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Global ECG Device Market Expected to Reach USD 9 Billion by 2026, Driven by the Rising Awareness Regarding Cardiovascular Diseases

According to a new report by EMR titled, 'Global ECG Device Market Report and Forecast 2021-2026', the global market for ECG device reached a value of USD 6.7 billion in 2020. The market is further expected to grow at a CAGR of 4% in the forecast period of 2021-2026 to reach USD 9 billion by 2026.

The market for ECG device is being driven by the rising awareness regarding cardiovascular diseases. This is further leading to the importance of patient monitoring devices like ECG device as they are easy to operate and show quick results. The market is further expected to be aided by the advancements in ECG devices and the rise in the global disease burden over the forecast period. Further, the market is enhancing as a result of established market players, in conjunction with OEMs and small players that are expanding their markets in the emerging economies to enhance their market share. In addition, the market is further fuelled by the high competitiveness among the market players. All these factors are expected to aid the market growth over the forecast period as well.

Koninklijke Philips N.V. (NYSE: PHG), a global leader in health technology, announced in July 2021 the launch of pre-hospital wireless monitoring solution for emergency medical response in the United States. The software platform offers rapid, real-time transfer of clinical data and events, two-way communication, interactive ECG measurement, and more, facilitating transport decisions and rapid clinical support. Such innovations are expected to aid the market growth over the forecast period.

Market Analysis by Products, Technology, Lead Type, End Uses, and Region:

  • The ECG device industry, on the basis of products, is divided into resting device, holter monitoring system, stress testing system, event monitors, and smart ECG Monitors, among others.
  • Based on technology, the industry is bifurcated into portable and wireless.
  • By lead type, the industry is segmented into single lead, 3-lead, 5-lead, 6-lead, and 12-lead, among others.
  • Based on end uses, the industry is categorised into hospital, diagnostic centres, clinics, and ambulatory surgical centres, among others.
  • Regionally, the market is divided into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Key Findings of the Report:

  • The global market for ECG device is driven by the increasing cases of cardiovascular diseases, globally.
  • The market is further accelerated by the changing lifestyle and eating habits, which influence the market growth significantly.
  • Since, the cardiovascular diseases are so common nowadays, doctors recommend ECG test to the patients subjected to factors causing heart disease, so as to prevent the disease. Thereby, enhancing the market growth of ECG device. 

Key Offerings of the Report:

  • The EMR report gives an overview of the global market for ECG device for the periods (2016-2020) and (2021-2026).
  • The report also offers the historical (2016-2020) and forecast (2021-2026) markets for the products, technology, lead type, end uses, and major regions of ECG device. 
  • The report analyses the market dynamics, covering the key demand and price indicators in the market, along with providing an assessment of the SWOT and Porter’s Five Forces models.

General Electric Company, Koninklijke Philips N.V., Schiller AG, Fukuda Denshi Co., Ltd., Nihon Kohden Corporation, EDAN Instruments, Inc., and BPL Medical Technologies Private Limited, among others, are the key players in the global ECG device market. The EMR report looks into the capacity, market share, and latest developments of these major players like plant turnarounds, mergers and acquisitions, and capacity expansions.

About Us:

Expert Market Research (EMR) is a leading market research and business intelligence company, ensuring its clients remain at the vanguard of their industries by providing them with exhaustive and actionable market data through its syndicated and custom market reports, covering over 15 major industry domains. The company's expansive and ever-growing database of reports, which are constantly updated, includes reports from industry verticals like chemicals and materials, food and beverages, energy and mining, technology and media, consumer goods, pharmaceuticals, agriculture, and packaging.

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*We at Expert Market Research always thrive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.

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