Rockville, Jan. 05, 2023 (GLOBE NEWSWIRE) -- The global ECG telemetry devices market is valued at US$ 2.65 billion in 2023 and is predicted to reach US$ 5.72 billion by 2033, as per a new industry analysis by Fact.MR, a market research and competitive intelligence provider.
A type of gadget called an ECG telemetry device is used to track and record the electrical activities of the heart. It works by detecting the electrical impulses that are produced when cardiac tissue polarises and depolarizes and translating them into waveforms. This method is typically used to identify cardiac irregularities and to examine how a medicine or heart-controlling device is working. The ECG telemetry device can identify complicated dysrhythmias and myocardial ischemia.
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The market for electrocardiography (ECG) telemetry devices is boosting due to the increasing demand for home care monitoring devices, respective governments’ intervention to provide quality medical devices at an affordable price, growing demand for miniature and telemetry devices, and the rapidly developing global healthcare industry.
Key Takeaways from Market Study
- Global demand for ECG telemetry devices is expected to increase at a CAGR of 8% from 2023 to 2033.
- Sales of resting ECG devices are expected to rise at a CAGR of 9% during the forecast period.
- Demand for stress ECG devices is predicted to expand at a CAGR of 7% during the next 10 years.
- China’s market for ECG telemetry devices is predicted to expand at a CAGR of 12% during the projected period.
Winning Strategy
Key manufacturers of ECG telemetry devices are developing advanced portable and wireless ECG devices, and for that, they are highly investing in R&D activities. Such developments by the leading companies are expected to boost their revenue shares and market position.
- CardioComm Solutions, Inc. received FDA authorization in February 2019 to use the GEM mobile ECG software as well as the HeartCheck CardiBeat handle head ECG device, which is used to monitor the heartbeat.
- The first 12-lead, full-service at-home ECG system for use in decentralised clinical trials was made available by Philips in January 2022.
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Competitive Landscape
Key players in the ECG telemetry devices market are Aerotel Medical Systems (1998) Ltd., Cardiac Science Corporation, GE Healthcare, Medtronic, Inc., Nihon Kohden Corporation, Philips Healthcare, Schaeffler AG (Schaeffler Group), Shenzhen Mindray Bio-Medical Electronics Co., Ltd., Siemens Healthineers, and Welch Allyn, Inc.
More small- and mid-sized businesses are anticipated to enter the market in the coming years as a result of the growing emphasis on advanced product creation and the expanding use of technologies in healthcare.
- The most portable and slimline personal ECG device "KardiaMobile Card" in the United States was introduced by AliveCor in February 2022. It is the only personal ECG that is portable enough to fit in a wallet and provides real-time heart health information whenever and wherever you need it.
Key Companies Profiled
- Aerotel Medical Systems (1998) Ltd.
- Cardiac Science Corporation
- GE Healthcare; Medtronic, Inc.
- Nihon Kohden Corporation
- Philips Healthcare
- Schaeffler AG (Schaeffler Group)
- Shenzhen Mindray Bio-Medical Electronics Co., Ltd.
- Siemens Healthineers
- Welch Allyn, Inc.
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Key Segments of ECG Telemetry Devices Industry Research
- By Product :
- Resting ECG Devices
- Stress ECG Devices
- Holter Monitors
- Event Monitoring Systems
- ECG Management Systems
- By Application :
- Arrhythmias
- Myocardial Ischemia and Infarction
- Pacemaker Monitoring
- End User :
- Home Healthcare
- Hospitals
- Clinics
- By Region :
- North America
- Latin America
- Europe
- East Asia
- South Asia & Oceania
- MEA
Furthermore, the demand for ECG telemetry devices will increase quickly during the forecast period due to the rapid technological developments in the modernization of healthcare practices and the rising research and development efforts in the medical sector.
North America and Europe are dominating marketplaces for ECG telemetry devices due to the presence of key market players. Asia Pacific is considered to be an emerging market for ECG telemetry devices due to rapid developments in healthcare facilities across the region.
More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the global ECG telemetry devices market, presenting historical demand data (2018-2022) and forecast statistics for the period of 2023-2033.
The study divulges essential insights on the market on the basis of product (resting ECG devices, stress ECG devices, Holter monitors, event monitoring systems, ECG management systems), application (arrhythmias, myocardial ischemia & infarction, pacemaker monitoring), and end user (home healthcare, hospitals, clinics), across five major regions of the world (North America, Europe, Asia Pacific, Latin America, and MEA).
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