Impact Analysis of Covid-19

The complete version of the Report will include the impact of the COVID-19, and anticipated change on the future outlook of the industry, by taking into the account the political, economic, social, and technological parameters.

Electrocardiogram (ECG) Devices Market – Insights

Electrocardiogram (ECG) is a device that records electrical activity of the heart in waveforms with electrodes, which are placed in contact to the body (chest) and the signals are amplified on the ECG monitor. The interpretation of these waveforms help in identifying symptoms of arrhythmia and acute coronary syndromes.

The global Electrocardiogram (ECG) Devices market is estimated to account for US$ 5,589.3 Mn in terms of value by the end of 2027.

Global Electrocardiogram (ECG) Devices Market: Drivers

Increasing prevalence of cardiovascular diseases (CVDs) is expected to boost growth of the global Electrocardiogram (ECG) Devices market over the forecast period. For instance, according to American Heart Association’s Heart Disease and Stroke Statistics 2018, around 92.1 million adults in the U.S. are suffering from some form of CVD or the after-effects of stroke.

Moreover, increasing geriatric population is also expected to aid in growth of the market. For instance, according to the World Health Organization, geriatric population is expected to reach 2 billion by 2050, up from 900 million in 2015.

North America region held dominant position in the global Electrocardiogram (ECG) Devices market in 2019, accounting for 34.7% share in terms of value, followed by Asia Pacific.

Figure 1. Global Electrocardiogram (ECG) Devices Market Share (%), by Region, 2019

Electrocardiogram (ECG) Devices  | Coherent Market Insights

Source: Coherent Market Insights Analysis (2020)

Global Electrocardiogram (ECG) Devices Market: Restraints

Lengthy medical device approval period is expected to hinder growth of the global Electrocardiogram (ECG) Devices market. The U.S. FDA has implemented rules for in-vitro testing of Electrocardiogram (ECG) Devices, which includes environmental testing, software testing, electrical safety, and electromagnetic compatibility of the devices. Moreover, the time needed to process and approve 510(K) increased from 90 days to 140 days due to the complexity and volume of medical devices marketing submissions. 

Several handheld Electrocardiogram (ECG) Devices offer limited information as compared to conventional 12?lead ECGs, which is also expected to limit growth of the market.

Global Electrocardiogram (ECG) Devices Market: Opportunities

Development of algorithms that can remove motion artifacts in ambulatory ECGs is expected to offer lucrative growth opportunities for players in the market. For instance, in February 2020, researchers at University of Electronic Science and Technology of China developed an adaptive cancellation algorithm based on multi-inertial sensors to suppress motion artifacts in ambulatory ECGs.

Moreover, increasing the efficacy of portable ECGs is also expected to aid in growth of the market. For instance, in October 2019, researchers at Electronics and Telecommunications Research Institute, South Korea, reported use of two kinds of first-order derivative filters and a max filter for an efficient real-time and QRS detection method to analyze ECG signals measured from wearable Electrocardiogram (ECG) Devices in real-time.

Electrocardiogram (ECG) Devices  | Coherent Market Insights

Resting Electrocardiogram (ECG) Devices segment in the global Electrocardiogram (ECG) Devices market was valued at US$ 2,226.2 Mn in 2019 and is expected to reach US$ 3,089.4 Mn by 2027 at a CAGR of 4.2% during the forecast period.

Market Trends/Key Takeaways

Major players in the market are focused on approval and launch of portable Electrocardiogram (ECG) Devices. For instance, in May 2019, AliveCor received U.S. FDA clearance for its KardiaMobile 6L, a six-lead portable ECG device.

Major players in the market are also focused on conducting studies to test the efficacy of their novel products. For instance, in February 2020, Johnson & Johnson launched a new, virtual clinical study to determine the efficacy of Apple’s iPhone and ECG-enabled smartwatch in reducing the risk of stroke and detecting cases of atrial fibrillation.

Regulations

Electrocardiogram (ECG) Devices regulated in the U.S by FDA Center for Devices and Radiology Health (CRDH).

