PUBLISHER: IMARC | PRODUCT CODE: 1701935
PUBLISHER: IMARC | PRODUCT CODE: 1701935
The global electrocardiograph (ECG) market size reached USD 10.2 Billion in 2024. Looking forward, IMARC Group expects the market to reach USD 15.3 Billion by 2033, exhibiting a growth rate (CAGR) of 4.32% during 2025-2033. The market growth is majorly driven by the rising healthcare awareness, technological advancements, and increasing prevalence of cardiovascular diseases. Moreover, the amplifying demand for enhanced diagnostic accuracy, portable ECG devices, and rapid development of healthcare infrastructure, particularly in emerging economies, further expands 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.
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.
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.