According to a report,“U.S. ECG Equipment Market Size, Share & Trends Analysis Report By Type (Resting ECG, Holter Monitors, Stress ECG Monitors, Event Monitors), By End Use, By Region, And Segment Forecasts, 2019 – 2026 ” published by Grand View Research, Inc., The U.S. ecg equipment market size is expected to reach USD 2.8 billion by 2026, based on a new report by Grand View Research, Inc., registering a 5.7% CAGR during the forecast period. Rise in prevalence of cardiovascular diseases in the country, availability of various monitoring devices, and technological advancements are among key factors driving the U.S. electrocardiograph device market.
Key Takeaways from the report:
Rising incidence of cardiac diseases and growing geriatric population are expected to propel market growth in the coming years
By type, the resting ECG system segment accounted for the largest share in the market and is expected to witness significant growth during the forecast period. This can be attributed to availability of several commercial products, improved clinical accuracy due to advanced data analysis tools to detect heart-related problems, and high penetration in large hospitals
The Holter monitor segment is expected to witness the fastest growth over the forecast period owing to portability of these devices, cost-effectiveness, and ability to record heart’s electrical activity for a longer duration
By end use, hospitals accounted for the largest share in 2018 as majority of patients rely on hospitals than other healthcare facilities due to the availability of well-equipped devices and latest monitoring software
Based on geography, the south region accounted for the dominant share in 2018 and is expected to maintain its lead throughout the forecast period due to a large target population and presence of a high number of hospitals
Advancements in medical technology and availability of portable ECG devices have led to an increase in diagnosis rate, as these systems facilitate immediate transfer of data pertaining to outpatient procedures. This is expected to drive demand for ambulatory care centers during the forecasts period
Some of the key players are BioTelemetry, Inc.; CardioComm Solutions, Inc.; Compumed Inc.; GE Healthcare; Mindray Medical; Hill Rom; NIHON KOHDEN CORPORATION; Philips Healthcare; Schiller AG; Spacelabs Healthcare; Welch Allyn; and McKesson Corporation.
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Increase in investment by various market players and the U.S. government for development and commercialization of various easy-to-use equipment is also likely to drive the market. For instance, in September 2017, the U.S. FDA approved an app-driven, easy-to-clean, and fully reusable ECG device manufactured by NimbleHeart. The device can be wrapped around a user’s torso and used without electrolytic gels and adhesives. Hence, it can be cleaned easily, thereby making the product ideal for multi-patient use.
In May 2018, Preventice Solutions launched BodyGuardian Mini, a reusable long-term and smallest Holter technology for cardiac monitoring. The new technology includes an ultra-small cardiac monitor that can measure ECG up to 14 days and can transfer data to a physician in an easy-to-read report. Hence, launch of such technologically advanced products to address the needs of physicians and patients is expected to boost market growth in the coming years.
Grand View Research has segmented the U.S. ECG equipment market by type, end use, and region:
U.S. ECG Equipment Type Outlook (Revenue, USD Million, 2015 – 2026)
Resting ECG System
Stress ECG Monitors
U.S. ECG Equipment End-use Outlook (Revenue, USD Million, 2015 – 2026)
U.S. ECG Equipment Region Outlook (Revenue, USD Million, 2015 – 2026)
About Grand View Research
Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.
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