Dublin, Jan. 30, 2024 (GLOBE NEWSWIRE) -- The "Diagnostic Electrocardiograph (ECG) Market by Product (Resting ECG, Stress, Mobile Cardiac Telemetry Device, Implantable Loop Recorder) and Service, Lead Type (12-Lead, 6-Lead, 5- Lead), End User, and Region - Global Forecast to 2028" report has been added to ResearchAndMarkets.com's offering.
The global diagnostic electrocardiogram (ECG) market is anticipated to experience robust growth in the coming years. A recent market analysis projects the value to climb from USD 8.1 billion in 2023 to USD 11.3 billion by 2028, advancing at a compound annual growth rate (CAGR) of 6.9% during the forecast period.
This expansion is credited to various factors including the increased prevalence of cardiovascular diseases, the rising demands for early cardiac disease diagnosis, and technological advancements in the ECG sector.
The Resting ECG Devices Segment Leads Market Share
In 2022, the resting ECG devices segment dominated the market due to their prevalent use in hospitals and the availability of cost-effective options. The devices and software & services within the diagnostic ECG market saw resting ECG, stress ECG devices, Holter monitors, implantable loop recorders, and mobile cardiac telemetry devices among the products contributing to this segment's growth.
12-Lead ECG Devices Garner Largest Market Share
Diverse ECG devices based on lead type have unique applications, but the 12-lead ECG devices captured the largest market share in 2022. 12-lead ECGs are known for their detailed cardiac activity representations, paramount in accurate diagnosis and treatment.
Hospitals, Clinics, and Cardiac Centers: Major Market End-Users
The hospitals, clinics, and cardiac centers, encompassing the largest proportion of the ECG market end-users, saw remarkable demand due to the rising incidence of cardiovascular conditions and growing sector investments. These establishments are essential in providing comprehensive services aided by sophisticated ECG technologies.
Asia Pacific Emerges as the Fastest-Growing ECG Market
While North America continues to maintain its stronghold on the ECG market, the Asia Pacific region is quickly catching up. This surge is driven by increasing healthcare expenditures, an expanding patient pool for cardiovascular diseases, and rising disposable incomes. These factors are propelling the region's remarkable CAGR during the market forecast period. The primary participants providing insights into this comprehensive report largely consist of influential company representatives across various tiers and regions, ensuring a broad perspective of the market dynamics.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 176 |
| Forecast Period | 2023 - 2028 |
| Estimated Market Value (USD) in 2023 | $8.1 Billion |
| Forecasted Market Value (USD) by 2028 | $11.3 Billion |
| Compound Annual Growth Rate | 6.9% |
| Regions Covered | Global |
Report Highlights
- Analysis of Strong Drivers for Market Growth
- Assessment of Market Penetration by Top Players
- Insights on Product Development and Innovations
- Expansive Coverage of Lucrative Emerging Regions
- Comprehensive Data on Market Diversification Efforts
- In-depth Competitive Analysis of Market Segments
Companies Mentioned
- ACS Diagnostics
- Alivecor, Inc.
- Allengers Medical Systems Ltd.
- Biomedical Instruments Co. Ltd.
- Bionet
- Bittium
- Borsam Biomedical Instruments Co., Ltd.
- BPL Medical Technologies
- BTL
- Cardiac Insight, Inc.
- Fukuda Denshi
- GE Healthcare
- Hill-Rom Holdings, Inc. (Baxter International Inc.)
- Irhythm Technologies, Inc.
- Koninklijke Philips N.V.
- Lifesignals, Inc.
- Meditech Equipment Co. Ltd.
- Midmark Corporation
- Mindray Medical International Limited
- Nasiff Associates, Inc.
- Nihon Kohden Corporation
- OSI Systems, Inc.
- Schiller Ag
- Vectracor
- Vitalconnect
For more information about this report visit https://www.researchandmarkets.com/r/ibso9i
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