December 22nd, 2022
Wireless ECG Devices Market accounted for US$ 1.0 billion in 2019 and is estimated to be US$ 3.1 billion by 2029 and is anticipated to register a CAGR of 12.1%.
Rising cases of cardiovascular diseases (CVDs) along with growing geriatric population pool will positively influence wireless ECG devices industry growth in the coming years. As per Centers for Disease Control and Prevention (CDC), in the U.S., around 6,10,000 individuals die from heart diseases per year.
The report "Global Wireless ECG Devices Market, By Product Type (Monitoring ECG Systems (Remote Data Monitoring, Event Monitoring, and Continuous Cardiovascular Monitoring Systems) and Diagnostic ECG Systems (Rest ECG Systems, Stress ECG Systems, and Holter ECG Systems)), By End-User (Hospital/Clinics and Home-based User), and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Trends, Analysis and Forecast till 2029”.
Due to the outbreak of Covid-19 pandemic globally, imaging modalities is widely preferred by most healthcare professionals as it provides a primary diagnosis in a short time. All the imaging technologies involving nuclear imaging, wireless ECG devices have been used exhaustively to study Covid-19 and its effect on different patients in each demography. The increasing requirement for advanced imaging solutions is projected to drive the development studies globally. The report will account for Covid19 as a key market contributor.
· In May 2019, AliveCor received the U.S. FDA approval for KardiaMobile 6L, the first six-lead personal ECG device that uses a form factor to gather maximum information. This strategy will increase the company’s wireless ECG devices market product portfolio.
Growth in the prevalence of cardiovascular diseases (CVD), wherein long-term ECG monitoring is essential. The doctors can monitor and diagnose the patient remotely and on time due to introduction of wireless ECG. Earlier, the market studied was affected due to the high cost of wireless ECG. As the average price of ECG were high, these devices were unable to reach the rural and remote areas. However, presently, there are many cost- efficient and effective wireless ECG devices accessible. The availability of such devices has strengthened the adoption of wireless ECG. Furthermore, the integration of medical data with smart mobiles has developed as a new trend in cardiac patient care. Wireless technological advancements in CM & CRM devices have led to the introduction of mobile personal digital assistant (PDA) systems, mobile cardiac telemetry devices, and ambulatory event monitors.
Key Market Insights from the report:
The global wireless ECG devices market accounted for US$ 1.0 billion in 2019 and is estimated to be US$ 3.1 billion by 2029 and is anticipated to register a CAGR of 12.1%. The market report has been segmented on the basis of product type, end-user, and region.
· By product type, the continuous cardiovascular monitoring ECG systems segment is projected to rise in the coming years, owing to growing incidence of cardiovascular diseases and rising geriatric population, which is likely to expand the need for continuous cardiovascular monitoring of patients’ hearts throughout their daily routines.
· By end-user, the hospital/clinics segment estimated for the highest share of this market in 2019. This is attributed due to growing prevalence of CVDs, growing number of cardiac implant procedures, increasing number of patient visits to physician offices for diagnosis, and the presence of reimbursement for these procedures across developed markets.
· By region, the market in North America accounts highest revenue share to the global wireless ECG devices market due to growing demand for advanced medical technologies and increasing geriatric population.
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The prominent player operating in the global wireless ECG Devices market includes Aerotel Medical Systems Ltd., AliveCor Inc., BPL Medical Technologies, CardioComm Solutions Inc., GE Healthcare, iRhythm Technologies Inc., MediBioSense Ltd., Medtronic PLC., Nihon Kohden Corporation, WEB Biotechnology Pte. Ltd.
The market provides detailed information regarding industrial base, productivity, strengths, manufacturers, and recent trends which will help companies enlarge the businesses and promote financial growth. Furthermore, the report exhibits dynamic factors including segments, sub-segments, regional marketplaces, competition, dominant key players, and market forecasts. In addition, the market includes recent collaborations, mergers, acquisitions, and partnerships along with regulatory framework across different regions impacting the market trajectory. Recent technological advances and innovations influencing the global market are included into the report.
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