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ECG Systems Market - Global Industry Analysis, Size, Share, Growth 2024

09-12-2017 09:44 AM CET | Health & Medicine

Press release from: Transparency Market Research - Medical Devices

ECG Systems Market

ECG Systems Market

The global market for ECG systems is gaining traction from a number of factors, such as increasing incidences of lifestyle inflicted diseases, prevalence of cardiovascular diseases, technological advancements in electrocardiography systems, growing need for remote monitoring to reduce cost and serve growing population of geriatrics, and government regulations in various developed and developing countries that favor the ECG devices. On the other hand, the market for ECG systems is facing challenge from unstable economic conditions in various potential country-wide markets, saturation of the market, and undefined reimbursement policies. Nevertheless, the vendors operating in the global ECG systems market are expected to find new opportunities in the emerging economies, particularly in Asia Pacific, and gain ground over the competition via merger and acquisitions as well as joint ventures.

As far as the competitive landscape of the global ECG systems market is concerned, presence of several established players makes it highly intense and advent of new products that offer improved efficiency and accuracy will help them increment their market shares. For instance, CardioComm Solutions, Inc. launched a new product called HeartCheck PEN, which works on bluetooth wireless connectivity to gain data from Andriod and iOS smartphones. Around the same time, Philips has unveiled its Efficia ECG100, which is primarily a cost-effective cardiograph that aids in enhancing patient care and also reduces healthcare costs. This report on the global ECG systems market overviews the current scenario and estimates the future state until 2024, based on in-depth analysis of the factors that may influence the demand. The report also contains profiles of a number of key players in order to represent the opportunities for new vendors and recent strategic developments.

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Global ECG Systems Market

Electrocardiography (ECG) is a way of measuring the electrical activity of the heart. During each heartbeat, cardiac muscles undergo depolarization, creating a small electrical charge. This charge, the frequency and magnitude of which serves as a sign of heart health, is detected via electrodes on the chest and limbs. ECG systems allow cardiologists to diagnose several cardiac conditions, such as arrhythmias, congenital cardiac problems, and poor blood supply. The ease of conducting an ECG test has led to it becoming widely used for primary cardiologic diagnosis.

Global ECG Systems Market: Drivers

The primary driver for the global ECG systems market is the increasing prevalence of cardiovascular diseases. The increasing acceptance of the Western lifestyle in developing regions such as Asia Pacific and Latin America has led to an increasing prevalence of lifestyle disorders such as diabetes and obesity, which are major risk factors for cardiovascular diseases. Cardiac diseases are already among the deadliest groups of diseases across the world and are expected to increase in morbidity in the coming years due to the increasingly sedentary lifestyle of the modern populace. This will likely propel the global ECG systems market at a brisk pace.

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Steady technological innovation in medical devices, required to iron out the tiniest of flaws and make vital medical devices as precise as possible, has led to the development of advanced ECG systems that monitor cardiac activity with a high degree of precision. This has made diagnosis through ECG systems increasingly reliable, consequently increasing patient confidence and thus driving the global ECG systems market.

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