The global electrocardiogram equipment market size was significantly robust in 2022 and is expected to register a steady revenue CAGR over the forecast period. Market revenue growth is driven by factors such as rising adoption by medical professionals, improved healthcare infrastructure, rising incidence of heart attacks globally, technological advancements, and rising investment in research and development by companies to introduce innovative equipment.
An electrocardiogram equipment monitors electrical signals of the heart and is used to detect various heart problems and efficiently monitor health of heart. Electrodes are placed on patient’s chest to capture electrical signals from heart. On a linked computer monitor, the signal appears as waves and the ECG monitoring systems can detect 133 types of rhythms that would otherwise go undiagnosed, allowing doctors to deliver best possible care for patients. Pacemaker detection is also included as a standard function and the electrocardiogram equipment guarantees that patient\’s pacemaker is functioning properly and communicating efficiently with the heart.
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Drivers:
Rising cases of cardiovascular diseases, presence of ageing population, technological advancements, and new product introductions by key players for clear, rapid, safe, and trustworthy outcomes are some key factors driving global electrocardiogram equipment market revenue growth over the forecast period. There are no serious hazards associated with EGG examinations because they are noninvasive and painless and advantages of electrocardiogram equipment over other equipment such as checking rhythm and axis of patient’s heart as well as accurate detection of hidden cardiac conditions are other factors positively contributing to market growth going ahead.
Restraints:
Mild skin irritation and high costs are some key factors expected to restrain global electrocardiogram equipment market revenue growth to some extent over the forecast period. Furthermore, rising healthcare costs and increase in number of false test result cases are expected to cause a slow-down in market growth.
Geographical Overview:
Based on regional analysis, North America electrocardiogram equipment market accounted for largest revenue share in 2020, and the trend is expected to continue during the forecast period. This is due to presence of large number of hospitals and clinics in countries such as the United States, improved healthcare infrastructure, presence of ageing population, and rising investment in R&D to introduce innovative electrocardiogram equipment.
Asia Pacific electrocardiogram equipment market is expected to register a robust revenue CAGR over the forecast period. This is attributed to availability of quality medical schools, presence of population in countries such as India and China, and advanced healthcare facilities. In addition, rising cases of hypertension, type 2 diabetes, and obesity, all of which are important risk factors for heart disease, are driving demand for electrocardiogram equipment in the region.
Competitive Landscape:
Key companies in global electrocardiogram equipment market include GE Healthcare, Philips, Biotelemetry, Suzuken, Fukuda Denshi, Hill-Rom, NIHON KOHDEN, Mindray Medical, Spacelabs Healthcare, Schiller AG, Innomed, and EDAN.
Report Coverage
Report scope:
For the purpose of this report,has segmented the global electrocardiogram equipment market on the basis of type, application, and region:
Type Outlook (Revenue, USD Billion; 2023-2032)
- Resting ECG System
- Holter Monitors
- Stress ECG Monitors
- Event Monitors
Application Outlook (Revenue, USD Billion; 2023-2032)
- Hospitals
- Ambulatory Care
- Others
Regional Outlook (Revenue, USD Billion; 2023-2032)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- U.K.
- Italy
- France
- BENELUX
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- U.A.E.
- Israel
- South Africa
- Rest of MEA
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