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Market Research Report
Product code
1077990
Global ECG Market 2022-2028 |
Global ECG Market 2022-2028 |
Published: April 12, 2022
Orion Market Research Pvt Ltd
Content info: 125 Pages
Delivery time: 2-3 business days
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Global Electrocardiograph (ECG) Market Size, Share & Trends Analysis Report by Product Type (Rest ECG Systems, Stress ECG Systems, and Holter Monitors), by Technology (Portable ECG Machines and Wireless ECG Machines), by Lead Type (Single Lead ECG, 3-6 Lead ECG, and 12 Lead ECG), and by End-User (Hospitals & Clinics, Ambulatory Facilities, and Others)Forecast (2022-2028)
The globalelectrocardiograph (ECG)market is anticipated to grow at a substantial CAGRof 5.7% during the forecast period. The growth of theECGmarket during the forecast period is attributeddue to the increasing geriatric population across the globe. According to the Department of Economic and Social Affairs, there were 703 million people aged 65 years or over globally in 2019, which is anticipated to double to 1.5 billion in 2050. Additionally, the risk of diabetes and cardiovascular diseases increases with ageresulting in a higher incidence of these diseases in adults aged 60 years and above which in turn is further boosting the growth of the market during the forecast period.
The global ECG market is segmented based on product type, technology, lead type, and end-user. Based on the product type, the market is segmented into rest ECG systems, stress ECG systems, and holtermonitors. Based on the technology, the market is bifurcated into portable ECG machines and wireless ECG machines. Further, based on lead type, the market is segmented into single-lead ECG, 3-6 lead ECG, and 12 lead ECG.Based on the end-user, the market is segmented into hospitals & clinics, ambulatory facilities, and others. Among these, the hospitals & clinics segment is anticipated to grow during the forecast period due to the increasing number of patients in the hospitals across the globe.
Geographically, the global ECG market is segmented into North America, Europe, Asia Pacific, and the Rest of the World. North Americaholds a prominent share in the market due to theincreased incidences of cardiac diseases owing to the increasing aging population coupled with theincreasedusage of remote monitoring devices. Followed by theAsia-Pacific, the region is anticipated to hold the considerable market share,due to the growing technological advancements and rapid growth in the economy in the region.
The major companies serving the global ECGmarket includeGeneral Electric Co., Johnson and Johnson Services, Inc., Koninklijke Philips NV, Mindray Medical International Ltd., Schiller AG, and Nihon Kohden Corp., among others. The market players are considerably contributing to the market growth by the adoption of various strategies including mergers andacquisitions, partnerships, geographical expansionand collaborations to stay competitive in the market. For instance, in 2020, CompuMed extended its partnership with AliveCor and GE Healthcare to expand its product offerings in mobile electrocardiogram (ECG) and ultrasound solutions. The products include AliveCor Heart Monitor, CompuMed powered GE MAC 800, and a pocket-sized visualization tool.
Research Methodology
The market study of the globalECG marketis incorporated by extensive primary and secondary research conducted by the research team at OMR. Secondary research has been conducted to refine the available data to breakdown the market into various segments, derive total market size, market forecast, and growth rate. Different approaches have been worked on to derive the market value and market growth rate. Our team collects facts and data related to the market from different geography to provide a better regional outlook. In the report, the country-level analysis is provided by analyzing various regional players, regional tax laws and policies, consumer behavior, and macro-economic factors. Numbers extracted from secondary research have been authenticated by conducting proper primary research. It includes tracking down key people from the industry and interviewing them to validate the data. This enables our analyst to derive the closest possible figures without any major deviations in the actual number. Our analysts try to contact as many executives, managers, key opinion leaders, and industry experts. Primary research brings authenticity to our reports.
Secondary Sources Include
The report provides an in-depth analysis of market size, intended quality of the service preferred by consumers. The report will serve as a source for a 360-degree analysis of the market thoroughly integrating different models.
Market Segmentation
The Report Covers
Category- Medical Devices