Electrocardiograph (ECG) devices are used to record the heart activities through electric signals and are amplified on the ECG monitor. ECG devices are essentially adopted across various medical set ups to diagnose different types of heart diseases and arrhythmias in people, thereby assisting the appropriate therapy for cardiovascular diseases (CVD) patients. The key factors that drive the market growth include increase in number of CVD patients across the globe and rise in demand for portable diagnostic as well monitoring systems. In addition, increase in old age population globally, and favorable government regulations regarding the ECG devices supplement the market growth. The global ECG market was valued at $4,516 million in 2016, and is expected to reach $6,637 million by 2023, registering a CAGR of 5.6% from 2017 to 2023.
The global ECG market is segmented on the basis of product, lead type, end user, and region. Based on product, the market is divided into resting ECG, stress ECG, and holter monitors (wired and wireless holter monitors). Based on lead type, the market is classified into single lead, 3-6 lead, and 12-lead. Based on end user, it is categorized into hospitals & clinics, home settings & ambulatory surgical centers (ASCs), and others. The holter monitor segment is growing at a fast pace, registering a CAGR of 9.1% from 2017 to 2023. In addition, ECG devices are highly incorporated in the hospitals & clinics, and has generated the highest revenue in this segment throughout the forecast period.
By geography, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. In the recent years, Asia-Pacific has witnessed rapid growth in the ECG market. India and China are the major contributors to the robust growth of Asia-Pacific ECG market owing to their high population density along with increase in healthcare expenditure.
KEY BENEFITS FOR STAKEHOLDERS
KEY MARKET SEGMENTS
By Lead Type
By End User
KEY MARKET PLAYERS
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