Diagnostic Electrocardiograph (ECG) Market Key Participants, Trends, and SWOT Analysis

Global diagnostic electrocardiograph (ECG) market is predicted to grow considerably in the coming years due to increase in number of cardiovascular disorders. Diagnostic electrocardiographs are the diagnostic devices that display electrical activity of the patient’s heart. It exhibits abnormal working or movements of the heart and help surgeons in further diagnostics and treatments. Diagnostic electrocardiograph analyses heart attack issues detect health issues that change the body’s electrolytes balance, like magnesium and potassium, and other issues, such as overdose of different types of drugs.

The major driving factors of diagnostic electrocardiograph (ECG) market include growing geriatric population, developments in enhanced and affordable remote monitoring systems, growing disorders, such as hypertension and diabetes, rise in investment in the ECG research and development, and growing number of hospitals. Moreover, improving healthcare infrastructure in the emerging economies and continuous technological advancements in ECG devices are fuelling the diagnostic ECG market. However, unsupportive reimbursement policies, significant cost of devices, and unstable economic conditions are expected to hamper the market growth.

Developing economies of Asia Pacific is expected to offer lucrative opportunities to the market. This can be attributed to the rise in number of hospitals, growing population, and rise in number of cardiovascular disorders. Additionally, enhanced technologies like wireless technologies is also expected to offer growth opportunities to the market.

Diagnostic electrocardiograph (ECG) market is categorized on the basis of product type, lead type, applications, and geography. On the basis of product type, market is divided into resting ECG systems, halter monitors, and stress ECG monitors. Halter monitors segment is predicted to grow significantly in the forecast period due to growing investment in ECG by hospitals and increase in number of hospitals.

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Based on lead type, market is divided into single lead type ECG devices, 12 lead type ECG devices, 3 to 6 type ECG devices, and other ECG devices. 3 to 6 lead type ECG devices segment is projected to hold larger share of the market due to high efficiency offered by these devices and cost efficiency.

In terms of application, diagnostic electrocardiograph market is bifurcated into clinics, hospitals, ambulatories, home healthcare settings, nursing homes, research centre, ambulatory care, physician office, and others. Owing to rise in hospitals and significant investments in the domain, hospitals segment is expected to lead the market.

Geographically, market is divided into North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. North America is expected to dominate the market in future due to growing geriatric population, rise in disposable income of consumers, and high demand for minimally invasive treatments. Asia Pacific is also expected to contribute considerably in future due to growing population base and improving healthcare infrastructure in the region.

The major players in diagnostic electrocardiograph (ECG) market comprise Edan Instruments, Inc., Schiller AG, Philips Healthcare, GE Healthcare, Mindray Medical, Cardionet, Spacelabs Healthcare, Mortara Instrument Inc., Nihon Kohden Corporation, CompumedInc, and Welch Allyn among others.

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