Research Nester published a report titled “ECG Devices Market: Global Demand Analysis & Opportunity Outlook 2035” which delivers detailed overview of the global ECG devices market in terms of market segmentation by product and service, lead type, end user, and by region.
Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, supply and demand risk, along with detailed discussion on current and future market trends that are associated with the growth of the market.
The global ECG devices market is anticipated to grow with a CAGR of ~7% during the forecast period, i.e., 2023-2035. The market is segmented by end user into hospitals, clinics & cardiac centers, ambulatory surgical centers, and other end users. Out of these, the hospitals segment is anticipated to garner the largest revenue by the end of 2035 backed by the increased utilization of ECG devices in cardiac settings within hospitals. Moreover, A growing number of physicians relying on ECG tests for diagnosing and treating heart failure patients is projected to fuel segment growth.
The global ECG devices market is estimated to garner revenue of USD 12 Billion by the end of 2035, up from revenue of USD 6 Billion in the year 2021. Increasing health care expenditures worldwide, an increase in heart disease incidence, and an increase in exports of ECG devices are some of the major factors anticipated to drive the growth of the market during the forecast period. Furthermore, government regulations promoting the use of monitoring devices, increased R&D activities, and advances in healthcare facilities are expected to fuel the global ECG devices market over the forecast period.
Geographically, the global ECG devices market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. Out of these, the market in Asia Pacific is projected to garner the largest revenue by the end of 2035 backed by the increasing number of key players in the region, the large presence of geriatrics, as well as improved health care infrastructure are expected to drive the regional market during the forecast period.
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The research is global in nature and covers detailed analysis on the market in North America (U.S., Canada), Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC [Finland, Sweden, Norway, Denmark], Poland, Turkey, Russia, Rest of Europe), Latin America (Brazil, Mexico, Argentina, Rest of Latin America), Asia-Pacific (China, India, Japan, South Korea, Indonesia, Singapore, Malaysia, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of Middle East and Africa). In addition, analysis comprising market size, Y-O-Y growth & opportunity analysis, market players’ competitive study, investment opportunities, demand for future outlook etc. has also been covered and displayed in the research report.
Growing Incidence of Cardiovascular Diseases (CVDs) Worldwide to Drive the Market Growth
The World Health Organization estimates that 17.9 million people worldwide die from cardiovascular diseases every year, which is 32% of all deaths in the world. Heart attacks and strokes account for almost 85% of all CVD deaths.
CVDs lead to the highest rate of death and are one of the most common medical conditions. Since ECG devices are easy to use and quickly detect CVDs, they have grown in popularity in recent years. Individuals who are at risk of contracting heart disease undergo ECG tests to reduce the risks associated with heart disease. Therefore, the higher prevalence of cardiovascular diseases among a large number of people is predicted to augment the global ECG devices market in the forecast period.
However, shortage of skilled professionals to use ECG devices and strict regulatory requirements for device approval are expected to operate as key restraint to the growth of global ECG devices market over the forecast period.
This report also provides the existing competitive scenario of some of the key players of the global ECG devices market which includes company profiling of GE Healthcare, SCHILLER, Nihon Kohden Corporation, Ambu A/S,Medtronic, Koninklijke Philips, ACS Diagnostics, Hill-Rom Holdings, BPL Medical Technologies, and BioTelemetry, Inc. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global ECG devices market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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