Global Diagnostic Electrocardiograph Market

Diagnostic Electrocardiograph Market Size, Share, Growth Analysis, By Product(Resting ECG Services, Stress ECG Services, Holter Monitors, others), By End-User(Hospitals, Clinics, Cardiac Centers, Others), By Lead Type(12-Lead, 5-Lead, 3-Lead, others), By Region - Industry Forecast 2024-2031

Report ID: SQMIG35A2621 | Region: Global | Published Date: February, 2024
Pages: 270 | Tables: 93 | Figures: 76

Diagnostic Electrocardiograph Market Regional Insights

Globally, North America dominated the diagnostic electrocardiograph market and accounted for a significant market share and is projected to maintain its dominance throughout the forecast period. Growing frequency of cardiovascular diseases and early adoption of advanced technologies are the key major factors expected to drive the growth of the market in the region. According to the American Heart Association, around 82.6 million Americans have one or more types of cardiovascular diseases, and nearly 659,000 Americans die from these diseases every year.

Furthermore, Asia Pacific is witnessing fastest CAGR during the forecast period due to the rising geriatric population, increased urbanization, and growing consumer disposable income in the region. Moreover, rising adoption of latest devices and several government initiatives towards the development of healthcare infrastructure mainly in the developing countries including China, India, and Indonesia are few other factors propelling the growth of the ECG market in the region over the coming years. For instance, according to an NCBI report, over 290 million people are suffering from cardiovascular diseases in China and nearly 13 million Chinese have suffered from a stroke.

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Diagnostic Electrocardiograph Market size was valued at USD 5.39 billion in 2019 and is poised to grow from USD 5.69 billion in 2023 to USD 8.79 billion by 2031, growing at a CAGR of 5.58% in the forecast period (2024-2031).

The diagnostic electrocardiograph (ECG) market is fairly fragmented in nature due to the presence of several key market players operating all around the globe. Major key players of the market are shifting their focus on various business developing strategies like acquisitions, mergers, collaboration, new technology development, and rising R&D activities for the expansion of their geographical presence and product portfolio. 'GE Healthcare', 'Philips Healthcare', 'Nihon Kohden Corporation', 'Schiller AG', 'Fukuda Denshi Co. Ltd.', 'Mindray Medical International Limited', 'Mortara Instrument, Inc.', 'Welch Allyn, Inc.', 'Spacelabs Healthcare, Inc.', 'Compumed, Inc.', 'CardioNet, Inc.', 'BPL Medical Technologies', 'Cardionet, Inc.', 'Mennen Medical Ltd.', 'Midmark Corporation', 'Nasiff Associates, Inc.', 'QRS Diagnostic', 'ScottCare Corporation', 'SunTech Medical, Inc.', 'Suzuken Co. Ltd.'

High growth in geriatric population along with an increasing risk for the development of various cardiovascular diseases and growing consumer awareness towards availability of several non-invasive techniques are key factors expected to drive the growth of the diagnostic electrocardiograph (ECG) market during the forecast period.

A new and advanced generation of completely portable and compact Holter ECGs around the globe has been resulting the higher adoption of these devices, mainly in the home healthcare segment. The various advantages of the Holter ECGs and its high accessibility is creating lucrative growth opportunities for the market. Furthermore, rising number of collaborations among manufacturer companies of the Holter ECGs is also contributing significantly to the growth of the market over the last few years.

Globally, North America dominated the diagnostic electrocardiograph market and accounted for a significant market share and is projected to maintain its dominance throughout the forecast period. Growing frequency of cardiovascular diseases and early adoption of advanced technologies are the key major factors expected to drive the growth of the market in the region. According to the American Heart Association, around 82.6 million Americans have one or more types of cardiovascular diseases, and nearly 659,000 Americans die from these diseases every year.

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Global Diagnostic Electrocardiograph Market

Report ID: SQMIG35A2621

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