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ECG Market CAGR of 12.3% Growth Statistics 2021, Industry Trends, Size, Share, Business Strategies, Emerging Technology, Top-Countries Data, Players Analysis, Demand Status and Forecast 2027
Electrocardiograph (ECG) devices are used to record the heart activities through electric signals. These devices are amplified on the ECG monitor. They 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).The South Korea ECG market was valued at $2.99 million in 2017 and is expected to reach $7.69 million by 2025, registering a CAGR of 12.3% from 2017 to 2025.
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The Centers for Medicare and Medicaid Services report that US healthcare expenditures grew by 4.6% to US$ 3.8 trillion in 2019, or US$ 11,582 per person, and accounted for 17.7% of GDP. Also, the federal government accounted for 29.0% of the total health expenditures, followed by households (28.4%). State and local governments accounted for 16.1% of total health care expenditures, while other private revenues accounted for 7.5%.
This study aims to define market sizes and forecast the values for different segments and countries in the coming eight years. The study aims to include qualitative and quantitative perspectives about the industry within the regions and countries covered in the report. The report also outlines the significant factors, such as driving factors and challenges, that will determine the market’s future growth.
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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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Key Market Benefits for ECG market:
The study provides an in-depth analysis of the ECG devices and instruments, with current trends and future estimations to elucidate the imminent investment pockets.
A quantitative analysis from 2017 to 2025 is discussed to enable the stakeholders to capitalize on the prevailing market opportunities.
Key players are profiled and their strategies are analyzed thoroughly to understand the competitive outlook of the market.
Porter’s five forces model is expected to interpret the bargaining power of suppliers & buyers, threat of new entrants & substitutes, and competition among the key players.
ECG Key Market Segments:
By Product
Resting ECGs
Stress ECGs
Holter Monitors
Wired Holter Monitors
Wireless Holter Monitors
By Lead
Single Lead
3-6 Lead
12 Lead
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By End User
Hospitals & Clinics
Home settings and Ambulatory surgical centers
Others
The list of key players operating in this market includes:
GE Healthcare (General Electric Company)
Bionet Co., Ltd.
Hill Rom Holdings, Inc.
Koninklijke Philips N.V.
Mediana Co., Ltd.
Medtronic Plc.
Mindray Medical International Limited
Nihon Kohden Corporation
OSI Systems Inc.
Schiller AG
CardioComm Solutions, Inc.
AlivCor, Inc.
Qardio, Inc.
Omron Healthcare Europe B.V
Beijing Choice Electronic Technology Co., Ltd. (ChoiceMMed)
The other players included in the value chain analysis (and not included in the report) include:
Trismed Co., Ltd
Johnson & Johnson
Midmark Corporation
Fukuda Denshi Co., Ltd
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What are the aspects of this report that relate to regional analysis?
The report's geographical regions include North America, Europe, Asia Pacific, Latin America, the Middle East, and Africa.
The report provides a comprehensive analysis of market trends, including information on usage and consumption at the regional level.
Reports on the market include the growth rates of each region, which includes their countries, over the coming years.
How are the key players in the market assessed?
This report provides a comprehensive analysis of leading competitors in the market.
The report includes information about the key vendors in the market.
The report provides a complete overview of each company, including its profile, revenue generation, cost of goods, and products manufactured.
The report presents the facts and figures about market competitors, alongside the viewpoints of leading market players.
A market report includes details on recent market developments, mergers, and acquisitions involving the key players mentioned.
Following are the questions answered by the Market report:
What are the goals of the report?
This market report shows the projected market size for the pain management devices market at the end of the forecast period. The report also examines the historical and current market sizes.
On the basis of various indicators, the charts present the year-over-year growth (%) and compound annual growth rate (CAGR) for the given forecast period.
The report includes an overview of the market, its geographical scope, its segmentation, and the financial performance of key players.
The report examines the current state of the industry and the potential growth opportunities in North America, Asia Pacific, Europe, Latin America, and the Middle East, and Africa.
The research report includes various factors contributing to the market's growth.
The report analyzes the growth rate, market size, and market valuation for the forecast period.
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What factors are taken into consideration when assessing the key market players?
The report analyzes companies across the globe in detail.
The report provides an overview of major vendors in the market, including key players.
Reports include information about each manufacturer, such as profiles, revenue, product pricing, and other pertinent information about the manufactured products.
This report includes a comparison of market competitors and a discussion of the standpoints of the major players.
Market reports provide information regarding recent developments, mergers, and acquisitions involving key players.
What are the key findings of the report?
This report provides comprehensive information on factors expected to influence the market growth and market share in the future.
The report offers the current state of the market and future prospects for various geographical regions.
This report provides both qualitative and quantitative information about the competitive landscape of the market.
Combined with Porter's Five Forces analysis, it serves as SWOT analysis and competitive landscape analysis.
It provides an in-depth analysis of the market, highlighting its growth rates and opportunities for growth.
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