ECG Equipment and Management System Market Growth is Driven by growing cases of cardiac arrhythmia & increasing demand for ambulatory monitoring devices

AUSTIN, TEXAS, UNITED STATES, June 17, 2024 /EINPresswire.com/ -- The SNS Insider report estimates the ECG Equipment and Management Systems Market size at USD 6.9 billion in 2023, with a projected CAGR of 6.2% to reach USD 11.32 billion by 2031.

ECG Equipment and Management Systems Market is driven by factors like, the increasing cases of cardiac arrhythmia, a condition marked by irregular or abnormal heartbeats, is driving demand for early detection and monitoring solutions. According to the American Heart Association, over 34 million people in the United States live with arrhythmias. The demographic shift towards an aging population is also a major growth factor. As the risk of cardiovascular diseases, including arrhythmias, rises with age, this expanding geriatric population creates a larger potential user base for these devices. The field of technology is constantly innovating, leading to the development of more user-friendly ambulatory cardiac monitoring devices. These advancements include improved data transmission capabilities, remote monitoring features, and seamless integration with electronic health records, ultimately enhancing both patient care and clinician workflow.

The healthcare industry shift from paper-based ECG systems to electronic equipment and management systems. This transition has improved efficiency and data accessibility for medical professionals. The rising cases of cardiac arrhythmias, an aging population, continuous technological advancements, and improved ECG equipment and management systems are all key factors for increasing the growth of the ambulatory cardiac monitoring device market.

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List of ECG Equipment and Management System Companies Profiled in Report:
• BioTelemetry, Inc.
• CardioComm Solutions, Inc.
• CompuMed, Inc.
• Device Technologies
• Drägerwerk AG & Co. KGaA
• GE Healthcare
• Hill Rom
• Koninklijke Philips N.V.
• McKesson Corporation
• Medical ECONET GmbH
• Meditech Equipment Co Ltd
• Mindray Bio-Medical Electronics Co., Ltd.
• Mindray Medical
• Nihon Kohden Corporation
• Schiller AG
• Spacelabs Healthcare
• ZOLL Medical Corporation

Key Market Segment
By Type
• Holter Monitors
• Resting ECG System
• Stress ECG Monitors
• Event Monitoring Systems
• ECG Management Systems

Resting ECG system dominated the type segment with more than 60% share in 2023. The growth of the segment is due to Improved Clinical Accuracy and Technological Advancements

By End-use
• Hospitals & Clinics
• Ambulatory Facilities
• Others

The hospitals and clinics dominated the segment in ECG Equipment and Management Systems Market with more than 45.0% market shares in 2023. Rising arrhythmia cases and the expanding use of Holter devices within hospitals are key drivers of this segment

Recent Developments
• In January 2023, BioTelemetry, Inc., introduced its innovative CardioMEMS HF System. This system utilizes a wireless implantable sensor to monitor and manage heart failure, offering a potentially valuable tool for improved patient care.
• In February 2023, Koninklijke Philips N.V. acquiring CompuMed, a leading provider of ambulatory cardiac monitoring solutions. This acquisition highlights the growing importance of cardiac monitoring technologies and Philips' commitment to expanding its presence in this market segment.

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Regional Analysis
The North American market holds the dominant position in the ECG equipment and management systems market, with approximately more than 46% market shares. North America dominated the market due to some factors such as, a major driver is the increasing cases of cardiovascular disease (CVD) in North America. The aging population and prevalence of lifestyle diseases contribute to this high burden. For instance, data from the CDC reveals that heart disease alone is responsible for over 648,000 deaths annually in the United States. The United States and Canada are approving and launching advanced, next-generation ECG equipment and management systems.

Asia Pacific region have Technological advancements in ECG equipment, such as wireless and real-time monitoring capabilities, which attracting interest in this region. Also, increased healthcare spending, support from regulatory bodies, and a large patient population with cardiovascular conditions are contribute to market growth in Asia Pacific. The region's growing medical tourism sector and the availability of high-quality healthcare services are also factors to consider.

The global ECG equipment and management systems market presents a dynamic landscape with regional variations. The North America leads currently, other regions like Europe and Asia Pacific hold significant growth potential due to factors like rising CVD prevalence, increasing adoption of advanced technology, and favorable regulatory environments.

Key Takeaways:
• Rising arrhythmia cases drive demand for advanced ECG equipment for early detection and monitoring.
• Expanding geriatric population with higher CVD risk creates a significant market opportunity for ECG equipment.
• User-friendly, sophisticated ECG devices with improved data transmission, remote monitoring, and seamless EHR integration are emerging, enhancing patient care and clinician workflow.
• The shift to electronic ECG systems improves data accessibility and efficiency for medical professionals, optimizing patient care.
• North America leads due to high CVD burden and advanced technology adoption, Europe and Asia Pacific show promise due to rising CVD prevalence, increasing technology adoption, and favorable regulatory environments.

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Table of Content
Chapter 1 Introduction
Chapter 2 Research Methodology
Chapter 3 ECG Equipment and Management System Market Dynamics
Chapter 4 Impact Analysis (COVID-19, Ukraine- Russia war, Ongoing Recession on Major Economies)
Chapter 5 Value Chain Analysis
Chapter 6 Porter’s 5 forces model
Chapter 7 PEST Analysis
Chapter 8 ECG Equipment and Management System Market Segmentation, By Type
Chapter 9 ECG Equipment and Management System Market Segmentation, By End-use
Chapter 10 Regional Analysis
Chapter 11 Company profile
Chapter 12 Competitive Landscape
Chapter 13 Use Case and Best Practices
Chapter 14 Conclusion
Continued…

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Akash Anand
SNS Insider Pvt. Ltd
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