PUBLISHER: The Business Research Company | PRODUCT CODE: 1559155
PUBLISHER: The Business Research Company | PRODUCT CODE: 1559155
Electrocardiogram (ECG) equipment and management systems encompass devices and software used to capture, record, analyze, and manage ECGs. These systems are crucial for monitoring and diagnosing cardiac conditions by measuring the heart's electrical activity over time. They play a vital role in diagnosis, continuous monitoring, data management, and remote patient care.
The main types of ECG equipment and management systems include Holter monitors, resting ECG systems, stress ECG monitors, event monitoring systems, and ECG management systems. Holter monitors are portable devices designed to continuously record the heart's electrical activity for 24 to 48 hours. They come in various lead configurations, including single lead, 3-6 lead, and 12-lead types, and are used by a range of end-users such as hospitals, clinics, ambulatory centers, and others.
The electrocardiogram (ECG) equipment and management system market research report is one of a series of new reports from The Business Research Company that provides electrocardiogram (ECG) equipment and management system market statistics, including electrocardiogram (ECG) equipment and management system industry global market size, regional shares, competitors with an electrocardiogram (ECG) equipment and management system market share, detailed electrocardiogram (ECG) equipment and management system market segments, market trends, and opportunities, and any further data you may need to thrive in the electrocardiogram (ECG) equipment and management system industry. This electrocardiogram (ECG) equipment and management system market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The electrocardiogram (ECG) equipment and management system market size has grown strongly in recent years. It will grow from $5.81 billion in 2023 to $6.25 billion in 2024 at a compound annual growth rate (CAGR) of 7.5%. The growth during the historic period can be attributed to rising healthcare expenditure, an expanding aging population, an increase in diabetes and hypertension, a growing demand for ambulatory monitoring devices, and a higher prevalence of cardiac arrhythmias.
The electrocardiogram (ECG) equipment and management system market size is expected to see strong growth in the next few years. It will grow to $8.38 billion in 2028 at a compound annual growth rate (CAGR) of 7.6%. The anticipated growth in the forecast period can be attributed to the rising prevalence of cardiovascular disorders (CVDs), increased adoption of remote monitoring, a higher incidence of hypertension, government initiatives and funding, a growing number of cardiac patients, and a rising demand for effective cardiac monitoring solutions. Major trends expected during this period include the development of telemedicine, the adoption of remote patient monitoring, integration of ECG systems with electronic health records (EHRs), ongoing innovation and demand for advanced cardiac care products, and the introduction of wireless and portable ECG devices.
The anticipated growth of the electrocardiogram (ECG) equipment and management system market is driven by the increasing prevalence of cardiovascular disorders (CVDs). CVDs encompass a range of conditions affecting the heart and blood vessels, such as heart attacks, strokes, and peripheral vascular disease. This rise in cardiovascular disorders is largely due to unhealthy diets, rising obesity rates, and aging populations. ECG management systems play a significant role by monitoring cardiac rhythms, detecting ischemia early, and storing data for long-term management of chronic conditions, which improves patient outcomes and treatment quality. For example, in January 2024, the American Heart Association reported that cardiovascular disease led to 931,578 deaths in the U.S. in 2021. Additionally, data from the Centers for Disease Control and Prevention in May 2023 indicated that the prevalence of coronary heart disease among U.S. adults aged 18 and over rose from 4.6% in 2020 to 4.9% in 2021. Thus, the increasing prevalence of cardiovascular disorders is fueling the growth of the ECG equipment and management system market.
Key players in the ECG equipment and management system market are advancing their offerings by developing AI-powered portable ECG systems, which provide healthcare providers with clinically validated tools for rapid ECG diagnosis and detection. These portable ECG systems use artificial intelligence (AI) algorithms to analyze ECG signals and detect abnormalities that may be challenging for human experts to identify. For instance, in June 2024, AliveCor Inc., a U.S.-based medical device company, introduced the KAI 12L AI technology and the Kardia 12L ECG System, which are FDA-cleared. The KAI 12L AI technology can identify 35 cardiac indications using a compact leadset. The Kardia 12L ECG System is a handheld, AI-powered 12-lead ECG device with a unique single-cable architecture and five electrodes, providing eight high-quality diagnostic bandwidth leads. Its portability and ease of use make it a valuable tool for extending cardiac diagnostics to underserved areas, enabling healthcare providers with limited ECG experience to obtain accurate readings quickly.
In August 2021, Hill-Rom Holdings, Inc., a U.S.-based medical device company, acquired Bardy Diagnostics, Inc. for $375 million. This acquisition enhances Hillrom's cardiology solutions and strengthens its diagnostic cardiology capabilities. Bardy Diagnostics Inc. is a U.S.-based manufacturer of cardiac monitoring devices specializing in ambulatory ECG monitoring solutions.
Major companies operating in the electrocardiogram (ECG) equipment and management system market are Koninklijke Philips N.V., GE Healthcare, Mindray Medical, Hill-Rom Holdings Inc., Nihon Kohden Corporation, Lepu Medical Technology(Beijing)Co. Ltd., Spacelabs Healthcare, Welch Allyn, Fukuda Denshi, Edan Instruments Inc., Midmark Corporation, Schiller, Contec Medical Systems Co. Ltd., Bionet America Inc., Nasiff Associates Inc., Cardioline, Norav Medical, LUMED srl, Tenko Medical System Corp., Cardiac Design Labs, BTL Group
North America was the largest region in the electrocardiogram (ECG) equipment and management system market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the electrocardiogram (ECG) equipment and management system market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the electrocardiogram (ECG) equipment and management system market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The electrocardiogram (ECG) equipment and management system market consists of revenues earned by entities by providing services such as data analysis and interpretation, data storage, and management. The market value includes the value of related goods sold by the service provider or included within the service offering. The electrocardiogram (ECG) equipment and management system market also includes sales of implantable loop recorders, wireless ECG systems, ambulatory ECG monitors, and mobile cardiac telemetry (MCT) systems. Values in this market are 'factory gate' values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Electrocardiogram (ECG) Equipment And Management System Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on electrocardiogram (ECG) equipment and management system market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for electrocardiogram (ECG) equipment and management system ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The electrocardiogram (ECG) equipment and management system market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of COVID-19 on supply chains and consumption patterns.