Ecg Monitoring System Market Report

Market Insights

The ECG Monitoring System Market is estimated to grow from USD 1.2 billion in 2020 to USD 1.9 billion by 2026 at a healthy CAGR of 9.1% during the forecast period.

Figure: ECG Monitoring System Market Size, 2020-2026 (USD Billion)

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What is ECG Monitoring System?

An electrocardiogram (ECG) helps to record the electrical signal from the heart in order to check for different heart conditions. It is the most crucial test for detection of myocardial ischemia & infarction, interpretation of the cardiac rhythm, pre-excitation, conduction system abnormalities, and pericarditis, among others. ECG monitoring systems are medical devices that helps to identify and provide information regarding abnormal functioning of the heart. Some of these devices include rest ECG recorders, ECG stress testing systems, event monitoring systems, and holter monitors.

Covid-19 Impact Analysis

The COVID-19 pandemic has moderately affected the ECG monitoring system industry. The rapid spread of COVID-19 has led to several thousands of hospital admissions. The focus of healthcare professionals has been shifted toward the treatment of COVID-19-infected patients, which affected the treatment of non-emergency medical conditions, amid the pandemic.

Key Players

Key players operating in the global ECG Monitoring System Market are-

• GE Healthcare (US)
• Philips Healthcare (Netherlands)
• Nihon Kohden (Japan)
• Schiller AG (Switzerland)
• Opto Circuits Limited (India)
• Welch Allyn (US)
• Fukuda Denshi Co., Ltd. (Japan)
• OSI Systems (US)
• Lidco Group plc (UK)
• Biotricity Inc. (US)

Market Dynamics

The ECG Monitoring System market is primarily driven by rising prevalence of cardiovascular diseases and growing healthcare expenditures. For instance, as per the American Heart Association's Heart and Stroke Statistics 2019 Update, approximately 48% of all adults in the U.S. suffered from some kind of cardiovascular disease in 2016. In addition, rising geriatric population across the globe further augments the product demand during the review period.

Segment’s Analysis

End Use Trends

Based on end use, the ECG monitoring system market has been classified into hospitals, ambulatory surgical centers, and clinics. The hospitals segment accounted for the largest market share in 2020. This is mainly attributed to the rising burden of cardiovascular diseases, which, is augmenting the need for quality cardiology care as well as increasing the number of patient visits to physician offices for the diagnosis of CVD.

Regional Trends

By region, the North America ECG Monitoring System market accounted the highest share in 2020 and is expected to grow at a robust CAGR during the review period. The ECG Monitoring System market growth is mainly attributed to changing lifestyle of the people, increasing occurrences of cardiac stroke, and prevalence of better healthcare facilities, rising healthcare spending, surging awareness regarding cardiovascular diseases, and favorable reimbursement & insurance plans, augments the regional market growth during the forecast timeline.

Critical Questions Answered in the Report

This market research report provides in-depth information on trends, dynamics, revenue opportunities, competitive landscape, and recent developments in the global ECG monitoring system market. The historic years considered for the study are 2016-2019, base year is 2020, estimated year is 2021, and forecast period is 2022-2026. Following are the critical questions answered in the report.

• What are the key trends in the global ECG monitoring system market?
• How the market (and its various sub-segments) has grown in the last five years and what would be the growth rate in next five years?
• What is the impact of COVID-19 on global ECG monitoring system market?
• What are the key strategies adopted by the major vendors to lead in the global ECG monitoring system market?
• What is the market share of the top vendors?

Target Audience

The target audience of ECG Monitoring System Market includes-

• ECG Monitoring System Vendors
• ECG Monitoring System Manufacturers
• ECG Monitoring System Distributors
• Organizations
• Government Bodies.

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