The ECG devices market is witnessing growth owing to a sharp rise in the incidence of CVDs globally, an increase in the geriatric population, technological advances in these devices, and stringent government regulations on monitoring devices. These devices capture information regarding the functioning of the heart.
As per the World Health Organization (WHO), the major cause of death globally is CVDs, which result in approximately 17.9 million deaths per year. This drives the demand for ECG and the number of tests conducted on individuals susceptible to CVDs.
North America is expected to hold one of the largest shares in the ECG devices market over the coming years. This may be attributed to the increasing incidence of CVDs, a strong healthcare infrastructure, and higher disposable income effectively pushing the purchasing power of consumers. In addition, the demand for this equipment in APAC will rapidly grow owing to the rising healthcare expenditure and reforms for an enhanced infrastructure.
As per the WHO, LMICs, a lot of which are located in APAC, account for three-fourths of all the CVD deaths on this planet.
Based on end use, hospitals, clinics, and cardiac centers will account for a significant revenue contribution to the ECG devices market in the future. This can be attributed to the growing global burden of CVDs. Consequently, there is a dire need for quality cardiac care and to meet the requirements for Holter and event monitors across developing and developed markets.
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Overall, there is a domino effect on the skyrocketing demand for these devices. as they are imperative in emergency rooms, OPDs, operating rooms, ICUs, and patient wards.
Nonetheless, the 12-lead ECG category will grow owing to the increasing utilization of these variants to ascertain the electrical impulses coming into the four chambers and the four valves.
Thus, a sharp rise in the incidence of CVDs globally and gradual technological advancements will together improve the revenue generated in this market.
