Electrocardiogram (ECG) restingsystem, ECG Holter monitoring system, ECG stress testing system, andcardiopulmonary stress testing system are some of the widely used ECG systems.Resting ECG device detects arrhythmias while the patient is in restingposition. These devices are widely used in hospitals and cardiology clinics.Holter ECG monitoring device is portable and is used for continuous monitoringof heart activities. It can be used to detect occasional cardiac arrhythmias.
Statistics:
The global Electrocardiogram(ECG) Devices Market is estimated to account for US$ 5,589.3 Mn in terms ofvalue by the end of 2027.
Global Electrocardiogram (ECG)Devices Market: Drivers
Low cost of ECG services isexpected to propel growth of the global Electrocardiogram (ECG) Devices marketover the forecast period. For instance, the cost of an electrocardiogram rangesfrom US$ 76 to US$ 240.
Global Electrocardiogram (ECG)Devices Market: Opportunities
Use of non-conventional energysources in Electrocardiogram (ECG) Devices is expected to offer lucrativegrowth opportunities for players in the market. For instance, in May 2019,researchers from Pukyong National University, South Korea, reported designingan ECG device that is powered by solar energy with an output voltage of 2.4 Vand a power out of 0.25 W.
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Global Electrocardiogram (ECG)Devices Market: Restraints
Inaccuracy of wearableElectrocardiogram (ECG) Devices is expected to hinder growth of the globalElectrocardiogram (ECG) Devices market. Electrocardiogram (ECG) Devices oftenoffer false diagnostics of heart conditions. For instance, according to aresearch published in April 2019 by the Harvard Medical School, 30% of wearabledevices yield inaccurate results.
Key Takeaways:
The ECG Resting System segment inthe global Electrocardiogram (ECG) Devices market was valued at US$ 2,226.2 Mnin 2019 and is expected to reach US$ 3,089.4 Mn by 2027 at a CAGR of 4.2%during the forecast period. Increasing adoption of expansion strategies frommajor players operating in the market to enhance their product portfolio andexpand geographical footprint is anticipated to drive the growth of the segmentduring the forecast period.
The hospital segment helddominant position in the global Electrocardiogram (ECG) Devices market in 2014,accounting for 54.6% share in terms of value during the forecast period.Increasing prevalence of cardiovascular diseases (CVDs) is expected to boostgrowth of the segment during the forecast period.
Market Trends
Minor ST depression in the ECG isassociated with cardiovascular disease and increased mortality. For instance,according to a study published in the Journal of Electrocardiology in December2019, lower ST levels in ECG lateral leads are linked with all-cause mortality.
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Artificial Intelligence (AI) canbe used for automatic detection of hypoglycaemia using ECG. For instance, inJanuary 2020, researchers at University of Warwick, U.K., reported the use ofpersonalized medicine approach and AI to automatically detect nocturnalhypoglycemia using a few heartbeats of raw ECG signal recorded with non-invasive,wearable devices.
Regulations
Regulations for wireless devices:
In the U.S., wireless medicaldevices are regulated by Food and Drug Administration (FDA), FederalCommunications Commission (FCC), and Centers for Medicare and Medicaid Services(CMS)
Global Electrocardiogram (ECG)Devices Market: Competitive Landscape
Major players operating in theglobal Electrocardiogram (ECG) Devices market include, Cardiac Insight Inc., Koninklijke PhilipsN.V., General Electric Company, CardioNet Inc., Mindray Medical InternationalLimited, Spacelabs Healthcare (a subsidiary of OSI Systems Inc.), Schiller AG,Compumed Inc., Nihon Cohden Corporation, and Welch Allyn Inc..
Global Electrocardiogram (ECG)Devices Market: Key Developments
March 2019: VivaLNK, a connectedhealthcare solutions provider, launched its IoT-enabled medical wearable SensorPlatform that enables internet of health things (IoHT) solution partners toeasily capture streams of patient data such as temperature and ECG rhythms
July 2018: LifeSignals Group Inc.received the U.S. FDA clearance for its wireless LP1100 Life Signal Patch, awearable ECG patch
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