The global electrocardiography test market size is expected to reach USD 9.44 Billion in 2028 and register a CAGR of 5.8%, according to the latest report by Reports and Data. Advancements in the healthcare sector, introduction of portable devices, and increasing adoption of Artificial Intelligence (AI) in medical devices are key factors driving global market revenue growth.
An electrocardiography test (ECG) is an instrument that records electric activity of the heart. Increasing incidence of cardiovascular diseases such as stroke, ischemic heart disease, atrial fibrillation, heart failure, peripheral artery diseases, and other complications and rising need for cardiac monitoring devices is boosting demand for electrocardiography tests. Increasing adoption of sedentary lifestyle, increasing geriatric population, unhealthy eating habits, excess consumption of alcohol and availability of advanced EGC devices, and high adoption of ambulatory surgical centers are boosting global market growth. In addition, improving healthcare infrastructure, favorable reimbursement scenario, and increasing healthcare expenditure are also fueling market revenue growth. Favorable government support, improving healthcare facilities, and increasing investments to develop enhanced products are expected to fuel global market growth in the coming years.
Top Companies Profiled in the Report Include:
Mortara Instrument, INC., GE Healthcare (General Electric Company), Mindray Medical International Limited, Medtronic, OPTO Circuits Limited, OSI Systems Fukuda Denshi CO LTD, Philips Healthcare (Koninklijke Philips N.V.), Schiller AG, Spacelabs Healthcare and Nihon Kohden Corporation.
Electrocardiography test Market Overview:
The pharma and healthcare industry has undergone a revolutionary change owing to the COVID-19 pandemic with individuals increasing their focus on health and wellness. Companies operating in the industry have invested heavily in clinical trials and research studies to develop medications to cater to the growing unmet clinical demand on a global level. Implementation of cutting-edge technology in healthcare sector and increasing investment in research and development have contributed significantly to revenue growth of the market in the recent past. In addition, availability of favorable health insurance and reimbursement policies have also positively impacted the healthcare sector with more and more individuals opting to get treatment at hospital and clinical facilities. Rapid development of novel drugs and pharmaceuticals, increasing incidence of lifestyle and chronic diseases, establishment of state-of-the-art healthcare facilities, and rising availability of over-the-counter medications have significantly contributed to the revenue growth of the market.
Major Highlights of the Electrocardiography testy tests Market Report:
- Among the lead type, the 3-6 lead segment is expected to account for significant revenue growth between 2021 and 2028. Ability of 3-6 lead to rapidly identify injury, low cost, and high-efficiency rate are key factors fueling market growth.
- Based on device type, the Holter monitor segment is expected to account for steady revenue growth over the forecast period owing to factors such as portability, increasing demand for ambulatory centers, 24-48 hour patient monitoring and high adoption of Holter monitors in these services.
- The smart wearable ECG monitors segment is projected to register highest revenue CAGR over the forecast period. Factors such as increasing prevalence of cardiovascular diseases, rising healthcare awareness, increasing need for tracking conditions of the heart, and cost-effectiveness of the product are fueling segment revenue growth.
- The hospital segment is projected to account for largest revenue share throughout the forecast period. Increasing prevalence of cardiovascular diseases, well-developed infrastructure, and availability of advanced equipment are booting segment revenue growth.
- Electrocardiography testy test market in North America is expected to account for largest revenue growth during the forecast period. Rising incidence of cardiovascular diseases, well-established healthcare infrastructure, availability of advanced EGC monitoring devices and portable EGC devices, and increasing investments in RD are key factors fueling market growth.
- Asia Pacific is projected to register highest CAGR over the forecast period. Factors such as rising geriatric population, improving healthcare systems, increasing cases of various cardiovascular diseases, and rising per capita income are boosting market revenue growth.
- Mortara Instrument, INC., GE Healthcare (General Electric Company), Mindray Medical International Limited, Medtronic, OPTO Circuits Limited, OSI Systems Fukuda Denshi CO LTD, Philips Healthcare (Koninklijke Philips N.V.), Schiller AG, Spacelabs Healthcare and Nihon Kohden Corporation are leading companies operating in the global electrocardiography testy test market.
Additionally, the report consists a detailed analysis of the segmentation of the Electrocardiography testy tests Market based on product types and end-use/application offered in the Electrocardiography testy tests Market –
Device Type Outlook (Revenue, USD Billion, 2020 - 2028)
- Stress ECG
- Holter Monitors
- Wireless Holter Monitors
- Wired Holter Monitors
- Resting ECG
Technology Type Outlook (Revenue, USD Billion, 2020 - 2028)
- Automatic Diagnosis and Anatomical Detection
- Mobile Cardiac outpatient telemetry (MCT/MCOT)
- Electronic ECG management system
- Smart Wearable ECG Monitors
- Artificial Intelligence
Lead type Outlook (Revenue, USD Billion, 2020 - 2028)
- Single Lead
- 3-6 Lead
- 12-Lead
Distribution channel Type Outlook (Revenue, USD Billion, 2020 - 2028)
- Offline
- Online
Application Type Outlook (Revenue, USD Billion, 2020 - 2028)
- Atrial Fibrillation
- Ventricular Fibrillation
- Myocardial ischemia
- Myocardial infarction
- Hyperkalemia
- Hypokalemia
End-use Outlook (Revenue, USD Billion, 2020 - 2028)
- Hospitals
- Ambulatory Surgical Centers
- Homecare Settings
Key Regional Markets Studied in the Report:
- North America (U.S., Canada)
- Europe (U.K., Italy, Germany, France, Rest of EU)
- Latin America (Chile, Brazil, Argentina, Rest of Latin America)
- Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
- The Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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