Industries - Diagnostic Electrocardiograph (ECG) Market Analysis by Product & Services (Stress ECG, Resting ECG, Smart ECG Monitors), Lead Type (Single-Lead, 12-Lead, 6-Lead, 5-Lead, 3-Lead), End User, and by Region – Forecast to 2026

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Diagnostic Electrocardiograph (ECG) Market Analysis by Product & Services (Stress ECG, Resting ECG, Smart ECG Monitors), Lead Type (Single-Lead, 12-Lead, 6-Lead, 5-Lead, 3-Lead), End User, and by Region – Forecast to 2026
May 2021

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Diagnostic Electrocardiograph (ECG) Market Analysis by Product & Services (Stress ECG, Resting ECG, Smart ECG Monitors), Lead Type (Single-Lead, 12-Lead, 6-Lead, 5-Lead, 3-Lead), End User, and by Region - Forecast to 2026

Published: May 2021 | Historical Data: 2018-2020 | Base Year: 2020
SKU: ICI-HC-1120 | Number of Pages: 137 | Category: Medical Devices

The global diagnostic electrocardiograph (ECG) market size was valued at USD 9,237.3 million in 2020 and is expected to witness a CAGR of 7.2% during the forecast period. Rising lifestyle diseases and cardiovascular diseases such as stroke, hypertensive heart disease, ischemic heart disease (IHD), and peripheral artery illness is a key driver for the growth of the global diagnostic ECG market. Additionally, technological advancements, government funding, growing geriatric population, cross-infection cases during the COVID-19 pandemic, and rising demand for wearable and wireless devices are some of the other drivers propelling the market growth. However, lack of skilled personnel and intensifying competition among market players are expected to restrain the global market growth.

Diagnostic Electrocardiograph (ECG) Market Analysis

By Product & Services

Based on product & services, the market is segmented into stress ECG devices, resting ECG devices, smart ECG monitors, implantable loop recorders, event monitors, mobile cardiac telemetry devices, holter monitors, and software & services. In 2020, the resting ECG devices segment accounted for the largest revenue share and is expected to witness a lucrative CAGR during the forecast period. This is attributed to the wide adoption of these instruments and its convenient use worldwide. Implantable loop recorders segment projected to grow at the fastest CAGR during the forecast period. This is attributed to improved diagnosis and cost-efficiency as compared to other short-term & longer-term monitoring devices.

By Lead Type

Based on lead type, the market is segmented into single-lead ECG devices, 12-lead ECG devices, 6-lead ECG devices, 5-lead ECG devices, 3-lead ECG devices, and others. In 2020, the single-lead ECG devices segment accounted for the significant revenue share. However, the 3-lead ECG devices segment is projected to grow at the highest CAGR during the forecast period. This is attributed to application of these devices with telemetry monitoring, alternate cardiac investigations, and in surgical procedures such as emergencies and management of heart diseases.

By End User

Based on end user, the market is segmented into hospitals & clinics, ambulatory surgical centers, and others. In 2020, the hospitals & clinics segment accounted for the maximum revenue share and is expected to show a lucrative CAGR during the forecast period. This is attributed to the large number of hospitalizations with heart-linked diseases, comprehensive service offering under one roof, and supportive medical reimbursement scenario. Ambulatory surgical centers segment is projected to grow at a significant CAGR during the forecast period. This is attributed to rising demand for short term stay treatment at affordable cost coupled with smaller wait-time.

Regional Insights

In 2020, North America accounted for the highest revenue share in the global market and is expected to maintain its dominance during the forecast period. This is attributed to the huge patient pool with cardiac & other chronic disorders, presence of leading medical devices companies, advanced healthcare infrastructure, and high investments in R&D in this region. Asia Pacific market is projected to exhibit the fastest CAGR over the forecast period owing to the rising chronic illness, escalating demand for advanced medication and treatment, increasing medical expenditure, and growing focus of medical device companies in this region.

North America Diagnostic ECG Market Size (2018-2026), USD Million

North America Diagnostic ECG Market

Competitor Insights

Some of the key players in the diagnostic ECG market are Koninklijke Philips N.V., Schiller AG, GE Healthcare, Nihon Kohden Corporation, Mindray Medical, Mortara Instrument Inc., Schiller AG, Hill-Rom Holdings, Inc., Spacelabs Healthcare, Cardionet, and Compumed Inc. The leading players operating in the diagnostic ECG industry are adopting various strategies including novel product launches, mergers & acquisitions, and regional expansions to capture a maximum revenue share.

