The global ECG equipment market is expected to reach USD 13.94 billion by 2030, exhibiting a CAGR of 7.2% from 2024 to 2030, according to a new report by Grand View Research Inc. The rising incidences of cardiovascular disorders and government initiatives to make people aware about health check-ups are expected to boost market growth. In addition, the change in the medical preference from acute intervention to preventive care is expected to increase the demand for more accurate and cost-effective methods for heart monitoring.
According to the WHO, in 2012, around 17.5 million people died due to cardiovascular diseases. This is due to the late diagnosis and absence of early symptoms as the patient fails to keep record of his vital signs.
Owing to the increasing incidences, government is undertaking various awareness programs. According to the American Heart Association (AHA), 56% women identified heart disease as a leading cause of death in 2012 as compared to 30% in 1997.
Access the ECG Equipment Market Size, Share & Trends Analysis Report By Product, By Lead (Single Lead ECG, 3 Lead ECG, 2 Lead ECG, 6 Lead ECG, 12-Lead ECG), By End Use (Hospitals), By Region, And Segment Forecasts, 2024 - 2030
ECG Equipment Market Report Highlights
- Resting ECG systems products dominated the market and accounted for a share of 40.7% in 2023. These devices are widely employed in managing cardiovascular disease due to their cost-effectiveness, space-efficient design, and user-friendly nature.
- 6-Lead ECG accounted for the largest market revenue share of 32.05% in 2023. This growth is driven by its advanced features, including the capability to interpret data on cardiac health issues and its effectiveness in managing and diagnosing heart rhythm abnormalities, particularly in detecting atrial fibrillation and tachycardia.
- The hospitals segment dominated the market in 2023. This dominance is largely due to the improved facilities available for patient care.
- North America ECG equipment market dominated the market in 2023. Rising cases of cardiovascular diseases with enhanced healthcare infrastructure and technological advancement are factors behind the growth of the market in the region.
Key ECG Equipment Company Insights
Some of the key companies in the ECG equipment market include Medtronic, GE Healthcare, Schiller AG, and many others. Organizations are focusing on increasing customer base to gain a competitive edge in the industry. Therefore, key players are taking several strategic initiatives, such as mergers and acquisitions, and partnerships with other major companies.
Key ECG Equipment Companies:
The following are the leading companies in the ECG equipment market. These companies collectively hold the largest market share and dictate industry trends.
- Medtronic
- Johnson & Johnson Services, Inc.
- GE HealthCare
- Koninklijke Philips N.V.
- Schiller AG
- Spacelabs Healthcare
- AliveCor, Inc.
- Shenzhen Mindray Bio-Medical Electronics Co., Ltd.
- ACS Diagnostics.
- Allengers
- Hill-Rom Services, Inc. (Baxter)
- NIHON KOHDEN CORPORATION
Order your free sample copy of “ECG Equipment Market Report 2024 - 2030, published by Grand View Research
Recent Developments
- In February 2024, Thyracore acquires Think Health a key industry player in home ECG services. As a result, Thyrocare has now positioned itself as one of the leading providers of at-home healthcare services in India.
- In January 2024, Omron Healthcare launched a portable ECG AliveCor's KardiaMobile in Italy and France to advance fibrillation awareness and stroke prevention in alignment with its ‘Going for zero’ vision.
About Grand View Research:
Grand View Research, Inc. is a market research and consulting company that provides off-the-shelf, customized research reports and consulting services. To help clients make informed business decisions, we offer market intelligence studies, ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials, and energy. With a deep-seated understanding of varied business environments, Grand View Research provides strategic objective insights. For more information, visit www.grandviewresearch.com
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