Market Research Report
Global Ecg Equipment Market Forecast 2021-2028
|Global Ecg Equipment Market Forecast 2021-2028|
Published: September 6, 2021
Content info: 210 Pages
Delivery time: 2-3 business days
The global ECG equipment market is projected to register a CAGR of 5.57% during the forecast period, 2021-2028. The favorable regulations, increasing healthcare expenditure, growing usage of monitoring devices, and rising cardiovascular disease drive market growth.
ECG is used to measure the electrical activities of the heart. The electrical impulses generated by the heart are recorded with the aid of electrodes and then translated into a waveform. Given the shifting lifestyles, there has been an increase in cardiovascular diseases worldwide. This is also the critical factor contributing to increasing death rates due to cardiac arrest and other heart-related problems, as per the WHO. Also, heart diseases are the leading cause of death in the United States, as per the Center for Disease Control and Prevention 2020 data. In addition, around 647,000 Americans die due to heart diseases every year.
Further, WHO predicts that 23.3 million people will be affected by CVD and CHD by 2030. Also, stats suggest that CVD causes 1.8 million deaths in the European Union (EU) and 3.9 million deaths in Europe. Additionally, CVD is evaluated to be the prominent cause of all fatalities. As a result, the prevailing heart diseases have increased the ECG equipment demands. Such factors propel the global ECG equipment market growth. However, product recalls, competitive rivalry, and stringent reimbursement policies hinder the market growth.
The global ECG equipment market growth assessment includes the geographical analysis of Asia-Pacific, Europe, North America, and Rest of World. North America is the dominating region in the global market with the largest revenue share. This is attributed to the elderly population, increasing lifestyle-related diseases, and technological advancements.
Many private companies are working in the emerging and developed markets, particularly on the three-lead and single lead wireless ECG devices. Biotelemetry Inc, Bionet Co Ltd, Hill Rom Holdings Inc, Compumed Inc, GE Healthcare, etc., are among the key companies in the market.