ECG MONITORING SYSTEMS MARKET ANALYSIS (2020-2027)

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ECG MONITORING SYSTEMS MARKET ANALYSIS (2020-2027)

• ECG Monitoring Systems Market, By Equipment Type
  (ECG Monitoring Equipment, Holter Monitoring
  Systems, ECG Stress Testing Systems, Event
  Monitoring Systems), By End User (Hospitals,
  Ambulatory Surgical Centers, Clinics), and By
  Region (North America, Latin America, Europe,
  Asia Pacific, Middle East Africa) - Size,
  Share, Outlook, and Opportunity Analysis, 2020 -
  2027

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• An electrocardiogram (ECG or EKG) records the
  electrical signal from the heart to check for
  different heart conditions. It is the most
  important test for interpretation of the cardiac
  rhythm, detection of myocardial ischemia and
  infarction, conduction system abnormalities,
  preexcitation, long QT syndromes, atrial
  abnormalities, ventricular hypertrophy,
  pericarditis, and other conditions.
• The global ECG monitoring systems market is
  estimated to account for US 1,102.5 Mn in terms
  of value in 2020 and is expected to reach US
  1,847.2 Mn by the end of 2027.

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Global ECG Monitoring Systems Market Drivers

• Increasing prevalence of cardiovascular diseases
  is expected to propel growth of the
  global cardiovascular monitoring and diagnostic
  devices market over the forecast period. For
  instance, according to the American Heart
  Association's Heart and Stroke Statistics 2019
  Update, around 48 of all adults in the U.S.
  suffered from some type of cardiovascular disease
  in 2016.   

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• Moreover, increasing geriatric population is also
  expected to aid in growth of the market. For
  instance, according to the U.S. Census Bureau,
  the U.S. geriatric population is expected to
  reach 77 million by 2034.     
• ECG Monitoring Equipment held dominant position
  in the global ECG monitoring systems market in
  2019, accounting for 56.5 share in terms of
  value, followed by Holter Monitoring Systems and
  ECG Stress Testing Systems, respectively.

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Figure 1. Global ECG Monitoring Systems Market
Share (), by Value, by Equipment Type, 2019
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Global ECG Monitoring Systems Market Restraints

• Inaccuracy of wearable ECG devices is expected to
  hinder growth of the market. For instance,
  according to a research published in April 2019
  by the Harvard Medical School, 30 of wearable
  devices yield inaccurate results.
• Moreover, handheld ECG devices offer limited
  information compared to conventional lead ECGs,
  which is also expected to limit growth of the
  market.

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Global ECG Monitoring Systems Market
Opportunities 

• RD in ambulatory ECGs is expected to offer
  lucrative growth opportunities for players in the
  global ECG monitoring systems market. For
  instance, in February 2020, researchers at
  University of Electronic Science and Technology
  of China developed an adaptive cancellation
  algorithm based on multi-inertial sensors to
  suppress motion artifacts in ambulatory ECGs.

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• Moreover, increasing investment in development of
  new devices is also expected to aid in growth of
  the market. For instance, in December 2019,
  Biotricity Inc., a medical diagnostic and
  consumer healthcare technology company, raised
  US 6 million for FDA Filing for its patch
  solution within the first 6 months of 2020, which
  will be a novel product in the field of Holter
  monitoring.
• The global ECG monitoring systems market was
  valued at US 1,024.4 Mn in 2019 and is forecast
  to reach a value of US 1,847.2 Mn by 2027 at
  a CAGR of 7.7 between 2020 and 2027.

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• Figure 2. Global ECG Monitoring Systems Market
  Value (US Mn), and Y-o-Y Growth (), 2019-2027

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Market Trends/Key Takeaways

• The market is witnessing development of web-based
  remote cardiac monitoring solutions. For
  instance, in November 2019, Bittium Corporation,
  a Finland-based cardiology and neurology device
  company, presented Bittium HolterPlus, a
  web-based remote cardiac monitoring solution,
  consisting of a Bittium Faros ECG device and
  Bittium HolterPlus mobile application, at Medica
  2019, a leading international trade fair for the
  medical sector that was held in Germany.
• RD in ECG-enabled smartwatch is aiding in growth
  of the market. For instance, in February 2020,
  Johnson Johnson launched a new, virtual
  clinical study to determine the efficacy of
  Apples iPhone and ECG-enabled smartwatch in
  reducing the risk of stroke and detecting cases
  of atrial fibrillation.

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Global ECG Monitoring Systems Market Competitive
Landscape

• Major players operating in the global ECG
  monitoring systems market include, GE Healthcare,
  Philips Healthcare, Nihon Kohden, Schiller AG,
  Opto Circuits (India) Limited, Opto Circuits
  (India) Limited, Welch Allyn, Fukuda Denshi Co.,
  Ltd., OSI Systems, Lidco Group plc, Biotricity
  Inc., Bittium Corporation, St. Jude Medical Inc.,
  VivaQuant, and Johnson Johnson.

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Global ECG Monitoring Systems Market Key
Developments

• Major players in the market are focused on
  approval and launch of new devices to expand
  their product portfolio. For instance, in July
  2020, AliveCor released KardiaCare, a digital
  subscription service that offers a suite of
  features that helps users interpret their heart
  data, monitor risk factors, identify symptom
  triggers and measure the impact of lifestyle
  changes.
• Similarly, in January 2020, VivaLNK, a
  China-based provider of connected healthcare
  solutions for in-patient and remote patient
  monitoring, received the U.S. FDA clearance for
  its Continuous ECG platform comprising of
  reusable wearable ECG sensors and associated
  software development kit

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