The global ECG Equipment Market research report provides complete insights on industry scope, trends, regional estimates, key application, competitive landscape and financial performance of prominent players. It also offers ready data-driven answers to several industry-level questions. This study enables numerous opportunities for the market players to invest in research and development.
Market Overview:
The global ECG Equipment Market size is expected to value at USD 6.3 billion by 2022. The ECG equipment industry is subject to witness a substantial growth due to increasing occurrence of chronic diseases, changing food patterns, significant adoption of ECG monitoring systems by healthcare professionals, and ease of operation of these devices.
Key Players:
- GE Healthcare
- Philips Healthcare
- Schiller AG
- Nihon Kohden
- CardioComm Solutions, Inc.
- Johnson & Johnson
- BioTelemetry
- Compumed
- Mindray Medical
- Hill Rom
- Spacelabs Healthcare
- Welch Allyn
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Growth Drivers:
Increasing demand from healthcare specialists coupled with growing health-conscious population is expected to drive the growth of ECG equipment market over the forecast period. Furthermore, rise in the number of awareness initiatives by local governments are anticipated to offer growth opportunities for market players in the near future. However, strict laws and guidelines adopted by regional governments and lack of availability of skilled professionals are restricting the market growth, in the recent years.
Changing lifestyle and varying eating habits have steered rising occurrence cardio-vascular diseases among young as well as elderly population. High-calorie diet and lesser physical exercise are contributing to rising number of incidences of cardio-vascular diseases such as arteriosclerosis and high blood pressure. The common factors such as ever-growing pollution with the rapid industrialization and urbanization, are contributing to the respirational disorder, attributing to the demand for ECG equipment.
The ECG systems provide highly accurate test results that helps in further treatment of patients suffering from cardo-vascular disorders. Globally, the ECG equipment industry is predicted to grow at higher CAGR in the forecast period, providing numerous opportunities for market players to invest for research and development. ECG monitoring alongside multiple sensor data fusion techniques are typical methodologies implemented to enhance system capabilities by utilizing integral redundancy in data with the help of a sensor and signal processing. ECG machines are vital for diagnosis in extreme conditions and critical situations in which the diagnosis of inherently interlinked signals is needed.
Application Outlook:
- Intensive Care Units
- Battlefield Medical Facility
- Outer-space Operations
Type outlook:
- ECG Monitoring Equipment
- Holter Monitoring Systems
- Event Monitoring Systems
- ECG Stress Testing Systems
Regional Outlook:
The ECG equipment market is divided by region as North America, Europe, Asia-Pacific, Latin America and Africa. North America has shown major growth in recent years owing to the rise in implementation of latest technologies in healthcare sector, increasing number of research & development activities by prominent industry participants and existence of well-established medical facilities. Asia-Pacific region is predicted to hold a major market share in the ECG equipment with massive growth in forecast period.
Countries such as India, China and Singapore are leading the Asia-Pacific market with increasing number of medical facilities in the region, growing healthcare expenditure by local governments, increasing disposable income and significant investment by leading industry players considering potential growth opportunities in the region.
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