The global ECG market is currently at a stable stage in the market with certain periodic technological innovations and improvements taking place in device features and characters over the time. This market with a large number of device manufacturers is highly fragmented and competitive.

This report studies the global ECG equipment market in terms of 3 segmentations: products, end-user applications and lead type. Based on end-user applications, this market is studied for hospital ECG monitors and ambulatory care ECG monitors.

In terms of product types, the ECG equipment market is classified into resting ECG systems, stress ECG systems and holter monitors. Moreover, on the basis of led types, the global ECG equipment market is studied for single-lead devices, 3-6 lead devices and 12 lead devices markets. Each of these segments thus mentioned are further studied and forecasted for their geographical segmentation namely, North America, Europe, Asia Pacific and Rest of the World. The market size of each of these segments and forecast is provided for the period 2012-2023 with forecast CAGR for the period 2015-2023, considering 2014 as the base year.

Furthermore, in terms of regional distribution., the global ECG equipment market is studied for North America, Europe, Asia Pacific, Middle East and Africa and Central and South America. Additionally, each of tees regions is further studied for national constituent markets in the considered regions.

This report concludes with company profiles section, which includes key information of 15 major market players operational in the global ECG equipment market.

Product Type Investigation Segmentation Investigation

Currently the global ECG equipment market is dominated by resting ECG systems with over 60% market share in 2015. However, the demand is particularly strong for Holter monitoring systems during 2015-2023. The data generated from Holter monitoring systems is utilized in the early detection of cardiac abnormalities like ischemia. With a Holter monitor, an ECG file can be downloaded in 90 seconds. It also allows for different styles of scanning, which can be completed quickly and generates customized and accurate reporting.

The top manufacturers of resting ECG devices include GE healthcare, Cardionet, Compumed Inc, J&J, Welch Allyn and so on.  The companies offer various devices such as Mobile Cardiac Outpatient Telemetry, which enables heartbeatby-heartbeat, ECG monitoring, analysis and response. It enables healthcare providers to connect the heart of patients to the minds of physicians with accurate and reliable ECG information for faster, more accurate diagnosis.

On the other hand, increased patient satisfaction and accuracy of stress ECG programs are expected to drive the market. Direct connectivity to EMR and diagnostic devices enables remote access to patient data and test which results in faster review and diagnosis also leading to better workflow solutions expedite administrative processes, reduced data entry errors.

Lead Type Segmentation Investigation

By lead type the market is currently dominated by 3-6 lead type ECG devices contributing to almost 50% of the market share in 2014. Over the forecasted period both 3-6 lead type and 12 lead type ECG devices are expected to grow at the highest CAGR. However, single lead type devices due to their limitations to cope up with advancing technologies and accurate results are expected to witness reduced market share.

Global ECG equipment by single lead type ECG devices is expected to expand significantly in the next few years due to huge rise in CVD, CHD and other heart diseases. The awareness level has increased over the years due to various social events and promotions by healthcare organizations and companies such as GE healthcare, Conmed, Toshiba and so on.

ECG equipment is segmented on the basis of single-lead, 3-6 lead and 12 lead ECG machine. A single-lead ECG machine enables to measure basic heart rate and symptoms such as chest pain and so on. Single-lead ECG equipment enable to accomplish 12 lead recordings in a sequential manner. Moreover, it also enables to research, arrhythmias and educational purposes. Mostly, single-lead ECG equipment are available for home, personal use and sports. These machines are also used to determine heart rate in association with exercise, sport activities and workout. Single-lead ECG equipment are economic compared 12 lead type ECG equipment. Additionally, single-lead ECG equipment records data for longer period which enables physicians to diagnose disease in better ways. Some other types of ECG machine include 12-lead ECG, 5-lead ECG, 3-Lead ECG, wireless ECG and portable handled ECG monitors.

End-user Application Segmentation Investigation

Among the end users Hospitals are expected to drive the demand for the growing ECG equipment market. With more and more hospitals moving toward computerization for maintaining ECG records, greater investments are being made in data management systems to streamline hospitals' workflow effectively.

In the recovery and rehabilitation of patients suffering from lingering diseases CVD, CHD, Stroke and other heart diseases, ECG equipment are considered to be very effective. However, hospital stay and therapies associated with the treatment may cost very high in developed economies such as the US, UK and Canada.

Global ECG equipment market by home/ambulatory care is expected to expand significantly in the next few years due to huge adoption of technologically advanced ECG equipment. ECG products such as BP monitor, ECG for home care are adopted extensively in Homecare market. Home/ambulatory care includes patients who are aged and suffering from lingering diseases such as CVD, CHD, Stroke or other heart diseases. Home Care is not only limited to elderly patients who are suffering from life style oriented diseases, health-conscious individuals also adopts home care.

Geography Segmentation Analysis

North America is expected to be the largest regional market through 2023 with nearly over 40% market share. On the other hand, Asia Pacific is the fastest growing region with a CAGR of 6.6% during 2015-2023. With the development of better and safer ECG devices, which are portable, operate with lower power consumption and are more accurate, the market will be witnessing growth in resting ECG and Holter monitor systems. Across the world, cardiovascular diseases are monitored via resting systems and since these are developed on large scale in the US it results in high sales. Stress systems for ECG readings follow the resting system pattern that has higher selling price than average although demand for Holter systems is increasing rapidly. Even the digital ECG systems are gaining popularity in now due to their low cost, accuracy and ability to store huge numbers of readings from the patient records.

Historical & Forecast Period

This study report represents analysis of each segment from 2022 to 2032 considering 2023 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2024 to 2032.

The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.

Research Methodology

The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of ECG Equipment market are as follows:

• Research and development budgets of manufacturers and government spending
• Revenues of key companies in the market segment
• Number of end users and consumption volume, price and value.
• Geographical revenues generate by countries considered in the report
• Micro and macro environment factors that are currently influencing the ECG Equipment market and their expected impact during the forecast period.

Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.

Key questions answered in this report

• What are the key micro and macro environmental factors that are impacting the growth of ECG Equipment market?
• What are the key investment pockets with respect to product segments and geographies currently and during the forecast period?
• Estimated forecast and market projections up to 2032.
• Which segment accounts for the fastest CAGR during the forecast period?
• Which market segment holds a larger market share and why?
• Are low and middle-income economies investing in the ECG Equipment market?
• Which is the largest regional market for ECG Equipment market?
• What are the market trends and dynamics in emerging markets such as Asia Pacific, Latin America, and Middle East & Africa?
• Which are the key trends driving ECG Equipment market growth?
• Who are the key competitors and what are their key strategies to enhance their market presence in the ECG Equipment market worldwide?