Electrocardiograph (ECG) Market Size, Share & Analysis Report -2030
The global Electrocardiograph market size was estimated at USD 9.2 billion in 2021 and is expected to surpass around USD 21.7 billion by 2030 and poised to grow at a compound annual growth rate (CAGR) of 10% during the forecast period 2022 to 2030.
Key Takeaways:
Electrocardiograph (ECG) is a device that records surface potentials associated with the electrical activity of heart. The surface potentials are conducted to instrument by metal contacts called electrodes, which are fixed to various parts of the body. Electrodes are attached to four limbs and over the heart.
ECG monitoring devices such as resting ECG, stress ECG, and Holter monitors help to identify and provide information about abnormal functioning of the heart. According to the Centers for Disease Control and Prevention, cardiovascular diseases are the most common health problems faced by people across the globe, with high mortality rate accounting for 696,962 deaths in 2020 in the U.S. According to the World Health Organization (WHO), cardiovascular diseases are the leading cause of death worldwide and result in around 17.9 million deaths each year. This propels the demand for ECG attributable to increase in number of ECG tests conducted for individuals susceptible to cardiac diseases. The other key factors that boost the growth of ECG market share include technological advancements in ECG devices, rise in incidence of cardiovascular diseases globally, and favorable government regulations regarding monitoring devices. Moreover, rise in geriatric population is expected to foster the ECG market size.
Increase in R&D activities of advanced technology for electrocardiograph device is driving the market. New product development and innovation in designing in electrocardiograph contribute toward the market growth. For instance, in 2020, AliveCor, a U.S.-based company, launched KardiaMobile 6L, which is a personal ECG device in India. In addition, the introduction of remote monitoring devices with single lead and portable ECG systems is set to the drive the growth of the market.
However, certain aspects such as unfavorable reimbursement policies and increase in market saturation hamper the market growth. Along with this, lack of skilled professionals to operate electrocardiograph acts as a challenging factor for the growth of the market.
Report Scope of the Electrocardiograph (ECG) Market
|
Report Coverage |
Details |
|
Market Size in 2022 |
USD 10.12 Billion |
|
Market Size by 2030 |
USD 21.7 Billion |
|
Growth Rate from 2022 to 2030 |
CAGR of 10% |
|
Base Year |
2021 |
|
Forecast Period |
2022 to 2030 |
|
Segments Covered |
Product, Technology, End User, Lad Type, Geography |
|
Companies Mentioned |
General Electric Company (US), Koninklijke Philips N.V. (Netherlands), NIHON KOHDEN CORPORATION. (Japan), Hill-Rom Services, Inc. (US), Ambu A/S. (Denmark), SCHILLER (India), ACSDiagnostics. (US), BPL, FUKUDA DENSHI (Japan), BioTelemetry, Inc. (US), OSI Systems, Inc. (US), BTL. (US), SUZUKEN CO., LTD. (Japan), Shenzhen Mindray Bio-Medical Electronics Co., Ltd. (China), Allengers (India), Cardioline S.P.A. (Italy), EDAN Instruments, Inc. (China), Nexus Lifecare (India), Innomed Medical Inc. (Hungary), Norav Medical (US), Spacelabs Healthcare (US), BIONET (US), Midmark Corporation (US), VectraCor, Inc. (US) |
Segment analysis:
Depending on product, the resting electrocardiograph (ECG) segment dominated the market in 2020, and this trend is expected to continue during the forecast period, owing to as these ECG devices are highly adopted for the basic cardiac monitoring of patients. Several market players are focused towards developing advanced ECG systems that can be ideal for the diagnosis of cardiovascular diseases. However, the Holter monitors segment is expected to witness considerable growth during the forecast period, due to increasing demand for the detection of cardiac arrhythmias along with the diagnosis of patients suffering from cardiac arrhythmias. In addition, the utilization of Holter monitors has been extended into quantification of arrhythmias, evaluation of the antiarrhythmic therapy, and analyzing prognostic aspects of the arrhythmias.
On the basis of end user, the hospitals & clinics segment dominated the market in 2020, and this trend is expected to continue during the forecast period, owing to large-scale adoption of ECG systems by hospitals along with routine utilization of the ECG tests by the physicians. However, the home setting and ambulatory surgical centers (ASCs) segment is expected to witness considerable growth during the forecast period, due to increasing recommendation of ECG tests prior to and post surgeries in the ambulatory surgical centers.
On the basis of lead type, the 6 lead ECG segment dominated the market in 2020, and this trend is expected to continue during the forecast period, owing to increasing demand for 6 lead ECG in the diagnosis of cardiac disorders, which enable the doctor to have a clear view of the interior portion of the heart. However, the 12 lead ECG segment is expected to witness considerable growth during the forecast period, due to increasing utilization of 12-lead ECG systems as an experienced physician can view the interior of the heart from many different angles.
