ECG Equipment And Management Systems Market Size, Share & Trends Report

ECG Equipment And Management Systems Market Size, Share & Trends Analysis Report By Type, By End Use (Hospitals & Clinics, Ambulatory Facilities), By Region (North America, Europe, APAC, Latin America, MEA), And Segment Forecasts, 2020 - 2027

  • Published Date: Nov, 2020
  • Base Year for Estimate: 2019
  • Report ID: GVR-2-68038-016-3
  • Format: Electronic (PDF)
  • Historical Data: 2016 - 2018
  • Number of Pages: 141

Report Overview

The global ECG equipment and management systems market size was valued at USD 5.6 billion in 2019 and is expected to expand at a compound annual growth rate (CAGR) of 6.1% from 2020 to 2027. The growing prevalence of cardiac arrhythmia and increasing demand for ambulatory monitoring devices are expected to drive the market. The rising geriatric population, technological advancements, and advancements in ECG equipment and management systems are expected to boost market growth over the forecast period.

U.S. ECG equipment and management systems market size, by end use, 2016 - 2027 (USD Billion) 

The rise in the geriatric population is expected to be a major factor driving the market for ECG equipment and management systems. According to the National Institute on Aging (NIA)-a part of the National Institutes of Health-8.5% of the people worldwide (617 million) is aged 65 or older. In Europe, the population aged 60 years or above was 25.7% in 2017, which is projected to increase to 32.2% by 2050.

The risk of diabetes and cardiovascular diseases increases with age, which results in a higher incidence of these diseases in adults aged 60 and above. According to a study published by American Heart Association in 2016, about 85.6 million adults in the U.S. suffer from one or more cardiovascular diseases, of which, about 43.7 million adults are estimated to be more than 60 years of age.

The shift from paper ECG review to electronic ECG equipment and management systems over the past decade has helped improve efficiency. Moreover, improvement in the ECG equipment and management system such as the development of the open platform has improved integration with Cardiovascular Information Systems (CVIS), smartphones, and cloud-based systems. For instance, in April 2016, GE Healthcare introduced a new version of Muse ECG management system-MUSE v9-that allows clinicians better access to all ECG waveforms and related data from multiple vendors, devices, and test types.

End-use Insights

The hospitals and clinics segment dominated the market for ECG equipment and management systems and accounted for the largest revenue share of more than 43.0% in 2019. This growth is due to the increasing prevalence of cardiac arrhythmias and the rising adoption of Holter devices in hospitals.

The ambulatory facilities segment is expected to witness a CAGR of 6.2% during the forecast period. Technological advancements, shifting interest toward ambulatory centers for treatment, and availability of advanced portable devices like ECG equipment and management systems for ambulatory ECG monitoring are driving the segment growth. As these devices facilitate immediate transfer of data pertaining to outpatient procedures, demand for such devices is increasing in ambulatory centers for accurate assessment of cardiac arrhythmias.

Type Insights

Resting ECG system dominated the type segment with a revenue share of more than 57.0% in 2019. The growth of the segment is characterized by improved clinical accuracy due to new product launches, advanced data analysis tools, and several technological advancements for better care and accurate diagnosis. The ECG management systems segment is expected to grow at the fastest rate over the forecast period.

Global ECG equipment and management systems market share, by type, 2019 (%)

Regional Insights

North America dominated the ECG equipment and management systems market and accounted for a revenue share of 45.7% in 2019. This is owing to the increasing geriatric population and lifestyle diseases. According to data published by the CDC in June 2020, heart disease accounts for around 647,000 deaths in the U.S. each year. On average, one person dies due to CVD every 37 seconds in the U.S. Furthermore, approval and launch of advanced, next-generation ECG equipment and management systems in the U.S. and Canada and high adoption of wearable devices are likely to boost the growth of the market in the region.

