Diagnostic Electrocardiograph (ECG) Market worth $5,435 Million by 2020
DALLAS, June 25, 2014 /PRNewswire/ --
The report "Diagnostic Electrocardiograph (ECG) Market by Product (Resting, Stress, Holter Monitor), End-user (Hospitals, Home/Ambulatory, Research Center, Physician Office, Nursing Homes), Lead Type (Single, 3-6, 12) - Global Forecast to 2020" published by MarketsandMarkets, provides a detailed overview of the major drivers, restraints, challenges, opportunities, current market trends, and strategies impacting the global diagnostic ECG market along with the estimates and forecasts of the revenue and share analysis.
Browse 44 market data tables and 7 figures spread through 120 pages and in-depth TOC on"Diagnostic Electrocardiograph (ECG) Market - Global Forecast to 2020"
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The global diagnostic ECG market expected to reach $5,435 million by 2020 growing at a CAGR of 5.7% during the forecast period (2013-2020).
The global diagnostic ECG market by product is segregated into three main segments, namely, resting system, stress system, and Holter monitor system. The driving factors of the diagnostic ECG market include the growing size of the geriatric population, rising incidences of lifestyle diseases, and technological developments. The resting system segment had the largest share in 2013 of the global diagnostic ECG market, whereas the Holter monitor system segment will be the fastest growing segment by 2020.The technological innovations and developments of products are contributing to the growth in the global diagnostic ECG market.
Depending upon the type of leads used, the global Diagnostic Electrocardiograph (ECG) Market by Lead type is divided as single lead, 3-6 lead, 12 lead. The 3-6 lead segment in the global diagnostic ECG market accounted for largest market share in 2013. It is expected to grow at the fastest pace in the forecast period and occupy the leadership position by 2020. The 12 lead segment was the second leading segment after the 3-6 lead segment. The increase in the number of leads has enabled the physicians to have a convenient and holistic view of the patient's medical condition.
The North American diagnostic ECG market accounted for the highest share in 2013 and is poised to grow from 2013 to 2020. The major growth factors contributing to the growth of the North American market are the aging population and lifestyle diseases that are further adding to the overall prevalence of cardiac diseases. Europe, on the other hand, witnesses a slow growth in the forecast period. The growth of this region is expected to be sluggish with a lower CAGR due to factors such as the uneven reimbursement policies. APAC is expected to grow at a higher CAGR over the forecast period. The high population base and improved purchasing power of patients will be the major drivers of this market. Moreover, the economic instability in the western countries enables the companies to focus on the APAC region in order to meet their revenue targets.
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The key players in the global diagnostic ECG market are GE Healthcare (U.K.), Philips Healthcare (Netherlands), Mindray Medical (China), Mortara Instrument Inc. (U.S.), Spacelabs Healthcare (U.S), Schiller AG (Switzerland), Cardionet (U.S.), Compumed Inc. (U.S.), Nihon Kohden Corporation (Japan), and Welch Allyn (U.S.).
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