General Electric Company, Philips, Schiller AG, Nihon Kohden Corporation, and BPL Medical Technologies Private Limited, among others, are the major players in the global ECG device market.
The global ECG device market reached a value of about USD 6.7 billion in 2020. The market is expected to grow at a CAGR of about 4% in the forecast period of 2021-2026 to reach USD 9 billion by 2026. As per the analysis by Expert Market Research, the market is expected to be driven by the increasing cases of cardiovascular diseases worldwide.
It is one of the most common health issues and the most significant cause of death worldwide. Because cardiac diseases have become so frequent in recent years, doctors advise having an ECG test to decrease the risk of heart disease in people subjected to the factors that cause heart disease. All of these factors are driving the ECG device market forward.
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North America is a significant market for ECG devices in terms of geography. Because of its high rate of new technology adoption, the United States is likely to be a significant market in North America. Within the forecast period, the ECG device industry in the Asia Pacific is expected to grow at the fastest rate. This can be attributed to the large population in the region suffering from cardiovascular diseases and emerging manufacturers producing ECG devices at affordable rates. The global prevalence of chronic diseases augments the market for ECG devices even more.
Headquarters: Boston, Massachusetts
General Electric Company is a multinational conglomerate. The company operates through the following divisions: healthcare, aviation, power, digital industry, renewable energy, additive manufacturing, and venture capital, and finance. GE is also ranked among the Fortune 500. The company specialises in oil and gas, transportation, digital lighting, power, and energy management, among others.
Headquarters: Amsterdam, Netherlands
Philips is a Dutch multinational conglomerate corporation. Philips, previously one of the largest electronics companies globally, currently focuses on health technology, with other divisions being divested. The company is a leader in patient monitoring, diagnostic imaging, image-guided therapy, health informatics, in-home care, and consumer health. The company specialises in healthcare, medical devices, cardiology, health-tech, oncology, and connected care, among others.
Headquarters: Baar, Switzerland
Schiller AG has a global sales network with around 1000 employees worldwide. Schiller is a leading manufacturer and supplier of devices for defibrillation, cardiopulmonary diagnostics, patient monitoring, and software solutions for the medical industry. The company's product portfolio includes devices such as blood pressure monitors and spirometers. The company specialises in medical IT and monitoring cardiac patients, among others.
Headquarters: Tokyo, Japan
Nihon Kohden Corporation is a leading manufacturer, developer, and distributor of electronic medical equipment, including EMG measuring systems, EEGs, ECGs, patient monitors, and clinical information systems, with subsidiaries in the United States, Asia, and Europe. The company's products are used in more than 120 countries, and it is the largest supplier of EEGs worldwide. The company also developed the world's first pulse oximeter.
Headquarters: Bangalore, Karnataka
BPL Medical Technologies Private Limited is one of the country's largest and most accessible medical equipment companies. The company's high standards of product performance have made it the leading choice for clinics, hospitals, and practicing physicians across the country. The company's range of products includes patient monitors, electrocardiographs, defibrillators, anaesthesia workstations, oxygen concentrators, stress test systems, colour dopplers, X-rays, foetal monitors, foetal dopplers, and home healthcare equipment, among others.
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