New York, May 05, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Electrocardiograph (ECG) Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)" - https://www.reportlinker.com/p06067774/?utm_source=GNW
It is estimated that cardiovascular diseases (CVDs) take the lives of 17.9 million people every year, 31% of all global deaths. In addition, an increase in demand for the invasive techniques and lifestyle changes bolstering the electrocardiograph (ECG) market. Furthermore, technological advancements and growing accessibility to the advanced treatments are expected to boost the electrocardiograph (ECG) market.
In many of the developing countries, owing to the cost-effective factor, physicians are forced to use traditional ECG devices instead of the latest high-end devices. Hence, high cost for buying and maintaining, and lack of technical skills are hindering the growth of the market in developing regions. In developed regions, the new sales is almost equal to the replacement rate because of already well- established infrastructure.
Key Market Trends
Holter ECG Systems will continue to demonstrate strong growth in the market
The Holter ECG monitors have witnessed significant growth rate during the forecast period. The Holter ECG monitors were considered as the most common type of ambulatory monitoring of ECG which has led to the high utilization of Holter ECG monitors for identification of many cardiovascular diseases. Moreover, the introduction of wireless Holter monitors attributed to generating significant market share in ECG market globally.
The penetration of wireless systems in point of care boosted the adoption of home care setting which further propelled the growth of the global ECG market.
North America to dominate the growth of Electrocardiograph (ECG) market
North American holds the leading position in electrocardiograph (ECG) market owing to an increase in the patient pool of cardiovascular and cancer diseases in the US and Canada. As per the report from the American Heart Association on heart disease and stroke, in 2017, over approximately 800,000 deaths due to cardiovascular disease.
The Asia Pacific is also expected to witness significant growth due to the increasing prevalence of the cardiovascular disease, growing technological advancements, rapid growth in the economy and favourable initiatives by the government.
Latin America is expected to show considerable growth due to lifestyles changes and the increasing prevalence of the cardiovascular disease. According to World heart federation, Latin America holds a high risk of abdominal obesity, high blood cholesterol, hypertension etc. In 2015, According to the study, about 1.6 million deaths were recording in Latin America and the Caribbean because of cardiovascular diseases. The universal healthcare scheme in Brazil along with rising government focus for improving public health is fueling the market growth.
Competitive Landscape
Electrocardiograph (ECG) is a highly fragmented market with the presence of many prominent players. Companies are focusing on the major collaborations, mergers and acquisitions in order to enhance their market share. Market players are also focusing on R&D to improve product quality and minimize manufacturing costs, developing safer devices to improve patient compliance and safety.
For instance,
- In 2018, Qardio, Inc., has received the approval from Australia’s Therapeutic Goods Administration (TGA) for QardioCore, its revolutionary ECG monitor.
- In 2019, Omron Healthcare Launched its First Wearable Blood Pressure Monitor, Previews Breakthrough Monitor with EKG and New Digital Health Services.
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Electrocardiograph (ECG) Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)
Increase in prevalence of heart diseases worldwide is the primary factor driving the electrocardiograph (ECG) market globally. According to the WHO, cardiovascular disease is one of the leading cause of death worldwide.
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