Diagnostic Electrocardiography Devices Market

Diagnostic Electrocardiography Devices Market by Product Types (Holter Monitor System, Stress ECG, Resting ECG, 3-6 Lead, Single-Lead, and 12 Lead), End-users (Hospitals, Ambulatory Care, and Research & Diagnostic Centers), and Regions (Asia Pacific, North America, Latin America, Europe, and Middle East & Africa) - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2021 – 2028

  • Report ID: HC-967
  • Author: Growth Market Reports
  • Rating: 4.8
  • Total Reviews: 2
  • No. Of Pages: 187
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The global diagnostic electrocardiography devices market size is projected to register a significant CAGR during the forecast period, 2021–2028. The growth of the market is attributed to the increasing cardiovascular disease prevalence, combined with an increasing geriatric population base.
 

Diagnostic Electrocardiography Devices Market Key Takeaways


A diagnostic electrocardiograph (ECG) is a medical device that aids in the diagnosis of heart-related electrical activity problems. Several cardiac indications including myocardial infarction, heart murmur, cardiac stress testing, and fainting are conducted using electrocardiograph. The need for diagnostic innovation to predict disease progression effectively and accurately, which are expected to bring positive impact on the diagnostic electrocardiography device market. One of the key advantages of ECG over other diagnostics aids such as photoplethysmography (PPG), the former devices provide more accuracy, offer direct electric signaling of heart activity, and effective monitoring of heart rate variability at low power consumption.

To be precise, electrocardiography is a non-invasive medical approach that focuses on capturing the electrical activity of the heart pulse over time. Every heartbeat generates an electrical impulse, which is recorded using electrodes placed on a patient's body. The electrodes detect the minute electrical changes on the skin caused by the depolarization of the heart muscle during each heartbeat.

Market Trends, Drivers, Restraints, and Opportunities

  • Increasing profusion of cardiovascular diseases linked with rising geriatric population base are expected to boost the market growth during the forecast period.
  • Growing prevalence of other chronic illness such as diabetes, obesity, hypertension, coronary diseases, and cholesterol coupled disorders such as hyperlipidaemia are estimated to drive the market growth during the forecast period.
  • Rapid development of new hospitals and diagnostic clinics specialized in heart-related issues and health problems especially in the developing regions are key factors propelling the market growth.
  • Lack of skilled specialists and technicians handling the devices is expected to pose a challenge that can hamper the market growth during the forecast period.
  • Technological advancement and ongoing R&D activities to develop advanced devices for diagnostics are creating several opportunities for the market expansion.

Scope of the Report

The report on the global diagnostic electrocardiography devices market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.

Attributes

Details

Report Title

Diagnostic Electrocardiography Devices Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast

Base Year

2020

Historic Data

2018–2019

Forecast Period

2021–2028

Segmentation

Product Types (Holter Monitor System, Stress ECG, Resting ECG, 3-6 Lead, Single-Lead, and 12 Lead) and End-users (Hospitals, Ambulatory Care, and Research & Diagnostic Centers)

Regional Scope

Asia Pacific, North America, Latin America, Europe, and Middle East & Africa

Report Coverage

Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast

Key Players Covered in the Report

Philips Healthcare; GE Healthcare; Mortara Instrument Inc.; Mindray Medical; Schiller AG; Spacelabs Healthcare; Cardionet; Welch Allyn; and Nihon Kohden Corporation.

 

Market Segment Insights

Holter monitor system segment is projected to account for a key market share
Based on product types, the diagnostic electrocardiography devices market is segmented into holter monitor system, stress ECG, resting ECG, 3-6 lead, single-lead, and 12 lead. The holter monitor system segment is expected to account for a key share of the market during the forecast period. The segment growth can be attributed to several factors such as portable diagnosis and constant monitoring of physiological state of the heart, which aid the physician in producing an accurate portrait of heart functioning. However, the 3-6 lead segment is anticipated to expand at a rapid pace during the forecast period owing to the factors such as non-redundant results and presence of limited number of leads. On the other hand, the stress ECG segment is anticipated to grow rapidly in the coming years due to the physicians' high preference and its superior performance in assessing the heart's response to exercise or stress.

Hospital segment is expected to grow at a rapid pace
In terms of end-users, the diagnostic electrocardiography devices market is divided into hospitals, ambulatory care, and research & diagnostic centers. The hospital segment is expected to account for a key share of the market during the forecast period due to the disproportionately large number of patients are being admitted to hospital for diagnostic and surgical services aiming at monitoring heart function.
 

