According to a recent industry analysis by Fact.MR, a supplier of market research and competitive information, the global market for ECG telemetry devices is estimated to be worth US$ 2.65 billion in 2023 and will grow to US$ 5.72 billion by 2033.
The electrical activity of the heart is monitored and recorded using a device class called an ECG telemetry device. It operates by identifying and converting into waveforms the electrical impulses generated when heart tissue polarises and depolarizes. This technique is frequently used to spot cardiac abnormalities and check how a drug or heart-controlling device is operating. The ECG telemetry device can detect myocardial ischemia and complex dysrhythmias.
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The market for electrocardiography (ECG) telemetry devices is expanding as a result of rising home care monitoring device demand, national government initiatives to make high-quality medical equipment more affordable, rising demand for miniature and telemetry devices, and the rapidly growing global healthcare sector.
Key Takeaways from the Market Study
- From 2023 to 2033, the market for ECG telemetry devices is anticipated to grow at a CAGR of 8%.
- During the projection period, it is anticipated that sales of resting ECG devices would increase at a CAGR of 9%.
- Over the next 10 years, it is expected that demand for stress ECG equipment would increase at a CAGR of 7%.
- During the anticipated period, it is expected that China’s market for ECG telemetry devices would grow at a CAGR of 12%.
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 decentralized clinical trials was made available by Philips in January 2022.
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.
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.
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Future Prospects
The ECG telemetry devices market is poised for substantial growth in the coming years. Advancements in sensor technology, artificial intelligence, and data analytics will further enhance the accuracy and clinical utility of these devices. The integration of ECG telemetry into comprehensive remote monitoring platforms will enable more efficient healthcare delivery, reducing hospital readmissions and healthcare costs. Additionally, regulatory support for telehealth services and reimbursement policies will play a pivotal role in expanding the market.
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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