ECG Equipment and Management Systems Market - Size, Share, Growth and Trends

Posted by carol miller on January 21st, 2020

The global ECG equipment and management systems market size is expected to reach USD 7.6 billion by 2025, based on a new report by Grand View Research, Inc. It is projected to expand at a CAGR of 6.0% during the forecast period. Increase in geriatric population and prevalence of cardiac diseases are likely to drive the growth.

Furthermore, increasing investments by market players and government organizations for development and commercialization of various sensitive and easy-to-use equipment are likely to drive market growth. For instance, in April 2017, CardioComm Solutions, Inc. entered into business with CareSpan USA, Inc. to incorporate its cloud-based ECG analysis tools into the latter’s Virtual Clinic. This would help in remote analysis of 1, 3, and 12 lead ECG data for online patient care.

In September 2017, the U.S. Food and Drug Administration (FDA) approved app-driven, fully reusable, and easy-to-clean ECG device manufactured by NimbleHeart. The device is used without electrolytic gels and adhesive. Hence, it is easy to clean and considered ideal for multi-patient usage.

North America was the major contributor in the ECG equipment and management system market in 2018. It is anticipated to maintain its dominance during the forecast period due to the demand for portable monitoring and diagnostic devices, adoption of new technologies, and introduction of advanced products. Asia Pacific is likely to witness significant growth over the next decade owing to increasing investments and entry of key market players in the region along with growing healthcare expenditure and disposable income in major markets such as Japan and China.

Further key findings from the study suggest:

• Resting ECG system held the highest market share and is expected to witness significant growth during the forecast period, attributed to the availability of several commercial products and improved clinical accuracy of the systems due to advanced data analysis tools to detect heart-related problems
  
  
• Management system segment is expected to witness the fastest growth over the forecast period owing to the introduction of innovative products such as mobile access to waveforms, ease of use, and increased efficiency of these systems
  
  
• Hospitals and clinics end use segment held the largest market share as majority of patients rely on hospitals than other healthcare facilities due to the availability of well-equipped devices and latest monitoring software
  
  
• Some of the key players operating in the ECG equipment and management systems market are BioTelemetry, Inc.; Compumed Inc.; GE Healthcare; Mindray Medical; Hill Rom; NIHON KOHDEN CORPORATION; Philips Healthcare; Schiller AG; Spacelabs Healthcare; Welch Allyn; CardioComm Solutions, Inc.; McKesson Corporation; Device Technologies; and Meditech.

Access full research report on global ECG equipment and management systems market: www.grandviewresearch.com/industry-analysis/ecg-management-systems-market