Diagnostic Electrocardiography Devices Market By End Users


North America is anticipated to dominate the market
On the basis of regions, the diagnostic electrocardiography devices market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. North America is anticipated to dominate the market during the forecast period. The regional market growth can be attributed to the increasing number of patients suffering from heart diseases due to unhealthy lifestyle choices such as smoking, drinking, work stress, and high lipid intake. Moreover, increased prevalence of cardiovascular diseases, rising disposable income, and sophisticated healthcare infrastructure is a key factor boosting the regional market growth. Other factors driving the market growth in North America include the adoption of computerization for the maintenance of electrocardiogram records and increasing investments in data management systems for data access in order to perform a comparative analysis of overall patient data. However, the market in Asia Pacific is expected to exhibit a rapid growth rate in the coming years due to the prevalence of significant unmet medical needs among individuals and rapidly expanding healthcare infrastructure.
 

Diagnostic Electrocardiography Devices Market By Regions

1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Diagnostic Electrocardiography Devices Market Overview
  4.1. Introduction
     4.1.1. Market Taxonomy
     4.1.2. Market Definition
  4.2. Macro-Economic Factors
     4.2.1. Industry Outlook
  4.3. Diagnostic Electrocardiography Devices Market Dynamics
     4.3.1. Market Drivers
     4.3.2. Market Restraints
     4.3.3. Opportunity
     4.3.4. Market Trends
  4.4. Diagnostic Electrocardiography Devices Market - Supply Chain
  4.5. Global Diagnostic Electrocardiography Devices Market Forecast
     4.5.1. Diagnostic Electrocardiography Devices Market Size (US$ Mn) and Y-o-Y Growth
     4.5.2. Diagnostic Electrocardiography Devices Market Size (000’ Units) and Y-o-Y Growth
     4.5.3. Diagnostic Electrocardiography Devices Market Absolute $ Opportunity
5. Global Diagnostic Electrocardiography Devices Market Analysis and Forecast by Region
  5.1. Market Trends
  5.2. Introduction
     5.2.1. Basis Point Share (BPS) Analysis by Region
     5.2.2. Y-o-Y Growth Projections by Region
  5.3. Diagnostic Electrocardiography Devices Market Size and Volume Forecast by Region
     5.3.1. North America
     5.3.2. Latin America
     5.3.3. Europe
     5.3.4. Asia Pacific
     5.3.5. Middle East and Africa (MEA)
  5.4. Absolute $ Opportunity Assessment by Region
  5.5. Market Attractiveness/Growth Potential Analysis by Region
  5.6. Global Diagnostic Electrocardiography Devices Demand Share Forecast, 2019-2026
6. North America Diagnostic Electrocardiography Devices Market Analysis and Forecast
  6.1. Introduction
     6.1.1. Basis Point Share (BPS) Analysis by Country
     6.1.2. Y-o-Y Growth Projections by Country
  6.2. North America Diagnostic Electrocardiography Devices Market Size and Volume Forecast by Country
     6.2.1. U.S.
     6.2.2. Canada
  6.3. Absolute $ Opportunity Assessment by Country
  6.4. Market Attractiveness/Growth Potential Analysis
     6.4.1. By Country
     6.4.2. By Product Type
     6.4.3. By Application
  6.5. North America Diagnostic Electrocardiography Devices Demand Share Forecast, 2019-2026
7. Latin America Diagnostic Electrocardiography Devices Market Analysis and Forecast
  7.1. Introduction
     7.1.1. Basis Point Share (BPS) Analysis by Country
     7.1.2. Y-o-Y Growth Projections by Country
     7.1.3. Latin America Average Pricing Analysis
  7.2. Latin America Diagnostic Electrocardiography Devices Market Size and Volume Forecast by Country
      7.2.1. Brazil
      7.2.2. Mexico
      7.2.3. Rest of Latin America
   7.3. Absolute $ Opportunity Assessment by Country
  7.4. Market Attractiveness/Growth Potential Analysis
     7.4.1. By Country
     7.4.2. By Product Type
     7.4.3. By Application
  7.5. Latin America Diagnostic Electrocardiography Devices Demand Share Forecast, 2019-2026
8. Europe Diagnostic Electrocardiography Devices Market Analysis and Forecast
  8.1. Introduction
     8.1.1. Basis Point Share (BPS) Analysis by Country
     8.1.2. Y-o-Y Growth Projections by Country
     8.1.3. Europe Average Pricing Analysis
  8.2. Europe Diagnostic Electrocardiography Devices Market Size and Volume Forecast by Country
     8.2.1. Germany
     8.2.2. France
     8.2.3. Italy
     8.2.4. U.K.
     8.2.5. Spain
     8.2.6. Russia
     8.2.7. Rest of Europe
  8.3. Absolute $ Opportunity Assessment by Country
  8.4. Market Attractiveness/Growth Potential Analysis
     8.4.1. By Country
     8.4.2. By Product Type
     8.4.3. By Application
  8.5. Europe Diagnostic Electrocardiography Devices Demand Share Forecast, 2019-2026
9. Asia Pacific Diagnostic Electrocardiography Devices Market Analysis and Forecast
  9.1. Introduction
     9.1.1. Basis Point Share (BPS) Analysis by Country
     9.1.2. Y-o-Y Growth Projections by Country
     9.1.3. Asia Pacific Average Pricing Analysis
  9.2. Asia Pacific Diagnostic Electrocardiography Devices Market Size and Volume Forecast by Country
     9.2.1. China
     9.2.2. Japan
     9.2.3. South Korea
     9.2.4. India
     9.2.5. Australia
     9.2.6. Rest of Asia Pacific (APAC)
  9.3. Absolute $ Opportunity Assessment by Country
  9.4. Market Attractiveness/Growth Potential Analysis
     9.4.1. By Country
     9.4.2. By Product Type
     9.4.3. By Application
  9.5. Asia Pacific Diagnostic Electrocardiography Devices Demand Share Forecast, 2019-2026
10. Middle East & Africa Diagnostic Electrocardiography Devices Market Analysis and Forecast
  10.1. Introduction
     10.1.1. Basis Point Share (BPS) Analysis by Country
     10.1.2. Y-o-Y Growth Projections by Country
     10.1.3. Middle East & Africa Average Pricing Analysis
  10.2. Middle East & Africa Diagnostic Electrocardiography Devices Market Size and Volume Forecast by Country
     10.2.1. Saudi Arabia
     10.2.2. South Africa
     10.2.3. UAE
     10.2.4. Rest of Middle East & Africa (MEA)
  10.3. Absolute $ Opportunity Assessment by Country
  10.4. Market Attractiveness/Growth Potential Analysis
     10.4.1. By Country
     10.4.2. By Product Type
     10.4.3. By Application
  10.5. Middle East & Africa Diagnostic Electrocardiography Devices Demand Share Forecast, 2019-2026
11. Competition Landscape
  11.1. Global Diagnostic Electrocardiography Devices Market: Market Share Analysis
  11.2. Diagnostic Electrocardiography Devices Distributors and Customers
  11.3. Diagnostic Electrocardiography Devices Market: Competitive Dashboard
  11.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
     11.4.1. Philips Healthcare
     11.4.2. GE Healthcare
     11.4.3. Mortara Instrument Inc.
     11.4.4. Mindray Medical
     11.4.5. Schiller AG
     11.4.6. Spacelabs Healthcare
     11.4.7. Cardionet
     11.4.8. Welch Allyn
     11.4.9. Nihon Kohden Corporation

