PUBLISHER: Inkwood Research | PRODUCT CODE: 1294748
PUBLISHER: Inkwood Research | PRODUCT CODE: 1294748
The North America ECG equipment market growth is expected to progress at a CAGR of 4.72% during the forecast period, 2023 to 2032. The rising investment in research and development, the high incidence of heart diseases, the presence of well-established companies, such as CardioComm Solutions and AliveCor, along with their introduction of cutting-edge devices, and increased healthcare expenditure are set to fuel the region's market expansion.
The United States and Canada are analyzed for the North America ECG equipment market growth assessment. According to the data issued by the Canadian Chronic Disease Surveillance System (CCDSS), heart disease are the second leading cause of mortality in Canada, leading to more than 50,000 deaths annually. In addition, about 2.6 million Canadian adults aged 20 and over have been diagnosed with heart disease. There has also been a rise in heart failure cases, with 600,000 affected by cardiac diseases in the nation. In addition, several small companies with major businesses in the ECG equipment market, like Contex International, CardioComm Solutions, and AliveCor, are establishing their bases in Canada.
On the other hand, the reimbursement policies in Canada have been de-centralized with no national recommendatory process for medical technologies or devices. Therefore, the overall market growth is attributed to increasing healthcare expenditure, growing awareness regarding the early detection of diseases, and the presence of multinational players and emerging companies. As a result, these factors are set to collectively contribute to the growth of the North America ECG equipment market during the forecast period.
Some of the eminent companies operating in the market include: Hill-Rom Holdings Inc, CompuMed Inc, BioTelemetry Inc, etc.