Rising incidence of CVDs, growing geriatric population, and favorable regulatory conditions are expected to boost the growth of the market for ECG equipment and management systems during the forecast period in Europe. In the Asia Pacific, technological advancements, such as wireless and real-time monitoring, increase in healthcare spending, and support from regulatory bodies are anticipated to promote market growth. According to the American Heart Association, among Asians, 6.1% of people have heart diseases, 21.0% have hypertension, 1.9% have had a stroke, and 3.7% have Coronary Heart Disease (CHD). Thus, the presence of a large patient pool, availability of high-quality services, and increasing medical tourism are likely to drive the market for ECG equipment and management systems in the Asia Pacific during the forecast period.

Key Companies & Market Share Insights

The market for ECG equipment and management systems is characterized by the growing prevalence of cardiac arrhythmia and initiatives such as mergers and acquisitions and partnerships by market players. For instance, in 2020, CompuMed extended its partnership with AliveCor and GE Healthcare to expand its product offerings in mobile electrocardiogram (ECG) and ultrasound solutions. The products include AliveCor Heart Monitor, CompuMed powered GE MAC 800, and a pocket-sized visualization tool. Some of the prominent players in the ECG equipment and management systems market include:

  • GE Healthcare

  • Nihon Kohden Corporation

  • BioTelemetry, Inc.

  • CompuMed, Inc.

  • Schiller AG

  • Mindray Medical

  • Hill Rom

  • Koninklijke Philips N.V.

  • Spacelabs Healthcare

  • McKesson Corporation

  • Drägerwerk AG & Co. KGaA

  • Mindray Bio-Medical Electronics Co., Ltd.

  • Meditech Equipment Co., Ltd.

  • CardioComm Solutions, Inc.

  • Device Technologies

  • Meditech Equipment Co., Ltd.

  • ZOLL Medical Corporation

  • Medical ECONET GmbH

ECG Equipment And Management Systems Market Report Scope

Report Attribute

Details

Market size value in 2020

USD 5.9 billion

Revenue forecast in 2027

USD 8.9 billion

Growth rate

CAGR of 6.1% from 2020 to 2027

Base year for estimation

2019

Historical data

2016 - 2018

Forecast period

2020 - 2027

Quantitative units

Revenue in USD million and CAGR from 2020 to 2027

Report coverage

Revenue forecast, company share, competitive landscape, growth factors & trends

Segments covered

Type, end-use, region

Regional scope

North America; Europe; Asia Pacific; Latin America; Middle East & Africa

Country scope

U.S.; Canada; U.K.; Germany; Japan; China; Brazil; Mexico; South Africa

Key companies profiled

BioTelemetry, Inc.; GE Healthcare; CompuMed, Inc.; Schiller AG; Mindray Medical; Hill Rom; Nihon Kohden Corporation; Koninklijke Philips N.V.; Spacelabs Healthcare; McKesson Corporation; Drägerwerk AG & Co. KGaA; Mindray Bio-Medical Electronics Co., Ltd.; CardioComm Solutions, Inc.; Meditech Equipment Co., Ltd.; Device Technologies; ZOLL Medical Corporation; Medical ECONET GmbH

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Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2016 to 2027. Grand View Research has segmented the global ECG equipment and management systems market report based on type, end-use, and region:

  • Type Outlook (Revenue, USD Million, 2016 - 2027)

    • Holter Monitors

    • Resting ECG System

    • Stress ECG Monitors

    • Event Monitoring Systems

    • ECG Management Systems

  • End-use Outlook (Revenue, USD Million, 2016 - 2027)

    • Hospitals & Clinics

    • Ambulatory Facilities

    • Others

  • Regional Outlook (Revenue, USD Million, 2016 - 2027)

    • North America

      • U.S.

      • Canada

    • Europe

      • U.K.

      • Germany

    • Asia Pacific

      • China

      • Japan

    • Latin America

      • Brazil

      • Mexico

    • Middle East & Africa

      • South Africa

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