Electrocardiogram (ECG) resting
system, ECG Holter monitoring system, ECG stress testing system, and
cardiopulmonary stress testing system are some of the widely used ECG systems.
Resting ECG device detects arrhythmias while the patient is in resting
position. These devices are widely used in hospitals and cardiology clinics.
Holter ECG monitoring device is portable and is used for continuous monitoring
of heart activities. It can be used to detect occasional cardiac arrhythmias.
Statistics:
The global Electrocardiogram
(ECG) Devices Market is estimated to account for US$ 5,589.3 Mn in terms of
value by the end of 2027.
Global Electrocardiogram (ECG)
Devices Market: Drivers
Low cost of ECG services is
expected to propel growth of the global Electrocardiogram (ECG) Devices market
over the forecast period. For instance, the cost of an electrocardiogram ranges
from US$ 76 to US$ 240.
Global Electrocardiogram (ECG)
Devices Market: Opportunities
Use of non-conventional energy
sources in Electrocardiogram (ECG) Devices is expected to offer lucrative
growth opportunities for players in the market. For instance, in May 2019,
researchers from Pukyong National University, South Korea, reported designing
an ECG device that is powered by solar energy with an output voltage of 2.4 V
and a power out of 0.25 W.
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Global Electrocardiogram (ECG)
Devices Market: Restraints
Inaccuracy of wearable
Electrocardiogram (ECG) Devices is expected to hinder growth of the global
Electrocardiogram (ECG) Devices market. Electrocardiogram (ECG) Devices often
offer false diagnostics of heart conditions. For instance, according to a
research published in April 2019 by the Harvard Medical School, 30% of wearable
devices yield inaccurate results.
Key Takeaways:
The ECG Resting System segment in
the global Electrocardiogram (ECG) Devices market was valued at US$ 2,226.2 Mn
in 2019 and is expected to reach US$ 3,089.4 Mn by 2027 at a CAGR of 4.2%
during the forecast period. Increasing adoption of expansion strategies from
major players operating in the market to enhance their product portfolio and
expand geographical footprint is anticipated to drive the growth of the segment
during the forecast period.
The hospital segment held
dominant position in the global Electrocardiogram (ECG) Devices market in 2014,
accounting for 54.6% share in terms of value during the forecast period.
Increasing prevalence of cardiovascular diseases (CVDs) is expected to boost
growth of the segment during the forecast period.
Market Trends
Minor ST depression in the ECG is
associated with cardiovascular disease and increased mortality. For instance,
according to a study published in the Journal of Electrocardiology in December
2019, lower ST levels in ECG lateral leads are linked with all-cause mortality.
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Artificial Intelligence (AI) can
be used for automatic detection of hypoglycaemia using ECG. For instance, in
January 2020, researchers at University of Warwick, U.K., reported the use of
personalized medicine approach and AI to automatically detect nocturnal
hypoglycemia using a few heartbeats of raw ECG signal recorded with non-invasive,
wearable devices.
Regulations
Regulations for wireless devices:
In the U.S., wireless medical
devices are regulated by Food and Drug Administration (FDA), Federal
Communications Commission (FCC), and Centers for Medicare and Medicaid Services
(CMS)
Global Electrocardiogram (ECG)
Devices Market: Competitive Landscape
Major players operating in the
global Electrocardiogram (ECG) Devices market include, Cardiac Insight Inc., Koninklijke Philips
N.V., General Electric Company, CardioNet Inc., Mindray Medical International
Limited, Spacelabs Healthcare (a subsidiary of OSI Systems Inc.), Schiller AG,
Compumed Inc., Nihon Cohden Corporation, and Welch Allyn Inc..
Global Electrocardiogram (ECG)
Devices Market: Key Developments
March 2019: VivaLNK, a connected
healthcare solutions provider, launched its IoT-enabled medical wearable Sensor
Platform that enables internet of health things (IoHT) solution partners to
easily capture streams of patient data such as temperature and ECG rhythms
July 2018: LifeSignals Group Inc.
received the U.S. FDA clearance for its wireless LP1100 Life Signal Patch, a
wearable ECG patch
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