Precision Business Insights (PBI) in its report titled “Global Single Lead ECG Equipment Market: Market Estimation, Dynamics, Regional Share, Trends, Competitor Analysis 2013-2017 and Forecast 2018-2024” assesses the market performance over seven years forecast period over 2018-2024. The report analyses the market value forecast and provides the strategic insights into the market driving factors, challenges that are hindering the market revenue growth over forecast period.
The global single lead ECG equipment market was valued at US$ XX Mn in 2018 and increasing at a significant CAGR over the forecast timeframe owing to surge in the incidence of cardiac diseases over the world, scientific advancements, unhealthy food habits, unhealthy lifestyle, increase in disposable income of people, favorable government initiatives for remote monitoring equipment, trend of personalized health monitoring, emergence of smart phone and mobile-based single lead ECG monitors and increase in research towards portable ECG monitoring devices such as ECG in mobile phones and smart watches are expected to propel the growth of the market. However not having much awareness regarding the uses of single lead ECG equipment and unstable reimbursement policies for cardiology services are expected to limit the growth of the market.
Global single lead ECG equipment market segmented on the basis of product type, indication, end user, and region
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Real Time Single Lead ECG Equipment Dominates the Global Single Lead ECG Equipment Market
Based on type of single lead ECG equipment, global single lead ECG equipment market segmented into Real time single lead ECG equipment and Recording based Single lead ECG Equipment. Real time single lead ECG Equipment dominated the global single lead ECG equipment market in 2018 and estimated to dominate over the forecast period owing to the advantages of this type of equipment, increase in demand, and the advanced technology present in the equipment are surge the market over the forecast years. However, significant growth rate observed for the recording based single lead ECG equipment, due to the lower costs than real time equipment.
North America Leads the Global Single Lead ECG Equipment Market
PBI’s global single lead ECG equipment market report analyses the market in different regions such as North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. According to regional analysis, North America accounted for larger revenue share through 2013-2017 and expected to dominate over 2018-2024 owing to increasing number of research activities, developments in home care and ambulatory health care, advancements in technologies, increasing number of patients suffering from cardiac diseases and the presence of leading market players in the region are expected to drive the growth of the market. Asia Pacific region are expected to grow at a significant growth rate over the forecast years due to increasing prevalence of cardiac problems, increase in disposable income, increasing demand towards wearable devices, increasing healthcare awareness and presence of high target population.
Launch of newer products, frequent product approvals, and strategic alliances are the key strategies adopted by market players
Global single lead ECG equipment market further reveals that the key players increasingly adopting strategies such as launch of newer products, frequent product approvals, and long term alliance to improve market revenue share and gaining significant geographic presence across the region. For instance, in 2016, Medtronic plc, the global leader in medical technology, and HeartWare International, Inc., a leading innovator of less-invasive, miniaturized circulatory support technologies for the treatment of advanced heart failure, entered into an agreement under which Medtronic will acquire HeartWare in a transaction valued at approximately $1.1 billion. This acquisition will expand Medtronic’s portfolio of diagnostic tools, therapies and services for patients suffering from heart failure.
Key player’s profiles in the report are
• Medtronic Plc. (Ireland)
• AliveCor Inc. (US)
• LifeWatch AG (Switzerland)
• OMRON Healthcare (Japan)
• iRhythm Technologies Ltd. (US)
• Lohman Technologies (US)
• Suzuken Co. Ltd. (Japan)
• Zenicor Medical Systems AB (Sweden)
• Tianjin Chase Sun Pharmaceutical Co., Ltd. (China)
• Reka Health Pte Ltd (Singapore).
By Product type
o Recording based Single lead ECG Equipment
o Real time single lead ECG equipment
o Other Indications
By End User
o Ambulatory Surgical Centers (ASCs)
o Hospitals & Clinics
o North America
• Rest of Europe
• Australia & New Zealand
• ASEAN (Includes Indonesia, Thailand, Vietnam, Philippines, Malaysia, and Others)
• South Korea
• Rest of Asia-Pacific
o Latin America
• Rest of Latin America
o Middle East and Africa (MEA)
• Gulf Cooperation Council (GCC) Countries
• South Africa
• Rest of MEA
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