|
Home | Medical-Newswire.Com:
|
(Medical-NewsWire.com, November 08, 2019 ) Market Overview
Electrocardiograph (ECG) is a non-invasive and painless medical test that records heart activities through electric signals, and these signals are amplified on the ECG monitor. In ECG each heartbeat is recorded with an electrode as an electrical impulse and detect minutest electrical changes in the skin caused due to heart muscle depolarizing during each heartbeat. ECG monitoring devices such as resting ECG, stress ECG and Holter monitors help identify heart-related ailments or arrhythmias and thus assist appropriate therapy. According to the World Health Organization (WHO), arrhythmia affects more than 20 million patients, along with approximately 5 million deaths each year in the world.
Chronic diseases are becoming a major cause of deaths worldwide, among which cardiovascular diseases are one of the most common health problems. As per WHO, about 21 million people have died from cardiovascular diseases (CVD) since 2013. Since then for early diagnose and patient monitoring, cardiologists have adopted ECG for quick and accurate results. ECG can even determine if the electrical activity is normal or slow, fast or irregular. It is also used to measure the amount of electrical activity passing through the heart muscle and identify if the parts of the heart are too large or overworked.
Market Dynamics
The major drivers driving the market are a rise in cardiovascular diseases globally, technological advancements in ECG devices such as portable and handheld, increase in geriatric population and favorable government regulations regarding monitoring devices.
According to a U.S. Census Bureau report, in 2018 among 7.9 billion people all over the world, 720.1 million or 8.8% were aged 65 or older. In just 15 years, the elderly population is estimated to increase by more than 60%. Increasing geriatric population is increasing the prevalence of diseases such as cardiovascular disorders and strokes. Furthermore, according to World Heart Federation, 54% of the total heart patients worldwide age above 60 and ECG tests are considered to be the first line of diagnosis prescribed by the doctor in case a patient is experiencing symptoms like chest pain, shortness of breath, dizziness, fainting or palpitations.
Many of the major companies are developing portable handheld ECG monitors, wireless ECGs, and ECG management systems to automate the processing, storage, and distribution of data. Cardiofax G electrocardiograph incorporates Nihon Kohden Corp.'s synthesized 18-lead ECG, which can improve the detection of hidden ischemia.
Lack of awareness regarding early prevention of cardiovascular diseases in the developing economies, unstable reimbursement strategies for ECG devices and increase in market saturation are going to restrain the market in the forecast period.
Market Segmentation
The global ECG market is segmented by type as resting ECG, stress ECG, Holter monitors, cardiac event monitors, and others, by lead as single lead, 3-6 lead, 12 lead, and others and by the end user as hospitals and clinics, home care devices and others.
In 2018, the resting ECG system dominated the ECG market by accounting for more than 50% of the market. Factors contributing to the growth of the market are improved clinical accuracy due to advanced data analysis tools, new product launches, and various technological advancements for better care and accurate diagnosis. Partnerships among ECG manufacturers to develop the better exchange of information through Cardiovascular Information Systems (CVIS) and Electronic Health Record (EHR) are anticipated boost the ECG equipment market by simplifying ECG workflow and reducing the complexity associated with custom integration.
The others ECG market devices include ECG management systems and Mobile cardiac telemetry devices. Mobile cardiac telemetry devices account for the largest market share in others segment of more than 50%. Various product launches, technological innovations such as mobile access to ECG waveforms, ease of use, increased efficiency, and availability of web access are certain factors that are anticipated to boost the growth of the others segment. The most recent advancement in cardiac monitoring is continual Mobile Cardiac Telemetry, consisting of around-the-clock patient heart monitoring through a small device and small leads on a patient's chest. iRhythm's Zio device, this is a small wearable patch that gets mailed to an analysis center every two weeks.
Geographical Analysis
Geographically, the global ECG market is divided into North America, Europe, South America, Asia-Pacific and the Middle East and Africa.
North America accounted for the largest market share of more than 35% of the market in 2018 due to technological advancements, increase in product launches, collaborative agreements among manufacturers, and surging heart-related diseases. According to the WHO, in 2018, 6.3 million people died from CVDs in the US. Among them, 1.3 million deaths were caused by stroke, and 2.9 million deaths were due to coronary heart disease. Some of the major companies operating in the North America region are Philips, AliveCor, Johnson & Johnson, GE Healthcare, Spacelabs Healthcare. and Welch Allyn. Presence of a large patient pool, availability of high-quality services and increasing medical tourism are expected to drive the market in the region of
Asia Pacific is estimated to grow at a CAGR of 6.19% over the period of forecast. With higher adoption of newer technologies, favorable government initiatives for data management and computerization of ECG records in hospitals and healthcare sectors are likely to drive the Asia Pacific ECG market. China is going to dominate the Asia-Pacific market because of the high rise in population. According to the National Health and Family Planning Commission (NHFPC), in 2013, in China, the prevalence of chronic diseases was around 52% of the total population.
Competitive Trends
Some of the key market players are BioTelemetry, CompuMed Inc., Spacelabs Healthcare Inc., GE Healthcare, Royal Philips Healthcare, Nihon Kohden Corporation, Medtronic, Hill-Rom Holdings Inc., Mindray Medical International Limited and Schiller AG.
The market is dominated by the top six companies – GE Healthcare, Royal Philips Healthcare, Nihon Kohden Corporation, Medtronic, Spacelabs Healthcare Inc and Schiller AG occupied more than 55% of the market share in 2018. Majority of these players are focusing on expanding the distribution network as well as expanding presence in the Asia Pacific, Latin America and the Middle East regions due to improving economic conditions
In August 2018, Royal Philips acquired Xhale Assurance Inc., Xhale Assurance’s unique, disposable pulse oximetry sensor is placed on the wing of the nose, and can reliably measure and transmit a patient’s heart rate and blood oxygenation under low perfusion conditions.
November 2017: FDA approved the watch band of AliveCor, which can take electrocardiogram in less than a minute.
In July 2017, BioTelemetry, Inc. completed acquisition of LifeWatch AG for $280 million and thus enhancing its patient monitoring devices segment.
Enquire Before Purchase: https://www.datamintelligence.com/enquiry/ecg-market
Download free sample: https://www.datamintelligence.com/download-sample/ecg-market
About Us
DataM Intelligence was incorporated in the early weeks of 2017 as a Market Research and Consulting firm with just two people on board. Within a span of less than a year we have secured more than 100 unique customers from established organizations all over the world.
For more information:
Sai Kiran
Sales Manager at Data M Intelligence
Email: info@datamintelligence.com
Tel: +1 877 441 4866
Website: www.datamintelligence.com
DataM Intelligence
Sai Kiran
+1 877 441 4866
pr@datamintelligence.com
Source: EmailWire.Com 
Source: EmailWire.com
|
|
|
|
