Future Outlook of ECG Telemetry Devices Market Poised to Achieve CAGR of 8.3% by 2023 - AEROTEL MEDICAL SYSTEMS, CARDIAC SCIENCE CORPORATION, GE HEALTHCARE, MEDTRONIC, MINDRAY MEDICAL INTERNATIONAL, NIHON KOHDEN CORPORATION

ECG Telemetry Devices Market Highlights
The global ECG telemetry devices market is expected to grow at a CAGR of 8.3% during the forecast period. ECG telemetry devices are very useful in addressing the requirements of patients, who are extremely vulnerable to cardiac disorders and require continuous medical intervention. These ECG telemetry devices are gaining acceptance and support from the post-coronary care and ambulatory service providers.

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Increase in Cardiovascular Diseases Rates
The world’s population is around 7.5 billion and increasing. And along with the rising population, the number of people in old age is also growing, and the number of deaths due to cardiovascular diseases, is on the rise. Cardiovascular diseases are one of the leading causes of premature death in the world; the cardiac diseases include heart attacks, strokes, and other circulatory diseases. According to the American Heart Association, the number of people living with heart failure increased from 5.7 million (2012) to 6.5 million people (2014). So, every year, the percentage of people living with cardiac diseases is increasing, and thispopulation is expected to use the diagnostic tests, such as the ECG. So, the ECG telemetry devices usage is also expected to increase. Hence the increased cardiovascular disease rate is driving the ECG telemetry market. The factors, like increasing number of homecare monitoring devices and the increase in a number of service providers, are driving the market.

Key Developments in the Market
March 2017: GE Healthcare acquired Monica.

Major Players:
AEROTEL MEDICAL SYSTEMS LTD, CARDIAC SCIENCE CORPORATION, GE HEALTHCARE INC., MEDTRONIC INC., MINDRAY MEDICAL INTERNATIONAL LTD, NIHON KOHDEN CORPORATION, PHILIPS HEALTHCARE, SCHILLER AG, SIEMENS HEALTHCARE, and WELCH ALLYN INC., amongst others.

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Cost Constraint
ECG telemetry devices are high-cost, and this cost is becoming a major restraint for the growth of the market. For example, if continuous monitoring is required for the patient, it costs around $300 or more per night, excluding the bed and hospital costs. So, the cost is becoming a heavy burden for the patients financially, as telemetry beds are quite expensive. Hence, people are not opting ECG telemetry devices, which is hindering the market growth. Also, the continuous need of wireless communication mode is restraining the market growth.

The United States has the Highest Market Share
In North America, the United States is dominating the ECG telemetry devices market, due to the availability of reimbursement policies, government initiatives, and investment in patient healthcare expenditure. Asia-Pacific is expected to record a substantial growth over the forecast period.

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This release was published on openPR.