ECG Equipment and Management System Market Report Scope & Overview:

The ECG Equipment and Management System Market is anticipated to arrive at USD 11.32 billion by 2031. From 2024 to 2031, the market is assessed to develop at a CAGR of 6.2%. During the forecast time frame, the rising pervasiveness of cardiovascular arrhythmia and mechanical enhancements are supposed to drive market development.

The growing elderly population is likely to be a major driver of the ECG equipment and management system market. The National Institute on Aging (NIA), which is part of the National Institutes of Health, estimates that 8.5% of the world's population (617 million) is 65 or older. In 2017, 25.7% of Europe's population was 60 or older, with that number expected to rise to 32.2% by 2050.

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Diabetes and cardiovascular disease risk rise with age, resulting in a higher prevalence of both diseases in persons aged 60 and up. According to research published by the American Heart Association in 2016, around 85.6 million adults in the United States suffer from one or more cardiovascular illnesses, including approximately 43.7 million adults over the age of 60.

Market Dynamics

Drivers

• The important reasons supporting ECG market share growth are technological advances in ECG devices.

• An increase in the demand for ECG is due to an increase in the number of ECG examinations performed for those at risk of cardiac illness.

Restrains

• The fierce competition between the sellers in this market

• A huge number of product recalls and low reimbursement rates for cardiovascular disorders

Opportunities

• The increased use of monitoring equipment due to the aging population and advances in imaging modalities

Challenges

• A scarcity of qualified electrocardiograph operators

Impact Of COVID-19 Analysis

Covid-19 has had an impact on the Electrocardiograph market, resulting in a considerable decline in Electrocardiograph sales due to a lack of visits to healthcare facilities such as hospitals and clinics. The proliferation of the coronavirus has an impact on workforce and staffing difficulties, as well as the prioritization of procedures. These factors have influenced the Electrocardiograph market by causing primary care appointments to be canceled in hospitals and reflecting patients' fears of infection.

KEY Market Segmentation:

By Type

• Holter Monitors

• Resting ECG System

• Stress ECG Monitors

• Event Monitoring Systems

• ECG Management Systems

By End-use

• Hospitals & Clinics

• Ambulatory Facilities

• Others

Regional Analysis

Because of the high prevalence of cardiovascular illnesses, higher healthcare expenditure, and a large senior population base, the North American electrocardiograph market dominated the global ECG market in 2021 furthermore, is probably going to keep on doing as such during the forecast time frame.

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REGIONAL COVERAGE:

North America

• USA

• Canada

• Mexico

Europe

• Germany

• UK

• France

• Italy

• Spain

• The Netherlands

• Rest of Europe

Asia-Pacific

• Japan

• south Korea

• China

• India

• Australia

• Rest of Asia-Pacific

The Middle East & Africa

• Israel

• UAE

• South Africa

• Rest of Middle East & Africa

Latin America

• Brazil

• Argentina

• Rest of Latin America

Key Players:

Teh Major Players are BioTelemetry Inc, CompuMed, Inc, Mindray Medical, Hill Rom, Nihon Kohden Corporation, McKesson Corporation, Drägerwerk AG & Co. KGaA Mindray Bio-Medical Electronics Co Ltd, Meditech Equipment Co Ltd, Schiller AG, Spacelabs Healthcare, Device Technologies, ZOLL Medical Corporation, Medical ECONET GmbH, GE Healthcare, Koninklijke Philips N.V, CardioComm Solutions, Inc. and Other Players.

BioTelemetry Inc-Company Financial Analysis