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ECG Devices Global Market Report 2021: COVID-19 Growth And Change

·4-min read

Major players in the ECG devices market are GE Healthcare, Koninklijke Philips N. V. , Spacelabs Healthcare, CardioNet Inc. , Schiller AG, Nihon Kohden Corporation, Medtronic PLC, OSI Systems, Mindray Medical International Limited, Hill-Rom Holdings Inc, BPL Medical Technologies, and Mortara Instrument Inc.

New York, Sept. 20, 2021 (GLOBE NEWSWIRE) -- announces the release of the report "ECG Devices Global Market Report 2021: COVID-19 Growth And Change" -

The global ECG devices market is expected to grow from $4.89 billion in 2020 to $5.43 billion in 2021 at a compound annual growth rate (CAGR) of 11.1%. The growth is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $7.26 billion in 2025 at a CAGR of 7.5%.

The ECG devices market consists of sales of ECG devices by entities (organizations, sole traders, and partnerships) that are used to record heart activities through electric signals and are amplified on the ECG monitor.The devices are used to diagnose various types of heart diseases and arrhythmias in a person’s body, therefore, assist the relevant therapy.

The market consists of revenue generated by the companies manufacturing the ECG devices.

The main types of products in the ECG devices market are monitoring ECG systems and diagnostic ECG systems.Monitoring ECG systems record the electrical signal of the heart to check for different heart conditions.

The different lead types include single-lead ECG, 3-6 lead ECG, 12-Lead ECG and uses different technologies such as portable ECG systems, wireless ECG systems. It is implemented in various sectors such as hospitals, home care settings, and others.

North America was the largest region in the ECG devices market in 2020.Asia Pacific is expected to be the fastest-growing region in the forecast period.

The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

The launch of advanced ECG devices is shaping the ECG devices market.Major companies operating in the ECG devices sector are focused on developing technological solutions for ECG devices to strengthen their position.

For instance, in September 2020, AliveCor, a US FDA-cleared personal electrocardiogram (ECG) technology company launched a clinically validated personal ECG device based on KardiaMobile 6L technology.In just 30 seconds, individuals can record a medical-grade ECG using this device.

It is small enough to slip into a pocket. Users can use their smartphones to monitor their heartbeats.

In December 2020, Philips, a Europe-based health technology company acquired BioTelemetry for $2.8 billion (approx. EUR 2.3 billion). The acquisition of BioTelemetry fits well with Philips’ cardiac care portfolio and its strategy to transform care delivery across the health continuum with integrated solutions. BioTelemetry, Inc is a U.S.-based company that provides heart monitoring devices.

The increasing incidence of cardiovascular diseases is expected to boost the demand for the ECG devices market over the coming years.Cardiovascular disease is one of the most common of all health problems and the leading cause of death globally.

To check for various cardiac diseases, an electrocardiogram (ECG or EKG) measures the electrical signal from the heart.Electrodes are set on the chest to record the electrical signals sent by the heart, which cause it to beat.

According to the Centers for Disease Control and Prevention, heart disease is the major cause of death in the USA, accounting for almost 647,000 deaths per year. Moreover, according to the American Heart Association, 2019, around 121.5 million adults in the USA have some form of cardiovascular disease. Thus, increasing cardiovascular diseases such as hypertensive heart disease, stroke, peripheral artery diseases, and ischemic heart disease (IHD) drives the growth of the ECG devices market.

The countries covered in the ECG devices market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
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