The
global ECGequipment market is expected to reach USD 6.3 billion by
2022, according to a new report by Grand View Research Inc. The rising
incidences of cardiovascular disorders and government initiatives to make
people aware about health check-ups are expected to boost market growth. In
addition, the change in the medical preference from acute intervention to
preventive care is expected to increase the demand for more accurate and
cost-effective methods for heart monitoring.
U.S. ECG equipment market, by product, 2012 - 2022 (USD Million)
According to the WHO, in 2012, around 17.5
million people died due to cardiovascular diseases. This is due to the late
diagnosis and absence of early symptoms as the patient fails to keep record of
his vital signs.
Owing to the increasing incidences,
government is undertaking various awareness programs. According to the American
Heart Association (AHA), 56% women identified heart disease as a leading cause
of death in 2012 as compared to 30% in 1997.
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Further key findings from the report suggest:
· ECG monitoring equipment
has high future growth potential owing to changing trend towards preventive
care and new product innovation with data integration. In February 2014, Medtronic
launched its FDA approved Reveal LINQ. The upgraded version of Reveal XT offers
patient heart monitoring for three years with 20% more data memory than its
previous version.
· ECG stress testing
systems is one of the dominating segments of the market. The growing need for
flexible stress systems and comprehensive data management is driving the market
for this segment. Quinton 9500 series from Cardiac Science portable system
allows physicians to optimize the examination space and enables more data integrations.
· Holter monitoring
systems is another segment, which is expected to gain significant market share
over the forecast period due to the fact that the system assists in identifying
arrhythmias that takes place during certain activities such as exercise,
stress, bowel movements, sleep, eating, and stress
· 2M Engineering Ltd.
launched the VitaMove 2S ExG movement and ECG-recorder, which is equipped with
3-lead ECG holter, that combines daily activities with heart rate
events/trends, ECG, and derivatives such as Heart Rate Variability (HRV)
· North America dominated
the market in 2014 and is expected to grow at a CAGR of 5.8% over the forecast
period. With major industry players situated in North America, the innovations
and upgrading rates are higher as compared to other regions. In August 2015,
InfoBionic along with Safeguard Scientists raised USD 8 million to
commercialize Mome Kardia. Mome Kardia is a remote patient monitoring system
based on the cloud technology that could be worn around the neck.
· Asia Pacific is expected
to witness substantial growth during the forecast period owing to the rising
incidence rate of heart diseases and growing manufacturing outsourcing in the
region
· According to the
Government of India, the prevalence of heart failure in the nation due to
hypertension, obesity, coronary heart disease, obesity, rheumatic heart
disease, diabetes ranges from 1.3 to 4.6 million and an annual incidence rate
of 491,600 to 1.8 million
· As per a report
published by the Associated Chambers of Commerce and Industry of India
(ASSOCHAM), people have adopted unhealthy lifestyles along with increasing
stress levels, decreasing physical activity, tobacco smoking, and increasing
consumption of saturated fats
· Industry players are
constantly fueling the market with newer technologies or upgrading existing
technology. In May 2015, CardioComm Solutions, Inc. launched HeartCheck PEN.
This Bluetooth wireless connectivity pen could be connected for data
acquisition with Android and Apple smartphones.
· Apart from technology
innovations, many industry players are expanding their global presence by
signing distribution agreements with domestic distributors. In October 2015,
iNeedMD Holdings, Inc. signed a distribution agreement with Clifton Africa Ltd.
This one-year distribution agreement is worth USD 1.5 million.
· Key players of the ECG
equipment market include Medtronic, GE Healthcare, Philips Healthcare, Schiller
AG, Nihon Kohden, CardioComm Solutions, Inc., and Johnson & Johnson.
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Research at:
Grand View Research has segmented the global ECG
equipments market on the basis of product type and region:
ECG equipment type
outlook (Revenue, USD Million, 2012 - 2022)
·
ECG Monitoring Equipment
·
Holter Monitoring
Systems
·
Event Monitoring Systems
·
ECG Stress Testing
Systems
ECG equipment regional
outlook (Revenue, USD Million, 2012 - 2022)
·
North America
o
U.S.
o
Canada
·
Europe
o
UK
o
Germany
o
France
o
Spain
o
Italy
·
Asia Pacific
o
Japan
o
China
o
India
·
RoW
o
Australia
o
Brazil
View press release of this research report by Grand View Research:
About Grand View Research
Grand View
Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco. The
company provides syndicated research reports, customized research reports, and
consulting services. To help clients make informed business decisions, we offer
market intelligence studies ensuring relevant and fact-based research across a
range of industries, from technology to chemicals, materials, and healthcare.
For more information: www.grandviewresearch.com
