ECG Equipment and Management Systems Market Size, Share, Growth and Forecast Report
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
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