Some of the prominent players in the Electrocardiograph Market include:
Segments Covered in the Report
This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2030. For this study, Nova one advisor, Inc. has segmented the global Electrocardiograph market
By Product
By Technology
By End User
By Lad Type
By Geography
North America
Europe
Asia Pacific
Latin America
Middle East & Africa (MEA)
Key Benefits for Stakeholders
Chapter 1. Introduction
1.1. Research Objective
1.2. Scope of the Study
1.3. Definition
Chapter 2. Research Methodology
2.1. Research Approach
2.2. Data Sources
2.3. Assumptions & Limitations
Chapter 3. Executive Summary
3.1. Market Snapshot
Chapter 4. Market Variables and Scope
4.1. Introduction
4.2. Market Classification and Scope
4.3. Industry Value Chain Analysis
4.3.1. Raw Material Procurement Analysis
4.3.2. Sales and Distribution Channel Analysis
4.3.3. Downstream Buyer Analysis
Chapter 5. COVID 19 Impact on Electrocardiograph (ECG) Market
5.1. COVID-19 Landscape: Electrocardiograph (ECG) Industry Impact
5.2. COVID 19 - Impact Assessment for the Industry
5.3. COVID 19 Impact: Global Major Government Policy
5.4. Market Trends and Opportunities in the COVID-19 Landscape
Chapter 6. Market Dynamics Analysis and Trends
6.1. Market Dynamics
6.1.1. Market Drivers
6.1.2. Market Restraints
6.1.3. Market Opportunities
6.2. Porter’s Five Forces Analysis
6.2.1. Bargaining power of suppliers
6.2.2. Bargaining power of buyers
6.2.3. Threat of substitute
6.2.4. Threat of new entrants
6.2.5. Degree of competition
Chapter 7. Competitive Landscape
7.1.1. Company Market Share/Positioning Analysis
7.1.2. Key Strategies Adopted by Players
7.1.3. Vendor Landscape
7.1.3.1. List of Suppliers
7.1.3.2. List of Buyers
Chapter 8. Global Electrocardiograph (ECG) Market, By Product
8.1. Electrocardiograph (ECG) Market, by Product, 2022-2030
8.1.1. Holter Monitors
8.1.1.1. Market Revenue and Forecast (2017-2030)
8.1.2. Resting Electrocardiograph (ECG)
8.1.2.1. Market Revenue and Forecast (2017-2030)
8.1.3. Stress Electrocardiograph (ECG)
8.1.3.1. Market Revenue and Forecast (2017-2030)
8.1.4. Event Recorders
8.1.4.1. Market Revenue and Forecast (2017-2030)
8.1.5. Others
8.1.5.1. Market Revenue and Forecast (2017-2030)
Chapter 9. Global Electrocardiograph (ECG) Market, By Technology
9.1. Electrocardiograph (ECG) Market, by Technology, 2022-2030
9.1.1. Portable ECG Systems
9.1.1.1. Market Revenue and Forecast (2017-2030)
9.1.2. Wireless ECG Systems
9.1.2.1. Market Revenue and Forecast (2017-2030)
Chapter 10. Global Electrocardiograph (ECG) Market, By End User
10.1. Electrocardiograph (ECG) Market, by End User, 2022-2030
10.1.1. Hospitals & Clinics
10.1.1.1. Market Revenue and Forecast (2017-2030)
10.1.2. Home Settings & Ambulatory Surgical Centers (ASCs)
10.1.2.1. Market Revenue and Forecast (2017-2030)
10.1.3. Others
10.1.3.1. Market Revenue and Forecast (2017-2030)
Chapter 11. Global Electrocardiograph (ECG) Market, By Lad Type
11.1. Electrocardiograph (ECG) Market, by Lad Type, 2022-2030
11.1.1. Single Lead ECG
11.1.1.1. Market Revenue and Forecast (2017-2030)
11.1.2. 3 Lead ECG
11.1.2.1. Market Revenue and Forecast (2017-2030)
11.1.3. 2 Lead ECG
11.1.3.1. Market Revenue and Forecast (2017-2030)
11.1.4. 6 Lead ECG
11.1.4.1. Market Revenue and Forecast (2017-2030)
11.1.5. 12-Lead ECG
11.1.5.1. Market Revenue and Forecast (2017-2030)
Chapter 12. Global Electrocardiograph (ECG) Market, Regional Estimates and Trend Forecast