  • Electrocardiogram (ECG) Devices are cleared through Section 510(k) of the Food, Drug and Cosmetic Act and clearance is only given on the basis of safety of device and to conduct post-market surveillance
  • The device should be similar to another existing devices in the market to get approval

Segmentation

Electrocardiogram (ECG) Devices  | Coherent Market Insights

Global Electrocardiogram (ECG) Devices Market: Competitive Landscape

Major players operating in the global Electrocardiogram (ECG) Devices market include,  Cardiac Insight Inc., Koninklijke Philips N.V., General Electric Company, CardioNet Inc., Mindray Medical International Limited, Spacelabs Healthcare (a subsidiary of OSI Systems Inc.), Schiller AG, Compumed Inc., Nihon Cohden Corporation, and Welch Allyn Inc.

Global Electrocardiogram (ECG) Devices Market: Key Developments 

Major players in the market are focused on adopting partnership strategies to expand their product portfolio. For instance, in October 2019, AliveCor partnered with Huami Corporation, a manufacturer of biometric, data-driven wearables, to integrate the technologies of each company to develop a new generation of medical functionality to wearable devices.

Major players in the market are also focused on adopting collaboration strategies to expand their product portfolio. For instance, in May 2018, GE Healthcare collaborated with Preventice Solutions Inc. to offer customers with an extension of the hospital heart station and to expand GE Healthcare ECG services in home settings.

ECG or Electrocardiogram devices are machines that are used to monitor and record the muscular as well as electrical activity of the heart within a certain time frame. The output of this test is a graph that is plotted for electric pulse v/s time. ECG is one of the most commonly used non-invasive medical diagnostic tool to know the abnormalities in the heart beats, rhythm, and rate of heartbeats. Thus, these devices are effective in diagnosing as well as deducing the nature of treatment to be given to the patients for various cardiovascular diseases such as peripheral artery disease, rheumatic heart disease, coronary heart disease, congenital heart disease, deep vein thrombosis, pulmonary embolism and others.

Key features of the study:

  • This report provides in-depth analysis of the Electrocardiogram (ECG) Devices market  and provides market size (US$ million) and compound annual growth rate (CAGR %) for the forecast period (2019–2027), considering 2018 as the base year
  • It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market
  • This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends,  regional outlook, and competitive strategy adopted by key players
  • It profiles key players in the global Electrocardiogram (ECG) Devices market  based on the following parameters – company overview, financial performance, product portfolio, market presence, distribution strategies, key developments, strategies, and future plans
  • Key companies covered as a part of this study include, Cardiac Insight Inc., Koninklijke Philips N.V., General Electric Company, CardioNet Inc., Mindray Medical International Limited, Spacelabs Healthcare (a subsidiary of OSI Systems Inc.), Schiller AG, Compumed Inc., Nihon Cohden Corporation, and Welch Allyn Inc.
  • Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, technology up-gradation, market expansion, and marketing tactics
  • The global Electrocardiogram (ECG) Devices market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
  • Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global Electrocardiogram (ECG) Devices market

Detailed Segmentation:

