Diagnostic ECG Market to Reach $11.3 Billion by 2028

1
Diagnostic ECG Market- Global Forecasts to 2028
The global Diagnostic Electrocardiogram (ECG)
market is projected to reach USD 11.3 billion by
2028 from USD 8.1 billion in 2023, at a CAGR of
6.9 during the forecast period. The increasing
prevalence of patients suffering from
cardiovascular disease (CVD), rapidly growing
geriatric population at a higher risk of
developing heart conditions, and significant
advancements in wireless monitoring and wearable
devices are anticipated to accelerate the growth
of market during the forecast period. However,
the shortage of skilled professionals in many
developing countries is expected to hinder the e
growth of the diagnostic ECG market. Download
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fdownloadNew.asp?id173 Based on product type,
the diagnostic ECG market is segmented into
devices and software Services. The devices
segment is categorized into resting ECG devices,
stress ECG devices, Holter monitors, event
monitors, implantable loop recorders, mobile
cardiac telemetry devices, and smart ECG
devices. The resting ECG devices segment captured
the larger share of diagnostic ECG market in
2022. The larger share of this segment is
attributed to the wider adoption of resting ECG
for the diagnosis of cardiac abnormalities, low
cost of these devices, and presence of both
established and small players offering resting
ECG devices
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Diagnostic ECG Market- Global Forecasts to 2028
Based on lead type, the diagnostic
electrocardiogram (ECG) market is segmented into
patch type 12-lead, 5-lead, 3-lead, 6-lead,
single lead, and other lead types (such as 13
lead, 18- lead). In 2022, the 12-lead segment
accounted for the largest share of the diagnostic
ECG as 12 lead ECG provides more information
on diagnosis of cardiac abnormalities like
cardiac arrhythmia in comparison to Holter
monitors, thus increasing its adoption among
physicians Based on end user, the diagnostic
electrocardiogram (ECG) market is segmented into
hospitals, clinics, and Cardiac Centers,
ambulatory surgical centers, and other end users.
The hospitals, clinics, and Cardiac Centers
segment accounted for the largest share of the
global market in 2022. The large share of this
segment is attributed to the increasing
prevalence of CVD, the growing number of patient
visits to hospitals cardiac centers for the
diagnosis of CVD, and the increasing number of
cardiac testing procedures performed in
hospitals, The diagnostic ECG market covers
five key geographiesNorth America, Europe,
Asia Pacific, Latin America and Middle East
Africa. The market in North America accounted for
the largest share of the market in 2022. The
large share of this regional segment can
primarily be attributed growing availability of
technologically advanced devices in the region,
high burden of cardiovascular diseases in the
region, and rising healthcare expenditure.
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Diagnostic ECG Market- Global Forecasts to 2028
Major players operating in the Diagnostic
Electrocardiogram (ECG) market include GE
HealthCare (US), Koninklijke Philips
N.V. (Netherlands), Nihon Kohden Corporation
(Japan), OSI Systems, Inc. (US), and Hill-Rom
Holdings, Inc. (Baxter International Inc.)
(US). These companies have strong distribution
networks across key regions, such as North
America, Europe, and Asia Pacific. They have an
established portfolio of reputable products and
services, a robust market presence, and strong
business strategies. Furthermore, these companies
have a significant market share in maximum
countries along with multi-purpose products and a
larger product footprint.

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