Diagnostic ECG Market : Demand, Future Innovation and Challenges In the Industry

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According to the new market research report Diagnostic ECG Market By Product (Resting ECG, Stress, Mobile Cardiac Telemetry Device, Implantable Loop Recorder) and Service, By Lead Type (12-lead, 6-lead, 5- lead), End User, and Region – Global Forecast to 2024″, published by MarketsandMarkets™, the global Diagnostic Electrocardiograph Market is expected to reach USD 10.3 billion by 2024 from USD 7.5 billion in 2019, at a CAGR of 6.4% during the forecast period.

The Factors such as the rising incidence of lifestyle & cardiovascular diseases and increasing geriatric population are expected to propel the growth of the market.

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Market Players:

The Diagnostic Electrocardiograph (ECG) Market is dominated by players such as GE Healthcare (US), Philips Healthcare (Netherlands), Nihon Kohden (Japan), Hill-Rom Holdings (US), and Ambu (Denmark).

The hospitals, clinics, and cardiac centers segment accounted for the largest share of the Diagnostic Electrocardiograph (ECG) Market in 2018

By end user, the market is classified into hospitals, clinics, and cardiac centers; ambulatory surgical centers; and other end users. In 2018, the hospitals, clinics, and cardiac centers segment accounted for the largest share of the market. The large share of this segment can primarily be attributed to the growing burden of cardiovascular diseases, which, in turn, is increasing the need for quality cardiology care.

The 3-lead ECG segment is expected to grow at the highest CAGR in the diagnostic ECG market during the forecast period

By lead type, the diagnostic ECG market is divided into 12-lead, 5-lead, 3-lead, 6-lead, single-lead, and other lead types (15- and 18-lead). The 3-lead segment is expected to grow at the highest CAGR during the forecast period. This positive growth is primarily due to the fact that these leads are used conjointly with various other cardiac diagnostic tests and during medical procedures.

Asia Pacific diagnostic ECG market is expected to grow at the highest CAGR during the forecast period

On the basis of region, the diagnostic ECG market is segmented into North America, Europe, Asia Pacific, and RoW. The Asia Pacific is expected to grow at the highest CAGR during the forecast period. Factors such as growth in the geriatric population, growing incidence of chronic diseases, rising healthcare spending, healthcare reforms for infrastructural development, growing demand for advanced technologies, and less stringent regulations are fueling the demand for diagnostic ECG products and services in this region.

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Mr. Aashish Mehra
MarketsandMarkets™ INC.
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