San Francisco, 13 December 2018
, ECG Equipment Market Analysis By
Types (Monitoring Equipment, Holter Monitoring Systems, Event Monitoring
Systems, Stress Testing Systems) And Segment Forecasts To 2022
The global ECG equipment market is expected to reach USD 6.3 billion by 2022,
according to a new report by Grand View Research Inc. The rising incidences of
cardiovascular disorders and government initiatives to make people aware about
health check-ups are expected to boost market growth. In addition, the change
in the medical preference from acute intervention to preventive care is
expected to increase the demand for more accurate and cost-effective methods
for heart monitoring.
According to the WHO, in 2012,
around 17.5 million people died due to cardiovascular diseases. This is due to
the late diagnosis and absence of early symptoms as the patient fails to keep
record of his vital signs.
Owing to the increasing
incidences, government is undertaking various awareness programs. According to
the American Heart Association (AHA), 56% women identified heart disease as a
leading cause of death in 2012 as compared to 30% in 1997.
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Report On ECG Equipment Market Analysis:
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Further key findings from the report suggest:
·
ECG monitoring equipment has
high future growth potential owing to changing trend towards preventive care
and new product innovation with data integration. In February 2014, Medtronic
launched its FDA approved Reveal LINQ. The upgraded version of Reveal XT offers
patient heart monitoring for three years with 20% more data memory than its
previous version.
·
ECG stress testing systems is
one of the dominating segments of the market. The growing need for flexible
stress systems and comprehensive data management is driving the market for this
segment. Quinton 9500 series from Cardiac Science portable system allows
physicians to optimize the examination space and enables more data
integrations.
·
Holter monitoring systems is another
segment, which is expected to gain significant market share over the forecast
period due to the fact that the system assists in identifying arrhythmias that
takes place during certain activities such as exercise, stress, bowel
movements, sleep, eating, and stress
·
2M Engineering Ltd. launched
the VitaMove 2S ExG movement and ECG-recorder, which is equipped with 3-lead
ECG holter, that combines daily activities with heart rate events/trends, ECG,
and derivatives such as Heart Rate Variability (HRV)
·
North America dominated the
market in 2014 and is expected to grow at a CAGR of 5.8% over the forecast
period. With major industry players situated in North America, the innovations
and upgrading rates are higher as compared to other regions. In August 2015, InfoBionic
along with Safeguard Scientists raised USD 8 million to commercialize Mome
Kardia. Mome Kardia is a remote patient monitoring system based on the cloud
technology that could be worn around the neck.
·
Asia Pacific is expected to
witness substantial growth during the forecast period owing to the rising
incidence rate of heart diseases and growing manufacturing outsourcing in the
region
·
According to the Government of
India, the prevalence of heart failure in the nation due to hypertension,
obesity, coronary heart disease, obesity, rheumatic heart disease, diabetes
ranges from 1.3 to 4.6 million and an annual incidence rate of 491,600 to 1.8
million
·
As per a report published by
the Associated Chambers of Commerce and Industry of India (ASSOCHAM), people
have adopted unhealthy lifestyles along with increasing stress levels,
decreasing physical activity, tobacco smoking, and increasing consumption of
saturated fats
·
Industry players are constantly
fueling the market with newer technologies or upgrading existing technology. In
May 2015, CardioComm Solutions, Inc. launched HeartCheck PEN. This Bluetooth
wireless connectivity pen could be connected for data acquisition with Android
and Apple smartphones.
·
Apart from technology
innovations, many industry players are expanding their global presence by
signing distribution agreements with domestic distributors. In October 2015,
iNeedMD Holdings, Inc. signed a distribution agreement with Clifton Africa Ltd.
This one-year distribution agreement is worth USD 1.5 million.
·
Key players of the ECG
equipment market include Medtronic, GE Healthcare, Philips Healthcare, Schiller
AG, Nihon Kohden, CardioComm Solutions, Inc., and Johnson & Johnson.
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Grand View Research has segmented the
global ECG equipments market on the basis of product type and region:
ECG equipment type outlook
(Revenue, USD Million, 2012 - 2022)
·
ECG Monitoring Equipment
·
Holter Monitoring Systems
·
Event Monitoring Systems
·
ECG Stress Testing Systems
ECG equipment regional outlook
(Revenue, USD Million, 2012 - 2022)
·
North America
o
U.S.
o
Canada
·
Europe
o
UK
o
Germany
o
France
o
Spain
o
Italy
·
Asia Pacific
o
Japan
o
China
o
India
·
RoW
o
Australia
o
Brazil
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About Grand View Research
Grand View Research, Inc. is a U.S. based market research and
consulting company, registered in the State of California and headquartered in
San Francisco. The company provides syndicated research reports, customized
research reports, and consulting services. To help clients make informed
business decisions, we offer market intelligence studies ensuring relevant and
fact-based research across a range of industries, from technology to chemicals,
materials and healthcare.
For more information: www.grandviewresearch.com/
