Diagnostic ECG Industry Insights and Recent Developments
The growth in the diagnostic electrocardiograph market can primarily be attributed to factors such as the increasing incidence of cardiovascular diseases and technological advancements in devices.
According to the new market research report Diagnostic ECG Market is expected to reach USD 10.3 billion by 2024 from USD 7.5 billion in 2019, at a CAGR of 6.4% during the forecast period.
Based on the product, the diagnostic ECG market is segmented into resting ECG devices, stress ECG devices, implantable loop recorders (ILRs), event monitors, MCT devices, and smart wearable ECG monitors. The ILRs segment is projected to grow at the highest CAGR during the forecast period. Factors such as quick and enhanced diagnosis as compared to other short & longer-term monitoring modalities and the huge potential for reducing healthcare costs are driving the growth of the market.
The major players in the diagnostic ECG market include Koninklijke Philips (Netherlands), GE Healthcare (US), Nihon Kohden (Japan), Asahi Kasei (Japan), and Hill-Rom Holdings (US).
Recent Developments:
> In March 2018, Biotelemetry acquired Geneva Healthcare to strengthen its position in the remote cardiac monitoring devices market.
> In May 2018, GE Healthcare collaborated with Preventice Solutions (US) to extended GE’s ECG services into home settings, providing monitoring for ambulatory ECG patients.
> In March 2018, Philips Healthcare launched IntelliSpace Cardiovascular 3.1 under its cardiovascular product segment.
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