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Abstract, Snapshot, Market Analysis & Market Definition: Global ECG Equipment & Management System MarketThe global ECG Equipment & Management System market size is projected to reach US$ 8.16 billion by 2026, from US$ 5.75 billion in 2020, at a CAGR of 6% during 2021-2026. Global rise in geriatric population coupled with prevalence of cardiac problems, such as heart arrhythmia, ischemic heart disease, heart attack, and heart rhythm disorders is anticipated to drive the growth. Furthermore, favorable regulatory policies, technological advancements in the field, and increasing investment by key players for early detection of cardiovascular diseases are likely to drive the market. For instance, in 2014, GE Healthcare introduced newer version of Muse ECG management system that allows interoperability with non-GE ECG systems. This new version improved asset management and care collaboration. According to the American Heart Association (AHA), cardiovascular disease is a leading cause of death taking a toll of 17.3 million deaths per year. This number is expected to grow to more than 23.6 million by 2030. Rising awareness regarding early diagnosis is expected to propel the demand for these devices over the forecast period. Technological advancements, government initiatives, geographical expansions, and commercialization of new products, are likely to boost the market in the forthcoming years. For instance, the National Health Service (NHS) England took initiative to provide national reimbursement to the people across England using AliveCor device for treating conditions such as heart disease and diabetes.
Market Segmentation, Outlook & Viewpoint: Global ECG Equipment & Management System Market
Type Market Segmentation & Outlook (Revenue, USD Million, 2014 - 2025)
- Holter Monitors
- Resting ECG System
- Stress ECG Monitors
- Event Monitoring Systems
- ECG Management Systems
End Use Market Segmentation & Outlook (Revenue, USD Million, 2014 - 2025)
- Hospitals & Clinics
- Ambulatory Facilities
Key Players, Recent Developments & Regional Insights: Global ECG Equipment & Management System MarketHospitals and clinics, ambulatory facilities, and others are the key end use segments of the market. In 2018, hospitals accounted for the largest market share as majority of patients rely more on hospitals than other healthcare facilities due to the availability of well-equipped devices and latest monitoring software. Hospitals provide optimal care for patients suffering from Cardiovascular Diseases and enable early detection and diagnosis, thus witnessing impressive growth. According to American Heart Association, 209,000 patients suffered from in-hospital cardiac arrest in the U.S in 2016 and this number is expected to rise to more than 23.6 million by 2030.
Regional InsightsNorth America led with around 38.0% of the total market share in 2017, attributed to high adoption of new technology, availability of several commercialized products, and local presence of major players. Asia Pacific is expected to be the fastest growing region during the forecast period from 2019 to 2025, owing to commercialization of equipment in Japan and China, growing demand from other emerging countries such as India, and increasing healthcare expenditure. In 2016, Bioclinica entered into a strategic partnership with SUZUKEN CO., LTD. to supply ECG monitoring equipment in Japan. Bioclinica also made investments in Japan and China and established local scientific and medical expertise to develop cardiac safety solutions and imaging core lab services for clinical trials. Germany, U.K., and France are vital markets in Europe. Germany led in the past, attributed to introduction of advanced products and funding from investors. Rising healthcare infrastructure, presence of local and major players, and increasing healthcare expenditure are the key factors driving the regional market.
ECG Equipment and Management Systems Market Share InsightsEntry of various players in the market is expected to increase the competition. Some of the major players include Compumed Inc.; BioTelemetry, Inc.; GE Healthcare; Mindray Medical; Hill Rom; Philips Healthcare; Schiller AG; Spacelabs Healthcare; NIHON KOHDEN CORPORATION; and Welch Allyn. To remain competitive, the companies engage in development of innovative products along with geographical expansion specifically in the developing economies. For instance, in 2017, Personal MedSystems raised USD 5.36 million for innovations in the companys technology and sales growth of CardioSecur, a smartphone-connected ECG device. In 2015, AliveCor, Inc. introduced the third-generation AliveCor Heart Monitor in U.K. and Ireland which records, stores, transfers, and displays single-channel ECG rhythms and helps detect atrial fibrillation and normal sinus rhythm.
Key Insights Covered: Global ECG Equipment & Management System Market1. North America, Europe, Asia Pacific, Middle East & Africa, Latin America market size (sales, revenue and growth rate) of ECG Equipment & Management System industry. 2. Global major manufacturers operating situation (sales, revenue, growth rate and gross margin) of ECG Equipment & Management System industry. 3. Global major countries (United States, Canada, Germany, France, UK, Italy, Russia, Spain, China, Japan, Korea, India, Australia, New Zealand, Southeast Asia, Middle East, Africa, Mexico, Brazil, C. America, Chile, Peru, Colombia) market size (sales, revenue and growth rate) of ECG Equipment & Management System industry. 4. SWOT analysis, New Project Investment Feasibility Analysis, Upstream raw materials and manufacturing equipment & Industry chain analysis of ECG Equipment & Management System industry. 5. Global market size (sales, revenue) forecast by regions and countries from 2019 to 2024 of ECG Equipment & Management System industry.
Research Methodology: Global ECG Equipment & Management System Market
- Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analyzed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please Request a Sample Report.
- Demand Side Primary Contributors: OEMs, Industrial Professionals, Researches, Suppliers and Distributors, Group Purchasing Organizations, Associations, Insurers, Universities, Technological Writers, Scientists, Promoters, Investors among others.
- Supply Side Primary Contributors: Product Managers, Marketing Managers, C-Level Executives, Distributors, Market Intelligence, Regulatory Affairs Managers among other
Table of Content Chapter 1 Research Methodology 1.1 Information Procurement 1.2 Data AnalysisChapter 2 Executive Summary 2.1 Market SnapshotChapter 3 Global Market Variables, Trends & Scope 3.1 Market Segmentation & Scope 3.2 Market Driver Analysis 3.2.1 Rising geriatric population 3.2.2 Technological advancements to favor continuous monitoring 3.3 Market Restraint Analysis 3.3.1 Lack of reimbursement policies 3.3.2 False-negative and false-positive results 3.4 Penetration & Growth Prospect Mapping 3.5 ECG Equipment and Management System - SWOT Analysis, by Factor (Political & | read more...