ECG Management System Regional
Analysis:
ECG
management system market is geographically segmented into six regions –
North America, Latin America, Middle East, Europe, Asia Pacific and Africa.
North America dominates ECG management system market due to high adoption rate
of advanced technology and increasing prevalence of cardiac diseases. According
to the American Heart Association’s 2017 report, around 92.1 million people in
the U.S. were suffering from some form of cardiovascular disease or the
after-effects of stroke. Furthermore, about 2,200 people die of cardiovascular
disease every day in America. Asia Pacific is expected to be the fastest
growing ECG management system market region over the forecast period. This is
attributed to increasing awareness about technology and increasing number of
hospitals.
ECG management system is a
web-based electronic medical record that offers better workflow efficiency by
processing, storing, and distributing the cardiovascular information between
doctors and patients. Winchester Medical Center, in 1991, initiated conversion
of ECG records from paper form to electronic form before, which records were
filed in a central location. ECG management systems has advanced in past few
decades with the improvement in efficacy and maintenance of medical records in
electronic form. Electrocardiogram (ECG) databases play an important role in
medical and pharmaceutical research, and healthcare. The rising number of ECG
data demands for centralizing the diagnostic information with such
technologies. The streamlining of cardiology workflow with information
technology will aid hospitals in the management of larger number of ECG data
and patients.
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ECG Management System Market
Drivers:
Technological advancements by key
players plays a major role in the expansion of ECG management system market.
Previously, these ECG diagnostic systems had the basic cardiac diagnostic
technology, which were used to provide and store basic information related to
hospitals were premise remained the same. However, testing systems and
management facilities are continuously evolving to meet the unmet demands. ECG
management system market provides wide opportunity for manufacturers to come up
with cost effective ECG management system. For instance, in 2014, GE Healthcare
introduced an upgrade Muse with i2 ECG technology, which allows bi-directional
flow of data with non- GE based ECG systems. Furthermore, in 2014, McKesson
cleared FDA approval for mobile medical software app called McKesson Cardiology
ECG Mobile. This system aims to reduce non-productive time by providing access
to ECG data for review and report. ECG management system’s stored data also
helps in reducing chest pain management. For instance, in 2011, LUMEDX
Corporation released HealthView Chest management solution, which produce ECG
and compile patient’s historical information before hospitalization.
The ECG management system market
players are adopting strategies to expand their product portfolio, thereby
expanding their market share. For instance, in 2015, Cerner Corp. partnered
with Mortara Instrument to introduce CareAware Waveform Management. CareAware
Waveform Management offers physiologic waveforms, data, and alarms on device
that aid in accessing patient record. All these technological advancements are
expected to augment the ECG management system market over the forecast period.
Furthermore, partnership between manufacturers and users such as hospitals and
clinics for product promotion and installation will also expand the ECG
management system market. For instance, in 2017, ScImagae, Inc. announced its
partnership with WVU Medicine West Virginia University Health system to utilize
ScImage’s PICOM365 Enterprise PACS throughout 8 WVU Medicine Hospitals.
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Moreover, the expansion of global
ECG management market is attributed to increasing number of ECG test of
patients suffering from cardiovascular disease. According to the World Health
Organization (WHO), 17.7 million people died of cardiovascular disease in 2015,
which represent around 31% of deaths occurred globally. Increasing number of
cardiovascular disease patients with larger number of ECG data demands for
better data management system, which is expected to drive the ECG management
system market. Moreover, increasing number of heart related disorders among
geriatric population and increasing number of healthcare facilities will also
boost the ECG management system market. Furthermore, the governmental programs
increases the awareness for annual health examination and ECG is performed as a
part of annual health exam by the patients with no known cardiac conditions,
which will increase the demand for ECG management system.
ECG Management System -
Competitors:
Philips Healthcare, GE
Healthcare, Cardiac Science Corporation, CardioComm Solutions, Inc., Norav
Medical, Nihon Kohden Corporation, Mortara Instrument and Suzuken Kenz are some
of the major players in the ECG management system market.
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