  • Global Electrocardiogram (ECG) Devices Market, By Product Type :
    • Monitoring ECG Systems
      • Data Monitoring
      • Event Monitoring
      • Cardiovascular Monitoring
    • Diagnostic ECG Systems
      • Rest ECG Systems
      • Stress ECG Systems
      • Holter ECG Systems
  • Global Electrocardiogram (ECG) Devices Market, By Technology:
    • Portable ECG Systems
    • Wireless ECG Systems
  • Global Electrocardiogram (ECG) Devices Market, By Lead Type:
    • Single Lead ECG
    • 3-6 Lead ECG
    • 12-Lead ECG
  • Global Electrocardiogram (ECG) Devices Market, By End-user:
    • Hospitals
    • Homecare Settings
    • Others
  • Global Electrocardiogram (ECG) Devices Market, By Geography:
    • North America
      • By Product Type :
        • Monitoring ECG Systems
          • Data Monitoring
          • Event Monitoring
          • Cardiovascular Monitoring
        • Diagnostic ECG Systems
          • Rest ECG Systems
          • Stress ECG Systems
          • Holter ECG Systems
      • By Technology:
        • Portable ECG Systems
        • Wireless ECG Systems
      • By Lead Type:
        • Single Lead ECG
        • 3-6 Lead ECG
        • 12 Lead ECG
      • By End-user:
        • Hospitals
        • Homecare Settings
        • Others
      • By Country:
        • U.S.
        • Canada
    • Europe
      • By Product Type :
        • Monitoring ECG Systems
          • Data Monitoring
          • Event Monitoring
          • Cardiovascular Monitoring
        • Diagnostic ECG Systems
          • Rest ECG Systems
          • Stress ECG Systems
          • Holter ECG Systems
      • By Technology:
        • Portable ECG Systems
        • Wireless ECG Systems
      • By Lead Type:
        • Single Lead ECG
        • 3-6 Lead ECG
        • 12 Lead ECG
      • By End-user:
        • Hospitals
        • Homecare Settings
        • Others
      • By Country:
        • U.K.
        • Germany
        • Italy
        • France
        • Spain
        • Russia
        • Rest of Europe
    • Asia Pacific
      • By Product Type :
        • Monitoring ECG Systems
          • Data Monitoring
          • Event Monitoring
          • Cardiovascular Monitoring
        • Diagnostic ECG Systems
          • Rest ECG Systems
          • Stress ECG Systems
          • Holter ECG Systems
      • By Technology:
        • Portable ECG Systems
        • Wireless ECG Systems
      • By Lead Type:
        • Single Lead ECG
        • 3-6 Lead ECG
        • 12 Lead ECG
      • By End-user:
        • Hospitals
        • Homecare Settings
        • Others
      • By Country:
        • China
        • India
        • Japan
        • ASEAN
        • Australia
        • South Korea
        • Rest of Asia Pacific
    • Latin America
      • By Product Type :
        • Monitoring ECG Systems
          • Data Monitoring
          • Event Monitoring
          • Cardiovascular Monitoring
        • Diagnostic ECG Systems
          • Rest ECG Systems
          • Stress ECG Systems
          • Holter ECG Systems
      • By Technology:
        • Portable ECG Systems
        • Wireless ECG Systems
      • By Lead Type:
        • Single Lead ECG
        • 3-6 Lead ECG
        • 12 Lead ECG
      • By End-user:
        • Hospitals
        • Homecare Settings
        • Others
      • By Country:
        • Brazil
        • Mexico
        • Argentina
        • Rest of Latin America
    • Middle East
      • By Product Type :
        • Monitoring ECG Systems
          • Data Monitoring
          • Event Monitoring
          • Cardiovascular Monitoring
        • Diagnostic ECG Systems
          • Rest ECG Systems
          • Stress ECG Systems
          • Holter ECG Systems
      • By Technology:
        • Portable ECG Systems
        • Wireless ECG Systems
      • By Lead Type:
        • Single Lead ECG
        • 3-6 Lead ECG
        • 12 Lead ECG
      • By End-user:
        • Hospitals
        • Homecare Settings
        • Others
      • By Country:
        • GCC
        • Israel
        • Rest of Middle East
    • Africa
      • By Product Type :
        • Monitoring ECG Systems
          • Data Monitoring
          • Event Monitoring
          • Cardiovascular Monitoring
        • Diagnostic ECG Systems
          • Rest ECG Systems
          • Stress ECG Systems
          • Holter ECG Systems
      • By Technology:
        • Portable ECG Systems
        • Wireless ECG Systems
      • By Lead Type:
        • Single Lead ECG
        • 3-6 Lead ECG
        • 12 Lead ECG
      • By End-user:
        • Hospitals
        • Homecare Settings
        • Others
      • By Country/Region:
        • Central Africa
        • South Africa
        • North Africa
  • Company Profiles
    • Cardiac Insight Inc.*
      • Company Overview
      • Product Portfolio
      • Financial Performance
      • Key Strategies
      • Recent Developments
    • Koninklijke Philips N.V.
    • General Electric Company
    • CardioNet Inc.
    • Mindray Medical International Limited
    • Spacelabs Healthcare (a subsidiary of OSI Systems Inc.)
    • Schiller AG
    • CompuMed Inc.
    • Nihon Cohden Corporation
    • Welch Allyn Inc.
  •  “*” marked represents similar segmentation in other categories in the respective section.

