The global ECG market is expected to witness growth of 6.0% during the forecast period due to the increased incidences of cardiac diseases owing to the changing lifestyles, increasing aging population which in turn has high risks of cardiac diseases and increasing technological advancements. Various benefits of these machines include safe and painless procedure, defibrillation protection, simultaneous lead recordings, electrostatic discharge, automated interpretation algorithms, and many others. Whereas, high device costs and maintenance costs are the factors challenging market growth.
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Based on the product type, the Holter monitors are expected to grow at a significant rate in the market during the forecast period. This is attributed to the ease of use of Holter monitors. In addition, it allows better transfer of data and information, via Electronic Health Records (EHR) and Cardiovascular Information Systems (CVIS) that makes the extraction of information easier and reduces the complexity concerning with the system. Whereas, based on the end-user of the global ECG market, the hospital & clinics segment holds the considerable share as most of the patients depend more on the hospitals as compared to other healthcare facilities owing to the availability of well-equipped devices and developed monitoring software.
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The global ECG market has several market players operating in the market and providing products and services globally. Some of the prominent players functioning in the global ECG industry include GE Healthcare, Phillips Healthcare, Schiller AG, Johnson & Johnson, Allengers Medical Systems Ltd., AliveCor Inc., Cardiac Science Corp., Cardioline S.P.A, and Nihon Kohden Corp. These players are significantly contributing to the market by providing various products and services to the end-users. Phillips NV offers various cardiograms for the ECG, IntelliSpace ECG for the ECG management systems to provides fast, easy access to ECGs.
Some of the strategies that are majorly being adopted include new products and services offering, expansion, mergers & acquisitions among others. For instance, in August 2017, HeartScience launched a novel ECG system, MyoVista ECG, that combines informatics with traditional 12-lead resting ECG tracings has ECG interpretive analysis. Further, in 2017, Bittium launched a novel software that analyse hart activities based on long-term ECG and Holter measurements, that aids in an in-depth analysis of long-term track records and detection of cardiac arrhythmias.
Current Market Trends Covered in the Market Report:
- Shifting of consumer preferences from traditional methods to advanced, developed alternatives.
- Portable ECG machine segment will account for significant growth in the market.
- The new technological innovations will be the key strategy of the players.
Global ECG Market – Segmentation
Global ECG Market by Product type
- Rest ECG Systems
- Stress ECG Systems
- Holter Monitors
Global ECG Market by Technology
- Portable ECG Machines
- Wireless ECG Machines
Global ECG Market by Lead Type
- Single Lead ECG
- 3-6 Lead ECG
- 12 Lead ECG
Global ECG Market by End-User
- Hospital & Clinics
- Ambulatory Facilities
- Others
Global ECG Market – Segment by Region
North America
- US
- Canada
Europe
- Germany
- UK
- France
- Spain
- Italy
- Rest of Europe
Asia-Pacific
- China
- Japan
- India
- Rest of Asia-Pacific
Rest of the World
- Middle East & Africa
- Latin America
Company Profiles
- Allengers Medical Systems Ltd.
- AliveCor Inc.
- Bionet, Co. Ltd.
- BioTelemetry Inc.
- Cardiac Science Corp.
- Cardioline S.P.A
- CardioNet, Inc.
- Custo Med GmbH
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