The global electrocardiographs market is projected to reach $9,826.8 Million by 2031, reveals the premium market intelligence study by CRI Report. The study also highlights that the market is set to witness a CAGR of 7.8% between 2021 and 2031.
CRI Report study indicates that the global electrocardiographs market has witnessed significant growth in the past few decades, owing to rising prevalence of cardiovascular diseases, awareness about a better lifestyle, and adoption of advanced technologies in the healthcare sector. In addition, advances in electrocardiographs such as portability, constant monitoring without hindering the daily activities, and sharing data via cloud sharing directly to physicians have stimulated the growth of the electrocardiographs market. The “implantable loop recorder” has gained a lot of popularity recently and proved to be a boon for the cardiology domain. These prominent advancements in technology are expected to drive the global electrocardiographs market forward in the coming years.
To emphasize the impact of the COVID-19 pandemic on the global electrocardiographs market, Abdul Wahid, AVP, CRI Report, states, “The COVID-19 pandemic has positively impacted the market. Due to the impact of the novel COVID-19 virus on the cardiac and respiratory system, both emerging and developed countries have witnessed accelerated growth in the adoption of electrocardiographs. The rise in surgical and operative procedures globally and the growing cases of various cardiovascular and related diseases are expected to leave a positive impact on the global electrocardiographs market. The electrocardiographs market has been witnessing increasing activity and innovation from new market entrants. Most of the new features in connected devices are portability of the ECG machines, constant monitoring for days without hindering the daily activities of the patient’s life and sharing of data via cloud sharing directly to a physician. In terms of business model, facilities, product functionality, and user interface, the increased level of competition is expected to pave the way for further innovation.”
Key companies operating in the market
Leading companies, market participants, and vendors operating in the market include Abbott Laboratories, Biotricity, Inc., BIOTRONIK SE & Co. KG, Boston Scientific Corporation, CardioComm Solutions, Inc., Cardioline SpA, Fukuda Denshi Co., Ltd., General Electric Company, Hill-Rom Holdings, Inc., iRhythm Technologies, Inc., Koninklijke Philips N.V., Medtronic plc, Nihon Kohden Corporation, OSI Systems, Inc., and Zoll Medical Corporation (Asahi Kasei Corporation).
Who should buy this report?
• Electrocardiographs manufacturers (emerging and established) to gain a holistic view of the market potential of various devices and software and the developing economies for business expansions.
• Established technology companies to gain insights about the market potential, market entry strategies, new technologies in the market, and key competitors.
• Cath lab and medical instruments manufacturers to diversify their product portfolio.
How can market intelligence on electrocardiographs market add value to an organization’s decision-making process?
• Aid in product development
• Aid in understanding the regulatory scenario of the market in different regions
• Aid in understanding the competitive landscape of the market
• Aid in understanding the COVID-19 impact on the global electrocardiographs market
• Help in targeting a segment for launching a new product
• Aid in understanding the market potential of different technologies
• Aid in understanding the end-user requirement
• Support in analyzing the market opportunities
• Insights about key companies in the market
Scope of the Global Electrocardiographs Market Report:
• Global trends
• COVID-19 impact analysis
• Available products, end-user segments, and respective sub-divisions influencing the market
• Study of more than 400 products present in the market
• Detailed competitive landscape
• Technology development scenario
• Detailed market share analysis
• Study data of over 22 countries
• Future perspective of the market
• Growth factors
• Market challenges/restraints
• Detailed market segmentation
Consumer demand for mobile and portable cardiac monitors has been growing in recent years, owing to developments in emerging devices such as implantable loop recorders, mobile cardiac telemetry, Holter monitors, and cardiac event monitors. According to the market intelligence report on the global electrocardiographs market, in both developed and emerging economies, devices such as implantable loop recorders and mobile cardiac telemetry have seen increased adoption.
Also, some of the key technologies that are expected to have a strong impact on the transformation of the global electrocardiographs market during 2021-2031 include remote ECG monitoring systems and integration of electrocardiograph machines with artificial intelligence (AI).
Market Segmentation
• Products available under Global Electrocardiographs Market: By product type the market is segmented into conventional devices and emerging devices. Under the conventional devices segment, resting ECG machines and stress ECG machines are included, whereas, under the emerging devices segment, implantable loop recorders, mobile cardiac telemetry, Holter monitors, and cardiac event monitors are included. The stress ECG machines, and the mobile cardiac telemetry segments are expected to grow at the highest CAGR during the forecast period 2021-2031. Revenue generated by the resting ECG and implantable loop recorders segment accounted for approximately 61.5% and 38.0%, respectively, of the overall market revenue in 2020.
• End Users of Global Electrocardiographs Market: Hospitals and clinics, home care settings and ambulatory surgical centers, and others are the end users for the global electrocardiographs market.
• Regions covered in the Global Electrocardiographs Market: North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa. Revenue generated by the U.S. accounted for 33.2% of the overall market revenue in 2020, which was the largest market share in terms of revenue compared to other regions for 2020. The Asia-Pacific is expected to lead the position by the end of the forecast period 2021-2031. The North America region was followed by Asia-Pacific, Europe, Latin America, and the Middle East and Africa.
Insightful Questions Covered to Enable Companies take Strategic Decisions:
• What was the impact of the COVID-19 pandemic on the global electrocardiographs market?
• What are the key technological trends that influence the global electrocardiographs market? What is their future potential?
• Who are the emerging or regional players in the global electrocardiographs market?
• What are the legal regulations for electrocardiograph devices across various economies?
• How has the patent filing trend influenced the growth of the global electrocardiographs market?
• Who are the key players in the global electrocardiographs market?
• What are the key synergistic activities employed by the companies operating or entering the global electrocardiographs market?
• What are the key drivers and restraints for the global electrocardiographs market?
• What are the growth opportunities in the global electrocardiographs market?
• Which product type is anticipated to grow with the highest CAGR during the forecast period 2021-2031?
• Which geographical region is anticipated to dominate the global electrocardiographs market during the forecast period 2021-2031?
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