1. health and fitness

Global ECG Devices Market, 2016-2024
Persistence Market Research
Global ECG Devices Market to reach at a
CAGR of 4.1% between 2016 and 2024:
Persistence Market Research
Persistence Market Research
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Global ECG Devices Market, 2016-2024
ECG devices are experiencing a paradigm technological shift from resting ECG systems to
portable Holter monitoring systems, owing to their advantages of patient mobility, low prices
and longer duration of patient monitoring. ECG devices are proving to be more efficient in
ECG monitoring due to advancement in technology, allowing healthcare providers to monitor
recorded data remotely and data management facilities for better analysis of data. These
factors are expected to fuel the growth of global ECG devices market to grow at a CAGR of
4.1% between 2016 and 2024, according to a new report by Persistence Market Research
(PMR). The report, titled, “ECG Device Market: Global Industry Analysis and Forecast, 20162024”.
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PMR’s report offers market forecast and analysis on global ECG device market, segmenting
the market on the basis of product, end-user, and region. The report segments the global
ECG device market into five key regions, North America, Latin America, Europe, Middle East
and Africa (MEA) and Asia Pacific (APAC). According to the PMR’s regional analysis, North
America (U.S. and Canada) is the most lucrative market for ECG devices globally. This region
holds highest market share over the forecast period (2016-2024) and is expected to exhibit
slow growth rate. The Asia Pacific is expected to be the fastest-growing region for ECG
devices owing to its increasing incidence rate of cardiovascular diseases and high
population. APAC is estimated to hold nearly 27.3 % revenue share by the end of 2016 in the
ECG device market. MEA region is also expected to grow significantly over the forecast
period owing to its high public healthcare expenditure and government funding. This region
is expected to grow at CAGR of 4.5% over the forecast period.
On the basis of product, PMR has segment the ECG device market into ECG resting system,
ECG Holter monitoring system, ECG stress testing system and cardiopulmonary stress
testing system segments. ECG Holter monitoring system segment is expected to dominate
the market through the forecast period and is anticipated to be the most lucrative segment.
Due to the high adoption rate of ECG Holter monitoring devices globally this segment is
expected to witness high incremental opportunity.
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Global ECG Devices Market, 2016-2024
On the basis of the end user, the ECG device market has been segmented into hospitals,
diagnostic centers, clinics and ambulatory surgical centers (ASCs). PMR estimates that
hospitals segment accounts for highest revenue share in the end user segment of ECG
device market and is expected to witness the fastest growth over the forecast period.
Factors like increasing number of private hospitals in emerging countries and government
funding for better infrastructure is expected to boost revenue share from hospitals segment
for ECG device market. Diagnostic centers segment is also expected to gain significant
growth during the forecast period due to better diagnostic facilities and ease of access.
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The report discusses several factors affecting the ECG device market like increment in
healthcare expenditure, key strategies of the participant companies, reimbursement
policies, and regulations.
Some key market participants included in the PMR’s ECG device market include GE
Healthcare, Koninklijke Philips N.V, Welch Allyn (Hill-rom company, Inc.), Schiller AG, Fukuda
Denshi Co. Ltd., Nihon Kohden Corporation, Mortara Instrument, Inc., Spacelabs Healthcare,
Inc.
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Market Bytes:
ECG (Electrocardiogram) Device is a device which records the heart activities through
electric signals and are amplified on the ECG monitor. ECG devices are used to diagnose
types of heart diseases and arrhythmias in a person’s body therefore assist the appropriate
therapy. The ECG test is noninvasive and painless procedure and determines abnormality
patterns in heart. There are four different types of ECG device which determine heart
activities of body under certain condition or activities.
Chronic diseases have become a major cause of diseases globally which is causing a lot of
pressure on healthcare industry to adopt new paradigm of medical care and better
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Global ECG Devices Market, 2016-2024
healthcare facilities boosting the demand for new technologies. Cardiovascular disease is
one of the most common of all health problems and leading cause of deaths globally. To
avoid the risk associated with heart disease, ECG tests are conducted by people who are
likely exposed to the factors causing heart disease. Due to increased awareness about CVD,
patient monitoring devices are gaining importance over years due to ease of operation and
quick results. Development in ECG devices and increase in global disease burden will drive
the market growth for ECG devices over the forecast period. ECG device market has
established market players along with OEMs and small players which are expanding their
markets to cover larger market share into the emerging economies. Due to high
competitiveness in the market players, ECG device market is fueled by bringing innovation.
By product type, ECG device market is segmented into ECG resting system, ECG holter
monitoring system, ECG stress testing system and cardiopulmonary stress testing. ECG
resting system segment is estimated to account for highest revenue share in 2015 and ECG
holter monitoring system is expected to grow over the forecast period. ECG resting system is
expected to witness sluggish growth over the forecast period due to technological
advancements in ECG holter monitoring system.
On the basis of end user, the ECG device market is segmented into hospitals, diagnostic
centers, clinics and ambulatory surgical centers. Hospitals segment is expected to create
robust growth opportunities owing to better infrastructural facilities and large patient
database.
By region, the global ECG device market is segmented into North America, Latin America,
Europe, Asia Pacific, and Middle East & Africa The high adoption rate of new technology is
expected to boost the market in the U.S. for ECG holter monitoring devices. The U.S. is
expected to remain dominant market for ECG devices whereas APAC region is expected to
witness highest growth due to large number of population suffering from cardiovascular
diseases and increase in budding manufacturers providing ECG device at competitive prices.
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Global ECG Devices Market, 2016-2024
About Us:
Persistence Market Research (PMR) is a full-service market intelligence firm specializing in syndicated
research, custom research, and consulting services. PMR boasts market research expertise across the
Healthcare, Chemicals and Materials, Technology and Media, Energy and Mining, Food and Beverages,
Semiconductor and Electronics, Consumer Goods, and Shipping and Transportation industries. The
company draws from its multi-disciplinary capabilities and high-pedigree team of analysts to share data
that precisely corresponds to clients’ business needs.
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