(PharmaNewsWire.Com, April 12, 2021 ) According to the new market research report ECG Market is expected to reach USD 10.3 billion by 2024 from USD 7.5 billion in 2019, at a CAGR of 6.4% during the forecast period.
The diagnostic electrocardiograph (ECG) market is dominated by players such as GE Healthcare (US), Philips Healthcare (Netherlands), Nihon Kohden (Japan), Hill-Rom Holdings (US), and Ambu (Denmark).
Factors such as the rising incidence of lifestyle & cardiovascular diseases and increasing geriatric population are expected to propel the growth of the market.
The 3-lead ECG segment is expected to grow at the highest CAGR in the diagnostic ECG market during the forecast period
By lead type, the diagnostic ECG market is divided into 12-lead, 5-lead, 3-lead, 6-lead, single-lead, and other lead types (15- and 18-lead). The 3-lead segment is expected to grow at the highest CAGR during the forecast period. This positive growth is primarily due to the fact that these leads are used conjointly with various other cardiac diagnostic tests and during medical procedures.
The hospitals, clinics, and cardiac centers segment accounted for the largest share of the diagnostic electrocardiograph (ECG) market in 2018
By end user, the market is classified into hospitals, clinics, and cardiac centers; ambulatory surgical centers; and other end users. In 2018, the hospitals, clinics, and cardiac centers segment accounted for the largest share of the market. The large share of this segment can primarily be attributed to the growing burden of cardiovascular diseases, which, in turn, is increasing the need for quality cardiology care.
On the basis of region, the diagnostic ECG market is segmented into North America, Europe, Asia Pacific, and RoW.
North America accounted for the largest share of the diagnostic ECG market. The large share of this regional segment can be attributed to the increasing prevalence of CVD, high disposable income, the presence of advanced healthcare infrastructure, high demand for medical devices, and technological advancements.
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