Portland, OR, May 09, 2022 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global electrocardiograph (ECG) market generated $8.3 billion in 2020, and is estimated to reach $18.4 billion by 2030, witnessing a CAGR of 8.3% from 2021 to 2030. The report offers a detailed analysis of changing market trends, top segments, key investment pockets, value chain, regional landscape, and competitive scenario.
Rise in R&D activities, new product development, and innovations in designing electrocardiographs drive the growth of the global electrocardiograph (ECG) market. However, unfavorable reimbursement policies and lack of skilled professionals restrain the market growth. On the other hand, advancements in technologies present new opportunities in the coming years.
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Covid-19 Scenario:
- The visits to healthcare facilities such as clinics and hospitals for consulting and treatment of conditions that require electrocardiographs reduced due to closure of many clinics with lockdown and measures taken to avoid cross-contamination during the Covid-19 pandemic.
- Many hospitals shifted their staff to take care of Covid-infected patients and postponed many non-elective surgeries. This led to reduced revenue for the electrocardiograph (ECG) market worldwide.
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The report offers detailed segmentation of the global electrocardiograph (ECG) market based on product, end user, lead type, and region.
Based on product, the resting electrocardiograph (ECG) segment contributed to the highest share in 2020, holding nearly two-fifths of the total market share, and is estimated to continue its lead position during the forecast period. However, the holter monitors segment is projected to manifest the largest CAGR of 11.6% from 2021 to 2030.
Based on end user, the hospitals & clinics segment held the largest share in 2020, accounting for nearly three-fourths of the global electrocardiograph (ECG) market, and is expected to maintain its dominance in terms of revenue by 2030. However, the home settings & ambulatory surgical centers (ASCs) segment is estimated to witness the largest CAGR of 10.0% during the forecast period.
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Based on region, North America accounted for the highest share in 2020, contributing to nearly two-fifths of the total market share, and is projected to continue its leadership status by 2030. However, Asia-Pacific is projected to portray the fastest CAGR of 10.2% during the forecast period.
Leading players of the global electrocardiograph (ECG) market analyzed in the research include Ambu A/S, BPL Medical Technologies Private Limited, Baxter International Inc., Johnson & Johnson, Fukuda Denshi Co. Ltd., Medtronic Plc., Koninklijke Philips N.V., Schiller AG, Nihon Kohden Corporation, and Shenzhen Mindray Bio-Medical Electronics Co.
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