 

This exhaustive research report focuses on market size and forecast at global, segmental, regional and country level along with key market trends and dynamics from 2018 to 2026. The diagnostic ECG market report is categorized into the following segments and subsegments:

Diagnostic ECG Market, By Product & Services (Revenue, USD Million, 2018 – 2026)

  • Stress ECG Devices
  • Resting ECG Devices
  • Smart ECG Monitors
  • Implantable Loop Recorders
  • Event Monitors
  • Mobile Cardiac Telemetry Devices
  • Holter Monitors
  • Software & Services

Diagnostic ECG Market, By Lead Type (Revenue, USD Million, 2018 – 2026)

  • Single-Lead ECG Devices
  • 12-Lead ECG Devices
  • 6-Lead ECG Devices
  • 5-Lead ECG Devices
  • 3-Lead ECG Devices
  • Others

Diagnostic ECG Market, By End User (Revenue, USD Million, 2018 – 2026)

  • Hospitals & Clinics
  • Ambulatory Surgical Centers
  • Others

Diagnostic ECG Market, By Region (Revenue, USD Million, 2018 – 2026)

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • France
    • UK
    • Spain
    • Italy
    • Russia
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • Australia
    • South Korea
    • Rest of APAC
  • Latin America
    • Brazil
    • Mexico
    • Argentina
    • Rest of LATAM
  • Middle East & Africa
    • South Africa
    • Saudi Arabia
    • Rest of MEA

Scope of Diagnostic ECG Market Report:

Key Parameters Details
Data Availability 2018-2026
Historical Years 2018-2020
Base Year Considered 2020
Forecast Period 2020-2026
Company Profiles 10
Companies Considered >60
Value Units Value in USD and CAGR in %
Market Segments Product & Services, Lead Type, and End User
Regional Coverage North America (U.S. and Canada), Europe (Germany, France, UK, Spain, Italy, Russia, Rest of Europe), Asia Pacific (China, Japan, India, Australia, South Korea, Rest of Asia Pacific), Latin America (Brazil, Mexico, Argentina, Rest of LATAM), and the Middle East & Africa (South Africa, Saudi Arabia, Rest of MEA)
Key Market Players Koninklijke Philips N.V., Schiller AG, GE Healthcare, Nihon Kohden Corporation, Mindray Medical, Mortara Instrument Inc., Schiller AG, Hill-Rom Holdings, Inc., Spacelabs Healthcare, Cardionet, and Compumed Inc.
Custom Analysis Customization up to 60 analyst hours

Diagnostic ECG Market, By Product & Services (Revenue, USD Million, 2018 – 2026)

  • Stress ECG Devices
  • Resting ECG Devices
  • Smart ECG Monitors
  • Implantable Loop Recorders
  • Event Monitors
  • Mobile Cardiac Telemetry Devices
  • Holter Monitors
  • Software & Services

Diagnostic ECG Market, By Lead Type (Revenue, USD Million, 2018 – 2026)

  • Single-Lead ECG Devices
  • 12-Lead ECG Devices
  • 6-Lead ECG Devices
  • 5-Lead ECG Devices
  • 3-Lead ECG Devices
  • Others

Diagnostic ECG Market, By End User (Revenue, USD Million, 2018 – 2026)

  • Hospitals & Clinics
  • Ambulatory Surgical Centers
  • Others

Diagnostic ECG Market, By Region (Revenue, USD Million, 2018 – 2026)

