Diagnostic Electrocardiograph (ECG) Market By Product (Resting ECG, Stress, Mobile Cardiac Telemetry Device, Implantable Loop Recorder) and Service, By Lead Type (12-lead, 6-lead, 5- lead), End User, and Region – Global Forecast to 2024 The major key players in the diagnostic electrocardiograph (ECG) market are GE Healthcare (US), Philips Healthcare (Netherlands), Nihon Kohden (Japan), Hill-Rom Holdings (US), and Ambu (Denmark).
The global diagnostic electrocardiograph (ECG) market size is expected to reach USD 10.3 billion by 2024 from USD 7.5 billion in 2019, at a CAGR of 6.4% during the forecast period.
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The scope of the report includes diagnostic ECG products and services used for the continuous monitoring, detection, and treatment of heart activities and abnormal heart rhythm (electric heart patterns).
The rising incidence of lifestyle-related cardiovascular diseases, growing geriatric population, and increasing technological advancements in wireless monitoring and wearable devices are the major factors driving the growth of the market. However, the dearth of skilled professionals is expected to restrain the growth of the diagnostic electrocardiograph (ECG) market to a certain extent.
In the Diagnostic Electrocardiograph (ECG) Market business report, industry trends are formulated on a macro level which helps clients and businesses comprehend the marketplace and possible future issues. This market research report involves key data and information about the industry, emerging trends, product usage, motivating factors for customers and competitors, restraints, brand positioning, and customer behaviour. A detailed market study and analysis of trends in consumer and supply chain dynamics cited in this report helps businesses draw the strategies about sales, marketing, advertising, and promotion. The finest Diagnostic Electrocardiograph (ECG) Market research report is generated with the expertise and innovation of a team of researchers, forecasters, analysts and managers.
The 3-lead ECG segment is expected to grow at the highest CAGR in the diagnostic electrocardiograph (ECG) market during the forecast period
By lead type, the diagnostic ECG market is divided into 12-lead, 5-lead, 3-lead, 6-lead, single-lead, and other lead types (15- and 18-lead). The 3-lead segment is expected to grow at the highest CAGR during the forecast period. This positive growth is due to the fact that these leads are used conjointly with various other cardiac diagnostic tests and during medical procedures.
Resting ECG devices held the largest share of the diagnostic electrocardiograph (ECG) industry in 2018
Based on products and services, the diagnostic electrocardiograph (ECG) market is classified into ECG devices, implantable loop recorders, event monitors, cardiac output monitors, mobile cardiac telemetry, and smart wearable ECG monitors. The large share of this segment can primarily be attributed to the increasing incidence of cardiovascular diseases, the wide application of ECG devices in CVD management, the development of technologically advanced devices, and government initiatives.
Hospitals, clinics,& cardiac centers held the largest share of the diagnostic electrocardiograph (ECG) market in 2018
Based on end user, the diagnostic electrocardiograph (ECG) market is classified into hospitals, clinics,& cardiac centers; ambulatory surgical centers; and other end users. The large share of the hospitals, clinics, & cardiac centers segment can primarily be attributed to increasing the need for quality cardiology care and increasing prevalence of cardiovascular diseases, growing number of cardiac centers, increasing number of patient visits to physician offices for the diagnosis of CVDs, and the availability of reimbursements for Holter & event monitors across developed markets.
North America accounted for the largest share of the market in 2019
On the basis of region, the diagnostic electrocardiograph (ECG) market is segmented into North America, Europe, Asia, and RoW. North America accounted for the largest share of the diagnostic electrocardiograph (ECG) market in 2018. The large share of this regional segment can be attributed to the growth in the geriatric population and the subsequent growth in the prevalence of cardiovascular diseases, high accessibility to advanced technologies, increasing development of innovative and technologically advanced products, and increasing healthcare expenditure in the region.
Break-up of Primaries:
- By Respondent Type: Supply Side (80%), Demand Side (20%)
- By Designation: C-level (57%), D-level (18%), and Others (25%)
- By Region: North America (50%), Europe (20%), APAC (20%), and RoW (10%)
In this report, the diagnostic electrocardiograph (ECG) market is segmented by product& service, lead type,end user,and region. The report provides a detailed overview of the major drivers, challenges, opportunities, and restraining factors impacting the market, along with the estimates and forecasts of the revenue.
Reasons to Buy this Report:
The report provides insights into the following pointers:
- Market Penetration: Comprehensive information on the portfolios offered by the top players in the diagnostic electrocardiograph (ECG) market. The report analyzes the market by product& service, lead type, end user, and region.
- Product Development: Detailed insights into the upcoming research & development activities and product launches in the diagnostic electrocardiograph (ECG) market.
- Market Development: Comprehensive information about the lucrative emerging markets.The report analyzes the markets for diagnostic electrocardiograph (ECG) across regions.
- Market Diversification: Exhaustive information about new products, untapped geographies, and recent developments in the diagnostic electrocardiograph (ECG) industry.
- Competitive Assessment: In-depth assessment of strategies, products, and manufacturing capabilities of the key players in the diagnostic electrocardiograph (ECG) market.
