The Global Mobile ECG Devices Market was valued at USD 93.82 Billion in 2021 and is projected to reach USD 161.81 Billion by 2030, growing at a CAGR of 7.86% from 2022 to 2030.
The mobile ecg devices market is made up of sales of ECG devices by entities (organisations, sole proprietorships, and partnerships) that record heart activities via electric signals amplified on an ECG monitor. The devices are used to diagnose various types of heart diseases and arrhythmias in a person's body and thus aid in the appropriate therapy. The mobile ecg devices market is made up of revenue from the company that manufactures ECG devices.
Monitoring ECG systems and diagnostic ECG systems are the two most common product types in the ECG devices market. Monitoring ECG systems capture the electrical signal of the heart to detect various heart conditions. The different lead types include single-lead ECG, 3-6 lead ECG, and 12-lead ECG, and they use multiple technologies such as portable ECG systems and wireless ECG systems. It is used in various settings, including hospitals and home care settings.
Market Dynamics
Drivers:
The global Mobile Ecg Devices Market is anticipated to expand during the forecast period due to the increased prevalence of cardiovascular diseases (CVDs). The Heart Disease and Stroke Statistics 2018 report from the American Heart Association estimates that XX million adults in the US are affected by CVD or the effects of a stroke. Additionally, it is anticipated that an increase in the number of elderly people would contribute to the rise of mobile ecg devices market.
Restraints:
The global Mobile Ecg Devices market is expected to be hampered by a lengthy medical device approval process. The United States Food and Drug Administration (FDA) has implemented rules for in-vitro testing of electrocardiogram (ECG) devices, which include environmental testing, software testing, electrical safety, and electromagnetic compatibility. Furthermore, due to the complexity and volume of medical device marketing submissions, the time required to process and approve 510(K) increased from 90 to 140 days.
Key players:
Market Segmentation:
Mobile Ecg Devices Market, By Product Type
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Remote Data Monitoring
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Event Monitoring
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Continuous Cardiovascular Monitoring Systems
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Rest ECG Systems
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Stress ECG Systems
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Holter ECG Systems
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Mobile Ecg Devices Market, By End-User
Mobile Ecg Devices Market, By Regional Outlook
North America
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U.S.
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Canada
Europe
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U.K.
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Germany
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France
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Spain
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Rest of Europe
Latin America
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Mexico
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Brazil
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Rest of Latin America
Asia-Pacific
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India
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Japan
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China
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Australia
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South Korea
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Rest of Asia-Pacific
The Middle East & Africa (MEA)
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Gulf Cooperation Council (GCC)
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South Africa
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Rest of the Middle East & Africa
Regional Analysis:
The global ECG devices market can be divided into North America, Europe, Latin America, Asia Pacific and the Middle East and Africa. North America is expected to dominate the mobile ecg devices market during the forecast period due to the rising prevalence of cardiovascular disease, rising adoption of sedentary lifestyles, and increasing healthcare organization awareness of novel technologies used for the early detection of cardiac-related issues.
On the other hand, the Asia Pacific region is expected to have the Robust CAGR during the forecast period due to an increase in the geriatric patient pool, increased government investments in providing better healthcare infrastructure, and the growing adoption of innovative technology in emerging nations.
Scope of the Report:
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Report Coverage |
Details |
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Base year |
2021 |
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Forecast period |
2022-2030 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 7.86% |
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YoY growth (%) |
XX% |
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Regional analysis |
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Current Market size |
USD 93.82 Billion |
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Companies Covered |
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User
Tab Content
Introduction
Our market research is an extensive, iterative process that takes into account a combination of primary and secondary research tools with the aim of minimizing deviation and producing the most precise estimate and prediction. For the future course of action, this approach meticulously outlines the actual changes and industry trends. It gives incredibly valuable data that is drawn from the insights and opinions of analysts and professionals. Our papers include in-depth research and analysis based on several factual inputs obtained from expert interviews, accurate data, and local information.
Market Size Estimation
The overall size of the market has been estimated and validated using both top-down and bottom-up methods. The sizes of other market subsegments have also been thoroughly estimated using these methodologies.
In the top-down technique, the market is divided into segments based on the percentage share of each segment. This method assisted in determining the size of each segment's market. The market size of each segment and its sub-segments was then divided into regional market sizes. This Approach helps mainly with the new Product Launch. It uses Multi-variate Regression Model coupled with Vendor based primary research inputs to forecast to the Market Size.
In the Bottom-Up approach, comprehensive study of key players has to be done wherein we add the market size of the major key players to understand the national market size which helps to determine the regional market size and eventually the complete market size. Companies annual report along with data from paid and unpaid resources like reports from government agencies and organizations like world bank provide the data for this approach.
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