DUBLIN--(BUSINESS WIRE)--The "Electrocardiogram (ECG) Machine Market - Forecasts from 2021 to 2026" report has been added to ResearchAndMarkets.com's offering.
Global electrocardiogram (ECG) machine market is projected to witness a CAGR of 5.18% during the forecast period to reach a market size of US$7.087 billion by 2026, increasing from US$4.977 billion in 2019.
- Koninklijke Philips N.V.
- CardioComm Solutions, Inc.
- SCHILLER AG
- Nihon Kohden Corporation
- Mortara Instrument
- General Electric Company
- BioTelemetry, Inc.
Electrocardiogram (ECG) is a non-invasive medical test that records the electrical activity of the heartbeat over a period of time. ECG monitoring devices such as resting ECG, stress ECG, and Holter monitors help to identify and provide information about abnormal functioning of the heart. The surge in the number of patients being diagnosed with heart diseases will proliferate the market growth during the forecast period. According to Healthline, in the United States, in 2018, 30.3 million adults were diagnosed with heart diseases, and every year 6, 47,000 Americans die due to heart-related diseases, making it the leading cause of death in the country. The changing lifestyle in many regions across the globe has led to an increase in the obese population which is prone to a continuous risk of suffering from heart diseases. According to the World Health Organization, approximately 650 million people were obese, worldwide and this number is expected to increase every year. To meet the increasing demand of patients, the need for ECG machines for regular or continuous monitoring of cardiac health will be required. In addition, the rapidly increasing geriatric population is further elevating the need for cardiac monitoring, thereby increasing the demand for ECG machines.
Also, technological advancements in ECG devices such as portable and handheld, have made the ECG procedure easier and more popular as patients can use the machines at the convenience of their homes, instead of going to the hospitals. Furthermore, substantial amounts are being funneled into research and development by key market players to develop advanced and error-free ECG machines which will further boost the market growth over the projected period.
By type, the Holter monitors segments is expected to hold a dominant market share as it is portable and records the electrical activity of the heart continuously over 24 hours or longer without being in the hospital premises. By end-users, the hospital's segment is estimated to have a significant market share owing to the rising number of treatments and surgeries being taking place, globally for which electrocardiogram machines are required. Geographically, the Asia Pacific region is expected to witness the highest CAGR over the projected period due to increasing investments in this region by key market players and improving healthcare infrastructure in this region. Also, due to the increase in the geriatric population in countries such as Japan and India will further propel the market growth. North America is estimated to hold a notable market share owing to the flourishing healthcare industry and the presence of key market players in this region.
- Increasing incidence of cardiovascular diseases in people.
- Rise in the geriatric population.
- Unfavorable reimbursement policies.
COVID-19 impact On Electrocardiogram (ECG) Machine Market.
The Covid-19 pandemic moderately impacted the global electrocardiogram machines market as due to the nationwide lockdown restrictions; many patients deferred their ongoing treatments and postponed their visits to the hospital to avoid public places which hampered the market growth of electrocardiogram machines. However, the patients who required ECG monitoring on an urgent basis did go forward with the procedure which stabilized the market growth. Also, the patients suffering from chronic and cardiovascular diseases witnessed a huge spike in numbers due to being affected by the virus, which resulted in the increasing demand for ECG monitoring, subsequently contributing to the growth of the electrocardiogram machine market.
Key Topics Covered:
2. Research Methodology
3. Executive Summary
4. Market Dynamics
4.1. Market Drivers
4.2. Market Restraints
4.3. Porters Five Forces Analysis
4.3.1. Bargaining Power of Suppliers
4.3.2. Bargaining Power of Buyers
4.3.3. The threat of New Entrants
4.3.4. Threat of Substitutes
4.3.5. Competitive Rivalry in the Industry
4.4. Industry Value Chain Analysis
5. Electrocardiogram Machine Market Analysis, By Type
5.2. Holter Monitors
5.3. Portable Handheld ECG Monitors
5.4. Wireless ECG Machine
6. Electrocardiogram Machine Market Analysis, By End-User
6.3. Ambulatory Care Centers
6.4. Home Care
7. Electrocardiogram Machine Market Analysis, By Geography
8. Competitive Intelligence
8.1. Competitive Benchmarking and Analysis
8.2. Recent Investment and Deals
8.3. Strategies of Key Players
9. Company Profiles
For more information about this report visit https://www.researchandmarkets.com/r/ajgkgd