ECG (Electrocardiogram) Device is a device which records the heart activities through electric signals and are amplified on the ECG monitor. ECG devices are used to diagnose types of heart diseases and arrhythmias in a person’s body therefore assist the appropriate therapy. The ECG test is noninvasive and painless procedure and determines abnormality patterns in heart. There are four different types of ECG device which determine heart activities of body under certain condition or activities.
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Chronic diseases have become a major cause of diseases globally which is causing a lot of pressure on healthcare industry to adopt new paradigm of medical care and better healthcare facilities boosting the demand for new technologies. Cardiovascular disease is one of the most common of all health problems and leading cause of deaths globally. To avoid the risk associated with heart disease, ECG tests are conducted by people who are likely exposed to the factors causing heart disease. Due to increased awareness about CVD, patient monitoring devices are gaining importance over years due to ease of operation and quick results. Development in ECG devices and increase in global disease burden will drive the market growth for ECG devices over the forecast period. ECG device market has established market players along with OEMs and small players which are expanding their markets to cover larger market share into the emerging economies. Due to high competitiveness in the market players, ECG device market is fueled by bringing innovation.
By product type, ECG device market is segmented into ECG resting system, ECG holter monitoring system, ECG stress testing system and cardiopulmonary stress testing. ECG resting system segment is estimated to account for highest revenue share in 2015 and ECG holter monitoring system is expected to grow over the forecast period. ECG resting system is expected to witness sluggish growth over the forecast period due to technological advancements in ECG holter monitoring system.
On the basis of end user, the ECG device market is segmented into hospitals, diagnostic centers, clinics and ambulatory surgical centers. Hospitals segment is expected to create robust growth opportunities owing to better infrastructural facilities and large patient database.
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By region, the global ECG device market is segmented into North America, Latin America, Europe, Asia Pacific, and Middle East & Africa The high adoption rate of new technology is expected to boost the market in the U.S. for ECG holter monitoring devices. The U.S. is expected to remain dominant market for ECG devices whereas APAC region is expected to witness highest growth due to large number of population suffering from cardiovascular diseases and increase in budding manufacturers providing ECG device at competitive prices.