New York, June 08, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Electrocardiograph (ECG) Global Market Report 2023" - https://www.reportlinker.com/p06466646/?utm_source=GNW
, Fukuda Denshi Co. Ltd., Innomed Medical Inc., Mindray Bio-Medical Electronics Co. Ltd., Johnson and Johnson, Mortara Instrument Inc., Medtronic PLC, Mindray Medical International Limited, BioTelemetry and GE HealthCare Technologies Inc.
The global electrocardiograph (ECG) market is expected to grow from $8.03 billion in 2022 to $8.57 billion in 2023 at a compound annual growth rate (CAGR) of 6.74%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The electrocardiograph (ECG) market is expected to reach $11.46 billion in 2027 at a CAGR of 7.56%.
The electrocardiograph market consists of revenues earned by entities by providing patient monitoring services.The market value includes the value of related goods sold by the service provider or included within the service offering.
The electrocardiograph market also includes sales of diagnostic ECGs, automatic external defibrillators (AEDs), and ambulatory holter ECG recorders.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers.
The value of goods in this market includes related services sold by the creators of the goods.
An electrocardiograph (ECG) is a medical device that is used to record the heart’s electrical activity over time.It is used to record the heart’s electrical activity.
The heart’s electrical activity is recorded using small metal electrodes placed on the chest, arms, and legs.
North America was the largest region in the electrocardiograph (ECG) market in 2022. The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main products of electrocardiographs (ECG) are holter monitors, resting electrocardiographs (ECG), stress electrocardiographs (ECG), event recorders, and others.Holter monitors are portable ECG devices that continuously record the heart’s activity over 24 to 48 hours.
The technologies involved are portable ECG systems, wireless ECG systems that consist of single-lead ECG, 2-lead ECG, 3-lead ECG, 6-lead ECG, and 12-lead ECG for hospitals, clinics, home settings and ambulatory surgical centers (ASCs), and others end users.
The rising cases of cardiovascular diseases are expected to boost the electrocardiograph (ECG) market going forward.Cardiovascular disease is a group of conditions affecting the heart and blood vessels.
These conditions include coronary artery disease, heart failure, arrhythmias, and heart valve problems.ECGs are essential for diagnosing, treating, and managing various cardiovascular diseases.
They help doctors evaluate the heart’s electrical activity and identify abnormalities that may indicate a heart condition.ECGs are an essential part of the diagnostic process for many heart-related states and will continue to need electrocardiographs for treatment, thus supporting the market growth.
For Instance, in 2022, according to the Centers for Disease Control and Prevention (CDC), a US-based government agency, heart disease killed over 659,000 people in the United States, accounting for one out of every four deaths. The most common type of heart disease, coronary heart disease, killed 382,820 people in 2020. Therefore, the rise in cases of cardiovascular diseases will drive the electrocardiograph (ECG) market forward.
Technological advancements are a key trend gaining popularity in the electrocardiograph (ECG) market.Major companies operating in the electrocardiograph sector are focused on developing technologically advanced solutions to sustain their market position.
For instance, in January 2022, Royal Philips, a Netherlands-based conglomerate corporation, launched an at-home 12-lead electrocardiogram (ECG) solution for use in decentralized clinical trials.The at-home solution enables clinical trial participants to record data with quality comparable to site-based ECGs at home by utilizing PCA 500 ECG patch data recording technology.
Without the need for frequent site visits, onsite technicians, or home nurses, the solution’s novel body-worn patch enables compliant 12-lead ECG implantation and near real-time, highly secure data transfer.
In June 2020, Glebar Company Inc, a US-based machine industry company acquired Everite Machine Products Inc. for an undisclosed amount. With this acquisition, Glebar will be better able to offer ECG solutions to a growing customer base and expand by providing better service and support to the Everite customer install base by bringing Glebar’s service and aftermarket capabilities to them. Everite Machine Products Inc is a US-based company that specializes in manufacturing and supplies of electrochemical grinding (ECG) technology.
The countries covered in the electrocardiograph (ECG) market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The electrocardiograph (ECG) market research report is one of a series of new reports that provides electrocardiograph (ECG) market statistics, including electrocardiograph (ECG) industry global market size, regional shares, competitors with an electrocardiograph (ECG) market share, detailed electrocardiograph (ECG) market segments, market trends, and opportunities, and any further data you may need to thrive in the electrocardiograph (ECG) industry. This electrocardiograph (ECG) market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
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