ECG equipment, encompassing resting, Holter, stress, event, and mobile telemetry systems, is vital for diagnosing cardiovascular diseases (CVDs), which cause 17.9 million deaths annually. The market is fueled by rising CVD risk factors like hypertension (1.3 billion cases) and diabetes (600 million cases), alongside aging populations and telehealth growth. Innovations like portable devices and AI algorithms enhance detection. The global market is projected to reach between USD 5.3 billion and USD 8.8 billion in 2025, with a CAGR of 6.3% to 8.4% through 2030.
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Regional Analysis
- North America: The U.S. leads with high CVD rates, while Canada focuses on telehealth.
- Europe: Germany, France, and the UK drive demand due to advanced diagnostics.
- Asia Pacific: China and India see growth from rising chronic diseases, while Japan emphasizes elderly care.
- Rest of the World: Brazil expands cardiac care, and the Middle East invests in monitoring tech.
Application Analysis
- Hospitals: Expected growth of 6.4%-8.5%, driven by acute care. Trends focus on integration.
- Ambulatory Surgical Centers: Projected growth of 6.2%-8.3%, linked to outpatient diagnostics. Developments emphasize portability.
- Others: Anticipated growth of 6.1%-8.2%, covering home care. Advances prioritize accessibility.
Type Analysis
- Resting ECG Systems: Expected growth of 6.3%-8.4%, valued for routine use. Trends highlight cloud connectivity.
- Holter Monitoring Systems: Projected growth of 6.4%-8.5%, key for long-term tracking. Advances focus on wearability.
- Stress ECG Monitors: Anticipated growth of 6.2%-8.3%, suited for exercise tests. Innovations emphasize accuracy.
- Event Monitoring Systems: Expected growth of 6.5%-8.6%, driven by arrhythmia detection. Trends lean toward AI.
- Mobile Cardiac Telemetry Systems: Projected growth of 6.6%-8.7%, key for real-time data. Advances focus on mobility.
Key Market Players
Leading firms include GE HealthCare, offering advanced ECGs; Philips, launching cloud-based systems; Nihon Kohden Corporation, enhancing diagnostics; Schiller, focusing on portability; Shenzhen Mindray, scaling solutions; Medtronic, supporting cardiac care; Hill-Rom Services (Baxter), boosting telemetry; AliveCor, innovating in wearables; Spacelabs Healthcare, targeting monitoring; and Johnson & Johnson, advancing tech.Porter's Five Forces Analysis
- Threat of New Entrants: Moderate, due to tech and regulatory barriers, though wearable innovators can enter.
- Threat of Substitutes: Low, as ECGs are essential for CVD diagnosis with no direct alternatives.
- Bargaining Power of Buyers: Moderate, with facilities seeking reliable, cost-effective devices, though clinical needs limit options.
- Bargaining Power of Suppliers: Low, with multiple component providers.
- Competitive Rivalry: High, with competition on AI, portability, and connectivity.
Market Opportunities and Challenges
Opportunities:
- CVDs (17.9 million deaths) and risk factors (1.3 billion hypertension cases) drive demand.
- Aging populations (2.1 billion over 60 by 2050) boost needs, while
- AI and telehealth enhance adoption. Wearable trends increase usage.
Challenges:
- High costs of advanced devices limit access in low-income regions.
- Regulatory delays for AI tech slow growth.
- Data privacy concerns pose barriers.
- Market News
- In February 2024, Thyrocare acquired Think Health, enhancing home ECG services in India.
- In January 2024, Omron launched AliveCor’s KardiaMobile in Italy and France.
- In December 2021, Baxter completed the acquisition of Hillrom.
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Table of Contents
Chapter 1 Executive SummaryChapter 2 Abbreviation and Acronyms
Chapter 3 Preface
Chapter 4 Market Landscape
Chapter 5 Market Trend Analysis
Chapter 6 Industry Chain Analysis
Chapter 7 Latest Market Dynamics
Chapter 8 Historical and Forecast Ecg Equipment Market in North America (2020-2030)
Chapter 9 Historical and Forecast Ecg Equipment Market in South America (2020-2030)
Chapter 10 Historical and Forecast Ecg Equipment Market in Asia & Pacific (2020-2030)
Chapter 11 Historical and Forecast Ecg Equipment Market in Europe (2020-2030)
Chapter 12 Historical and Forecast Ecg Equipment Market in MEA (2020-2030)
Chapter 13 Summary For Global Ecg Equipment Market (2020-2025)
Chapter 14 Global Ecg Equipment Market Forecast (2025-2030)
Chapter 15 Analysis of Global Key Vendors
List of Tables and Figures
Companies Mentioned
- GE HealthCare
- Philips
- Nihon Kohden Corporation
- Schiller
- Shenzhen Mindray Bio-Medical Electronics
- Medtronic
- Hill-Rom Services(Baxter)
- AliveCor
- Spacelabs Healthcare
- Johnson & Johnson
- ACS Diagnostics
- Allengers