Press release
The Global ECG Equipment Market to Develop with CAGR of 5.64% by 2028
ECG Equipment Market
Triton's report suggests that the Global ECG Equipment Market would evolve at a CAGR of 5.64% over the forecast years from 2021 to 2028.
A number of governments across the world are supporting the training of doctors, surgeons, and other medical staff, to help them gain expertise in using upgraded devices for ECG monitoring. Also, several laws and regulations have been formulated to accommodate better research & development and product innovation. This is majorly fueling the growth of the market studied. Regulatory bodies can recall products due to safety issues or defects in the product, which can prove fatal for human health. this is severely hampering the ECG equipment market growth.
The market in the Asia-Pacific is expected to grow the fastest globally, in the coming years. Advancements in technology, such as remote monitoring, increased healthcare expenditure, and support regulations & policies, are expected to drive the growth of the market in this region. Also, nations such as China and India have a vast population that is susceptible to heart diseases, which is enhancing the demand for ECG equipment in the region.
Fukuda Denshi Co Ltd, McKesson Corporation, Mindray Medical International Limited, Bionet Co Ltd, Nihon Kohden Corporation, Zoll Medical Corporation (acquired by Asahi Kasei), GE Healthcare, CompuMed Inc, Siemens Healthineers AG, Schiller AG, Philips Healthcare, Spacelabs Healthcare (subsidiary of OSI Systems Inc), BioTelemetry Inc, Hill Rom Holdings Inc, and Medibiosense Ltd are the eminent names present in this industry.
The established names in the industry are focusing on the changing customer demands and are upgrading and innovating their product portfolio to meet the dynamic trends in the market. Given their stronghold in the market, these companies pose a significant threat to the new entrants. Besides, as ECG equipment is a niche market, the entry barriers for aspiring companies are high.
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