The ECG telemetry device market in North America is expected to grow from US$ 1,185. 3 million in 2021 to US$ 2,075. 2 million by 2028; it is estimated to grow at a CAGR of 8. 3% 2021-2028. Although the incidence of CVDs is encompassing people of all age groups, it is rising significantly among elderly people.
New York, Aug. 30, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "North America ECG Telemetry Device Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Product ; End User" - https://www.reportlinker.com/p06103257/?utm_source=GNW
According to the Global Ageing 2019 survey, the world’s population of people aged 65 and above totaled 703 million in 2019. The elderly demographic is expected to double to 1.5 billion people by 2050. The frequency of one people with age 65 or more is likely to increase from 1 in every 11 inhabitants in 2019 to 1 in every 6 inhabitants by 2025. This demographic is more susceptible to CVDs such as arrhythmias. Similarly, according to the WHO, the percentage of people of age 60 and above is estimated to reach 22% by 2050 from 12% in 2015. According to the report “Older Americans 2016: Key Indicators of Well-Being” by the Federal Interagency Forum on Aging-Related Statistics, 35.8% of individuals with age 85 and above had a mild or extreme cognitive disorder. Therefore, the rise in prevalence of various diseases among geriatric populations is adding to the demand for ECG telemetry devices.
The North America ECG telemetry device market is bifurcated on the bases of product and end user.Based on product, the ECG telemetry devices market is segmented into resting ECG devices, stress ECG devices, and others.
The resting ECG devices segment accounted for the largest share of the market in 2020, and the market for the same segment is expected to grow fastest during the forecast period.The resting ECG device helps measure the electrical activity of a heart with no extra preparation required, and it takes about 5 minutes to perform.
It is the most simple, quick, and painless test.The device can also help in detecting heart conditions such as hypertrophy of the heart, myocardial infarction, ischemia, sequelae of myocardial infarction, and cardiac arrhythmias.
Additionally, resting ECG is used as secure and connected workflows to provide accurate solutions that help to reduce complexity and shorten the path to diagnosis. Therefore, the North America ECG telemetry device market for the resting ECG devices segment is witnessing significant growth.
As the COVID-19 pandemic continues to unfold, medical device companies are finding difficulties in managing their operations.Many companies offering products for cardiac monitoring have their business operations in the US, which are adversely affected by the effects of the outbreak.
The crisis is disrupting and restricting company’s ability to distribute products.Also, the facilities of suppliers/customers are temporary closed.
Moreover, market players have witnessed disruption in their business operations since March 2020, as the US healthcare authorities framed policies about elective cardiac surgeries.Also, to free-up limited space for people being treated for the COVID-19, hospitals have postponed or cancelled.
However, the demand for vital sign monitoring devices in North America had substantial impact on the adoption of ECG telemetry. Though, there was disruption in distribution, demand for such products drives the North America ECG telemetry devices market growth.
The overall North America ECG telemetry device market size has been derived using both primary and secondary sources.To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market.
The process also serves the purpose of obtaining an overview and forecast for the North America ECG telemetry device market with respect to all the segments pertaining to the region.Also, multiple primary interviews have been conducted with industry participants and commentators to validate the data, as well as to gain more analytical insights into the topic.
The participants of this process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers, along with external consultants such as valuation experts, research analysts, and key opinion leaders, specializing in the North America ECG telemetry device market. Cardiac Science Corporation, CompuMed Inc., GE Healthcare Inc., Medtronic Inc., Mindray Medical International Ltd., Nihon Kohden Corporation, Philips Healthcare, ScottCare Corporation, Dragger, and Welch Allyn Inc are among the players operating in the market.
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