Table of Contents

  1. Research Objective and Assumption
    • Research Objectives
    • Assumptions
    • Abbreviations
  2. Market Purview
    • Report Description
      • Market Definition and Scope
    • Executive Summary
      • Market Snippet, By Product Type
      • Market Snippet, By Technology
      • Market Snippet, By Region
    • Coherent Opportunity Map (COM)
  3. Market Dynamics, Regulations, and Trends Analysis
    • Market Dynamics
      • Drivers
      • Restraints
      • Market Opportunities
    • Impact Analysis
    • Novel Product Launch/Approval
    • Acquisitions and Partnerships
    • Technological Advancement
    • Regulatory Scenario
    • Reimbursement Scenario
    • Product Recalls
    • PEST Analysis
    • PORTER’s Analysis
    • Epidemiology
  4. Global Electrocardiogram (ECG) Devices Market, By Product Type, 2019 – 2027 (US$ Mn)
    • Introduction
      • Market Share Analysis, 2019 and 2027 (%)
      • Y-o-Y Growth Analysis, 2017–2027
      • Segment Trends
    • Monitoring ECG Systems
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
      • Segment Trends
        • Data Monitoring
        • Event Monitoring
        • Cardiovascular Monitoring
    • Diagnostic ECG Systems
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
      • Segment Trends
        • Rest ECG Systems
        • Stress ECG Systems
        • Holter ECG Systems
  5. Global Electrocardiogram (ECG) Devices Market, By Technology, 2019 – 2027 (US$ Mn)
    • Introduction
      • Market Share Analysis, 2019 and 2027 (%)
      • Y-o-Y Growth Analysis, 2017–2027
      • Segment Trends
    • Portable ECG Systems
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
    • Wireless ECG Systems
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
  6. Global Electrocardiogram (ECG) Devices Market, By Lead Type, 2019 – 2027 (US$ Mn)
    • Introduction
      • Market Share Analysis, 2019 and 2027 (%)
      • Y-o-Y Growth Analysis, 2017–2027
      • Segment Trends
    • Single Lead ECG
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
    • 3-6 Lead ECG
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
    • 12-Lead ECG
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
  7. Global Electrocardiogram (ECG) Devices Market, By End-user, 2019 – 2027 (US$ Mn)
    • Introduction
      • Market Share Analysis, 2019 and 2027 (%)
      • Y-o-Y Growth Analysis, 2017–2027
      • Segment Trends
    • Hospitals
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
    • Homecare Settings
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
    • Others
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
  8. Global Electrocardiogram (ECG) Devices Market, By Region, 2019 – 2027 (US$ Mn)
    • Introduction
      • Market Share Analysis, By Region, 2019 and 2027 (%)
      • Y-o-Y Growth Analysis, For Regions, 2017–2026
    • North America
      • Market Size and Forecast, By Product Type, 2016 – 2027 (US$ Mn)
      • Market Size and Forecast, By Technology, 2016 – 2027 (US$ Mn)
      • Market Size and Forecast, By Lead Type, 2016 – 2027 (US$ Mn)
      • Market Size and Forecast, By End User, 2016 – 2027 (US$ Mn)
      • Market Size and Forecast, By Country, 2016 – 2027 (US$ Mn)
        • U.S.
        • Canada
    • Europe
      • Market Size and Forecast, By Product Type, 2016 – 2027 (US$ Mn)
      • Market Size and Forecast, By Technology, 2016 – 2027 (US$ Mn)
      • Market Size and Forecast, By Lead Type, 2016 – 2027 (US$ Mn)
      • Market Size and Forecast, By End User, 2016 – 2027 (US$ Mn)
      • Market Size and Forecast, By Country, 2016 – 2027 (US$ Mn)
        • U.K.
        • Germany
        • Italy
        • France
        • Spain
        • Russia
        • Rest of Europe
    • Asia Pacific