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • France
    • UK
    • Spain
    • Italy
    • Russia
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • Australia
    • South Korea
    • Rest of APAC
  • Latin America
    • Brazil
    • Mexico
    • Argentina
    • Rest of LATAM
  • Middle East & Africa
    • South Africa
    • Saudi Arabia
    • Rest of MEA
1. Research Methodology
 1.1. Research Objective
 1.2. Study Scope: Market Segments
 1.3. Study Timeframe, Limitations & Currency
 1.4. Domain-Assisted Cognition (DAC) Framework
  1.4.1. Three-stage Research Methodology
   1.4.1.1. Understand Ecosystem
    1.4.1.1.1. Secondary Research
    1.4.1.1.2. Primary Research
    1.4.1.1.3. Internal Repository
   1.4.1.2. Synthesize Information
    1.4.1.2.1. Data Analysis
    1.4.1.2.2. Data Triangulation
   1.4.1.3. Predict/Project Growth
    1.4.1.3.1. Market Size Estimation
     1.4.1.3.1.1. Bottom-up Approach
     1.4.1.3.1.2. Top-down Approach
    1.4.1.3.2. Data Validation
  1.4.2. Two-stage Quality Check Mechanism
   1.4.2.1. Inspection & Reporting
   1.4.2.2. Quality Audit
2. Market Summary
 2.1. Market Definition & Market Landscape
 2.2. Market Segment Snapshot
 2.3. Geographic Market Snapshot
3. Market Dynamics
 3.1. Market Driver Analysis
  3.1.1. Increasing number of cardiovascular and lifestyle diseases
  3.1.2. Growing old-age population
  3.1.3. Advancement in wireless monitoring technology and introduction of wearable devices
  3.1.4. Government funding for R&D
 3.2. Market Restraint Analysis
  3.2.1. High cost of lack of skilled personnel
  3.2.2. Intensifying competition among market players
 3.3. Market Opportunities
  3.3.1. Mapping untapped application of ECG in unexplored diagnostic areas
  3.3.2. Market penetration by leading players in unexplored market
4. Industry Outlook
 4.1. Key Market Trends
 4.2. Value Chain Analysis
 4.3. Porter’s 5 Forces Analysis
 4.4. Pricing Analysis (2018-2020)
 4.5. Product Benchmarking
5. Covid-19 Impact and Deviation Analysis
 5.1. Covid-19 Prevalence Analysis
 5.2. Key Market Trends
 5.3. Market Size Deviation Analysis (2020-2026)
6. Diagnostic ECG Market Size and Forecast, by Product and Service (2018-2026), USD Million
 6.1. Stress ECG Devices
 6.2. Resting ECG Devices
 6.3. Smart ECG Monitors
 6.4. Implantable Loop Recorders
 6.5. Event Monitors
 6.6. Mobile Cardiac Telemetry Devices
 6.7. Holter Monitors
 6.8. Software & Services
7. Diagnostic ECG Market Size and Forecast, by Lead Type (2018-2026), USD Million
 7.1. Single-Lead ECG Devices
 7.2. 12-Lead ECG Devices
 7.3. 6-Lead ECG Devices
 7.4. 5-Lead ECG Devices
 7.5. 3-Lead ECG Devices
 7.6. Others
8. Diagnostic ECG Market Size and Forecast, by End User (2018-2026), USD Million
 8.1. Hospitals & Clinics
 8.2. Ambulatory Surgical Centers
 8.3. Others
9. Diagnostic ECG Market, Regional Analysis (2018-2026), USD Million
 9.1. North America
  9.1.1. Introduction
   9.1.1.1. Market Size & Forecast, by Product & Services (2018-2026), USD Million
   9.1.1.2. Market Size & Forecast, by Lead Type (2018-2026), USD Million
   9.1.1.3. Market Size & Forecast, by End User (2018-2026), USD Million
   9.1.1.4. Market Size & Forecast, by Country (2018-2026), USD Million
  9.1.2. U.S.
   9.1.2.1. Market Size & Forecast, by Product & Services (2018-2026), USD Million
   9.1.2.2. Market Size & Forecast, by Lead Type (2018-2026), USD Million
   9.1.2.3. Market Size & Forecast, by End User (2018-2026), USD Million
  9.1.3. Canada
   9.1.3.1. Market Size & Forecast, by Product & Services (2018-2026), USD Million
   9.1.3.2. Market Size & Forecast, by Lead Type (2018-2026), USD Million
   9.1.3.3. Market Size & Forecast, by End User (2018-2026), USD Million
 9.2. Europe
  9.2.1. Introduction
   9.2.1.1. Market Size & Forecast, by Product & Services (2018-2026), USD Million
   9.2.1.2. Market Size & Forecast, by Lead Type (2018-2026), USD Million
   9.2.1.3. Market Size & Forecast, by End User (2018-2026), USD Million
   9.2.1.4. Market Size & Forecast, by Country (2018-2026), USD Million
  9.2.2. Germany
   9.2.2.1. Market Size & Forecast, by Product & Services (2018-2026), USD Million
