Ecg Equipment Market To Witness Growth Based On Government Initiatives To Make People Aware About Health Check-Ups Till 2020:Grand View Research,inc.
The global ECG equipment market is expected to reach USD 6.3
billion by 2022, 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.
U.S. ECG equipment market, by product, 2012 - 2022 (USD
Million)
Browse full research report on Ecg
Equipment Market
Further key findings from the report suggest:
- ECG
monitoring equipment has high future growth potential owing to changing
trend towards preventive care and new product innovation with data
integration. In February 2014, Medtronic launched its FDA approved Reveal
LINQ. The upgraded version of Reveal XT offers patient heart monitoring
for three years with 20% more data memory than its previous version.
- ECG stress
testing systems is one of the dominating segments of the market. The
growing need for flexible stress systems and comprehensive data management
is driving the market for this segment. Quinton 9500 series from Cardiac
Science portable system allows physicians to optimize the examination
space and enables more data integrations.
- Holter
monitoring systems is another segment, which is expected to gain
significant market share over the forecast period due to the fact that the
system assists in identifying arrhythmias that takes place during certain
activities such as exercise, stress, bowel movements, sleep, eating, and
stress
- 2M
Engineering Ltd. launched the VitaMove 2S ExG movement and ECG-recorder,
which is equipped with 3-lead ECG holter, that combines daily activities
with heart rate events/trends, ECG, and derivatives such as Heart Rate
Variability (HRV)
- North America
dominated the market in 2014 and is expected to grow at a CAGR of 5.8%
over the forecast period. With major industry players situated in North
America, the innovations and upgrading rates are higher as compared to
other regions. In August 2015, InfoBionic along with Safeguard Scientists
raised USD 8 million to commercialize Mome Kardia. Mome Kardia is a remote
patient monitoring system based on the cloud technology that could be worn
around the neck.
- Asia Pacific
is expected to witness substantial growth during the forecast period owing
to the rising incidence rate of heart diseases and growing manufacturing
outsourcing in the region
- According to
the Government of India, the prevalence of heart failure in the nation due
to hypertension, obesity, coronary heart disease, obesity, rheumatic heart
disease, diabetes ranges from 1.3 to 4.6 million and an annual incidence
rate of 491,600 to 1.8 million
- As per a
report published by the Associated Chambers of Commerce and Industry of
India (ASSOCHAM), people have adopted unhealthy lifestyles along with
increasing stress levels, decreasing physical activity, tobacco smoking,
and increasing consumption of saturated fats
- Industry
players are constantly fueling the market with newer technologies or
upgrading existing technology. In May 2015, CardioComm Solutions, Inc.
launched HeartCheck PEN. This Bluetooth wireless connectivity pen could be
connected for data acquisition with Android and Apple smartphones.
- Apart from
technology innovations, many industry players are expanding their global
presence by signing distribution agreements with domestic distributors. In
October 2015, iNeedMD Holdings, Inc. signed a distribution agreement with
Clifton Africa Ltd. This one-year distribution agreement is worth USD 1.5
million.
- Key players
of the ECG equipment market include Medtronic, GE Healthcare, Philips
Healthcare, Schiller AG, Nihon Kohden, CardioComm Solutions, Inc., and
Johnson & Johnson.
For more information: http://www.grandviewresearch.com
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