Single Lead ECG Equipment Market Size, Share & Trends Analysis Report By End Use (Hospitals & Clinics, Homecare, ASCs), By Indication (Arrhythmia, Syncope), And Segment Forecasts, 2019 - 2025

Report Overview

The global single-lead ECG equipment market size was valued at USD 337.08 million in 2017. It is anticipated to exhibit a CAGR of 4.72% during the forecast period. The application of single lead technology for monitoring heart rate during exercise, sports activities, and workout is projected to boost the adoption of these devices.

With the growing prominence of homecare, these devices are poised to gain strong momentum in the foreseeable future owing to a shift in trend towards personalized health monitoring solutions. Moreover, shifting preferences for cardiac assessment towards self-triaging before opting for complicated systems for analysis are leading to the emergence of smartphone and mobile-based single-lead ECG monitors, thereby driving the market.

In addition, several entities are integrating smartphone interoperability with ECG monitoring devices in order to provide immediate and easy access of ECG waveforms to users. Such practices are enabling improvement of patient outcomes in cardiovascular disease treatment. These technological advancements are likely to stimulate the growth of the market over the forecast period.

Besides this, favorable government initiatives for remote monitoring equipment are expected to promote technological progress in single-lead ECG/EKG equipment. However, unstable reimbursement policies for cardiology services, especially in developing regions, are expected to impede the growth of the market over the coming years.

Market participants are engaged in the enhancement of product features in order to gain customer attention and consequent adoption. Issues faced include the need for information management systems such that results can be directly shared with physicians for interpretation and consultation. However, initiatives based on customer centricity are anticipated to reduce the impact of such challenges.

Indication Insights

The demand for single-lead ECG/EKG devices is boosted by the rising incidence of cardiovascular diseases. According to the American Heart Association, more than 4 million patients are suffering from arrhythmias and causes approximately half a million deaths each year in the U.S.

Continuous R&D has led to the evolution of portable single-lead ECG devices that work well for the diagnosis of arrhythmias, syncope, or to monitor risks that may lead to cardiovascular disorders. For instance, HeartScan ECG Monitor, manufactured by Omron Corporation can be used by patients suffering from diabetes, hypertension, hypercholesterolemia, and obesity to assess CVD risks.

The advent of artificial intelligence technology and cloud-based storage systems has enabled ease of usage of these devices significantly. With the usage of these devices, fewer clinic visits, and reduction in the cost of monitoring, coupled with a speedy and accurate diagnosis, can be achieved. In addition to this, intermittent giddiness or presyncope in patients can be monitored, and thus, providing a definitive treatment with pacemaker becomes possible before syncope occurrence.

End-use Insights

With an increase in the use of smartphones and tablets for health-related applications, portable single-lead ECG equipment for home/ambulatory services is projected to register lucrative revenue growth over the forecast period. Various social and health awareness public platforms are utilized for the promotion of final products in order to fuel product uptake.

Furthermore, cost-effectiveness associated with the application of this technology is poised to bolster its usage and penetration in home health care settings. These devices majorly fulfill aspects related to timing and rhythm information. However, certain limitations such as the inability to serve aspects of heart functioning reduce the prescription rate from the physician’s end.

Regional Insights

North America dominated the global single-lead ECG equipment market in 2017, owing to ongoing developments in-home and ambulatory health care in the region. Moreover, this region is experiencing a high mortality rate due to the increased incidence of cardiovascular diseases, which in turn, stirs up the demand for such home-use technology.

On the other hand, Asia Pacific is likely to witness the fastest growth during the forecast period. Emerging economies, the growing popularity of wearable devices, constantly developing infrastructure, and the presence of the target population are among the primary growth stimulants for the regional market.

The market in developing economies such as India is growing by virtue of collaborations with the government in order to build healthcare infrastructure and provide advanced primary healthcare services. Rising inclination of customers towards mobile phone associate devices is also contributing to the growth of the market during the forecast period.

Single Lead ECG Equipment Market Share Insights

Key players operating in the market are involved in introducing novel algorithms and products for the market. Some major players in the market are Dimetek Digital Medical Technologies, Ltd; AliveCor, Inc.; Tianjin Chase Sun Pharmaceutical Group (Beijing Choice Electronic Tech Co., Ltd); Perlong Medical Equipment Co., Limited; Ambisea Technology Corp., Ltd; SUZU.K.EN CO., Limited (KENZ); Inc.; Eurocamina; Longfian Scitech Co. Limited; DailyCare BioMedical, Inc., OMRON Corporation, and Zenicor Medical Systems.

Companies have been undertaking several initiatives for the performance of clinical studies to increase the credibility of products. In addition, market entities are engaged in generating evidence for gaining U.S. FDA and CE approval and enhance respective market share. The external competition to this technology is 12 lead portable ECG devices, which are expected to impede the growth to a certain extent.

Single Lead ECG Equipment Market Report Scope

Segments Covered in the Report

This report forecasts revenue growth at regional & country levels and provides an analysis of industry trends in each of the sub-segments from 2014 to 2025. For the purpose of this study, Grand View Research has segmented the global single lead ECG equipment market report on the basis of indication, end-use, and region:

• Indication Outlook (Revenue, USD Million, 2014 - 2025)

  • Syncope

  • Arrhythmia

    • Atrial Fibrillation (AF)

    • Tachycardia

    • Bradycardia 

  • Other Indications

• End-Use Outlook (Revenue, USD Million, 2014 - 2025)

  • Hospitals & Clinics

  • Home-care

  • Ambulatory Surgical Centers (ASCs)

• Regional Outlook (Revenue, USD Million, 2014 - 2025)

  • North America

    • The U.S.

    • Canada

  • Europe

    • Germany

    • U.K.

  • Asia Pacific

    • Japan

    • China

  • Latin America

    • Brazil

  • MEA

    • South Africa