(I-BusinessNews.Com, May 07, 2021 ) According to the new market research report ECG Market is expected to reach USD 10.3 billion by 2024 from USD 7.5 billion in 2019, at a CAGR of 6.4% during the forecast period.
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The scope of the report includes diagnostic ECG products and services used for the detection and treatment of heart activities and abnormal heart rhythm. The base year considered for the study is 2018, and the forecast period is from 2019 to 2024.
The hospitals, clinics, and cardiac centers segment accounted for the largest share of the diagnostic electrocardiograph (ECG) market in 2018
By end user, the market is classified into hospitals, clinics, and cardiac centers; ambulatory surgical centers; and other end users. In 2018, the hospitals, clinics, and cardiac centers segment accounted for the largest share of the market. The large share of this segment can primarily be attributed to the growing burden of cardiovascular diseases, which, in turn, is increasing the need for quality cardiology care.
The 3-lead ECG segment is expected to grow at the highest CAGR in the diagnostic ECG market during the forecast period
By lead type, the diagnostic ECG market is divided into 12-lead, 5-lead, 3-lead, 6-lead, single-lead, and other lead types (15- and 18-lead). The 3-lead segment is expected to grow at the highest CAGR during the forecast period. This positive growth is primarily due to the fact that these leads are used conjointly with various other cardiac diagnostic tests and during medical procedures.
The major players in the diagnostic ECG market include Koninklijke Philips (Netherlands), Nihon Kohden (Japan), Asahi Kasei (Japan), GE Healthcare (US), and Hill-Rom Holdings (US).
Recent Developments:
> In March 2018, Biotelemetry acquired Geneva Healthcare to strengthen its position in the remote cardiac monitoring devices market.
> In May 2018, GE Healthcare collaborated with Preventice Solutions (US) to extended GE’s ECG services into home settings, providing monitoring for ambulatory ECG patients.
> In March 2018, Philips Healthcare launched IntelliSpace Cardiovascular 3.1 under its cardiovascular product segment.
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North America accounted for the largest share of the diagnostic ECG market. The large share of this regional segment can be attributed to the increasing prevalence of CVD, high disposable income, the presence of advanced healthcare infrastructure, high demand for medical devices, and technological advancements.
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