The global electrocardiogram (ECG) devices market is expected to experience significant growth in the coming years, driven by factors such as the increasing prevalence of cardiovascular diseases, the growing demand for portable and wireless ECG devices, and the rise of telemedicine and remote patient monitoring.
According to a report by Market Research Future, the global ECG devices market is projected to reach a value of USD 10.3 billion by 2023, growing at a CAGR of 6.5% during the forecast period. The market is segmented by type of device, end-user, and region.
Based on the type of device, the market is segmented into resting ECG devices, stress ECG devices, and holter monitors. The resting ECG devices segment accounted for the largest share of the market in 2017, due to the high prevalence of cardiovascular diseases and the increasing demand for early diagnosis and treatment.
Based on end-user, the market is segmented into hospitals, clinics, ambulatory surgical centers, and others. The hospitals segment accounted for the largest share of the market in 2017, due to the high patient volume and the availability of skilled healthcare professionals in hospitals.
Geographically, the market is segmented into North America, Europe, Asia-Pacific, and the Rest of the World. North America accounted for the largest share of the market in 2017, due to the high prevalence of cardiovascular diseases and the presence of established healthcare infrastructure in the region. However, the Asia-Pacific region is expected to grow at the highest CAGR during the forecast period, due to the increasing healthcare expenditure and the rising demand for portable and wireless ECG devices in the region.
The key players operating in the global ECG devices market include GE Healthcare, Koninklijke Philips N.V., Mindray Medical International Limited, Schiller AG, BioTelemetry Inc., Nihon Kohden Corporation, Welch Allyn Inc., Cardionet Inc., and Compumed Inc. These players are focusing on developing innovative and advanced ECG devices, expanding their product portfolios, and acquiring smaller players to strengthen their market position.
In conclusion, the global ECG devices market is expected to grow significantly in the coming years, driven by factors such as the increasing prevalence of cardiovascular diseases, the growing demand for portable and wireless devices, and the rise of telemedicine and remote patient monitoring. Companies operating in the market should focus on developing innovative and advanced ECG devices to capitalize on the growth opportunities in the market.
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