Diagnostic Electrocardiograph (ECG) Market Analysis & Forecast, 2020 – 2025

The global diagnostic electrocardiograph market generated revenue of US$ 8.0 billion in 2020 and is expected to reach US$ 10.9 billion by 2025 with a CAGR of 6.5% in the forecast period. An increase in the number of patients suffering from various cardiovascular diseases globally, a surge in investments made in the medical sector, and technological advancements in the field of cardiology is proven to be major drivers of the diagnostic electrocardiograph (ECG) market.  The diagnostic electrocardiograph (ECG) market report offers a comprehensive market analysis of the different segments and regions that lets readers make crucial business-related decisions with a wealth of information enclosed in this report. The research report offers both qualitative and quantitative information on the global diagnostic electrocardiograph (ECG) market. In qualitative terms, the diagnostic electrocardiograph (ECG) market report provides insights into numerous factors, such as market determinants, value chain analysis, emerging trends, growth opportunity analysis, porters five-force model analysis and macro-economic factors, segment analysis, regional analysis at a granular level. Similarly, in quantitative terms, the report provides historical and forecast market numbers of diagnostic electrocardiographs (ECG) in various segments such as by-product, lead type & end-user at global, regional, and country-level. Also, the report provides a detailed analysis of the market vendors and their product offerings. The report also covers details of the competitive market environment and includes information on the capabilities and competencies of market vendors.

Segment Analysis

• Resting the ECG segment accounts for the dominating position in the market.  
  • Based on products, the diagnostic electrocardiograph (ECG) market is segmented into Event Monitors, Holter Monitors, Implantable Loop Recorders, MCT Devices, Resting ECG Devices, Smart ECG Monitors, Stress ECG Devices. The resting ECG segment holds the dominating position in the market in 2020 and is expected to retain its dominance throughout the forecast period. The implantable loop recorder (ILR) segment is expected to grow with the highest CAGR in the forecast period. Due to the ability of an implantable loop recorder, to perform quick and detailed diagnosis, its market is growing at a very steady rate and this, in turn, is benefiting the growth of the diagnostic electrocardiograph (ECG) market.
• 3-lead type is expected to grow with the highest CAGR in the forecast period. 
  • Based on the lead type, the diagnostic electrocardiograph (ECG) market is segmented into the single lead, 3-lead, 5-lead, 6-lead, and 12-lead. 3-lead holds a dominant market position in 2020 and they are expected to grow with the highest CAGR during the forecast period. 3-lead system is highly efficient in conducting cardiac diagnostic tests and telemetry monitoring. Thus this has fueled the demand for 3-lead in the market.
• North America accounts for the dominating position in the market. 
  • Based on the region, the diagnostic electrocardiograph (ECG) market is segmented into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. North America is expected to contribute to the larger market share in 2020. The United States and Canada are the largest market-driven countries in this region. Increasing investments in the medical sector, to provide technologically advanced treatment to patients with various kinds of cardiovascular problems, is the main factor driving the growth of diagnostic electrocardiograph (ECG) in North American. Moreover, Asia Pacific is projected to rise at the fastest CAGR in the forecast period. China, India, and Japan are some of the major market-driven countries in this region. An increasing number of cases with chronic diseases such as diabetes and cancer, increasing spending on medical treatments, and enhanced awareness among peoples to get technologically advanced treatments are driving the growth of diagnostic cardiograph (ECG) in Asia-Pacific.
• Diagnostic Electrocardiograph (ECG) Market Players: 
  • Some of the major players in the Diagnostic Electrocardiograph (ECG) market are as follows:
    • ACS Diagnostics
    • Allengers Medical Systems, LTD.
    • Ambu A/S
    • Biotelemetry, Inc.
    • BPL Technologies
    • BTL
    • Edan Instruments, Inc.
    • FUKUDA DENSHI
    • GE Healthcare
    • Hill-Rom Holdings, Inc.
    • Koninklijke Philips N.V.
    • Nihon Kohden Corporation
    • OSI Systems, Inc.
    • Schiller AG
    • Shenzhen Mindray Bio-Medical Electronics Co., Ltd.
  • The study also focuses on different business or inorganic market growth strategies through technology advancement, business expansion, alliances, and mergers and acquisitions to create disruptive technologies and consumer networks. 
• Key questions the report answers 
  • Which factors will contribute to a change in the demand for Diagnostic Electrocardiograph (ECG) during the evaluation phase?
  • What are the major driving factors that accelerate the growth of the market?
  • What are the restraints which hinder the growth of the market?
  • What segment offers the most development opportunities?
  • Which region provides the key growth opportunity to the market?
  • Who are the major industry players?
  • What are the key strategies adopted by the market players?