12.1. North America
12.1.1. Market Revenue and Forecast, by Product (2017-2030)
12.1.2. Market Revenue and Forecast, by Technology (2017-2030)
12.1.3. Market Revenue and Forecast, by End User (2017-2030)
12.1.4. Market Revenue and Forecast, by Lad Type (2017-2030)
12.1.5. U.S.
12.1.5.1. Market Revenue and Forecast, by Product (2017-2030)
12.1.5.2. Market Revenue and Forecast, by Technology (2017-2030)
12.1.5.3. Market Revenue and Forecast, by End User (2017-2030)
12.1.5.4. Market Revenue and Forecast, by Lad Type (2017-2030)
12.1.6. Rest of North America
12.1.6.1. Market Revenue and Forecast, by Product (2017-2030)
12.1.6.2. Market Revenue and Forecast, by Technology (2017-2030)
12.1.6.3. Market Revenue and Forecast, by End User (2017-2030)
12.1.6.4. Market Revenue and Forecast, by Lad Type (2017-2030)
12.2. Europe
12.2.1. Market Revenue and Forecast, by Product (2017-2030)
12.2.2. Market Revenue and Forecast, by Technology (2017-2030)
12.2.3. Market Revenue and Forecast, by End User (2017-2030)
12.2.4. Market Revenue and Forecast, by Lad Type (2017-2030)
12.2.5. UK
12.2.5.1. Market Revenue and Forecast, by Product (2017-2030)
12.2.5.2. Market Revenue and Forecast, by Technology (2017-2030)
12.2.5.3. Market Revenue and Forecast, by End User (2017-2030)
12.2.5.4. Market Revenue and Forecast, by Lad Type (2017-2030)
12.2.6. Germany
12.2.6.1. Market Revenue and Forecast, by Product (2017-2030)
12.2.6.2. Market Revenue and Forecast, by Technology (2017-2030)
12.2.6.3. Market Revenue and Forecast, by End User (2017-2030)
12.2.6.4. Market Revenue and Forecast, by Lad Type (2017-2030)
12.2.7. France
12.2.7.1. Market Revenue and Forecast, by Product (2017-2030)
12.2.7.2. Market Revenue and Forecast, by Technology (2017-2030)
12.2.7.3. Market Revenue and Forecast, by End User (2017-2030)
12.2.7.4. Market Revenue and Forecast, by Lad Type (2017-2030)
12.2.8. Rest of Europe
12.2.8.1. Market Revenue and Forecast, by Product (2017-2030)
12.2.8.2. Market Revenue and Forecast, by Technology (2017-2030)
12.2.8.3. Market Revenue and Forecast, by End User (2017-2030)
12.2.8.4. Market Revenue and Forecast, by Lad Type (2017-2030)
12.3. APAC
12.3.1. Market Revenue and Forecast, by Product (2017-2030)
12.3.2. Market Revenue and Forecast, by Technology (2017-2030)
12.3.3. Market Revenue and Forecast, by End User (2017-2030)
12.3.4. Market Revenue and Forecast, by Lad Type (2017-2030)
12.3.5. India
12.3.5.1. Market Revenue and Forecast, by Product (2017-2030)
12.3.5.2. Market Revenue and Forecast, by Technology (2017-2030)
12.3.5.3. Market Revenue and Forecast, by End User (2017-2030)
12.3.5.4. Market Revenue and Forecast, by Lad Type (2017-2030)
12.3.6. China
12.3.6.1. Market Revenue and Forecast, by Product (2017-2030)
12.3.6.2. Market Revenue and Forecast, by Technology (2017-2030)
12.3.6.3. Market Revenue and Forecast, by End User (2017-2030)
12.3.6.4. Market Revenue and Forecast, by Lad Type (2017-2030)
12.3.7. Japan
12.3.7.1. Market Revenue and Forecast, by Product (2017-2030)
12.3.7.2. Market Revenue and Forecast, by Technology (2017-2030)
12.3.7.3. Market Revenue and Forecast, by End User (2017-2030)
12.3.7.4. Market Revenue and Forecast, by Lad Type (2017-2030)
12.3.8. Rest of APAC
12.3.8.1. Market Revenue and Forecast, by Product (2017-2030)
12.3.8.2. Market Revenue and Forecast, by Technology (2017-2030)
12.3.8.3. Market Revenue and Forecast, by End User (2017-2030)
12.3.8.4. Market Revenue and Forecast, by Lad Type (2017-2030)
12.4. MEA
12.4.1. Market Revenue and Forecast, by Product (2017-2030)
12.4.2. Market Revenue and Forecast, by Technology (2017-2030)
12.4.3. Market Revenue and Forecast, by End User (2017-2030)
12.4.4. Market Revenue and Forecast, by Lad Type (2017-2030)
12.4.5. GCC