   9.2.2.2. Market Size & Forecast, by Lead Type (2018-2026), USD Million
   9.2.2.3. Market Size & Forecast, by End User (2018-2026), USD Million
  9.2.3. UK
   9.2.3.1. Market Size & Forecast, by Product & Services (2018-2026), USD Million
   9.2.3.2. Market Size & Forecast, by Lead Type (2018-2026), USD Million
   9.2.3.3. Market Size & Forecast, by End User (2018-2026), USD Million
  9.2.4. France
   9.2.4.1. Market Size & Forecast, by Product & Services (2018-2026), USD Million
   9.2.4.2. Market Size & Forecast, by Lead Type (2018-2026), USD Million
   9.2.4.3. Market Size & Forecast, by End User (2018-2026), USD Million
  9.2.5. Spain
   9.2.5.1. Market Size & Forecast, by Product & Services (2018-2026), USD Million
   9.2.5.2. Market Size & Forecast, by Lead Type (2018-2026), USD Million
   9.2.5.3. Market Size & Forecast, by End User (2018-2026), USD Million
  9.2.6. Italy
   9.2.6.1. Market Size & Forecast, by Product & Services (2018-2026), USD Million
   9.2.6.2. Market Size & Forecast, by Lead Type (2018-2026), USD Million
   9.2.6.3. Market Size & Forecast, by End User (2018-2026), USD Million
  9.2.7. Russia
   9.2.7.1. Market Size & Forecast, by Product & Services (2018-2026), USD Million
   9.2.7.2. Market Size & Forecast, by Lead Type (2018-2026), USD Million
   9.2.7.3. Market Size & Forecast, by End User (2018-2026), USD Million
  9.2.8. Rest of Europe
   9.2.8.1. Market Size & Forecast, by Product & Services (2018-2026), USD Million
   9.2.8.2. Market Size & Forecast, by Lead Type (2018-2026), USD Million
   9.2.8.3. Market Size & Forecast, by End User (2018-2026), USD Million
 9.3. Asia Pacific (APAC)
  9.3.1. Introduction
   9.3.1.1. Market Size & Forecast, by Product & Services (2018-2026), USD Million
   9.3.1.2. Market Size & Forecast, by Lead Type (2018-2026), USD Million
   9.3.1.3. Market Size & Forecast, by End User (2018-2026), USD Million
   9.3.1.4. Market Size & Forecast, by Country (2018-2026), USD Million
  9.3.2. China
   9.3.2.1. Market Size & Forecast, by Product & Services (2018-2026), USD Million
   9.3.2.2. Market Size & Forecast, by Lead Type (2018-2026), USD Million
   9.3.2.3. Market Size & Forecast, by End User (2018-2026), USD Million
  9.3.3. Japan
   9.3.3.1. Market Size & Forecast, by Product & Services (2018-2026), USD Million
   9.3.3.2. Market Size & Forecast, by Lead Type (2018-2026), USD Million
   9.3.3.3. Market Size & Forecast, by End User (2018-2026), USD Million
  9.3.4. India
   9.3.4.1. Market Size & Forecast, by Product & Services (2018-2026), USD Million
   9.3.4.2. Market Size & Forecast, by Lead Type (2018-2026), USD Million
   9.3.4.3. Market Size & Forecast, by End User (2018-2026), USD Million
  9.3.5. Australia
   9.3.5.1. Market Size & Forecast, by Product & Services (2018-2026), USD Million
   9.3.5.2. Market Size & Forecast, by Lead Type (2018-2026), USD Million
   9.3.5.3. Market Size & Forecast, by End User (2018-2026), USD Million
  9.3.6. South Korea
   9.3.6.1. Market Size & Forecast, by Product & Services (2018-2026), USD Million
   9.3.6.2. Market Size & Forecast, by Lead Type (2018-2026), USD Million
   9.3.6.3. Market Size & Forecast, by End User (2018-2026), USD Million
  9.3.7. Rest of Asia Pacific
   9.3.7.1. Market Size & Forecast, by Product & Services (2018-2026), USD Million
   9.3.7.2. Market Size & Forecast, by Lead Type (2018-2026), USD Million
   9.3.7.3. Market Size & Forecast, by End User (2018-2026), USD Million
 9.4. Latin America (LATAM)
  9.4.1. Introduction
   9.4.1.1. Market Size & Forecast, by Product & Services (2018-2026), USD Million
   9.4.1.2. Market Size & Forecast, by Lead Type (2018-2026), USD Million
   9.4.1.3. Market Size & Forecast, by End User (2018-2026), USD Million
   9.4.1.4. Market Size & Forecast, by Country (2018-2026), USD Million
  9.4.2. Brazil
   9.4.2.1. Market Size & Forecast, by Product & Services (2018-2026), USD Million
   9.4.2.2. Market Size & Forecast, by Lead Type (2018-2026), USD Million
   9.4.2.3. Market Size & Forecast, by End User (2018-2026), USD Million
  9.4.3. Mexico
   9.4.3.1. Market Size & Forecast, by Product & Services (2018-2026), USD Million
