Rapid technological advancements in portable ECG devices, increase in incidence of cardiovascular diseases across the world, surge in geriatric population, and favorable government regulations to boost the production of cardiac monitoring devices are the major drivers of the global electrocardiograph (ECG) Market. However, high cost of sophisticated ECG devices, favorable economic conditions, and market saturation hamper the market growth. On the contrary, increasing developments regarding wireless communications and cloud computing are expected to create lucrative opportunities in the near future.

Portland, OR, April 24, 2019 (GLOBE NEWSWIRE) -- Allied Market Research recently published a report, titled, “Electrocardiograph (ECG) Market by Product (Resting ECG, Stress ECG, and Holter Monitors), by Lead Type (Single Lead, 3-6 Lead, and 12-Lead), and by End User (Hospitals & Clinics, Home Settings & Ambulatory Surgical Centers (ASCs), and Others) - Global Opportunity Analysis and Industry Forecast, 2017–2023”. According to the report, the global electrocardiograph (ECG) market was pegged at $4.79 billion in 2017 and is expected to reach $6.64 billion by 2023, registering a CAGR of 5.6% during the period 2017–2023.

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Growth Drivers and Industry Trends

Global electrocardiograph (ECG) market is divided into product, lead type, end user, and geography. On the basis of product, the market is segmented into resting ECG, stress ECG, and Holter monitors. The resting ECG segment held the largest share in 2017, contributing more than half of the total market. However, the Holter monitors segment is projected to manifest the fastest CAGR of 9.1% during the forecast period.

Based on lead type, the market is divided into single lead, 3-6 lead, and 12-lead. The 3-6 lead segment dominated the market in 2017, contributing more than two-fifths of the market. Moreover, the segment is expected to manifest the fastest CAGR of 6.1% during the forecast period.

Segmentation Analysis of the Industry

On the basis of end user, the market is bifurcated into hospitals & clinics, home settings & ambulatory surgical centers (ASCs), and others. The hospitals & clinics segment held the largest share in 2017, contributing nearly three-fourths of the market. However, the home settings & ambulatory surgical centers (ASCs) segment is projected to portray the fastest CAGR of 7.5% through 2023.

The market is analyzed across various regions such as North America, Asia-Pacific, Europe, and LAMEA. The market in North America held the lion’s share in 2017, contributing nearly two-fifths of the market. However, the market in the Asia-Pacific region is projected to manifest the fastest CAGR of 6.9% during the forecast period.

Industry Key Players

The electrocardiograph (ECG) market report analyzes the major market players including Royal Philips Healthcare (Koninklijke Philips N.V.), GE Healthcare (General Electric Company), Schiller AG, Nihon Kohden Corporation, OSI Systems Fukuda Denshi Co Ltd., Opto Circuits Limited, Mindray Medical International Limited, Johnson and Johnson, and Medtronic.

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