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ECG Management Systems Market Size, Trends, Shares, Insights and Forecast – 2018-2026
ECG Management Systems Market Size, Trends, Shares, Insights and Forecast – 2018-2026
“Coherent Market Insights “ECG MANAGEMENT SYSTEMS MARKET – GLOBAL TRENDS, ESTIMATES AND FORECASTS, 2020-2027?

ECG Management System RegionalAnalysis:

ECGmanagement system market is geographically segmented into six regions –North America, Latin America, Middle East, Europe, Asia Pacific and Africa.North America dominates ECG management system market due to high adoption rateof advanced technology and increasing prevalence of cardiac diseases. Accordingto the American Heart Association’s 2017 report, around 92.1 million people inthe U.S. were suffering from some form of cardiovascular disease or theafter-effects of stroke. Furthermore, about 2,200 people die of cardiovasculardisease every day in America. Asia Pacific is expected to be the fastestgrowing ECG management system market region over the forecast period. This isattributed to increasing awareness about technology and increasing number ofhospitals.

ECG management system is aweb-based electronic medical record that offers better workflow efficiency byprocessing, storing, and distributing the cardiovascular information betweendoctors and patients. Winchester Medical Center, in 1991, initiated conversionof ECG records from paper form to electronic form before, which records werefiled in a central location. ECG management systems has advanced in past fewdecades with the improvement in efficacy and maintenance of medical records inelectronic form. Electrocardiogram (ECG) databases play an important role inmedical and pharmaceutical research, and healthcare. The rising number of ECGdata demands for centralizing the diagnostic information with suchtechnologies. The streamlining of cardiology workflow with informationtechnology will aid hospitals in the management of larger number of ECG dataand patients.

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ECG Management System MarketDrivers:

Technological advancements by keyplayers plays a major role in the expansion of ECG management system market.Previously, these ECG diagnostic systems had the basic cardiac diagnostictechnology, which were used to provide and store basic information related tohospitals were premise remained the same. However, testing systems andmanagement facilities are continuously evolving to meet the unmet demands. ECGmanagement system market provides wide opportunity for manufacturers to come upwith cost effective ECG management system. For instance, in 2014, GE Healthcareintroduced an upgrade Muse with i2 ECG technology, which allows bi-directionalflow of data with non- GE based ECG systems. Furthermore, in 2014, McKessoncleared FDA approval for mobile medical software app called McKesson CardiologyECG Mobile. This system aims to reduce non-productive time by providing accessto ECG data for review and report. ECG management system’s stored data alsohelps in reducing chest pain management. For instance, in 2011, LUMEDXCorporation released HealthView Chest management solution, which produce ECGand compile patient’s historical information before hospitalization.

The ECG management system marketplayers are adopting strategies to expand their product portfolio, therebyexpanding their market share. For instance, in 2015, Cerner Corp. partneredwith Mortara Instrument to introduce CareAware Waveform Management. CareAwareWaveform Management offers physiologic waveforms, data, and alarms on devicethat aid in accessing patient record. All these technological advancements areexpected to augment the ECG management system market over the forecast period.Furthermore, partnership between manufacturers and users such as hospitals andclinics for product promotion and installation will also expand the ECGmanagement system market. For instance, in 2017, ScImagae, Inc. announced itspartnership with WVU Medicine West Virginia University Health system to utilizeScImage’s PICOM365 Enterprise PACS throughout 8 WVU Medicine Hospitals.

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Moreover, the expansion of globalECG management market is attributed to increasing number of ECG test ofpatients suffering from cardiovascular disease. According to the World HealthOrganization (WHO), 17.7 million people died of cardiovascular disease in 2015,which represent around 31% of deaths occurred globally. Increasing number ofcardiovascular disease patients with larger number of ECG data demands forbetter data management system, which is expected to drive the ECG managementsystem market. Moreover, increasing number of heart related disorders amonggeriatric population and increasing number of healthcare facilities will alsoboost the ECG management system market. Furthermore, the governmental programsincreases the awareness for annual health examination and ECG is performed as apart of annual health exam by the patients with no known cardiac conditions,which will increase the demand for ECG management system.

ECG Management System -Competitors:

Philips Healthcare, GEHealthcare, Cardiac Science Corporation, CardioComm Solutions, Inc., NoravMedical, Nihon Kohden Corporation, Mortara Instrument and Suzuken Kenz are someof the major players in the ECG management system market.

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