ECG Equipment Market Size, Segmentation, Opportunities, Trends, Growth and Industry Forecast To 2022 by Credence Research
According to the latest publication by Credence Research,
Inc. “Global ECG Equipment Market -
Growth, Share, Opportunities, Competitive Analysis, and Forecast, 2016 -
2022,” the ECG equipment market was valued at USD 4055 Mn in 2015,
and is expected to reach USD 6120 Mn by 2022, expanding at a CAGR of 6.1%
from 2015 to 2022.
Browse the full report Global
ECG Equipment Market - Growth, Share, Opportunities, Competitive Analysis, and
Forecast, 2016 – 2022 at http://www.credenceresearch.com/report/ecg-equipment-market
Market Insights
Innovative advancement in
communication technologies and low power circuit plan have empowered the
development of better and more secure ECG equipment, which are convenient, work
with lower force utilization, more exact, and have the ability to incorporate
the latest diagnostic features. Innovative developments such as, cloud storage,
wireless communications and advanced data analytics tools are creating huge
opportunities in the ECG equipment market. ECG with its advanced features to
incorporate ECG record to the patient's electronic medicinal record (EMR)
enables hospital’s workflow to be effectively streamlined. EMR helps in
remotely securing the ECG information which can be used further for analysis.
Rising incidence of cardiovascular disease has required continuous checking of
heart patients, which substantially enhances the demand for cardiac monitoring
equipment and associated supplies.
The global ECG market is expected to
reach $ 6120 million by 2015 at a CAGR of 6.1%. The North American segment
accounts for nearly 44% percent of the global market value in 2015 followed by
APAC. Also Asia-Pacific is the fastest growing region with a CAGR of 6.6%
during 2015-2022. With the development of better and safer, portable, power
efficient ECG devices that are more accurate, the market will be witnessing
growth in resting ECG and Holter monitor systems.
The foremost purpose of ECG is to
assess heart’s electrical activities. The key expectation of customers from
ideal ECG equipment is to produce accurate results within its operating range
in a consistent and reliable way. Generally ECG monitors use analogous mechanisms
for scanning data and differ in material used and manufacturing pattern. The
foremost example is high-equity ECG systems (6and 12 Channel ECGs) which are
multi processors and can provide more accurate results, and due to this has
gain a respectable market share in the ECG market.
Price plays a significant role a
while planning strategies for capturing market share, as customers prefer high
quality products at low price. Particularly for Indian market, most of the
companies are manufacturing low cost equipment which reflects that the market
is highly competitive in nature. In 2009, around 34,000 units of ECG equipment
were sold in the Indian Market, having a total value of Rs. 103 crore. This is
an increase from 33,000 units sold in 2008. For example, In 2015 Philips
launched Effica ECG100, claimed to be a cost effective cardiograph and
improving patient care outcomes at reduced costs.
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ECG Equipment Market Size, Segmentation, Opportunities, Trends, Growth and Industry Forecast To 2022 by Credence Research
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