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Impact Of Global Heart Disorder Prevalence On The Diagnostic Electrocardiograph Market: Powering Innovation and Expansion in the Diagnostic Electrocardiograph Market by 2025
Diagnostic Electrocardiograph
What Is the Expected CAGR for the Diagnostic Electrocardiograph Market Through 2025?
The market for diagnostic electrocardiographs has seen a robust growth in the past few years. The market value is predicted to increase from $8.12 billion in 2024 to $8.7 billion in 2025, equating to a compound annual growth rate (CAGR) of 7.2%. Factors contributing to the growth during the historic period include an aging global population, a rise in cardiovascular disease occurrence, an upward trend in global healthcare spending, heightened awareness and screening initiatives for cardiovascular health, as well as regulatory support for early detection and management of heart-related conditions.
What's the Projected Size of the Global Diagnostic Electrocardiograph Market by 2029?
Anticipated robust expansion is projected for the diagnostic electrocardiograph market in the forthcoming years, with the size poised to reach $11.39 billion in 2029, registering a compound annual growth rate (CAGR) of 6.9%. This expected growth during the forecast period is largely due to the establishment of expanded healthcare infrastructure in developing markets, implementation of regulatory efforts, heightened health awareness and proactive health management among consumers, increased financial input in healthcare, and a growing aging population. The forecast period is set to witness key trends such as the incorporation of artificial intelligence (AI), portable and wireless ECG devices, the embracing of telehealth, developments in wearable ECG technology, and bespoke medicine.
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Top Growth Drivers in the Diagnostic Electrocardiograph Industry: What's Accelerating the Market?
The global rise in heart diseases is set to fuel the expansion of the diagnostic electrocardiograph market. Heart diseases cover various conditions that impact the cardiovascular system, such as arrhythmias, heart attacks, congenital defects, and heart failure. The incidence of heart diseases is linked to numerous elements like aging demographics, inactive lifestyles, and poor diet patterns, all contributing to the growth of obesity and hypertension, two major triggers for heart diseases. Diagnostic electrocardiography (ECG) is instrumental in increasing global heart disease prevalence by facilitating early identification, monitoring, and control of cardiac diseases through non-invasive electrical activity evaluations. As an example, the American Heart Association, a non-profit organization based in the US, reported in January 2024 that there was a minor rise in the total death tally in the cardiovascular sector this year, reaching 931,578, signifying a small increase of 3,000 deaths compared to 928,741, the previous year's figure. As a result, the global increase in heart disease prevalence is expected to spur the growth of the diagnostic electrocardiograph market.
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What Trends Will Shape the Diagnostic Electrocardiograph Market Through 2029 and Beyond?
Prominent firms in the diagnostic electrocardiograph industry are concentrating on cutting-edge technologies like AI-powered ECG systems to improve accuracy and efficiency in identifying heart-related ailments. By integrating a sophisticated artificial intelligence system into an ECG device, diagnostics in cardiovascular healthcare environments are enhanced. For example, in June 2024, AliveCor, a US-based company specializing in medical technology, introduced its KAI 12L AI technology in tandem with the Kardia 12L ECG System. This revolutionary development is the first AI in the world that can identify severe cardiac conditions, including heart attacks, through a simplified leadset. This new ECG System, utilizing proprietary technology, stands as the world's first handheld 12-lead ECG system powered by AI, with a unique single-cable design.
What Are the Main Segments in the Diagnostic Electrocardiograph Market?
The diagnostic electrocardiograph market covered in this report is segmented -
1) By Product And Service: Resting Electrocardiogram (ECG), Stress Electrocardiogram (ECG) Devices, Holter Monitors, Implantable Loop Recorders, Event Monitors, Mobile Cardiac Telemetry (MCT) Devices, Smart Electrocardiogram (ECG) Monitors
2) By Lead Type: 12 Lead, 5 Lead, 3 Lead, Other Lead Types
3) By End-User: Hospitals, Clinics And Cardiac Centers, Ambulatory Surgical Centers, Other End Users
Subsegments:
1) By Resting Electrocardiogram (ECG): 1-Channel ECG, 3-Channel ECG, 6-Channel ECG, 12-Channel ECG
2) By Stress Electrocardiogram (ECG) Devices: Treadmill Stress ECG, Bicycle Stress ECG, Pharmacological Stress ECG
3) By Holter Monitors: 24-Hour Holter Monitor, 48-Hour Holter Monitor, 7-Day Holter Monitor
4) By Implantable Loop Recorders: Subcutaneous Implantable Loop Recorders, Leadless Implantable Loop Recorders
5) By Event Monitors: Handheld Event Monitors, Wearable Event Monitors
6) By Mobile Cardiac Telemetry (MCT) Devices: Real-Time Monitoring MCT Devices, Non-Real-Time Monitoring MCT Devices
7) By Smart Electrocardiogram (ECG) Monitors: Smart ECG Monitors With Mobile Connectivity, Smart ECG Monitors With Cloud Integration, Wearable Smart ECG Devices
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Which Top Companies are Driving Growth in the Diagnostic Electrocardiograph Market?
Major companies operating in the diagnostic electrocardiograph market are Koninklijke Philips N.V., GE Healthcare Inc., Suzuken Company Limited, Mindray Medical International Limited, Nihon Kohden Corporation, OSI Systems Inc., Fukuda Denshi Co. Ltd., Midmark Corporation, BTL Group of Companies, BioTelemetry Inc., Spacelabs Healthcare Inc., Welch Allyn Inc., Schiller AG, CardioNet Inc., VectraCor Inc., BPL Limited, SunTech Medical Inc., Mortara Instrument Inc., Allengers Medical Systems Limited, Bionet Co. Ltd., ScottCare Corporation, Nasiff Associates Inc., Compumed Inc., Norav Medical, Nexus Lifecare Pvt. Ltd.
Which Regions Will Dominate the Diagnostic Electrocardiograph Market Through 2029?
North America was the largest region in the diagnostic electrocardiograph market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the diagnostic electrocardiograph market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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