Global 12 Channel Electrocardiogram (ECG) Market, By Product (Resting ECG, Stress, Mobile Cardiac Telemetry Device, Implantable Loop Recorder), By Type (Precordial, Unipolar, and Bipolar), By Application (Home Use, Hospital) – Industry Trends and Forecast to 2029.
12 Channel Electrocardiogram (ECG) Market Analysis and Size
The global 12 channel electrocardiogram (ECG) market is expected to witness significant growth during the forecast period. The global 12 channel ECG market growth is driven by the rise in ECG tests for patients susceptible to heart diseases. Technological advancements in ECG devices such as portable and handheld are the other factors that are driving the market growth. COVID-19 also had a major impact on the market growth.
Data Bridge Market Research analyses a growth rate in the global 12 channel electrocardiogram (ECG) market in the forecast period 2022-2029. The expected CAGR of global 12 channel ECG market is tend to be around 11.20% in the mentioned forecast period. The market was valued at USD 9.27 billion in 2021, and it would grow upto USD 21.67 billion by 2029. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team also includes in-depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.
Market Definition
Electrocardiogram monitoring devices such as stress ECG , resting ECG, and Holter monitors aid to identify and provide information about the dysfunctioning of the heart. It determine the patient’s response to drug therapy, identify the changes in heart function and diagnose and assist in treating heart disease. Each lead represents a different aspect of the heart’s electrical activity by producing ECG waveforms. They record small voltages of about one millivolt between electrodes and these small variations directly correspond to the heart’s electrical activity.
Report Scope and Market Segmentation
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Report Metric
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Details
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Forecast Period
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2022 to 2029
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Base Year
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2021
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Historic Years
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2020 (Customizable to 2014 - 2019)
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Quantitative Units
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Revenue in USD Million, Volumes in Units, Pricing in USD
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Segments Covered
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By Product (Resting ECG, Stress, Mobile Cardiac Telemetry Device, Implantable Loop Recorder), By Type (Precordial, Unipolar, and Bipolar), By Application (Home Use, Hospital)
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Countries Covered
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U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America
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Market Players Covered
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General Electric (U.S.), Koninklijke Philips N.V. (Netherlands), NIHON KOHDEN CORPORATION. (Japan), Hill-Rom Services, Inc. (U.S.), Ambu A/S. (Denmark), SCHILLER (India), ACSDiagnostics. (U.S.), FUKUDA DENSHI (Japan), BioTelemetry, Inc. (U.S.), OSI Systems, Inc. (U.S.), BTL. (U.S.), Allengers (India), Shenzhen Mindray Bio-Medical Electronics Co., Ltd. (China), EDAN Instruments, Inc. (China), Cardioline S.P.A. (Italy), SUZUKEN CO., LTD. (Japan), Norav Medical (U.S.), Nexus Lifecare (India), Midmark Corporation (U.S.), Spacelabs Healthcare (U.S.), Innomed Medical Inc. (Hungary)
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Market Opportunities
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Global 12 Channel Electrocardiogram (ECG) Market Dynamics
Drivers
- Associated Beneficial Factors
The product types associated with it are gaining much popularity for the market. One of its segments, implantable loop recorders (ILRs), is very interesting. Factors such as quick and advanced diagnosis than other long & short-term monitoring modalities and the huge potential for reducing healthcare costs are boosting the market's growth.
- Increasing Cardiovascular Diseases
Increase in prevalence of heart diseases globally is the primary factor driving the 12 channel electrocardiogram (ECG) market globally. According to WHO, cardiovascular disease is one of the leading cause of death worldwide with approximately 17.9 million of death every year. In addition, rise in demand for the invasive techniques and lifestyle changes boosting the market growth.
Opportunities
- Technological Advancements
Rise in R&D activities of advanced technology for 12 channel electrocardiograph device is driving the market growth. New product launches and innovation in designing electrocardiograph contribute to market growth. For instance, AliveCor, a U.S.-based company, launched KardiaMobile 6L in the year 2020. It is a personal ECG device in India. In addition, the introduction of remote monitoring devices with single lead and portable ECG systems is set to drive the market's growth.
- Increasing Number of Patient Visits
In 2019, the hospitals, clinics, & cardiac care centers segment accounted for the largest share of the market. They can be attributed to the growing burden of cardiovascular diseases, which, in turn, is increasing the need for quality cardiology care and surging the number of patient visits to clinics and hospitals for the diagnosis of CVD, and the availability of reimbursements for Holter & event monitors across developed markets.
Restraints/Challenges
- Lack of skilled professionals
The lack of qualified personnel who are unable to use these devices could curb the growth of the global 12 channel electrocardiogram (ECG) market over a forecast period.
- High Cost
High cost of these software systems can hinder the growth of the global 12 channel ECG market even though the prevalence of thrombotic diseases are high.
This 12 channel electrocardiogram (ECG) market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the 12 channel electrocardiogram (ECG) market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Recent Developments
In April 2021: One of the top ECG exporters in China called as EDAN Instruments, Inc., held its global launch event of the new generation 12-channel electrocardiograph SE-1202. The high sampling frequency of SE-1202 can grab and reflect the signal on the wave forms.
12 Channel Electrocardiogram (ECG) Market Scope
The 12 channel electrocardiogram (ECG) market is segmented on the basis of product, type and application. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Product
- Resting ECG
- Stress
- Mobile Cardiac Telemetry Device
- Implantable Loop Recorder
Type
- Precordial
- Unipolar
- Bipolar
Application
- Home Use
- Hospital
12 channel ECG Market Regional Analysis/Insights
The 12 channel electrocardiogram (ECG) market is analysed and market size insights and trends are provided by product, type and application as referenced above.
The major countries covered in the 12 channel electrocardiogram (ECG) market are the U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America is the dominating region in the 12 channel electrocardiogram (ECG) market due to increasing prevalence of cardiovascular diseases and technological advancements.
Meanwhile, the Asia-Pacific region has shown significant growth in the 12 channel electrocardiogram (ECG) market due to growing incidence of chronic diseases and less stringent regulations.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and 12 Channel Electrocardiogram (ECG) Market Share Analysis
The 12 channel electrocardiogram (ECG) market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to 12 channel electrocardiogram (ECG) market.
Key players operating in the 12 channel electrocardiogram (ECG) market include:
- General Electric Company (U.S.)
- Koninklijke Philips N.V. (Netherlands)
- NIHON KOHDEN CORPORATION. (Japan)
- Hill-Rom Services, Inc. (U.S.)
- Ambu A/S. (Denmark)
- SCHILLER (India)
- ACSDiagnostics. (U.S.)
- FUKUDA DENSHI (Japan)
- BioTelemetry, Inc. (U.S.)
- OSI Systems, Inc. (U.S.)
- BTL. (U.S.)
- Allengers (India)
- Shenzhen Mindray Bio-Medical Electronics Co., Ltd. (China)
- EDAN Instruments, Inc. (China)
- Cardioline S.P.A. (Italy)
- SUZUKEN CO., LTD. (Japan)
- Norav Medical (U.S.)
- Nexus Lifecare (India)
- Midmark Corporation (U.S.)
- Spacelabs Healthcare (U.S.)
- Innomed Medical Inc. (Hungary)
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