12.4.5.1. Market Revenue and Forecast, by Product (2017-2030)
12.4.5.2. Market Revenue and Forecast, by Technology (2017-2030)
12.4.5.3. Market Revenue and Forecast, by End User (2017-2030)
12.4.5.4. Market Revenue and Forecast, by Lad Type (2017-2030)
12.4.6. North Africa
12.4.6.1. Market Revenue and Forecast, by Product (2017-2030)
12.4.6.2. Market Revenue and Forecast, by Technology (2017-2030)
12.4.6.3. Market Revenue and Forecast, by End User (2017-2030)
12.4.6.4. Market Revenue and Forecast, by Lad Type (2017-2030)
12.4.7. South Africa
12.4.7.1. Market Revenue and Forecast, by Product (2017-2030)
12.4.7.2. Market Revenue and Forecast, by Technology (2017-2030)
12.4.7.3. Market Revenue and Forecast, by End User (2017-2030)
12.4.7.4. Market Revenue and Forecast, by Lad Type (2017-2030)
12.4.8. Rest of MEA
12.4.8.1. Market Revenue and Forecast, by Product (2017-2030)
12.4.8.2. Market Revenue and Forecast, by Technology (2017-2030)
12.4.8.3. Market Revenue and Forecast, by End User (2017-2030)
12.4.8.4. Market Revenue and Forecast, by Lad Type (2017-2030)
12.5. Latin America
12.5.1. Market Revenue and Forecast, by Product (2017-2030)
12.5.2. Market Revenue and Forecast, by Technology (2017-2030)
12.5.3. Market Revenue and Forecast, by End User (2017-2030)
12.5.4. Market Revenue and Forecast, by Lad Type (2017-2030)
12.5.5. Brazil
12.5.5.1. Market Revenue and Forecast, by Product (2017-2030)
12.5.5.2. Market Revenue and Forecast, by Technology (2017-2030)
12.5.5.3. Market Revenue and Forecast, by End User (2017-2030)
12.5.5.4. Market Revenue and Forecast, by Lad Type (2017-2030)
12.5.6. Rest of LATAM
12.5.6.1. Market Revenue and Forecast, by Product (2017-2030)
12.5.6.2. Market Revenue and Forecast, by Technology (2017-2030)
12.5.6.3. Market Revenue and Forecast, by End User (2017-2030)
12.5.6.4. Market Revenue and Forecast, by Lad Type (2017-2030)
Chapter 13. Company Profiles
13.1. General Electric Company (US)
13.1.1. Company Overview
13.1.2. Product Offerings
13.1.3. Financial Performance
13.1.4. Recent Initiatives
13.2. Koninklijke Philips N.V. (Netherlands)
13.2.1. Company Overview
13.2.2. Product Offerings
13.2.3. Financial Performance
13.2.4. Recent Initiatives
13.3. NIHON KOHDEN CORPORATION. (Japan)
13.3.1. Company Overview
13.3.2. Product Offerings
13.3.3. Financial Performance
13.3.4. Recent Initiatives
13.4. Hill-Rom Services, Inc. (US)
13.4.1. Company Overview
13.4.2. Product Offerings
13.4.3. Financial Performance
13.4.4. Recent Initiatives
13.5. Ambu A/S. (Denmark)
13.5.1. Company Overview
13.5.2. Product Offerings
13.5.3. Financial Performance
13.5.4. Recent Initiatives
13.6. SCHILLER (India)
13.6.1. Company Overview
13.6.2. Product Offerings
13.6.3. Financial Performance
13.6.4. Recent Initiatives
13.7. ACSDiagnostics. (US)
13.7.1. Company Overview
13.7.2. Product Offerings
13.7.3. Financial Performance
13.7.4. Recent Initiatives
13.8. BPL, FUKUDA DENSHI (Japan)
13.8.1. Company Overview
13.8.2. Product Offerings
13.8.3. Financial Performance
13.8.4. Recent Initiatives
13.9. BioTelemetry, Inc. (US)
13.9.1. Company Overview
13.9.2. Product Offerings
13.9.3. Financial Performance
13.9.4. Recent Initiatives
13.10. OSI Systems, Inc. (US)
13.10.1. Company Overview
13.10.2. Product Offerings
13.10.3. Financial Performance
13.10.4. Recent Initiatives
Chapter 14. Research Methodology
14.1. Primary Research
14.2. Secondary Research
14.3. Assumptions
Chapter 15. Appendix
15.1. About Us
15.2. Glossary of Terms
Cross-segment Market Size and Analysis for Mentioned Segments
Additional Company Profiles
(Upto 5 With No Cost)
Additional Countries (Apart
From Mentioned Countries)
Country/Region-specific Report
Go To Market Strategy
Region Specific Market DynamicsRegion Level Market Share Import Export AnalysisProduction AnalysisOthers