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Table of Contents
1.1 Objectives of the Study
1.2 Market Definition
1.3 Markets Covered
1.4 Years Considered for the Study
2 Research Methodology
2.1 Research Data
2.2 Secondary Data
2.2.1 Key Data From Secondary Sources
2.3 Primary Data
2.3.1 Key Data From Primary Sources
2.4 Market Size Estimation
2.5 Data Triangulation
2.5.1 Assumptions for the Study
3 Executive Summary
4 Premium Insights
4.1 Diagnostic Electrocardiograph Market Overview
4.2 Asia Pacific: Market Share, By End User & Country (2018)
5 Market Overview
5.2 Market Dynamics: Drivers, Opportunities, and Challenges
220.127.116.11 Rising Incidence of Lifestyle and Cardiovascular Diseases
18.104.22.168 Increasing Geriatric Population
22.214.171.124 Technological Advancements in Wireless Monitoring and Wearable Devices
126.96.36.199 Untapped Emerging Markets
188.8.131.52 Dearth of Skilled Professionals
184.108.40.206 Mergers, Acquisitions, and Joint Ventures
5.3 Diagnostic Electrocardiograph Market, By Lead Type (2019–2024)
5.4 Geographic Snapshot of the Market
6 Diagnostic Electrocardiograph Market, By Product & Service
6.3 Resting ECG Devices
6.3.1 Low Cost, Ease of Use, and Simplicity Have Driven the Adoption of Resting ECG Devices
6.4 Stress ECG Devices
6.4.1 The High Cost of These Devices is Negatively Impacting Market Growth
6.5 Implantable Loop Recorders
6.5.1 High Cost and Limited Applications are Hampering Market Growth
6.6 Mobile Cardiac Telemetry Devices
6.6.1 Increasing Demand for Cardiac Monitoring Solutions in Home Care Settings to Propel Market Growth
6.7 Event Monitors
6.7.1 Increasing Outsourcing of Monitoring Devices to Propel Market Growth
6.8 Holter Monitors
6.8.1 Short Duration of Monitoring is A Key Restraint to Market Growth
6.9 Smart ECG Monitors
6.9.1 Lack of Data Security is Hampering the Growth of This Segment
6.1 Software & Services
7 Diagnostic Electrocardiograph Market, By Lead Type
7.2 12-Lead ECG Devices
7.2.1 Use in Pre-Hospital and Clinic Settings has Driven the Adoption of 12-Lead ECG Devices
7.3 5-Lead ECG Devices
7.3.1 Use in Patient Monitoring Will Drive the Growth of the 5-Lead ECG Devices Market
7.4 3-Lead ECG Devices
7.4.1 Market Growth is Driven By Its Capabilities to Meet the Needs of Multiple Diagnostic Tests Simultaneously
7.5 6-Lead ECG Devices
7.5.1 6-Lead ECG Devices are Mainly Used in Remote Patient Monitoring
7.6 Single-Lead ECG Devices
7.6.1 Ease of Use for Diagnosis and Quick Results Have Increased the Use of Single-Lead ECG Devices
7.7 Other Lead Types
8 Diagnostic Electrocardiograph Market, By End User
8.2 Hospitals, Clinics, and Cardiac Centers
8.2.1 In 2018, the Hospitals, Clinics, and Cardiac Centers Segment Accounted for the Largest Share of the Market
8.3 Ambulatory Surgical Centers
8.3.1 The Ascs Segment to Grow at the Highest CAGR During the Forecast Period
8.4 Other End Users
9 Diagnostic Electrocardiograph Market, By Region
9.2 North America
220.127.116.11 Growing Number of Fda Approvals for Cm and ECG Devices to Support Market Growth in the US
18.104.22.168 Growing Focus of Government and Private Organizations on Providing Funding for Research Will Drive Market Growth
22.214.171.124 Germany Dominates the Diagnostic ECG Market in Europe
126.96.36.199 Rising Prevalence of Heart Failure Will Drive the Adoption of Diagnostic ECG Devices in France
188.8.131.52 Rising Demand for Home-Based Smart ECG Devices Will Support Market Growth
184.108.40.206 Rise in Individuals Suffering From Heart Diseases Will Increase the Use of Diagnostic ECG
220.127.116.11 Rising Geriatric Population Will Support Market Growth in Spain
9.3.6 Rest of Europe
9.4 Asia Pacific
18.104.22.168 High Healthcare Expenditure and Favorable Reimbursement and Insurance Coverage Will Support Market Growth in Japan
22.214.171.124 Government Support for Infrastructural Improvement Will Drive Market Growth
126.96.36.199 Government Initiatives Will Propel Market Growth in India
9.4.4 Rest of Asia Pacific
9.5 Rest of the World
10 Competitive Landscape
10.2 Market Share Analysis, 2018
10.3 Competitive Leadership Mapping (2019)
10.3.1 Vendor Inclusion Criteria
10.3.2 Visionary Leaders
10.3.4 Dynamic Differentiators
10.3.5 Emerging Companies
10.4 Diagnostic Electrocardiograph Market (Global) Competitive Leadership Mapping, 2019
10.5 Competitive Scenario
10.5.1 Collaborations, Agreements, and Partnerships (2016–2019)
10.5.2 Product Launches and Approvals (2016–2019)
10.5.3 Expansions (2016–2019)
10.5.4 Acquisitions and Mergers (2016–2019)
11 Company Profiles
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