Diagnostic Electrocardiograph Market Predicted to Garner USD 13.3 Bn by 2032 | CAGR of 5.8%

New York, April 10, 2023 (GLOBE NEWSWIRE) — The global diagnostic electrocardiograph market is estimated to be valued at USD 13.3 billion by 2032 from USD 7.7 billion in 2022 and is expected to exhibit a CAGR of 5.8% during the forecast period 2023 to 2032. A diagnostic ECG is a medical device that aids in diagnosing problems with the heart’s electrical activity. ECG is used to diagnose cardiac murmur, cardiac stress testing, fainting, and myocardial infarction, among other cardiac conditions.

To get additional highlights on major revenue-generating segments, Request a global diagnostic electrocardiograph market sample report at https://market.us/report/diagnostic-electrocardiograph-market/request-sample/

Key Takeaway:

• By Product and Service, the resting ECG devices segment will likely have held the highest market revenue over the forecast period 2023 to 2032.
• By Lead Type, the 3-Lead and 6-Lead ECG devices segment was anticipated to dominate the market.
• By End-User, the hospital segment accounted for the largest revenue share of the market.
• In 2022, North America dominated the market with the highest revenue share of 38.8%.
• Asia Pacific the market with the highest revenue share of 21.2%.
• Asia Pacific will grow at the fastest CAGR from 2023-2032.

Globally, it is estimated that the market for diagnostic electrocardiographs will expand over the forecast period. Expansion of the market is expected to be propelled by rising rates of cardiovascular diseases like hypertension, stroke, IHD, and peripheral artery diseases. In addition, the global diagnostic ECG market is estimated to be driven by favorable reimbursement policies, improved healthcare infrastructure, and an increasing geriatric population. During the forecast period, the diagnostic ECG market is also estimated to grow due to the introduction of ongoing technological advancements and remote monitoring devices in ECG devices. Because emerging nations’ markets are almost saturated, emerging nations have more significant growth opportunities than developed nations. Also, favorable government policies, increasing healthcare costs, and broadly untapped potential markets are estimated to provide abundant growth opportunities for emerging nations.

Factors affecting the growth of the diagnostic electrocardiograph market

There are several factors that can affect the growth of the diagnostic electrocardiograph market. Some of these factors include:

• Significance of Cardiac Diseases: The significance of cardiac diseases drives the market’s growth.
• New Technological Advancements: New technological developments benefit the global diagnostic electrocardiograph market.
• Improved healthcare infrastructure: The improved healthcare infrastructure has propelled the market’s growth.
• An expanding geriatric population: An expanding geriatric population boosts market growth.
• High cost of diagnostic electrocardiographs: The high cost of diagnostic electrocardiographs is the growth-limiting factor for the market.
• Effect of COVID-19 pandemic: COVID-19 cause a negative impact on the global diagnostic electrocardiograph market.

To understand how  diagnostic electrocardiograph market report can bring a difference to your business strategy, Inquire about a brochure at https://market.us/report/diagnostic-electrocardiograph-market/#inquiry

Top Trends in the Global Diagnostic Electrocardiograph Market

The increasing trend for early disease detection will propel the growth of the diagnostic electrocardiograph market. Now a day, individuals are becoming more conscious about their health and prefer better care and diagnosis treatment. This will further boost the growth of the market. Symptoms are not persistent in some patients, on the contrary, they are intermittent. Intermittent symptoms tend to go away or return with time. The healthcare providers endorse a remote or continuous ECG machine for such patients. It monitors the heart rhythm throughout the day.

Market Growth

The global diagnostic electrocardiograph market is estimated to grow during the forecast period. The key factors, such as the increasing geriatric population, a proliferation of lifestyles and cardiovascular disorders, advancements in wearable technology, and others, propel the market’s growth. Developing economies have more opportunities for the market as compared to the developed economies, as their market was nearly exhausted. Emerging countries frequently have medical expenditures, mainly undiscovered future trends, and favorable government policies, all these factors would be beneficial for the growth of the market.

