DUBLIN--(BUSINESS WIRE)--The "ECG Equipment and Management Systems Market Size, Share & Trends Analysis Report By Type (Holter, Stress, Resting ECG), By End Use (Hospitals & Clinics, Ambulatory Facilities), And Segment Forecasts, 2019 - 2025" report has been added to ResearchAndMarkets.com's offering.
The global ECG equipment and management systems market size was valued at USD 5.12 billion in 2018 and is estimated to expand at a CAGR of around 6% over the forecast period.
The global rise in geriatric population coupled with the prevalence of cardiac problems, such as heart arrhythmia, ischemic heart disease, heart attack, and heart rhythm disorders is anticipated to drive the growth.
Furthermore, favorable regulatory policies, technological advancements in the field, and increasing investment by key players for early detection of cardiovascular diseases are likely to drive the market. For instance, in 2014, GE Healthcare introduced a newer version of Muse ECG management system that allows interoperability with non-GE ECG systems. This new version improved asset management and care collaboration.
According to the American Heart Association (AHA), cardiovascular disease is a leading cause of death taking a toll of 17.3 million deaths per year. This number is expected to grow to more than 23.6 million by 2030. Rising awareness regarding early diagnosis is expected to propel the demand for these devices over the forecast period.
Technological advancements, government initiatives, geographical expansions, and commercialization of new products, are likely to boost the market in the forthcoming years. For instance, the National Health Service (NHS) England took the initiative to provide national reimbursement to the people across England using AliveCor device for treating conditions such as heart disease and diabetes.
Resting ECG led the ECG equipment and management system market in 2018 due to better exchange of information through Cardiovascular Information Systems (CVIS) and Electronic Health Record (EHRs) that simplify workflow and reduce the complexity associated with custom integration. It is anticipated to continue its dominance over the forecast period. In August 2017, HeartSciences launched MyoVista ECG, which combines informatics with traditional 12-lead resting ECG tracings and has ECG interpretive analysis.
ECG management system is expected to expand at a rapid CAGR in the forthcoming years. Introduction of new products is one of the high impacts of rendering drivers. For instance, in 2017, Bittium launched new software in Spain that analyzes cardiac events based on long-term Holter and ECG measurements. This helps in an in-depth analysis of long-term recordings as well as in the detection of cardiac arrhythmias.
In 2014, Medtronic launched the SEEQ MCT System in U.S., which is used to detect and diagnose irregular heartbeats in patients. The launch was facilitated by the acquisition of U.S. based Corventis by Medtronic.
Hospitals and clinics, ambulatory facilities, and others are the key end-use segments of the market. In 2018, hospitals accounted for the largest market share as the majority of patients rely more on hospitals than other healthcare facilities due to the availability of well-equipped devices and the latest monitoring software.
Hospitals provide optimal care for patients suffering from Cardiovascular Diseases and enable early detection and diagnosis, thus witnessing impressive growth. According to the American Heart Association, 209,000 patients suffered from in-hospital cardiac arrest in the U.S in 2016 and this number is expected to rise to more than 23.6 million by 2030.
North America led with around 38% of the total market share in 2017, attributed to high adoption of new technology, availability of several commercialized products, and local presence of major players.
The Asia-Pacific is expected to be the fastest-growing region during the forecast period from 2019 to 2025, owing to commercialization of equipment in Japan and China, growing demand from other emerging countries such as India, and increasing healthcare expenditure.
In 2016, Bioclinica entered into a strategic partnership with SUZUKEN CO., LTD. to supply ECG monitoring equipment in Japan. Bioclinica also made investments in Japan and China and established local scientific and medical expertise to develop cardiac safety solutions and imaging core lab services for clinical trials.
Germany, the U.K., and France are vital markets in Europe. Germany led in the past, attributed to the introduction of advanced products and funding from investors. Rising healthcare infrastructure, the presence of local and major players, and increasing healthcare expenditure are the key factors driving the regional market.
Market Share Insights
The entry of various players in the market is expected to increase the competition. Some of the major players include Compumed Inc.; BioTelemetry, Inc.; GE Healthcare; Mindray Medical; Hill Rom; Philips Healthcare; Schiller AG; Spacelabs Healthcare; NIHON KOHDEN CORPORATION; and Welch Allyn. To remain competitive, the companies engage in the development of innovative products along with geographical expansion specifically in the developing economies.
For instance, in 2017, Personal MedSystems raised USD 5.36 million for innovations in the company's technology and sales growth of CardioSecur, a smartphone-connected ECG device. In 2015, AliveCor, Inc. introduced the third-generation AliveCor Heart Monitor in U.K. and Ireland which records, stores, transfers, and displays single-channel ECG rhythms and helps detect atrial fibrillation and normal sinus rhythm.
Key Topics Covered
Chapter 1 Research Methodology
1.1 Information Procurement
1.2 Data Analysis
Chapter 2 Executive Summary
2.1 Market Snapshot
Chapter 3 Global Market Variables, Trends & Scope
3.1 Market Segmentation & Scope
3.2 Market Driver Analysis
3.2.1 Rising geriatric population
3.2.2 Technological advancements to favor continuous monitoring
3.3 Market Restraint Analysis
3.3.1 Lack of reimbursement policies
3.3.2 False-negative and false-positive results
3.4 Penetration & Growth Prospect Mapping
3.5 ECG Equipment and Management System - SWOT Analysis, by Factor (Political & Legal, Economic and Technological)
3.6 Industry Analysis - Porter's
3.7 ECG Equipment and Management System Competitive Landscape: Market Position Analysis (Based on Products, Regional Presence, and Recent Updates
3.8 ECG Management Systems Market: Trends and Technological Advancements in Healthcare
Chapter 4 ECG Equipment and Management Systems Market: Type Estimates & Trend Analysis
4.1 ECG Equipment and Management Systems Market: Type Analysis
4.2 Holter Monitoring Systems
4.3 Resting ECG System
4.4 Stress ECG Monitors
4.5 Event Monitoring Systems
4.6 ECG Management System
Chapter 5 ECG Equipment and Management Systems Market: Recent Updates
Chapter 6 ECG Equipment and Management Systems Market: End-Use Estimates & Trend Analysis
6.1 ECG Equipment and Management Systems: End Use Analysis
6.2 Hospitals & Clinics
6.3 Ambulatory Facilities
Chapter 7 ECG Equipment and Management Systems Market: Regional Estimates & Trend Analysis
7.1 ECG Equipment and Management System Market: Regional Movement analysis
7.2 North America
7.5 Latin America
7.6 Middle East & Africa (MEA)
Chapter 8 Competitive Landscape
8.1 Strategy Framework
8.1.1 Product Approval
8.1.2 Mergers & Acquisitions
8.1.4 Research Initiatives
8.2 Company Profiles
8.2.1 BioTelemetry Inc.
8.2.2 CompuMed Inc.
8.2.3 GE Healthcare
8.2.4 Shenzhen Mindray Bio-Medical Electronics Co. Ltd.
8.2.6 Nihon Kohden Corporation
8.2.7 Koninklijke Philips N.V.
8.2.9 Spacelabs Healthcare (Subsidiary of OSI Systems Inc.)
8.2.10 Welch Allyn (Subsidiary of Hill-Rom Services Inc.)
8.2.11 CardioComm Solutions Inc.
8.2.12 McKesson Corporation
8.2.13 Meditech Equipment Co. Ltd.
8.2.14 Device Technologies
8.2.15 Draegerwerk AG & Co. KGaA
8.2.16 ZOLL Medical Corporation
8.2.17 Medical ECONET
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