   9.4.3.2. Market Size & Forecast, by Lead Type (2018-2026), USD Million
   9.4.3.3. Market Size & Forecast, by End User (2018-2026), USD Million
  9.4.4. Argentina
   9.4.4.1. Market Size & Forecast, by Product & Services (2018-2026), USD Million
   9.4.4.2. Market Size & Forecast, by Lead Type (2018-2026), USD Million
   9.4.4.3. Market Size & Forecast, by End User (2018-2026), USD Million
  9.4.5. Rest of LATAM
   9.4.5.1. Market Size & Forecast, by Product & Services (2018-2026), USD Million
   9.4.5.2. Market Size & Forecast, by Lead Type (2018-2026), USD Million
   9.4.5.3. Market Size & Forecast, by End User (2018-2026), USD Million
 9.5. Middle East & Africa (MEA)
  9.5.1. Introduction
   9.5.1.1. Market Size & Forecast, by Product & Services (2018-2026), USD Million
   9.5.1.2. Market Size & Forecast, by Lead Type (2018-2026), USD Million
   9.5.1.3. Market Size & Forecast, by End User (2018-2026), USD Million
   9.5.1.4. Market Size & Forecast, by Country (2018-2026), USD Million
  9.5.2. South Africa
   9.5.2.1. Market Size & Forecast, by Product & Services (2018-2026), USD Million
   9.5.2.2. Market Size & Forecast, by Lead Type (2018-2026), USD Million
   9.5.2.3. Market Size & Forecast, by End User (2018-2026), USD Million
  9.5.3. Saudi Arabia
   9.5.3.1. Market Size & Forecast, by Product & Services (2018-2026), USD Million
   9.5.3.2. Market Size & Forecast, by Lead Type (2018-2026), USD Million
   9.5.3.3. Market Size & Forecast, by End User (2018-2026), USD Million
  9.5.4. Rest of MEA
   9.5.4.1. Market Size & Forecast, by Product & Services (2018-2026), USD Million
   9.5.4.2. Market Size & Forecast, by Lead Type (2018-2026), USD Million
   9.5.4.3. Market Size & Forecast, by End User (2018-2026), USD Million
10. Competitor Analysis
 10.1. Market Player Comparison
 10.2. Product-wise Player Mapping
 10.3. Region-wise Player Mapping
 10.4. Market Share Analysis
 10.5. Market Position Analysis
 10.6. Recent Development Analysis
11. Company Profiles
 11.1. GE Healthcare
  11.1.1. Company Overview
  11.1.2. Company Financials
  11.1.3. Product Portfolio
  11.1.4. Recent Developments
 11.2. Koninklijke Philips N.V.
  11.2.1. Company Overview
  11.2.2. Company Financials
  11.2.3. Product Portfolio
  11.2.4. Recent Developments
 11.3. Mindray Medical
  11.3.1. Company Overview
  11.3.2. Company Financials
  11.3.3. Product Portfolio
  11.3.4. Recent Developments
 11.4. Mortara Instrument Inc.
  11.4.1. Company Overview
  11.4.2. Company Financials
  11.4.3. Product Portfolio
  11.4.4. Recent Developments
 11.5. Spacelabs Healthcare
  11.5.1. Company Overview
  11.5.2. Company Financials
  11.5.3. Product Portfolio
  11.5.4. Recent Developments
 11.6. Schiller AG
  11.6.1. Company Overview
  11.6.2. Company Financials
  11.6.3. Product Portfolio
  11.6.4. Recent Developments
 11.7. Cardionet
  11.7.1. Company Overview
  11.7.2. Company Financials
  11.7.3. Product Portfolio
  11.7.4. Recent Developments
 11.8. Compumed Inc.
  11.8.1. Company Overview
  11.8.2. Company Financials
  11.8.3. Product Portfolio
  11.8.4. Recent Developments
 11.9. Nihon Kohden Corporation
  11.9.1. Company Overview
  11.9.2. Company Financials
  11.9.3. Product Portfolio
  11.9.4. Recent Developments
 11.10. Hill-Rom Holdings, Inc.
  11.10.1. Company Overview
  11.10.2. Company Financials
  11.10.3. Product Portfolio
  11.10.4. Recent Developments
(Note: Financials are captured for public listed companies)

Key questions addressed by the research report-

  1. What are the current market trends and future market forecast from 2020 to 2026 for diagnostic ECG market?
  2. What are the market dynamics and probable opportunities for market players during the forecast period?
  3. Initiatives undertaken by market players to address the COVID-19 impact to sustain in the competitive market
  4. Which geographies have immense opportunities in different segments of the diagnostic ECG market?
  5. What are the recent strategies adopted by market players such as product launch, partnership, agreement, collaboration, merger & acquisition, and geographical expansion?


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