(MENAFN- Meridian Market Consultants) Reports & Insights has freshly issued a new report titled “ECG Machine Market: Opportunity Analysis and Future Assessment 2022-2030” which speaks about the market size, market potential and comprehensive understanding of the statistics concerned with the development of the respective market. The market analysts estimate that the ECG Machine Market size will elevate from 5,487.2 Mn in 2022 to 8,128.6 Mn by the year 2030, at an estimated CAGR of 5.1%. The base year considered for the study is 2020, and the market size is projected from 2022 to 2030.
The global ECG Machine market in 2020 is estimated for more than US$ 5,487.2 Mn and expected to reach at a value of US$ 8,128.6 Mn by 2028 with a significant CAGR of 5.1%.
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ECG Machine Introduction
ECG stands for electrocardiogram, which can be understood as a simple and painless medical procedure that assess electrical signals in the patient’s heart. At every beat of the heart, an electrical signal transmits through the heart, which shows if the heart is beating at a usual rate and vitality. Electrocardiogram also carries the potential to show the position and size of the heart's chambers.
Also, if an ECG test shows any abnormality, it is an indication of a heart disorder or damage. Thus, the ECG machine witnessed huge demand in the healthcare industry across the world, which is projected to propel the growth of the global ECG machine market in the near future.
An ECG test serve its utility in determining different kinds cardiovascular diseases such as irregular heartbeats, blocked arteries, heart damages, heart failure and many more, as well as an ECG test sometimes can be included in a regular checkup for middle-aged and older population across the world, as they are more prone to the heart disease in comparison to younger people.
ECG Machine Market Dynamics
At present, the global ECG machine market is observing a balanced growth in the global market along with few particular technological advancements and enhancements in the device as the key manufacturers of the market are engaged in a highly cut-throat competition.
One of the major factors that is constantly boosting the growth of the global ECG machine market is the continuously growing count of patients with cardiovascular diseases across the globe. As per the estimates of the world health organization, heart disease is one of the leading causes of fatalities worldwide. According to the estimates, cardiovascular ailments cause casualties of around 17.9 million people every year, which is 31% of all global deaths.
In addition, the adoption of sluggish and lethargic lifestyle by the population, in the present-day world, due to the desk-bound jobs, unhealthy diets and little or no physical activity is also contributing to the growing count of chronic diseases among the population worldwide, thereby elevating the demand of electrocardiogram in the healthcare industry. Therefore, the global ECG machine market is projected to witness significant growth in the forthcoming years.
The huge revolution in the healthcare industry over the past few decades has also resulted in several advancements and innovations in the medical devices and treatments provided to the patients which in turn has further paved the way for the growth of the global ECG machine market during the forecast period.
Apart from that, the major manufacturers of the global market are also aiming their attention towards innovating their devices in order to offer improved medical care to the patients across the world, which has resulted in portable and hand-held devices with more efficiency, which is also acting as a positive factor in order to fuel the growth of the global ECG machine market in the upcoming years.
However, the huge installation and maintenance cost of ECG machines may restrict the growth of the global ECG machine market in the near future. Moreover, the lack of skilled professionals with inadequate technical knowledge, particularly in the emerging regions, is also likely to hamper the growth of the global ECG machine market in the upcoming years.
Nevertheless, the rising need of the population for the enhanced medical care in the present times is estimated to augment the growth of the global ECG machine market in the coming years.
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ECG Machine Market Segmentation
The global ECG machine market is initially segmented on the basis of product and services into product and software and service. The product is further segmented into resting ECG devices, stress ECG devices, Holter monitors, implantable loop recorders, event monitors, MCT devices, and smart ECG monitors.
Then, the ECG machine market is segmented on the basis of lead type into 12-lead, 5-lead, 3-lead, 6-lead, single-lead, and other lead types.
Furthermore, the global ECG machine market is divided on the basis of end users into hospitals, clinics, cardiac centers, ambulatory surgical centers, and other end users.
At last, the global ECG machine market is segmented into North America, Latin America, Middle East, Asia-Pacific, Africa and Europe.
ECG Machine Market Key Players
Some of the key participating players of the global ECG machine market are Koninklijke Philips, GE Healthcare, Nihon Kohden, Asahi Kasei, and Hill-Rom Holdings.
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