The global ECG equipment and management systems market size is expected to reach USD 8.9 billion by 2027, based on a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 6.1% from 2020 to 2027. The growing prevalence of cardiac arrhythmia and technological advancements is expected to boost market growth during the forecast period.
Recent technologies in the market include ECG chip, which can be inserted in the body to record heart rhythms for a long duration; ECG data management solutions; and telemetry. Initiatives such as the Door-to-Balloon (D2B) time by the American College of Cardiology and “Mission: Lifeline” by AHA are expected to drive demand for wireless solutions and 12-lead ECG devices. Different technologies are being launched by players, either through innovation or partnerships. Some of these devices are HeartCheck ECG pen by CardioComm, online interface by emsCharts, and ZioPatch by iRhythm Technologies. For instance, in March 2020, Glanum Diagnostics developed a Holter ECG patch for the detection of arrhythmia, which records a patient’s heart data and timely transfers it to the virtual diagnostic center. The company’s plan is supported by EU funding under the HeartService project and CE certification is awaited.
The key players are engaging in new product launches to strengthen market presence. For instance, in July 2020, Philips launched Tempus ALS, a remote monitor, and a defibrillator solution for Emergency Medical Responders (EMS) in the U.S.
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ECG Equipment And Management Systems Market Report Highlights
- Resting ECG system dominated the type segment in 2019. The market growth is characterized by improved clinical accuracy due to new product launches, advanced data analysis tools, and several technological advancements for better care and accurate diagnosis
- North America held the largest revenue share in the market in 2019. This is owing to the rising incidence of Atrial Fibrillation (AFib) in the region, aging population, technological advancements, shifting patient preference toward ambulatory ECG monitoring, the launch of next-generation wireless ECG monitoring devices, and technological collaborations between manufacturers
- In Asia Pacific, the market is expected to grow fast during the forecast period. The growth can be attributed to the rapidly growing geriatric population coupled with an increasing incidence of CVDs, rising disposable income, and developing healthcare infrastructure
- The industry is also witnessing dynamic mergers, acquisitions, and partnership & collaboration agreements. For instance in April 2019, In July 2020, BioTelemetry, Inc. acquired On. Demand remote patient monitoring and coaching system from one of the subsidiaries of Centene Subsidiary—Envolve People Care, Inc. The acquisition helped the company broaden its portfolio of acute care connected health products and services
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ECG Equipment And Management Systems Market Segmentation
Grand View Research has segmented the global ECG equipment and management systems market based on type, end-use, and region:
ECG Equipment And Management Systems Type Outlook (Revenue, USD Million, 2016 – 2027)
- Holter Monitors
- Resting ECG System
- Stress ECG Monitors
- Event Monitoring Systems
- ECG Management Systems
ECG Equipment And Management Systems End-use Outlook (Revenue, USD Million, 2016 – 2027)
- Hospitals & Clinics
- Ambulatory Facilities
ECG Equipment And Management Systems Regional Outlook (Revenue, USD Million, 2016 – 2027)
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
- South Africa
List of Key Players of ECG Equipment And Management Systems Market
- GE Healthcare
- Nihon Kohden Corporation
- BioTelemetry, Inc.
- CompuMed, Inc.
- Schiller AG
- Mindray Medical
- Hill Rom
- Koninklijke Philips N.V.
- Spacelabs Healthcare
- McKesson Corporation
- Drägerwerk AG & Co. KGaA
- Mindray Bio-Medical Electronics Co., Ltd.
- Meditech Equipment Co., Ltd.
- CardioComm Solutions, Inc.
- Device Technologies
- Meditech Equipment Co., Ltd.
- ZOLL Medical Corporation
- Medical ECONET GmbH
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About Grand View Research
Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.
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