The global Electrocardiograph (ECG) market is poised for a promising growth trajectory in the short term, as per the latest market insights. A comprehensive report sheds light on the anticipated market developments over the next few years, highlighting key drivers and growth prospects.
Cardiovascular Disorders Fuel Demand for ECG Products
The escalating incidence of cardiovascular disorders, attributed to lifestyle changes, remains a pivotal factor driving the demand for ECG products. Conditions like ischemic heart disease (IHD), stroke, peripheral artery disease, and hypertensive heart diseases are on the rise, making cardiovascular diseases a leading global cause of mortality. In the United States alone, cardiovascular disorders account for approximately 868,662 fatalities, according to the American Heart Association (AHA). Moreover, arrhythmias affect around 4 million Americans, with half a million succumbing to them annually. This alarming trend is expected to create substantial opportunities for products capable of monitoring and analyzing heart conditions, thus bolstering the growth of the Electrocardiograph market.
Remote Patient Monitoring Revolutionizes Heart Health Management
Technological advancements have fueled the demand for remote patient monitoring, aligning with the burgeoning trend of home healthcare. Formerly underutilized due to system complexities and data transparency issues, remote patient monitoring has experienced a resurgence with the emergence of telehealth as the next-generation virtual healthcare solution. This shift is anticipated to bring remote ECG systems to the forefront for long-term remote heart monitoring. The rising trend of remote patient monitoring is set to pave the way for substantial growth in the Electrocardiograph market in the years ahead.
Holter ECGs Gain Momentum in the Global Market
Holter electrocardiographs, particularly popular in home healthcare settings, have witnessed increasing demand in recent years. These portable devices continuously record heart electrical activity for 24 hours or more, and advanced models come equipped with Bluetooth transmitters for enhanced data accessibility. Collaborations among manufacturers have further improved Holter ECGs market position. Notably, in 2021, M. Heart Co. Ltd., Nitto Denko Corporation, and Astellas Pharma joined forces to develop the EG Holter, a disposable Holter electrocardiograph. This collaboration has significantly boosted the demand and sales of Holter ECGs, contributing to the growth of the Electrocardiograph market.
North America Leads the Global Electrocardiograph Market
North America is poised to maintain its leadership in the Electrocardiograph market in terms of both value and volume. This dominance is attributed to the regions emphasis on patient care and success, supported by a well-developed healthcare infrastructure. The adoption of technologically advanced systems and healthcare devices, coupled with a rising prevalence of cardiovascular disorders, further propels market growth. The growing aging population in the region is also expected to contribute to the burden of cardiovascular diseases, as the number of individuals aged 65 and above is projected to increase significantly. Consequently, the demand for healthcare tools like Electrocardiographs for accurate cardiac disorder diagnosis and detection is set to surge.
Competition Scenario in the Electrocardiograph Market
Key players in the Electrocardiograph market are actively engaged in product development, service offerings, and growth strategies such as acquisitions, collaborations, and partnerships to strengthen their market positions. For instance, in 2022, AliveCor introduced the KardiaMobile Card, a slim and convenient electrocardiograph device that fits in regular wallets and provides instant heart health analysis. Philips launched a full-service 12-lead electrocardiograph solution for at-home use the same year, while HeartBeam Inc. secured a patent for its 12-lead electrocardiograph patch monitor.
In September 2022, Biotronik announced a strategic collaboration with AliveCor to leverage AI-enabled solutions in cardiac digital health. This collaboration aims to provide healthcare providers with actionable reports for heart rhythm analysis, monitor at-risk individuals, identify arrhythmias, and improve patient care. Additionally, CompuMed expanded its mobile electrocardiograph portfolio in May 2020 by enhancing cooperation with GE Healthcare and AliveCor.
Prominent players in the Electrocardiograph market include GE Healthcare, Schiller AG, Biotronik, Nihon Kohden Corporation, Shenzhen Mindray Bio-Medical Electronics Co. Ltd., Philips Healthcare, OSI Systems Inc., Medtronic PLC, CompuMed, Biotelemetry, AliveCor, and Hill-Rom Holdings Inc.
Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2023-2030 By Product, Technology, Grade, Application, End-user, Region: (North America, Europe, Asia Pacific, Latin America and Middle East and Africa) https://www.fairfieldmarketresearch.com/report/electrocardiograph-ecg-market
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