Global Mobile ECG Devices Market: Overview
Electrocardiogram (ECG) is the first test to be performed in case of cardiovascular problems or symptoms of problems of heart. It is a device used to measure heart activity. Conventional ECG devices are tedious and time consuming. Hence, portable mobile ECG devices are gaining popularity due to ease of use, convenience, and non-invasive method. Mobile ECG device is a wireless system with data transmission capabilities through Bluetooth and other advanced technologies. It can be connected to mobiles, tablets, and mobile applications which can send data to storage devices used for analysis by physicians and medical personnel. The device is easy to carry, lightweight, safe, and reliable source for diagnosis as well as monitoring of heart activities.
Global Mobile ECG Devices Market: Key Trends
Rise in the geriatric population and increase in incidence of cardiovascular diseases due to changing lifestyles are the major factors fueling the growth of the global mobile ECG devices market. According to the WHO, cardiovascular diseases account for 17.9 million, or 31%, of global deaths each year. According to the Centers for Disease Control and Prevention (CDC), high blood pressure, high cholesterol, and smoking are the key risk factors for heart diseases, and around 47% people in the U.S. have at least one of these three risk factors. Increase in awareness about heart diseases, surge in health care expenditure, and inclination of people toward more sophisticated & advanced ECG devices due to less hospital stay and portability are also propelling the global mobile ECG devices market. However, unfavorable reimbursement policies and technical issues related with device & technology are the factors hampering the growth of the global mobile ECG devices market.
Global Mobile ECG Devices Market: Segmentation
The global mobile ECG devices market can be segmented based on modality, product type, end-user, and region. In terms of modality, the global market can be classified into pen, band, and handheld. The handheld segment held the major market share in 2018 due to wide applications in cardiac disease diagnosis and ease of carrying. Based on product type, the global mobile ECG devices market can be bifurcated into monitoring ECG systems and diagnostic ECG systems. The monitoring ECG systems segment dominated the global market in 2018 and is projected to sustain its leadership position during the forecast period owing to rise in incidence rate of cardiovascular diseases and increase in the geriatric population. In terms of end-user, the global market can be categorized into hospitals, ambulatory services, clinics, and personal users. Personal users segment is dominant and is expected to grow with a significant CAGR during the forecast period. Rising incidence rate of cardiovascular diseases, rising concerns regarding cardiac health and continuous monitoring of cardiac diseases are some of the major factors attributed to growth of personal users segment.
Global Mobile ECG Devices Market: Regional Analysis
In terms of region, the global mobile ECG devices market can be segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America dominated the global mobile ECG devices market in 2018. Increase in incidence rate of cardiac diseases, high health care expenditure, technologically advanced products, and well-established health care infrastructure in the region are the major factors driving the market in the region. The market in Asia Pacific is projected to expand at a high CAGR during the forecast period due to high prevalence of heart diseases, rise in awareness about cardiac diseases, increase in the geriatric population, and surge in per capita health care expenditure in emerging economies.
Global Mobile ECG Devices Market: Competitive Landscape
The global mobile ECG devices market is highly competitive due to presence of major companies. Key players operating in the global market include MD Biomedical, Inc., General Electric Company, Thor Laboratories, CardioComm Solutions, Inc., GETEMED Medizin- und Informationstechnik AG, Koninklijke Philips N.V., BPL Medical Technologies, AliveCor, Inc., Nihon Kohden Corporation, and EB Neuro S.p.A.
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