Segments Covered in the Report
The global diagnostic electrocardiography devices market has been segmented on the basis of

Product Types

  • Holter Monitor System
  • Stress ECG
  • Resting ECG
  • 3-6 Lead
  • Single-Lead
  • 12 Lead

End-users

  • Hospitals
  • Ambulatory Care
  • Research & Diagnostic Centers

Regions

  • Asia Pacific
  • North America
  • Latin America
  • Europe
  • Middle East & Africa

Key Players

  • Philips Healthcare
  • GE Healthcare
  • Mortara Instrument Inc.
  • Mindray Medical
  • Schiller AG
  • Spacelabs Healthcare
  • Cardionet
  • Welch Allyn
  • Nihon Kohden Corporation

 

Key players competing in the diagnostic electrocardiography devices market include Philips Healthcare; GE Healthcare; Mortara Instrument Inc.; Mindray Medical; Schiller AG; Spacelabs Healthcare; Cardionet; Welch Allyn; and Nihon Kohden Corporation.

These players are widely adopting market strategies including maintaining a large product portfolio with diverse characteristics and principles, personnel training, and after-sales service efficiency. To expand their product portfolio, these companies are incorporating new features into their products. Companies are also involved in the development of wireless technologies that are well integrated into hospitals as well as software systems that can streamline clinicians' work by providing patients with updated treatment plan options.
 

Diagnostic Electrocardiography Devices Market By key Players

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