How Has The ECG Monitoring Equipment Market Size Evolved In Recent Years?
The ecg monitoring equipment market has seen considerable growth due to a variety of factors.
• The market size of ECG monitoring equipment has seen significant expansion in the past few years. The projected increase is from $4.92 billion in 2024 to $5.29 billion in 2025, leading to a Compound Annual Growth Rate (CAGR) of 7.6%.
Factors contributing to this growth during the historic period include increased demand for preliminary diagnostic procedures, a surge in health insurance policy numbers, expansion in healthcare facilities, a growing preference for portable and wearable ECG devices, and a heightened emphasis on personalized healthcare services.
What Are The Predictions for The ECG Monitoring Equipment Market Size In The Coming Years?
The ecg monitoring equipment market is expected to maintain its strong growth trajectory in upcoming years.
• The market size of ECG monitoring equipment is predicted to witness substantial growth in the upcoming years, expanding to $7.01 billion by 2029 at a CAGR of 7.3%.
The anticipated growth in the forecast timeframe can be credited to the surge in healthcare investments, growth in the elderly population, an increased focus on preventive healthcare, growth in telemedicine requirement, and a higher incidence of cardiovascular ailments. Key trends predicted for the forecasting span comprise advanced technology, telemedicine, wearable ECG devices, diagnostic tools, and monitoring at home.
Which Key Drivers Are Propelling Th ECG Monitoring Equipment Market's Growth?
The rise in cardiovascular disease cases is anticipated to fuel the ECG monitoring equipment market's expansion. Cardiovascular diseases, encompassing heart disease, stroke, and hypertension, pertain to a range of disorders impacting the heart and blood vessels. This escalation of cardiovascular diseases can be attributed to aspects like unhealthy lifestyles, poor nutrition, sedentary lifestyle, rising obesity rates, aging demographics, and a heightened incidence of risk factors such as hypertension and diabetes. ECG monitoring tools aid individuals with cardiovascular disease by supplying continuous, real-time information on heart activity, allowing for the prompt identification of inconsistencies, timely interventions, and efficient management of conditions like arrhythmias, heart failure, and ischemic heart disease. This ultimately results in improved patient outcomes and minimizes the risk of serious complications. As an example, information released by the British Heart Foundation in September 2024 indicates that in the UK, nearly 7.6 million people suffer from heart and circulatory diseases, with about 4 million males and 3.6 million females affected. These diseases account for roughly 27% of total UK deaths, resulting in over 170,000 deaths a year, or about 480 deaths daily. This equates to one person dying every three minutes. Therefore, the growing incidence of cardiovascular diseases will spur the growth of the ECG monitoring equipment market.
What Are The Core Segments Of The Globa ECG Monitoring Equipment Market?
The ECG monitoring equipment market covered in this report is segmented –
1) By Product Type: Resting Electrocardiogram System, Holter Monitor Systems, Stress Electrocardiogram Monitors, Event Monitoring System, Other Product Types
2) By Technology: Wireless, Wired
3) By End User: Hospitals, Ambulatory Care, Other End Users
Subsegments:
1) By Resting Electrocardiogram System: Single-lead ECG Systems, Multi-lead ECG Systems
2) By Holter Monitor Systems: 24-hour Holter Monitors, 48-hour Holter Monitors, 72-hour Holter Monitors
3) By Stress Electrocardiogram Monitors: Treadmill Stress ECG Monitors, Exercise Stress ECG Monitors, Pharmacological Stress ECG Monitors
4) By Event Monitoring System: Wireless Event Monitors, Mobile Event Monitors
5) By Other Product Types: Implantable Loop Recorders (ILR), Wearable ECG Monitors
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Which Emerging Trends Are Reshaping The ECG Monitoring Equipment Market Size?
Firms at the forefront of the ECG monitoring equipment market are turning their attention towards the development of advanced products. These products include reusable ECG patches, which provide superior comfort and extended wearability, along with continuous monitoring capabilities. This focus is aimed at increasing patient compliance and enabling more precise long-term cardiac evaluations. Such reusable ECG equipment refers to devices made for uninterrupted or periodic heart activity monitoring that can be cleaned, sterilized, and utilized repeatedly. For example, in May 2024, Vivalink, a wearable medical device manufacturer based in Canada, introduced a comprehensive ambulatory cardiac monitoring solution that is ready for immediate use and is explicitly designed for remote cardiac health monitoring in ambulatory care settings. These devices often showcase reusable ECG patches with extended battery life and substantial data storage abilities, mobile applications for uninterrupted real-time data transfer, and clinician portals for in-depth analysis and customizable reporting. This strategy is aimed at simplifying cardiac monitoring service deployment, refining diagnostic accuracy, bettering patient results, and reducing operational issues and costs for healthcare practitioners.
Who Are the Key Players in the ECG Monitoring Equipment Market?
Major companies operating in the ECG monitoring equipment market are include:
• General Electric Company
• Koninklijke Philips N.V.
• Mindray Medical International Limited
• Nihon Kohden Corporation
• Spacelabs Healthcare
• Welch Allyn Inc.
• Fukuda Denshi Co. Ltd.
• iRhythm Technologies Inc.
• Schiller AG
• BPL Medical Technologies Pvt Ltd
• AliveCor Inc.
• Mortara Instrument Inc.
• Neurosoft Ltd.
• Allengers Medical Systems Ltd.
• Opto Circuits (India) Limited
• Customed GmbH
• Bionet
• ACS Diagnostics Inc.
• Clarity Medical
• CORTEX Biophysik GmbH
• Norav Medical Ltd.
What are the Regional Insights into the ECG Monitoring Equipment Market?
North America was the largest region in the ECG monitoring equipment market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the ECG monitoring equipment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
