview

An electrocardiograph (ECG) machine records the electrical activity of your heart. The ECG machine detects the electrical signals that make the heart pump blood around body. Conventional devices and emerging devices are two types of electrocardiographs based on product type. Conventional devices can be categorized into resting ECG machines and stress ECG machines. Electrocardiographs are currently dominated by conventional devices. ECG monitoring systems have been created and widely used in the healthcare business for past decades, and as smart supporting technologies have emerged, they have evolved substantially. ECG monitoring devices are now often employed in hospitals, home care settings, outpatient ambulatory settings, and remote settings. Under the conventional devices segment, resting ECG machines and stress ECG machines are included, whereas, under the emerging devices segment, implantable loop recorders, mobile cardiac telemetry, Holter monitors, and cardiac event monitors are included in the report.

The global electrocardiographs market report highlights that the market was valued at $4,394.1 million in 2020 and is expected to reach $9,826.8 million by the end of 2031. The market is expected to grow at a CAGR of 7.8% during the forecast period 2021-2031.

Impact of COVID-19 on Global Electrocardiographs Market

Due to the increased cardiac complications caused by the COVID-19 virus, the overall market for diagnostic electrocardiographs, particularly conventional electrocardiographs, has a positive impact during this phase; however, implantable loop recorders have a minor impact when compared to conventional cardiac monitors due to the high cost of the equipment. Due to the requisite infrastructure not being in place to deal with the overwhelming number of cases in most nations, the impact was greater, particularly in the first months of February and March.

The electrocardiographs (ECG) machine is one of the key instruments for measuring the extent of cardiac involvement in COVID-19 patients and the effect of medications in this scenario due to its wide accessibility, low cost, and ability to be studied remotely.

Key Highlights

  • According to the global electrocardiographs market report, the conventional devices segment is dominating the market in 2020 when compared to emerging devices segment under the segmentation - by product type. Emerging devices are forecasted to uphold this position in the market and dominate by the end of the forecast period 2021-2031.
  • In conventional devices segmentation, resting ECG machines are the market leader. During the forecast period 2021-2031, resting ECG is projected to lead the market. Stress ECG is projected to rise at a faster pace than resting ECG machines, with a CAGR of 6.1%.
  • In emerging devices segmentation, resting implantable loop recorders is the market leader. By the end of the forecast period 2021-2031, mobile cardiac telemetry is projected to lead the market. Mobile cardiac telemetry is projected to rise at a faster pace than implantable loop recorders, with a CAGR of 11.7%.
  • When the overall market contribution is considered, the conventional devices segment accounts for 57.6% of the total market.
  • The market holds the highest numbers in the North American region, followed by Asia-Pacific. The U.S. leads the table by contributing 33.2% of the total market in 2020. It is expected that by the end of the forecast period 2021-2031, the Asia-Pacific region will lead the market in the region-based segmentation.

Market Dynamics

Growth Drivers

  • Increasing Prevalence of Cardiovascular Diseases (CVDs) and other Heart-Related Diseases
  • Growing Demand for Point-of-Care Diagnostic Systems
  • Rising End-User Preference for Non-Invasive Diagnostic Technologies over Invasive Technologies

Challenges

  • Longer Turnaround Time (TAT)
  • Incomplete and False Diagnosis

Opportunities

  • Growing Market Preference for Multimodal Diagnostic Imaging Systems
  • Implementation of ECG in Hybrid Operating Rooms

Companies Mentioned

  • Abbott Laboratories
  • Biotricity, Inc.
  • BIOTRONIK SE & Co. KG
  • Boston Scientific Corporation
  • CardioComm Solutions, Inc.
  • Cardioline SpA
  • Fukuda Denshi Co., Ltd.
  • General Electric Company
  • Hill-Rom Holdings, Inc.
  • iRhythm Technologies, Inc.
  • Koninklijke Philips N.V.
  • Medtronic plc
  • Nihon Kohden Corporation
  • OSI Systems, Inc.
  • Zoll Medical Corporation (Asahi Kasei Corporation)

For more information about this report visit https://www.researchandmarkets.com/r/bh8fn9