The global ECG telemetry devices market size was valued at USD 3,667.45 million in 2020 and is projected to reach USD 2,087.66 million/billion by 2028, expanding at a CAGR of 7.8% during the forecast period, 2021–2028. The growth of the market is attributed to the number of people dying from cardiovascular illnesses is rising.
The electrical activity of the heart is monitored and recorded using ECG equipment. Electrical impulses generated by the polarization and depolarization of heart tissue are picked up by the ECG and converted into a wave shape. This aids in the diagnosis of cardiac problems as well as the measurement of chamber size and location by a physician or cardiologist.
According to the Centers for Disease Control and Prevention (CDC), heart disease claims the lives of roughly 630,000 Americans each year, accounting for one out of every four fatalities in the country. Technology is being used in both developing and developed countries to help with day-to-day tasks. As a result, the usage of home care monitoring systems has grown. People may conveniently track their health information at home thanks to such gadgets.
Market Trends, Drivers, Restraints, and Opportunities
- Increasing number of home care monitoring devices and service providers are expected to fuel market expansion during the forecast period.
- Growing life-threatening illnesses like cardiovascular problems and homecare monitoring devices are projected to boost the market growth in the coming years.
- High cost and drawbacks of ECG telemetry devices are anticipated to restrict the market growth.
- Wireless sensor networking advancements are estimated to create lucrative opportunities for the market players.
Scope of the Report
The report on the global ECG telemetry devices market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
Attributes
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Details
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Report Title
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ECG Telemetry Devices Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
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Base Year
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2020
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Historic Data
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2018–2019
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Forecast Period
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2021–2028
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Segmentation
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Applications (Arrhythmias, Myocardial Ischemia and Infarction, Pacemaker Monitoring, and Other Applications)
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Regional Scope
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Asia Pacific, North America, Latin America, Europe, and Middle East & Africa
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Report Coverage
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Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
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Key Players Covered in the Report
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Aerotel Medical Systems Ltd, BioTelemetry Inc., GE Healthcare (GE Company), Medtronic Inc., iRhythm Technologies Inc., Nihon Kohden Corporation, Philips Healthcare, Medicalgorithmics SA, Preventice Solutions Inc. and Hill-Rom Services Inc. (Welch Allyn)
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Market Segment Insights
Arrhythmias segment is projected to account for a major market share
In terms of applications, the ECG telemetry devices market is segregated into arrhythmias, myocardial ischemia and infarction, pacemaker monitoring, and other applications. The arrhythmias segment is expected to account for a key share of the market in the coming years due to the senior population growth in the next years, and because this demographic is more susceptible to cardiovascular disorders like arrhythmias, the market is likely to benefit.
Arrhythmia is a disorder in which the heartbeat becomes irregular. Electrical impulses are either too rapid or too sluggish, reducing the heart's ability to pump blood efficiently. ECG telemetry devices, on the other hand, are the most effective instruments for detecting arrhythmias. According to the World Ageing 2019 study, the world's population of people aged 65 and over was 703 million in 2019. In 2050, the senior population is expected to quadruple to 1.5 billion people. Furthermore, by 2050, one in every six individuals on the planet will be beyond the age of 65, up from one in every eleven people today. As the prevalence of arrhythmia is projected to grow, there will be greater demand for improved diagnostic methods. As a result, ECG telemetry devices are extremely important since they allow for quicker and faster cardiac monitoring.
North America is expected to dominate the market
On the basis of regions, the ECG telemetry devices market is categorized as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. The market of North America is anticipated to expand at an impressive CAGR during the forecast period. The regional market growth can be attributed to the growing numbers of people suffering from cardiovascular diseases.
Cardiovascular illnesses are the leading cause of mortality in the United States, as well as the most common reason for hospitalizations and medical visits. According to the Centers for Disease Control and Prevention (CDC), around 735,000 people in the United States have a heart attack each year. As a result, as the incidence of cardiovascular illnesses (CVDs) and heart attacks rises, so does the need for diagnostic services. Patients with cardiovascular illnesses in the United States have access to excellent reimbursement options. This aspect is assisting the market for ECG telemetry devices to flourish.
Segments
Segments Covered in the Report
The global ECG telemetry devices market has been segmented on the basis of
Applications
- Arrhythmias
- Myocardial Ischemia and Infarction
- Pacemaker Monitoring
- Other Applications
Regions
- Asia Pacific
- North America
- Latin America
- Europe
- Middle East & Africa
Key Players
- Aerotel Medical Systems Ltd
- BioTelemetry Inc.
- GE Healthcare (GE Company)
- Medtronic Inc.
- iRhythm Technologies Inc.
- Nihon Kohden Corporation
- Philips Healthcare
- Medicalgorithmics SA
- Preventice Solutions Inc.
- Hill-Rom Services Inc. (Welch Allyn)
Competitive Landscape
Key players competing in the ECG telemetry devices market include Aerotel Medical Systems Ltd, BioTelemetry Inc., GE Healthcare (GE Company), Medtronic Inc., iRhythm Technologies Inc., Nihon Kohden Corporation, Philips Healthcare, Medicalgorithmics SA, Preventice Solutions Inc. and Hill-Rom Services Inc. (Welch Allyn).
