Press release
ECG Market in South Korea to Gain a Stronghold during forecast period 2018 to 2025 | Schiller AG, Nihon Kohden Corporation
South Korea ECG Market
The research report published by Allied Market Report states that the South Korea Electrocardiograph (ECG) devices market is estimated to reach $7.69 million by 2025. The report provides an in-depth analysis of growth factors, opportunities, market trends, key segments, and competitive landscape. Current market conditions and the future scenario of various regions have been analyzed in the report to help market players in devising expansion strategies. Moreover, it includes country-wise analysis of each region. Product portfolio and business segments of leading market players outline the competitive scenario. The report provides insights to help investors, stakeholders, and new entrants to determine potential opportunities and tap on them to gain competitive advantage.
Electrocardiograph (ECG) devices are used to record the heart activities through electric signals. These devices are amplified on the ECG monitor. These are essentially adopted across various medical set-ups to diagnose different types of heart diseases and arrhythmias in people; thereby, assisting the appropriate therapy for patients suffering from cardiovascular diseases (CVD).
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The key factors that drive the market growth include increase in number of CVD patients across South Korea and rise in demand for monitoring systems and portable cardiac rhythm management. In addition, surge in the geriatric population and favorable government regulations regarding the ECG devices supplement the market growth in South Korea. However, high costs associated with sophisticated ECG devices and increase in threat of market saturation are the factors anticipated to restrict the market growth. Conversely, increase in development of wireless communication and cloud computing is expected to provide lucrative opportunities for the growth of the market.
The South Korea ECG market is segmented into product, lead, and end user. Based on product, the market is divided into resting ECG, stress ECG, and Holter monitors. The Holter monitors are further bifurcated into wired and wireless Holter monitors. Based on lead, the market is classified into single lead, 3-6 lead, and 12-lead. Based on end user, it is categorized into hospitals & clinics, home settings & ambulatory surgical centers (ASCs), and others.
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The hospitals segment led the market with more than two-thirds of the market share in 2017. Electrocardiographs devices majorly find application in most of the hospitals, as they are a useful modality. Sophisticated monitoring systems equipped with high-definition display systems have revolutionized the medical sector, especially wearable ECG systems, by enhancing monitoring efficiency and portability.
The Major Key Players Are:
Schiller AG, Nihon Kohden Corporation, Hill-Rom Holdings, Inc. Corporation, General Electric Company, Medtronic Plc, Koninklijke Philips N.V., Mediana Co., Ltd., Bionet Co., Ltd, OSI Systems, Beijing Choice Electronic Technology Co., Ltd. (ChoiceMMed), Mindray Medical International Limited
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Allied Market Research (AMR) is a market research and business-consulting firm of Allied Analytics LLP, based in Portland, Oregon. AMR offers market research reports, business solutions, consulting services, and insights on markets across 11 industry verticals. Adopting extensive research methodologies, AMR is instrumental in helping its clients to make strategic business decisions and achieve sustainable growth in their market domains. We are equipped with skilled analysts and experts, and have a wide experience of working with many Fortune 500 companies and small & medium enterprises.
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