ECG Management Systems Market: Shares and Strategies For Key Industry Players By 2020

ECG management systems are web based systems used for management of data by automating the processing, distribution and storage of ECG, Holter monitors and other stress data acquired from multiple sources. ECG management systems are designed such that they provide the capability to store, review, edit and transmit the ECGs from the doctor’s office assisting doctors to monitor patient from remote locations.

The market for ECG management system is growing rapidly as the hospitals are striving to increase their efficiency, reduce costs and improve the diagnosis by connecting ECG management systems. The rising number of ECGs with the increasing number of patients suffering from cardiovascular diseases is demanding for more managed systems in the hospitals, hence driving the market.

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According to World Health Organization, approximately 17.5 million people died from cardiovascular diseases in 2012 representing 31% of the overall deaths globally. It has been estimated that 7.4 million deaths among these were due to coronary heart diseases while stroke amounted to 6.7 million deaths. High incidence of cardiovascular diseases is leading to increased diagnosis and rise in the demand for ECG and ECG management systems. However, high cost of the device restricts the public hospitals and small scale hospitals in emerging economies of Asia Pacific and Rest of the World regions in purchasing expensive ECG management systems.

Geographically, ECG management systems market has been segmented into four regions: North America, Europe, Asia Pacific and Rest of the World (RoW). North America followed by Europe dominates the ECG management systems owing to strong economic conditions, availability of appropriate healthcare infrastructure and high prevalence of cardiovascular diseases. Centers for Disease Control and Prevention (CDC) reports of 2014 suggested that stroke kills approximately 130,000 Americans every year, killing one American in every four minutes. Excessive alcohol intake and smoking habits are the major reasons which are leading to high prevalence rate of cardiovascular diseases.

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High prevalence of cardiovascular diseases is resulting in more diagnostic tests leading to excessive demand for ECG systems and subsequently ECG management systems. Asia Pacific however is estimated as most opportunistic market for ECG management systems during forecast period. Increasing number of hospitals, rising awareness about available management systems, and increasing prevalence of cardiovascular diseases are major factors which are propelling the growth of ECG management systems in this region. According to the Central Bureau of Health Intelligence, the number of government hospitals in India has increased from 4,571 in 2000 to 11,993 in 2011. Moreover, Neo CarDiabCare, company dedicated in advancing the practice of medicine, stated that in 2014, one fifth of the deaths in India occurred from coronary heart diseases and it has been estimated that coronary heart disease will account for one fifth of the total deaths by 2020. Increasing number of hospitals coupled with the rising prevalence of cardiovascular diseases will lead to increased diagnostic procedures, hence accentuating the ECG management systems market.

Market players such as Philips Healthcare, GE Healthcare, Cardiac Science Corporation, CardioComm Solutions, Inc., Norav Medical, Nihon Kohden Corporation, Mortara Instrument and Suzuken Kenz provides ECG management systems in their portfolio. GE Healthcare dominates the market with approximately 45% of the market followed by Philips Healthcare and Cardiac Science Corporation. These players are focusing on expanding their distribution network as well as expanding their geographical presence in the regions of Asia Pacific, Middle East and Latin America to capture more market share and strengthen their position globally.

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