Regional Analysis

North America dominates the global diagnostic electrocardiograph market with a revenue share of 38.8% and is estimated to maintain its dominance throughout the forecast period. Furthermore, during the forecast period 2023-2032, the diagnostic ECG market in NA will also expand because of the increasing number of geriatric populations and rise in income per capita.

The diagnostic electrocardiograph market is estimated to grow significantly in Asia-Pacific due to the increasing population along with the increase in disposable income. Also, the growing healthcare infrastructure is expected to further expand the diagnostic electrocardiograph market in the APAC in the upcoming years. India, Myanmar, China, Brazil, Japan, and other Asian nations comprise the Asia-Pacific region. Due to its rising disposable income, improved healthcare infrastructure, and large population, this region is projected to experience profitable growth. As per the NCBI study, cardiovascular diseases affect more than 290 million people in China. Around 11 million Chinese had coronary heart disease, and 13 million had a stroke.

Competitive Landscape

The market is very competitive due to the presence of several market players. As a result, businesses made significant investments in R&D to stay in the competition. In February 2021, BioTelemetry, Inc. was acquired by Koninklijke Philips NV. The acquisition of BioTelemetry complements Philips’ cardiac care portfolio and its strategy to improve care delivery across the health continuum through integrated solutions.

Have Queries? Speak to an expert, or To Download/Request a Sample, Click here.

Scope of the Report

Market Drivers

The occurrence of cardiac diseases is the key factor driving the global diagnostic electrocardiograph market. Cardiovascular disease is one of the leading causes of death around the globe, as per the World Health Organization. Cardiovascular diseases cause around 18 million deaths yearly or 31% globally. Therefore, diagnostic ECGs are in high demand due to the incidence of cardiovascular diseases and the industry’s growth.

Market Restraints

Clinicians in numerous countries are forced to use older ECG machines rather than the newest ones due to the cost-effectiveness factor. As a result, the diagnostic electrocardiograph market is hampered in developing nations by high purchasing and upkeep costs and a lack of technical expertise.

Market Opportunities

Increased access to novel treatment options and technological advancements will boost the ECG industry. Using a Holter monitor, resting ECG, exercise testing systems, ambulatory ECG, event monitor, pacemaker, and cardio data, management can rapidly treat cases of increasing arrhythmia, cardiomyopathy, and coronary artery disease. In the US, more than 2.6 out of every 1,000 people have pacemakers attached to treat different heart conditions, according to an NCBI study. Pacemakers became more common, as there is an upsurge in the elderly population, with 0.4 per 1000 people in the 18-64 age range using them and 26 per 1000 people in the 65-plus age range. The mobile ECG, home ECG devices, and ECG equipment industries could benefit from the new advanced developments and access to advanced treatment options.

Grow your profit margin with Market.us – Purchase Diagnostic Electrocardiograph Premium Market Report at https://market.us/purchase-report/?report_id=15072

Report Segmentation of the Diagnostic Electrocardiograph Market

Product and Service Insight

The resting ECG devices segment accounted for the highest market share, and it will be the fastest-growing segment over the forecast period 2023-2032. This is mainly due to the more precise and quicker diagnosis that does not require previous preparation. It quickly identifies specific heart conditions like heart hypertrophy, ischemia, myocardial infarction sequelae, cardiac arrhythmias, and myocardial infarction and contribute to the growth of this segment. As per the CDC, myocardial infarction affects around 800,000 people yearly. The remaining 600,000 had myocardial infarction before, while about 600,000 had it for the first time.

Lead Type Insight

3-Lead ECG and 6-Lead ECG devices held the largest share of the global diagnostic electrocardiograph market because they are utilized frequently in several cardiac diagnostic tests. Moreover, its high-efficiency rate and low price contribute to the growth of this market. An NCBI study found that a 3-lead ECG is 96.4% more precise than a 12-lead ECG.

