The global electrocardiograph (ECG) market size reached US$ 9.8 Billion in 2023. Looking forward, the market is projected to reach US$ 14.8 Billion by 2032, exhibiting a growth rate (CAGR) of 4.69% during 2023-2032.
An electrocardiograph (ECG) records the electrical activity of the heart by measuring its surface potentials. With this painless, noninvasive procedure, it is possible to diagnose heart problems like arrhythmias and coronary artery disease, and the effectiveness of certain heart disease treatments. By conducting surface potentials from metal contacts called electrodes to an instrument, the electrical activity of the heart can be measured on the surface of the skin.
A machine that measures ECGs is connected to these electrodes through cables that are placed on the chest, lower arms, and calves. ECG graphs are generated by the machine through the conversion of signals, whereas in some cases, they can also be printed. The use of ECG monitoring devices, such as resting ECGs, stress ECGs, and Holter monitors, can provide information about abnormal heart function.
Apart from this, the advent of portable ECG systems and remote monitoring devices with a single lead is impacting the market positively. The market is further propelled by the extensive research and development (R&D) activities conducted by key players to improve healthcare infrastructure. Some of the other factors contributing to the market growth include the rising trend of medical device miniaturization and the increasing medical expenditure.
2. What is the expected growth rate of the global Electrocardiograph (ECG) market during 2024-2032?
3. What are the key factors driving the global Electrocardiograph (ECG) market?
4. What has been the impact of COVID-19 on the global Electrocardiograph (ECG) market?
5. What is the breakup of the global Electrocardiograph (ECG) market based on the product?
6. What is the breakup of the global Electrocardiograph (ECG) market based on the lead type?
7. What is the breakup of the global Electrocardiograph (ECG) market based on the end user?
8. What are the key regions in the global Electrocardiograph (ECG) market?
9. Who are the key players/companies in the global Electrocardiograph (ECG) market?
An electrocardiograph (ECG) records the electrical activity of the heart by measuring its surface potentials. With this painless, noninvasive procedure, it is possible to diagnose heart problems like arrhythmias and coronary artery disease, and the effectiveness of certain heart disease treatments. By conducting surface potentials from metal contacts called electrodes to an instrument, the electrical activity of the heart can be measured on the surface of the skin.
A machine that measures ECGs is connected to these electrodes through cables that are placed on the chest, lower arms, and calves. ECG graphs are generated by the machine through the conversion of signals, whereas in some cases, they can also be printed. The use of ECG monitoring devices, such as resting ECGs, stress ECGs, and Holter monitors, can provide information about abnormal heart function.
Electrocardiograph (ECG) Market Trends
The global market is majorly driven by the rising prevalence of cardiovascular diseases, such as ischemic heart disease (IHD), hypertensive heart disease, stroke, and peripheral artery diseases, among the masses. This can be attributed to the growing geriatric population that is susceptible to developing these diseases. In line with this, continual technological advancements in ECG devices, such as innovative designs and additional features, are providing an impetus to the market. Moreover, favorable government initiatives, along with supportive reimbursement policies, are creating a positive outlook for the market.Apart from this, the advent of portable ECG systems and remote monitoring devices with a single lead is impacting the market positively. The market is further propelled by the extensive research and development (R&D) activities conducted by key players to improve healthcare infrastructure. Some of the other factors contributing to the market growth include the rising trend of medical device miniaturization and the increasing medical expenditure.
Key Market Segmentation
This report provides an analysis of the key trends in each sub-segment of the global electrocardiograph (ECG) market report, along with forecasts at the global, regional and country level from 2024-2032. The report has categorized the market based on product, lead type and end user.Breakup by Product:
- Resting Electrocardiograph (ECG)
- Stress Electrocardiograph (ECG)
- Holter Monitors
- Others
Breakup by Lead Type:
- Single Lead ECG
- 2 Lead ECG
- 3 Lead ECG
- 6 Lead ECG
- 12 Lead ECG
Breakup by End User:
- Hospitals and Clinics
- Home Settings and Ambulatory Surgical Centers (ASCs)
- Others
Breakup by Region:
- North America
- United States
- Canada
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Others
- Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Russia
- Others
- Latin America
- Brazil
- Mexico
- Others
- Middle East and Africa
Competitive Landscape
The competitive landscape of the industry has also been examined along with the profiles of the key players being AliveCor Inc., Allengers Medical Systems Limited, BPL Medical Technologies, CompuMed Inc., Fukuda Denshi Co. Ltd., General Electric Company, Hill-Rom Holdings Inc. (Baxter International Inc.), Innomed Medical Inc., Koninklijke Philips N.V., Midmark Corporation, Nihon Kohden Corporation, OSI Systems Inc., Schiller AG and Shenzhen Mindray Bio-Medical Electronics Co. Ltd.Key Questions Answered in This Report
1. What was the size of the global Electrocardiograph (ECG) market in 2023?2. What is the expected growth rate of the global Electrocardiograph (ECG) market during 2024-2032?
3. What are the key factors driving the global Electrocardiograph (ECG) market?
4. What has been the impact of COVID-19 on the global Electrocardiograph (ECG) market?
5. What is the breakup of the global Electrocardiograph (ECG) market based on the product?
6. What is the breakup of the global Electrocardiograph (ECG) market based on the lead type?
7. What is the breakup of the global Electrocardiograph (ECG) market based on the end user?
8. What are the key regions in the global Electrocardiograph (ECG) market?
9. Who are the key players/companies in the global Electrocardiograph (ECG) market?
Table of Contents
1 Preface3 Executive Summary11 Value Chain Analysis13 Price Analysis
2 Scope and Methodology
4 Introduction
5 Global Electrocardiograph (ECG) Market
6 Market Breakup by Product
7 Market Breakup by Lead Type
8 Market Breakup by End User
9 Market Breakup by Region
10 SWOT Analysis
12 Porters Five Forces Analysis
14 Competitive Landscape
List of Figures
List of Tables
Companies Mentioned
- AliveCor Inc.
- Allengers Medical Systems Limited
- BPL Medical Technologies
- CompuMed Inc.
- Fukuda Denshi Co. Ltd.
- General Electric Company
- Hill-Rom Holdings Inc. (Baxter International Inc.)
- Innomed Medical Inc.
- Koninklijke Philips N.V.
- Midmark Corporation
- Nihon Kohden Corporation
- OSI Systems Inc.
- Schiller AG
- Shenzhen Mindray Bio-Medical Electronics Co. Ltd.
Methodology
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 137 |
| Published | April 2024 |
| Forecast Period | 2023 - 2032 |
| Estimated Market Value ( USD | $ 9.8 Billion |
| Forecasted Market Value ( USD | $ 14.8 Billion |
| Compound Annual Growth Rate | 4.6% |
| Regions Covered | Global |
| No. of Companies Mentioned | 14 |
