Favorable Regulatory Environment enables Global ECG Equipment Market Growth

According to the estimations put forth by Inkwood Research, the Global ECG Equipment Market is predicted to register a CAGR of 5.57% in terms of revenue during the forecasting years of 2021-2028.

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The electrocardiogram (ECG) records electrical signals of the heart. It is a painless and traditional test to determine heart problems. It is often done in a doctor's clinic or hospital room. However, ECG machines are standard equipment in ambulances and operating rooms. Also, some personal devices like smartwatches have ECG monitoring.

Supportive Regulatory Atmosphere fuels Market Growth

Cardiovascular diseases are increasingly contributing to the rising death rates globally. As a result, governments are providing a favorable regulatory environment for the providers of ECG equipment. For instance, as per the CMS 'Office of the Actuary' 2020 projections, in the US, healthcare expenditure is set to project a 5.4% average annual rate from 2019-2028. The CMS has also estimated that healthcare spending will reach $6.19 trillion by 2028.

Furthermore, a substantial part of the US population has some kind of heart disease. This is attributed to lifestyle changes, high cholesterol intake, and excessive alcohol consumption. In addition, the European countries have increased their expenditure percentage with regard to healthcare. Also, many governments are supplementing the training of physicians, staff, and doctors. This will aid them in gaining expertise using advanced devices for ECG monitoring and medical solutions. Moreover, various regulations and laws have been formulated to facilitate enhanced products, research, and development.

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Fastest Growing System: Portable ECG

A portable ECG monitor is convenient, simple to use, low-cost, and hand-held. Its use is as simple as that of measuring blood pressure. With this, cardiac monitoring can be done at home, with measurements being recorded within minutes. Also, using these systems, one can capture cardiac events and save them for analysis later by the doctor. Moreover, the growing demand for telemedicine and home healthcare is boosting the segment's demand.

Major Region: North America

The elderly population graph of the region is evaluated to project upward trends. Also, this demographic is more vulnerable to CVDs like arrhythmias. In addition, the number of hospitals and innovations by market players are on the rise, which offers market growth opportunities. The other growth drivers include technological advancements in ECG devices and the increasing cardiovascular diseases.

The competition is set to be high among market players, with remote cardiac activities becoming more prominent. Also, the companies are projected to explore opportunities across more cities and hospitals at domestic levels. Nihon Kohden Corporation, Hill Rom Holdings Inc, Siemens Healthineers AG, Philips Healthcare, GE Healthcare, etc., are among the major firms in the market.

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