End-User Insight

The hospital market dominated the entire ECG market because of a huge number of hospitals and the high price of purchasing ECG devices. The market segment further dominates due to the increasing number of people seeking hospital treatment and diagnosis for cardiovascular disease. The growth of the market is also enhanced by an increase in expenditure on ECG devices for good cardiac treatment. According to the CDC, in the US, 4.6% of adults have been diagnosed with coronary heart disease. 6.5% of Americans went to the doctor for their cardiovascular conditions. In addition, 7.4% of Americans have sought treatment and diagnosis for these illnesses in emergency rooms.

For more insights on the historical and Forecast diagnostic electrocardiograph market data from 2016 to 2032 – download a sample report at https://market.us/report/diagnostic-electrocardiograph-market/request-sample/

Market Segmentation

By Product and Service

• Stress ECG Devices
• Resting ECG
• Implantable Loop Recorders
• Smart ECG Monitors
• Event Monitors
• Holter Monitors
• MCT Devices

By Lead Type

• Single-lead
• 3-lead ECG Devices
• 5-lead ECG Devices
• 6-lead ECG Devices
• 12-lead ECG Devices
• Other Lead Types

By End-User

• Hospitals
• Ambulatory Surgical Centers
• Clinics & Cardiac Centers
• Other End Users

By Geography

• North America
• Western Europe
  • Germany
  • France
  • The UK
  • Spain
  • Italy
  • Portugal
  • Ireland
  • Austria
  • Switzerland
  • Benelux
  • Nordic
  • Rest of Western Europe
• Eastern Europe
  • Russia
  • Poland
  • The Czech Republic
  • Greece
  • Rest of Eastern Europe
• APAC
  • China
  • Japan
  • South Korea
  • India
  • Australia & New Zealand
  • Indonesia
  • Malaysia
  • Philippines
  • Singapore
  • Thailand
  • Vietnam
  • Rest of APAC
• Latin America
  • Brazil
  • Colombia
  • Chile
  • Argentina
  • Mexico
  • Costa Rica
  • Rest of Latin America
• Middle East & Africa
  • Algeria
  • Egypt
  • Israel
  • Kuwait
  • Nigeria
  • Saudi Arabia
  • South Africa
  • Turkey
  • United Arab Emirates
  • Rest of MEA

Market Key Players

• Koninklijke Philips N.V.
• Bio-Medical Electronics Co.
• Innomed Medical Inc.
• Bionet Co., Ltd.
• Scottcare Corp
• Spacelabs Healthcare Inc
• VectraCor, Inc.
• Allengers Medical Systems, Ltd.
• Other Key Players.

Recent Development of the Global Diagnostic Electrocardiograph Market

• In March 2022, GE Healthcare and AliveCor announced their partnership. Medical professionals can access GE Healthcare’s MUSE system using the KardiaMobile 6L ECG device. By enhancing the integration and quality of patient data, the partnership hopes to decrease cardio-based hospitalizations and improve patient convenience.
• In January 2022, A first-at-home, 12-lead ECG integrated solution for decentralized clinical trials was introduced by Koninklijke Philips. By introducing a new system to reduce the necessity and burden of clinical trials, Koninklijke Philips hopes to improve patient compliance, retention, and trial outcomes.
• In December 2021, Hillrom was purchased by Baxter International, Inc. for USD 12.5 billion. With the Hillrom acquisition, Baxter begins the next phase of its transformation, promising to significantly impact patients, shareholders, employees, clinicians, and other communities it serves worldwide.

Browse More Related Reports:

About Us:

Market.US (Powered by Prudour Pvt Ltd) specializes in in-depth market research and analysis and has been proving its mettle as a consulting and customized market research company, apart from being a much sought-after syndicated market research report-providing firm. Market.US provides customization to suit any specific or unique requirement and tailor-makes reports as per request. We go beyond boundaries to take analytics, analysis, study, and outlook to newer heights and broader horizons.

Follow Us on LinkedIn | Facebook | Twitter

Our Blog: