The size of the global market for diagnostic electrocardiograph is expected to reach USD 11.50 billion by 2029, expanding at a compound annual growth rate (CAGR) of 5.41 %.
.jpg "The Global diagnostic electrocardiograph Market 2019-2029 (USD Billion)")
An electrocardiogram (ECG) is a non-invasive diagnostic imaging tool used to diagnose the problems associated with the electrical activity of the heart. ECG measures and records the electrical activity that passes through the heart, and is performed for various cardiac indications such arrhythmia, chest pain, or palpitations, cardiac murmur.
The rapid surge in the demand for diagnostic electrocardiograph is credited to rising incidences of cardiac diseases and lifestyle-related diseases such as ischemic heart disease, stroke, hypertensive heart disease, and peripheral artery. Changing lifestyle with varying dietary habits and sedentary lifestyle have steered rising occurrence of cardiovascular diseases among young as well as elderly population. Additionally, the significant adoption of ECG monitoring systems by healthcare professionals coupled with ease of operation of these devices are expected to drive the growth of diagnostic electrocardiograph (ECG) market over the forecast period.
Corresponding to the rise in geriatric population, the number of patients with cardiac diseases will increase and subsequently augment the demand for diagnostics electrocardiograph market. Furthermore, rise in the number of awareness initiatives by local governments, supportive reimbursement policies and development of advanced & affordable remote monitoring devices support the market progress. The growing population with rapid urbanization & industrialization are causing respiratory disorders, thus fostering market demand for ECG equipment.
Holter ECG segment is expected to account for significant revenue share in the global market
Holter ECG is one of the most stable segments of diagnostic electrocardiograph. It is expected to account for larger revenue share because holter ECG monitors are considered as the most common type of ambulatory monitoring of ECG for identification of many cardiovascular diseases. Moreover, introduction of wireless Holter monitors is attributed to generate significant revenue in ECG market globally.
North America and Asia Pacific to spearhead the global market during the forecast period
North America is estimated to account for a significant market share owing to the increase in patient pool of cardiovascular diseases in the US. According to the American Heart Association on heart disease and stroke report, the number of deaths due to cardiovascular diasease in 2016 acoounted to be 840,678: presenting for 1 in every 3 individuals. Presence of well-established healthcare infrastructure, high healthcare expenditure and supportive government policies are attributed to the incumbent position of North America market.
Diagnostics electrocardiograph market is experiencing opportunistic growth in Asia Pacific due to high prevalence of cardiovascular diseases along with rising geriatric population. Additionally, growing technological advancements, rapid growth in the economy and favourable initiatives by the government in rural areas is anticipated to supplement the growth of Asia Pacific market.
Key Market Players
- GE Healthcare
- Koninklijke Philips N.V
- Nihon Kohden Corporation
- Schiller Ag
- Spacelabs Healthcare, Inc.
- CardioNet, Inc.
- Mindray Medical International Limited
- Medtronic Plc
- Asahi Kase Corporation
- Hill-Rom, Inc.
- Others
diagnostic electrocardiograph market Scope
| Metrics | Details |
| Base Year | 2023 |
| Historic Data | 2018-2022 |
| Forecast Period | 2024-2029 |
| Study Period | 2018-2029 |
| Forecast Unit | Value (USD) |
| Revenue forecast in 2029 | USD 11.50 billion |
| Growth Rate | CAGR of 5.41 % during 2019-2029 |
| Segment Covered | By Product, Lead Type, End User, Regions |
| Regions Covered | North America, Europe, Asia Pacific, South America, Middle East and Africa |
| Key Players Profiled | 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), Allengers (India), Shenzhen Mindray Bio-Medical Electronics Co., Ltd. (China), EDAN Instruments, Inc. (China), Cardioline S.P.A. (Italy), SUZUKEN CO., LTD. (Japan) |
Key Segment Of The diagnostic electrocardiograph market
Product and Service (USD Billion)
• Resting ECG
• Stress ECG Devices
• Holter Monitors
• Implantable Loop Recorders
• Event Monitors
• MCT Devices
• Smart ECG Monitors
Lead Type, (USD Billion)
• 12-lead ECG Devices
• 5-lead ECG Devices
• 3-lead ECG Devices
• 6-lead ECG Devices
• Single-lead
• Other Lead Types
End User, (USD Billion)
• Hospitals
• Clinics and Cardiac Centers
• Ambulatory Surgical Centers
• Other End Users
Regional Overview, (USD Billion)
North America
• US
• Canada
Europe
• Germany
• France
• UK
• Rest of Europe
Asia Pacific
• China
• India
• Japan
• Rest of Asia Pacific
South America
• Mexico
• Brazil
• Rest of South America
Middle East and South Africa
Frequently Asked Questions (FAQ) :
North America dominated the market for diagnostic electrocardiograph market and accounted for the largest revenue share.
To get latest version of diagnostic electrocardiograph market report can be obtained on demand from the website.
The base year for the report is 2023 in diagnostic electrocardiograph market .