      • Market Size and Forecast, By Product Type, 2016 – 2027 (US$ Mn)
      • Market Size and Forecast, By Technology, 2016 – 2027 (US$ Mn)
      • Market Size and Forecast, By Lead Type, 2016 – 2027 (US$ Mn)
      • Market Size and Forecast, By End User, 2016 – 2027 (US$ Mn)
      • Market Size and Forecast, By Country, 2016 – 2027 (US$ Mn)
        • China
        • India
        • Japan
        • ASEAN
        • Australia
        • South Korea
        • Rest of APAC
    • Latin America
      • Market Size and Forecast, By Product Type, 2016 – 2027 (US$ Mn)
      • Market Size and Forecast, By Technology, 2016 – 2027 (US$ Mn)
      • Market Size and Forecast, By Lead Type, 2016 – 2027 (US$ Mn)
      • Market Size and Forecast, By End User, 2016 – 2027 (US$ Mn)
      • Market Size and Forecast, By Country, 2016 – 2027 (US$ Mn)
        • Brazil
        • Mexico
        • Argentina
        • Rest of Latin America
    • Africa
      • Market Size and Forecast, By Product Type, 2016 – 2027 (US$ Mn)
      • Market Size and Forecast, By Technology, 2016 – 2027 (US$ Mn)
      • Market Size and Forecast, By Lead Type, 2016 – 2027 (US$ Mn)
      • Market Size and Forecast, By End User, 2016 – 2027 (US$ Mn)
      • Market Size and Forecast, By Country/Region, 2016 – 2027 (US$ Mn)
        • Central Africa
        • South Africa
        • North Africa
    • Middle East
      • Market Size and Forecast, By Product Type, 2016 – 2027 (US$ Mn)
      • Market Size and Forecast, By Technology, 2016 – 2027 (US$ Mn)
      • Market Size and Forecast, By Lead Type, 2016 – 2027 (US$ Mn)
      • Market Size and Forecast, By End User, 2016 – 2027 (US$ Mn)
      • Market Size and Forecast, By Country, 2016 – 2027 (US$ Mn)
        • GCC
        • Israel
        • Rest of Middle East
  9. Competitive Landscape
    • Heat Map Analysis
    • Company Profiles
      • Cardiac Insight Inc.
        • Company Overview
        • Product Portfolio
        • Key Developments
        • Financial Performance
        • Strategies
      • Koninklijke Philips N.V.
        • Company Overview
        • Product Portfolio
        • Key Developments
        • Financial Performance
        • Strategies
      • General Electric Company
        • Company Overview
        • Product Portfolio
        • Key Developments
        • Financial Performance
        • Strategies
      • CardioNet Inc.
        • Company Overview
        • Product Portfolio
        • Key Developments
        • Financial Performance
        • Strategies
      • Mindray Medical International Limited
        • Company Overview
        • Product Portfolio
        • Key Developments
        • Financial Performance
        • Strategies
      • Spacelabs Healthcare (a subsidiary of OSI Systems Inc.)
        • Company Overview
        • Product Portfolio
        • Key Developments
        • Financial Performance
        • Strategies
      • Schiller AG
        • Company Overview
        • Product Portfolio
        • Key Developments
        • Financial Performance
        • Strategies
      • CompuMed Inc.
        • Company Overview
        • Product Portfolio
        • Key Developments
        • Financial Performance
        • Strategies
      • Nihon Cohden Corporation
        • Company Overview
        • Product Portfolio
        • Key Developments
        • Financial Performance
        • Strategies
      • Welch Allyn, Inc.
        • Company Overview
        • Product Portfolio
        • Key Developments
        • Financial Performance
        • Strategies
  10. Section
    • References
    • Research Methodology
    • About us and Sales Contact

*Browse 31 market data tables and 30 figures on “Electrocardiogram (ECG) Devices Market - Global forecast to 2027.

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