PUBLISHER: The Business Research Company | PRODUCT CODE: 1427909
PUBLISHER: The Business Research Company | PRODUCT CODE: 1427909
Mobile ECG (electrocardiogram) devices are portable monitoring tools designed for capturing and assessing the electrical activity of the heart outside of clinical environments. These devices are characterized by their portability, lightweight design, and user-friendly features, making them well-suited for obtaining ECG readings either at home or while on the move. They serve as a comprehensive diagnostic approach for detecting arrhythmias, facilitating at-home heart monitoring, and providing complete disclosure of ECG signals, along with thorough data analysis and reporting.
Two main categories of mobile ECG devices exist, monitoring ECG systems and diagnostic ECG systems. Monitoring ECG systems are designed for rapid testing to assess the electrical activity and rhythm of the heart. These systems encompass various modalities, such as handheld, pen, band, and others, catering to a diverse range of end users. These end users include personal users, hospitals, clinics, and ambulatory services, highlighting the versatility and broad applicability of mobile ECG devices in different healthcare settings.
The mobile ECG devices market research report is one of a series of new reports from The Business Research Company that provides mobile ECG devices market statistics, including mobile ECG devices industry global market size, regional shares, competitors with a mobile ECG devices market share, detailed mobile ECG devices market segments, market trends and opportunities, and any further data you may need to thrive in the mobile ECG devices industry. This mobile ECG devices market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The mobile ecg devices market size has grown strongly in recent years. It will grow from $110.94 billion in 2023 to $118.48 billion in 2024 at a compound annual growth rate (CAGR) of 6.8%. The expansion observed in the historical period can be credited to several factors, including the integration of smartphones, advancements in clinical validation and research, increased adoption of telemedicine, ongoing trends in technology miniaturization and connectivity, as well as a growing awareness of health consciousness.
The mobile ecg devices market size is expected to see strong growth in the next few years. It will grow to $154.14 billion in 2028 at a compound annual growth rate (CAGR) of 6.8%. The anticipated growth in the forecast period can be ascribed to a rising burden of cardiovascular diseases, demographic shifts towards an aging population, the expanding reach of telehealth services, heightened consumer awareness of health, and ongoing digital health initiatives. Notable trends expected in the forecast period encompass the development of personalized healthcare solutions, advancements in regulatory frameworks, increased market penetration in emerging economies, a focus on user-friendly design, and an expansion of home healthcare services.
The anticipated growth in the mobile ECG devices market is expected to be propelled by the increasing incidence of heart-related conditions. These conditions encompass a spectrum of disorders affecting the heart and blood vessels, including coronary heart disease and congenital heart disease. Mobile ECG devices play a crucial role in diagnosing myocardial infarction and cardiac arrhythmias, enabling more effective and manageable monitoring of heart disorders to mitigate untreated and unmonitored cases. Illustratively, data from the British Heart Foundation in January 2023 reported a rise in stroke deaths from 34,420 in 2019 to 34,518 in 2020, underscoring the need for enhanced diagnostic and monitoring tools in addressing the growing prevalence of heart-related conditions.
The increasing proportion of the geriatric population is anticipated to contribute to the growth of the mobile ECG device market. The geriatric demographic, comprising individuals aged 65 and older, commonly experiences age-related changes in their cardiovascular system, necessitating regular heart health monitoring. Electrocardiogram (ECG) devices are frequently utilized for this purpose. Notably, data from the World Trade Organization in October 2022 revealed a significant rise in the global population aged 60 and above, from 1 billion to 1.4 billion from 2020 to 2021. Projections indicate that by 2050, the population of adults aged 60 and above will double to 2.1 billion, with a threefold increase in the number of individuals aged 80 or more, reaching 426 million. This demographic shift underscores the increasing demand for mobile ECG devices to cater to the healthcare needs of the growing geriatric population.
Technological advancements emerge as a key trend gaining prominence in the mobile ECG devices market, with major industry players actively embracing new technologies to maintain their competitive positions. An exemplar is AliveCor Inc., a US-based medical device and AI company, which, in February 2022, introduced the KardiaMobile Card. This pioneering personal ECG device, thin enough to fit in a wallet, utilizes Bluetooth technology to connect with smartphones and swiftly identify six prevalent arrhythmias. Users benefit from monthly heart health summaries, automatic ECG record sharing, and cardiologist ECG analysis. The KardiaMobile Card, based on AliveCor's AI-enabled Kardia technology, has demonstrated its portability and durability, allowing users to record an ECG anytime, anywhere, and is resilient to weather, water, and regular wear and tear.
Major companies in the mobile ECG device market are strategically leveraging partnerships for the development of ECG technology measuring the heart's electrical activity. One such example is the agreement between Bittium, a Finland-based subsidiary of Bittium Corporation, and British ECG service provider Technomed Limited in September 2021. This collaboration involves the purchase of a 25 percent stake in Technomed's capital stock by Bittium, reinforcing their partnership in ECG technology development and expanding Bittium's technology cooperation with European companies providing remote cardiology services.
In November 2021, Royal Philips, a Netherlands-based health technology company, made a strategic acquisition of Cardiologs for an undisclosed amount. This move is anticipated to enhance Philips' cardiac diagnostics and monitoring portfolio. The acquisition of Cardiologs, a France-based medical technology company specializing in AI and cloud technology for cardiac diagnostics, including mobile ECG devices, will augment Philips' capabilities in ECG analysis, reporting services, and innovative software technology.
Major companies operating in the mobile ecg devices market report are Medtronic PLC, Koninklijke Philips N.V., GE Healthcare, Omron Corporation, Mindray Medical International Limited, ZOLL Medical Corporation, Hill-Rom Holdings Inc., Nihon Kohden Corporation, Spacelabs Healthcare, Biotronik SE & Co KG, Fukuda Denshi Co. Ltd., Welch Allyn Inc., Bittium Biosignals Ltd., Contec Medical Systems Co. Ltd., Midmark Corporation, Schiller AG, Preventice Solutions Inc., BPL Medical Technologies Pvt. Ltd., AliveCor Inc., EB Neuro S.p.A, Mednet Healthcare Technologies Inc., GETEMED Medical and Information, QT Medical Inc., Qardio Inc., Innomed Medical Inc., MD Biomedical Inc., CardioComm Solutions Inc., Hexoskin, VectraCor Inc., Cardiocity Limited.
North America was the largest region in the mobile ECG devices market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the mobile ecg devices market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the mobile ecg devices market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The mobile ECG device market consists of sales of wearable ECG devices, smartphone-connected ECG devices, and patch-based ECG devices. Values in this market are 'factory gate' values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Mobile ECG Devices Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on mobile ecg devices market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for mobile ecg devices ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The mobile ecg devices market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
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