Market Research Report
Global Diagnostic Electrocardiograph Market, By Product Type, By Channel, By End User, By Region, Competition Forecast & Opportunities, 2026
|Published by||TechSci Research||Product code||1008687|
|Published||Content info||115 Pages
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|Global Diagnostic Electrocardiograph Market, By Product Type, By Channel, By End User, By Region, Competition Forecast & Opportunities, 2026|
|Published: June 1, 2021||Content info: 115 Pages||
Global diagnostic electrocardiograph market was valued USD7.16 billion in 2020 and is anticipated to grow at an impressive rate of 7.10% in the forecast period, 2022-2026. This can be ascribed to the growing prevalence of cardiovascular diseases such as heart stroke, ischemic heart diseases, among others. Also, increasing prevalence of arrhythmias across the globe due to changes in heart's structure caused by cardiomyopathy, coronary artery disease, diabetes, sleep apnea and high blood pressure are expected to fuel the market growth. Additionally, increasing healthcare expenditure by different governments across the globe is further expected to fuel the market growth through 2026. Furthermore, technological advancements such as development of wireless monitoring and wearable ECG devices and new product launches by various players operating in the market is expected to create lucrative opportunities for growth in the next few years.
The global diagnostic electrocardiograph market is segmented based on product type, channel, end user, company and region. Based on product type, the market is categorized into resting ECG devices, stress ECG devices, holter monitors and others. The resting ECG devices is expected to dominate the market during the forecast period owing to the widespread demand and use of these devices not only for cardiovascular patients but also for patients suffering from various other disorders.
Regionally, Asia Pacific is expected to register the highest growth with CAGR of 8.51% in the global diagnostic electrocardiograph market during the forecast period on account of the growing geriatric population in the region. Additionally, increasing chronic disease burden especially cardiovascular diseases further supports the market growth. Also, highly populated countries such as India and China have a huge demand for these devices. Major companies are also focusing on these two countries for expansion and product launches owing to the demand created by them and also the availability of cheap labor and land at an affordable cost to setup their manufacturing units. Also, rising healthcare spending coupled with healthcare reforms for infrastructural developments are expected to foster the market growth in the region. Also, favorable regulatory policies in the region are expected to fuel the market growth in the forecast period.
Major players in global diagnostic electrocardiograph market include Hill-Rom Holdings, Inc., Nihon Kohden Corporation, Koninklijke Philips N.V., GE Healthcare and Medtronic Plc. Major companies operating in the market are following strategies such as mergers & acquisitions and new product launches to stay competitive in the market. For instance, In January 2021, Koninklijke Philips N.V. completed the acquisition of BioTelemetry, Inc. which is one of the leading US based provider of remote cardiac diagnostics and monitoring solutions. This acquisition will help Philips in strengthening its portfolio in patient care management solutions. For instance, in May 2018, GE Healthcare collaborated with Preventice Solutions (US) to extend GE's ECG services into home settings, providing monitoring for ambulatory ECG patients. Also, in March 2018, Philips Healthcare launched IntelliSpace Cardiovascular 3.1 informatics platform under its cardiovascular product segment.
Years considered for this report:
Historical Years: 2016-2019
Base Year: 2020
Estimated Year: 2021
Forecast Period: 2022-2026
Objective of the Study:
TechSci Research performed both primary as well as exhaustive secondary research for this study. Initially, TechSci Research sourced a list of manufacturers, suppliers, distributors across the globe. Subsequently, TechSci Research conducted primary research surveys with the identified companies. While interviewing, the respondents were also enquired about their competitors. Through this technique, TechSci Research could include the manufacturers which could not be identified due to the limitations of secondary research. TechSci Research analyzed the manufacturers, distribution channels and presence of all major players across the globe.
TechSci Research calculated the market size of global diagnostic electrocardiograph market using a bottom-up approach, wherein data for various end-user segments was recorded and forecast for the future years. TechSci Research sourced these values from the industry experts and company representatives and externally validated through analyzing historical data of these product types and channels for getting an appropriate, overall market size. Various secondary sources such as company websites, news articles, press releases, company annual reports, investor presentations and financial reports were also studied by TechSci Research.
Key Target Audience:
The study is useful in providing answers to several critical questions that are important for the industry stakeholders such as manufacturers, distributors, suppliers, partners, end-users, etc., besides allowing them in strategizing investments and capitalizing on market opportunities.
In this report, global diagnostic electrocardiograph market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
Resting ECG Devices
Stress ECG Devices
Hospitals & Clinics
Ambulatory Surgical Centers
Cardiac Care Centers
Middle East & Africa
Company Profiles: Detailed analysis of the major companies present in global diagnostic electrocardiograph market.
With the given market data, TechSci Research offers customizations according to a company's specific needs. The following customization options are available for the report: