A New-Era of Digital Health in Cardiac Monitoring has Begun Post Pandemic; Smart Wearables, AI-based ECG Becoming Integral Part of Ambulatory Cardiovascular Medical Practices; The Global Wearable ECG Devices Market to Witness Sales of $35 Billion by 2027 - Arizton

CHICAGO, Jan. 17, 2023 /PRNewswire/ -- According to Arizton's latest research report, the global wearable ECG devices market will grow at a CAGR of 19.32% during 2021-2027. The growth of the global wearable ECG devices market is anticipated to be driven by the growing adoption of cutting-edge sensors and AI-based wearable ECG devices with widely accessible clinical data. Additionally, vendors' increased emphasis on inorganic growth strategies is probably going to lead to significant product innovations, which will favorably impact the market development of wearable ECG devices globally.

The global wearable ECG devices market is expected to grow significantly during the forecast period due to growing technological advancements, new product launches & approvals, and the rising adoption of smart wearables by the young generation. An increase in the incidence of CVDs has led to a growing volume of diagnosis across the globe. As the demand for continuous monitoring among patients is increasing, vendors are coming up with new technologically advanced devices with higher diagnostic yields and user-friendly devices.

Innovations are firmly rooted in everyday life, and consumers are beginning to use software and hardware to manage their health. The recent trend of smart wearable devices is gaining popularity across the globe. The adoption of the smart wearable is highly boosted due to the impact of COVID-19. A new era of consumer-centric health has begun, bringing great future benefits to preventing, diagnosing, and treating cardiovascular diseases. Currently, several challenges are hampering the spread of wearable technology in clinical practice. With further sensor and computer technology development, wearables will process more complex functions and become an integral part of cardiovascular medical practices.

Global Wearable ECG Devices Market Report Scope

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Geographical Insights

North America is a major revenue contributor and accounts for 34.08% share of the global wearable ECG devices market. The region is the fastest-growing market for wearable ECG devices. North America offers tremendous opportunities for the players to boom in the market. The presence of a large pool of patients with atrial fibrillation requiring cardiac monitoring devices, higher acceptance of advanced and innovative wearable ECG devices, and high awareness toward the availability of advanced treatment options using devices for AF and stroke have collectively supported North America's dominance in the global market. Moreover, the region is the single largest market for wearable ECG devices, thus becoming strategically important to many prominent market players such as GE Healthcare, Koninklijke Philips, and others. For instance, GE Healthcare offers SEER 1000, SEER 12 Digital Holter ECG Recorder. Koninklijke Philips offers Holter Monitoring DigiTrak XT Holter System and Holter Monitoring Software. The Holter Monitoring DigiTrak XT Holter System is a sleek, streamlined recorder that is intended for patient comfort and streamlined workflows for all users. In addition, the Holter Monitoring Software can record, analyze, diagnose, and communicate ECG data quickly and accurately.

Vendor Insights

There are many emerging companies trying to compete in the patch-based wearable ECG devices market segment. Large medical device companies are adopting an acquisition strategy to invest or partner with many emerging vendors to diversify their product portfolio and strengthen their presence in the overall wearable ECG devices market. For instance, Philips acquired BioTelemetry, a leading vendor in the mobile cardiac telemetry segment, in February 2021. Similarly, Boston Scientific acquired Preventice Solutions in January 2021. This acquisition is likely to strengthen Boston Scientific, especially in the ambulatory wearable ECG device segment. Baxter International acquired Hill-Rom Services in December 2021. In May 2014, Medtronic acquired Corventis, focusing on the development of wireless cardiac monitoring patches.

ECG-Based Smartwatches: Key Company Profiles

• Apple
• Alphabet
• Samsung Electronics
• Withings

Other Wearable ECG Devices: Key Company Profiles

• Boston Scientific
• GE Healthcare
• iRhythm Technologies
• Hill-Rom
• Koninklijke Philips
• OSI Systems

Other Prominent Vendors

• BPL Medical Technologies
• Bardy Diagnostics
• Bittium
• CardiacSense
• Cortrium
• FUKUDA DENSHI
• Masimo
• Medicalgorithmics
• Advanced Instrumentations
• AMEDTEC MEDIZINTECHNIK AUE
• ASPEL
• Hangzhou Beneware Medical Equipment
• Biotricity
• Borsam Biomedical Instruments
• BTL
• Contec Medical System
• Custo Med
• Oy Diagnostic Devices Development – DDD
• DMS-Service
• EB-Neuro
• Edan Instruments
• Forest Medical
• Holter Supplies
• Labtech
• LPU Medical
• LIVEWELL
• Lumed
• medical ECONET
• Medicomp
• Meditech KFT
• Meditech Equipment
• Midmark
• Monitor
• Nasan Medical Electronics
• Nasiff Associates
• Neurosoft
• Norav Medical
• Northeast Monitoring
• Recorders & Medicare Systems
• Scottcare Cardiovascular Solutions
• Schiller
• Shenzhen Biocare Bio-Medical Equipment
• Suzuken Company
• Trimpeks
• UPOLife
• VivaLNK

Market Segmentation

Product

• Smartwatch-Based ECG
• Mobile Cardiac Telemetry
• Holter Monitoring
• Cardiac Event Monitoring

Frequency

• Episodic & Adhoc
• Continuous

Geography

• APAC
• China
• India
• Japan
• South Korea
• Australia
• Europe
• Germany
• Italy
• Spain
• France
• UK
• North America
• US
• Canada
• Latin America
• Brazil
• Mexico
• Argentina
• Middle East & Africa
• Turkey
• South Africa
• South Arabia

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Table of Content

1 RESEARCH METHODOLOGY

2 RESEARCH OBJECTIVES

3 RESEARCH PROCESS

4 SCOPE & COVERAGE

4.1 MARKET DEFINITION

4.1.1 INCLUSIONS

4.1.2 EXCLUSIONS

4.1.3 MARKET ESTIMATION CAVEATS

4.2 BASE YEAR

4.3 SCOPE OF THE STUDY

4.3.1 MARKET SEGMENTATION BY GEOGRAPHY

5 REPORT ASSUMPTIONS & CAVEATS

5.1 KEY CAVEATS

5.2 CURRENCY CONVERSION

5.3 MARKET DERIVATION

6 MARKET AT A GLANCE

7 INTRODUCTION

7.1 OVERVIEW

7.1.1 WEARABLE ECG DEVICES

8 PREMIUM INSIGHTS

8.1 MARKET SCENARIO

8.1.1 OVERVIEW

8.1.2 MARKET SEGMENTATION

9 MARKET OPPORTUNITIES & TRENDS

9.1 INCREASING USE OF ADVANCED SENSORS & AI IN WEARABLE ECG DEVICES

9.2 EMERGENCE OF SMARTWATCHES EQUIPPED WITH ECG

9.3 NEW PRODUCT APPROVALS & LAUNCHES IN WEARABLE ECG DEVICES

9.4 GROWING POPULARITY OF SMART WEARABLE TECHNOLOGY IN ECG

10 MARKET GROWTH ENABLERS

10.1 INCREASING GLOBAL PREVALENCE OF CARDIOVASCULAR DISEASES

10.2 PARADIGM SHIFT FROM CONVENTIONAL ECG TOWARD AMBULATORY ECG

10.3 HIGH DEMAND FOR MCT & NEXT-GENERATION HOLTER MONITORS

11 MARKET GROWTH RESTRAINTS

11.1 LIMITATIONS & RISKS ASSOCIATED WITH WEARABLE ECG DEVICES

11.2 HIGH COST OF WEARABLE ECG DEVICES

11.3 AVAILABILITY OF ALTERNATE CARDIAC MONITORING DEVICES

12 MARKET LANDSCAPE

12.1 MARKET OVERVIEW

12.2 MARKET SIZE & FORECAST

12.2.1 GEOGRAPHY INSIGHTS

12.2.2 PRODUCT INSIGHTS

12.2.3 FREQUENCY INSIGHTS

12.3 FIVE FORCES ANALYSIS

12.3.1 THREAT OF NEW ENTRANTS

12.3.2 BARGAINING POWER OF SUPPLIERS

12.3.3 BARGAINING POWER OF BUYERS

12.3.4 THREAT OF SUBSTITUTES

12.3.5 COMPETITIVE RIVALRY

13 PRODUCT

13.1 MARKET SNAPSHOT & GROWTH ENGINE

13.2 MARKET OVERVIEW

13.3 SMARTWATCH-BASED ECG

13.3.1 MARKET OVERVIEW

13.3.2 MARKET SIZE & FORECAST

13.3.3 MARKET BY GEOGRAPHY

13.4 MOBILE CARDIAC TELEMETRY

13.4.1 MARKET OVERVIEW

13.4.2 MARKET SIZE & FORECAST

13.4.3 MARKET BY GEOGRAPHY

13.5 HOLTER MONITORING

13.5.1 MARKET OVERVIEW

13.5.2 MARKET SIZE & FORECAST

13.5.3 MARKET BY GEOGRAPHY

13.6 CARDIAC EVENT MONITORING

13.6.1 MARKET OVERVIEW

13.6.2 MARKET SIZE & FORECAST

13.6.3 MARKET BY GEOGRAPHY

14 FREQUENCY

14.1 MARKET SNAPSHOT & GROWTH ENGINE

14.2 MARKET OVERVIEW

14.3 EPISODIC & ADHOC

14.3.1 MARKET OVERVIEW

14.3.2 MARKET SIZE & FORECAST

14.3.3 MARKET BY GEOGRAPHY

14.4 CONTINUOUS

14.4.1 MARKET OVERVIEW

14.4.2 MARKET SIZE & FORECAST

14.4.3 MARKET BY GEOGRAPHY

15 GEOGRAPHY

15.1 MARKET SNAPSHOT & GROWTH ENGINE

15.2 GEOGRAPHIC OVERVIEW

16 NORTH AMERICA

16.1 MARKET OVERVIEW

16.1.1 MARKET SIZE & FORECAST

16.1.2 NORTH AMERICA: PRODUCT SEGMENTATION

16.1.3 NORTH AMERICA: FREQUENCY SEGMENTATION

16.2 KEY COUNTRIES

16.2.1 US: MARKET SIZE & FORECAST

16.2.2 CANADA: MARKET SIZE & FORECAST

17 EUROPE

17.1 MARKET OVERVIEW

17.1.1 MARKET SIZE & FORECAST

17.1.2 EUROPE: PRODUCT SEGMENTATION

17.1.3 EUROPE: FREQUENCY SEGMENTATION

17.2 KEY COUNTRIES

17.2.1 GERMANY: MARKET SIZE & FORECAST

17.2.2 FRANCE: MARKET SIZE & FORECAST

17.2.3 UK: MARKET SIZE & FORECAST

17.2.4 ITALY: MARKET SIZE & FORECAST

17.2.5 SPAIN: MARKET SIZE & FORECAST

18 APAC

18.1 MARKET OVERVIEW

18.1.1 MARKET SIZE & FORECAST

18.1.2 APAC: PRODUCT SEGMENTATION

18.1.3 APAC: FREQUENCY SEGMENTATION

18.2 KEY COUNTRIES

18.2.1 JAPAN: MARKET SIZE & FORECAST

18.2.2 CHINA: MARKET SIZE & FORECAST

18.2.3 INDIA: MARKET SIZE & FORECAST

18.2.4 SOUTH KOREA: MARKET SIZE & FORECAST

18.2.5 AUSTRALIA: MARKET SIZE & FORECAST

19 LATIN AMERICA

19.1 MARKET OVERVIEW

19.1.1 MARKET SIZE & FORECAST

19.1.2 LATIN AMERICA: PRODUCT SEGMENTATION

19.1.3 LATIN AMERICA: FREQUENCY SEGMENTATION

19.2 KEY COUNTRIES

19.2.1 BRAZIL: MARKET SIZE & FORECAST

19.2.2 MEXICO: MARKET SIZE & FORECAST

19.2.3 ARGENTINA: MARKET SIZE & FORECAST

20 MIDDLE EAST & AFRICA

20.1 MARKET OVERVIEW

20.1.1 MARKET SIZE & FORECAST

20.1.2 MIDDLE EAST & AFRICA: PRODUCT SEGMENTATION

20.1.3 MIDDLE EAST & AFRICA: FREQUENCY SEGMENTATION

20.2 KEY COUNTRIES

20.2.1 TURKEY: MARKET SIZE & FORECAST

20.2.2 SAUDI ARABIA: MARKET SIZE & FORECAST

20.2.3 SOUTH AFRICA: MARKET SIZE & FORECAST

21 COMPETITIVE LANDSCAPE

21.1 COMPETITION OVERVIEW

21.2 MARKET SHARE ANALYSIS

22 ECG-BASED SMARTWATCHES: KEY COMPANY PROFILES

22.1 APPLE

22.1.1 BUSINESS OVERVIEW

22.1.2 APPLE IN WEARABLE ECG DEVICES MARKET

22.1.3 PRODUCT OFFERINGS

22.1.4 KEY STRATEGIES

22.1.5 KEY STRENGTHS

22.1.6 KEY OPPORTUNITIES

22.2 ALPHABET

22.2.1 BUSINESS OVERVIEW

22.2.2 ALPHABET IN WEARABLE ECG DEVICES MARKET

22.2.3 PRODUCT OFFERINGS

22.2.4 KEY STRATEGIES

22.2.5 KEY STRENGTHS

22.2.6 KEY OPPORTUNITIES

22.3 SAMSUNG ELECTRONICS

22.3.1 BUSINESS OVERVIEW

22.3.2 SAMSUNG ELECTRONICS IN WEARABLE ECG DEVICES MARKET

22.3.3 PRODUCT OFFERINGS

22.3.4 KEY STRATEGIES

22.3.5 KEY STRENGTHS

22.3.6 KEY OPPORTUNITIES

22.4 WITHINGS

22.4.1 BUSINESS OVERVIEW

22.4.2 WITHINGS IN WEARABLE ECG DEVICES MARKET

22.4.3 PRODUCT OFFERINGS

22.4.4 KEY STRATEGIES

22.4.5 KEY STRENGTHS

22.4.6 KEY OPPORTUNITIES

23 OTHER WEARABLE ECG DEVICES: KEY COMPANY PROFILES

23.1 BOSTON SCIENTIFIC

23.1.1 BUSINESS OVERVIEW

23.1.2 BOSTON SCIENTIFIC IN WEARABLE ECG DEVICES MARKET

23.1.3 PRODUCT OFFERINGS

23.1.4 KEY STRATEGIES

23.1.5 KEY STRENGTHS

23.1.6 KEY OPPORTUNITIES

23.2 GE HEALTHCARE

23.2.1 BUSINESS OVERVIEW

23.2.2 GE HEALTHCARE IN WEARABLE ECG DEVICES MARKET

23.2.3 PRODUCT OFFERINGS

23.2.4 KEY STRATEGIES

23.2.5 KEY STRENGTHS

23.2.6 KEY OPPORTUNITIES

23.3 IRHYTHM TECHNOLOGIES

23.3.1 BUSINESS OVERVIEW

23.3.2 IRHYTHM TECHNOLOGIES IN WEARABLE ECG DEVICES MARKET

23.3.3 PRODUCT OFFERINGS

23.3.4 KEY STRATEGIES

23.3.5 KEY STRENGTHS

23.3.6 KEY OPPORTUNITIES

23.4 HILL-ROM

23.4.1 BUSINESS OVERVIEW

23.4.2 HILL-ROM IN WEARABLE ECG DEVICES MARKET

23.4.3 PRODUCT OFFERINGS

23.4.4 KEY STRATEGIES

23.4.5 KEY STRENGTHS

23.4.6 KEY OPPORTUNITIES

23.5 KONINKLIJKE PHILIPS

23.5.1 BUSINESS OVERVIEW

23.5.2 KONINKLIJKE PHILIPS IN WEARABLE ECG DEVICES MARKET

23.5.3 PRODUCT OFFERINGS

23.5.4 KEY STRATEGIES

23.5.5 KEY STRENGTHS

23.5.6 KEY OPPORTUNITIES

23.6 OSI SYSTEMS

23.6.1 BUSINESS OVERVIEW

23.6.2 OSI SYSTEMS IN WEARABLE ECG DEVICES MARKET

23.6.3 PRODUCT OFFERINGS

23.6.4 KEY STRATEGIES

23.6.5 KEY STRENGTHS

23.6.6 KEY OPPORTUNITIES

24 OTHER PROMINENT VENDORS

24.1 AEROTEL MEDICAL SYSTEMS

24.1.1 BUSINESS OVERVIEW

24.1.2 PRODUCT OFFERINGS

24.2 ADVANCED INSTRUMENTATIONS

24.2.1 BUSINESS OVERVIEW

24.2.2 PRODUCT OFFERINGS

24.3 AMEDTEC MEDIZINTECHNIK AUE

24.3.1 BUSINESS OVERVIEW

24.3.2 PRODUCT OFFERINGS

24.4 ASPEL

24.4.1 BUSINESS OVERVIEW

24.4.2 PRODUCT OFFERINGS

24.5 BPL MEDICAL TECHNOLOGIES

24.5.1 BUSINESS OVERVIEW

24.5.2 PRODUCT OFFERINGS

24.6 BARDY DIAGNOSTICS

24.6.1 BUSINESS OVERVIEW

24.6.2 PRODUCT OFFERINGS

24.7 BITTIUM

24.7.1 BUSINESS OVERVIEW

24.7.2 PRODUCT OFFERINGS

24.8 BIOTRICITY

24.8.1 BUSINESS OVERVIEW

24.8.2 PRODUCT OFFERINGS

24.9 BORSAM BIOMEDICAL INSTRUMENTS

24.9.1 BUSINESS OVERVIEW

24.9.2 PRODUCT OFFERINGS

24.10 BTL

24.10.1 BUSINESS OVERVIEW

24.10.2 PRODUCT OFFERINGS

24.11 CARDIACSENSE

24.11.1 BUSINESS OVERVIEW

24.11.2 PRODUCT OFFERINGS

24.12 CORTRIUM

24.12.1 BUSINESS OVERVIEW

24.12.2 PRODUCT OFFERINGS

24.13 CONTEC MEDICAL SYSTEMS

24.13.1 BUSINESS OVERVIEW

24.13.2 PRODUCT OFFERINGS

24.14 CUSTO MED

24.14.1 BUSINESS OVERVIEW

24.14.2 PRODUCT OFFERINGS

24.15 DMS-SERVICE

24.15.1 BUSINESS OVERVIEW

24.15.2 PRODUCT OFFERINGS

24.16 EB NEURO

24.16.1 BUSINESS OVERVIEW

24.16.2 PRODUCT OFFERINGS

24.17 EDAN INSTRUMENTS

24.17.1 BUSINESS OVERVIEW

24.17.2 PRODUCT OFFERINGS

24.18 FUKUDA DENSHI

24.18.1 BUSINESS OVERVIEW

24.18.2 PRODUCT OFFERINGS

24.19 FOREST MEDICAL

24.19.1 BUSINESS OVERVIEW

24.19.2 PRODUCT OFFERINGS

24.20 HANGZHOU BENEWARE MEDICAL EQUIPMENT

24.20.1 BUSINESS OVERVIEW

24.20.2 PRODUCT OFFERINGS

24.21 HOLTER SUPPLIES

24.21.1 BUSINESS OVERVIEW

24.21.2 PRODUCT OFFERINGS

24.22 LABTECH

24.22.1 BUSINESS OVERVIEW

24.22.2 PRODUCT OFFERINGS

24.23 LEPU MEDICAL TECHNOLOGY

24.23.1 PRODUCT OFFERINGS

24.24 LIVEWELL

24.24.1 BUSINESS OVERVIEW

24.24.2 PRODUCT OFFERINGS

24.25 LUMED

24.25.1 BUSINESS OVERVIEW

24.25.2 PRODUCT OFFERINGS

24.26 MASIMO

24.26.1 BUSINESS OVERVIEW

24.26.2 PRODUCT OFFERINGS

24.27 MEDICALGORITHMICS

24.27.1 BUSINESS OVERVIEW

24.27.2 PRODUCT OFFERINGS

24.28 MEDICAL ECONET

24.28.1 BUSINESS OVERVIEW

24.28.2 PRODUCT OFFERINGS

24.29 MEDICOMP

24.29.1 BUSINESS OVERVIEW

24.29.2 PRODUCT OFFERINGS

24.30 MEDITECH KFT

24.30.1 BUSINESS OVERVIEW

24.30.2 PRODUCT OFFERINGS

24.31 MEDITECH EQUIPMENT

24.31.1 BUSINESS OVERVIEW

24.31.2 PRODUCT OFFERINGS

24.32 MIDMARK

24.32.1 BUSINESS OVERVIEW

24.32.2 PRODUCT OFFERINGS

24.33 MONITOR

24.33.1 BUSINESS OVERVIEW

24.33.2 PRODUCT OFFERINGS

24.34 NASAN MEDICAL ELECTRONICS

24.34.1 BUSINESS OVERVIEW

24.34.2 PRODUCT OFFERINGS

24.35 NASIFF ASSOCIATES

24.35.1 BUSINESS OVERVIEW

24.35.2 PRODUCT OFFERINGS

24.36 NEUROSOFT

24.36.1 BUSINESS OVERVIEW

24.36.2 PRODUCT OFFERINGS

24.37 NORAV MEDICAL

24.37.1 BUSINESS OVERVIEW

24.37.2 PRODUCT OFFERINGS

24.38 NORTHEAST MONITORING

24.38.1 BUSINESS OVERVIEW

24.38.2 PRODUCT OFFERINGS

24.39 OY DIAGNOSTIC DEVICES DEVELOPMENT – DDD

24.39.1 BUSINESS OVERVIEW

24.39.2 PRODUCT OFFERINGS

24.40 RECORDERS & MEDICARE SYSTEMS

24.40.1 BUSINESS OVERVIEW

24.40.2 PRODUCT OFFERINGS

24.41 SCOTTCARE CARDIOVASCULAR SOLUTIONS

24.41.1 BUSINESS OVERVIEW

24.41.2 PRODUCT OFFERINGS

24.42 SCHILLER

24.42.1 BUSINESS OVERVIEW

24.42.2 PRODUCT OFFERINGS

24.43 SHENZHEN BIOCARE BIO-MEDICAL EQUIPMENT

24.43.1 BUSINESS OVERVIEW

24.43.2 PRODUCT OFFERINGS

24.44 SUZUKEN COMPANY

24.44.1 BUSINESS OVERVIEW

24.44.2 PRODUCT OFFERINGS

24.45 TRIMPEKS

24.45.1 BUSINESS OVERVIEW

24.45.2 PRODUCT OFFERINGS

24.46 UPOLIFE

24.46.1 BUSINESS OVERVIEW

24.46.2 PRODUCT OFFERINGS

24.47 VIVALNK

24.47.1 BUSINESS OVERVIEW

24.47.2 PRODUCT OFFERINGS

25 REPORT SUMMARY

25.1 KEY TAKEAWAYS

25.2 STRATEGIC RECOMMENDATIONS

26 QUANTITATIVE SUMMARY

26.1 MARKET BY PRODUCT

26.1.1 NORTH AMERICA: PRODUCT SEGMENTATION

26.1.2 EUROPE: PRODUCT SEGMENTATION

26.1.3 APAC: PRODUCT SEGMENTATION

26.1.4 LATIN AMERICA: PRODUCT SEGMENTATION

26.1.5 MIDDLE EAST & AFRICA: PRODUCT SEGMENTATION

26.2 MARKET BY FREQUENCY

26.2.1 NORTH AMERICA: FREQUENCY SEGMENTATION

26.2.2 EUROPE: FREQUENCY SEGMENTATION

26.2.3 APAC: FREQUENCY SEGMENTATION

26.2.4 LATIN AMERICA: FREQUENCY SEGMENTATION

26.2.5 MIDDLE EAST & AFRICA: FREQUENCY SEGMENTATION

26.3 MARKET BY GEOGRAPHY

26.3.1 SMARTWATCH-BASED ECG: GEOGRAPHY SEGMENTATION

26.3.2 MOBILE CARDIAC TELEMETRY: GEOGRAPHY SEGMENTATION

26.3.3 HOLTER MONITORING: GEOGRAPHY SEGMENTATION

26.3.4 CARDIAC EVENT MONITORING: GEOGRAPHY SEGMENTATION

26.3.5 EPISODIC & ADHOC: GEOGRAPHY SEGMENTATION

26.3.6 CONTINUOUS: GEOGRAPHY SEGMENTATION

27 APPENDIX

27.1 ABBREVIATIONS

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