The global electrocardiograph (ECG) market size reached US$ 9.3 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 12.8 Billion by 2028, exhibiting a growth rate (CAGR) of 5.21% during 2023-2028.
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.
Electrocardiograph (ECG) Market Trends:
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.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global electrocardiograph (ECG)market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on product, lead type and end user.
Breakup by Product:
Resting Electrocardiograph (ECG)
Stress Electrocardiograph (ECG)
Breakup by Lead Type:
Single Lead ECG
2 Lead ECG
3 Lead ECG
6 Lead ECG
12 Lead ECG
Breakup by End User:
Hospitals and Clinics
Home Settings and Ambulatory Surgical Centers (ASCs)
Breakup by Region:
Middle East and Africa
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.
Base Year of the Analysis
Product, Lead Type, End User, Region
Asia Pacific, Europe, North America, Latin America, Middle East and Africa
United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
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.
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Key Questions Answered in This Report
The global Electrocardiograph (ECG) market was valued at US$ 9.3 Billion in 2022.
We expect the global Electrocardiograph (ECG) market to exhibit a CAGR of 5.21% during 2023-2028.
The rising prevalence of cardiovascular diseases, along with the introduction of portable ECG systems with a single lead, is primarily driving the global Electrocardiograph (ECG) market.
The sudden outbreak of the COVID-19 pandemic had led to the postponement of numerous elective treatment procedures for cardiological ailments to reduce the risk of the coronavirus infection upon hospital visits or interaction with medical equipment, thereby negatively impacting the global market for Electrocardiograph (ECG).
Based on the product, the global Electrocardiograph (ECG) market can be divided into resting Electrocardiograph (ECG), stress Electrocardiograph (ECG), holter monitors, and others. Currently, resting Electrocardiograph (ECG) accounts for the majority of the global market share.
Based on the lead type, the global Electrocardiograph (ECG) market has been segregated into single lead ECG, 2 lead ECG, 3 lead ECG, 6 lead ECG, and 12 lead ECG. Among these, 6 lead ECG currently exhibits clear dominance in the market.
Based on the end user, the global Electrocardiograph (ECG) market can be bifurcated into hospitals and clinics, home settings and Ambulatory Surgical Centers (ASCs), and others. Currently, hospitals and clinics hold the largest market share.
On a regional level, the market has been classified into North America, Asia-Pacific, Europe, Latin America, and Middle East and Africa, where North America currently dominates the global market.
Some of the major players in the global Electrocardiograph (ECG) market include 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.
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