PUBLISHER: Bizwit Research & Consulting LLP | PRODUCT CODE: 1461174
PUBLISHER: Bizwit Research & Consulting LLP | PRODUCT CODE: 1461174
Global Diagnostic Electrocardiograph (ECG) Market is valued at approximately USD 7.58 billion in 2022 and is anticipated to grow with a healthy growth rate of more than 6.9% during the forecast period 2023-2030. A Diagnostic Electrocardiograph (ECG) is a medical device that records the heart's electrical activity. It helps diagnose heart conditions by measuring electrical signals as the heart beats. The ECG provides valuable information about heart rhythm, rate, and abnormalities, aiding doctors in making treatment decisions. The global market is witnessing growth primarily due to the escalating of the elderly population worldwide, leading to an increased incidence of heart-related conditions. The United Nations' World Population Ageing Report of 2019 indicated that there were 703 million individuals aged 65 or older worldwide in 2019, with projections indicating that this figure is expected to double, reaching 1.5 billion by 2050. Additionally, the rise in research funding and grants dedicated to the cardiac diagnosis, along with supportive government initiatives, is primarily attributed to the market growth across the globe.
Additionally, the rise in the incidence of lifestyle and cardiovascular diseases is also directly associated with the need for various diagnostic and treatment alternatives, which, in turn, accelerates the market growth at a substantial rate. These devices are used in early detection, screening programs, and monitoring of chronic conditions associated with heart health. The World Health Organization (WHO) stated that cardiovascular diseases (CVDs) are the major reason of mortality worldwide, accounted for around 17.9 million lives per year. Moreover, technological advancements have led to the development of portable and wearable ECG devices, enhancing patient compliance, and enabling real-time monitoring. With the aging population, there is a growing need for non-invasive cardiac assessment tools, making ECGs essential for diagnosing and managing heart conditions in elderly patients. Thus, the increasing prevalence of cardiovascular diseases highlights the crucial importance of Diagnostic Electrocardiographs in enhancing cardiac care and intervention approaches, which is propelling the growth of the Diagnostic Electrocardiograph (ECG) Market over the estimated period. Furthermore, the development of wireless monitoring and wearable cardiac devices, as well as the rising integration of ECGs into telemedicine platforms and remote monitoring solutions present various lucrative opportunities over the forecast years. However, the stringent regulatory requirements delaying the approval of cardiac devices and the dearth of skilled professionals are hindering the market growth throughout the forecast period of 2023-2030.
The key regions considered for the Global Diagnostic Electrocardiograph (ECG) Market study include Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. North America dominated the market in 2022 owing to the rising prevalence of cardiovascular disease, robust healthcare infrastructure, expanding aging population, and increased adoption of remote monitoring devices. Whereas, Asia Pacific is expected to grow at the highest CAGR over the forecast years. The rapid rise in population, increasing disposable income, and the development of healthcare infrastructure are significantly propelling the market demand across the region.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
List of tables and figures and dummy in nature, final lists may vary in the final deliverable
List of tables and figures and dummy in nature, final lists may vary in the final deliverable