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Electrocardiography is a method of generating an electrocardiogram ECG or EKG which records the electrical activity of the heart to detect any small kind of changes in the cardiac cycle. The appearance of changes in the cardiac cycle during ECG signifies the presence of various heart abnormalities such as atrial fibrillation, myocardial ischemia, and myocardial infarction. Changing lifestyle, high-stress level, smoking, and obesity are some of the risk factors associated with heart diseases.
ECG devices can help in early diagnosis of a variety of cardiac diseases. Wearable Holter monitors and handheld ECG devices are mainly used to monitor the heart rhythm. Increasing prevalence of cardiac arrest and widespread awareness about the early diagnosis of heart diseases are anticipated to fuel the growth of ECG devices market during the forecast period.
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According to the American Heart Association (AHA), it is estimated that around 4 million patients worldwide suffer from arrhythmias. In 2019, by AliveCor, Inc. received approval from the FDA to use a Kardia Mobile, a personal ECG device to detect Bradycardia and Tachycardia. new product launches by many key players and growing technological advancements are likely to boost the growth of ECG devices market during the forecast period
Increasing prevalence of cardiovascular disease, growing elderly population, and increase in the demand for cost-effective ECG devices for diagnosis of cardiac disease are some of the factors likely to drive the growth of ECG devices market during the forecast period. Also, novel technological advances in ECG devices, improving the workflow are another major factor anticipated to fuel the growth of ECG devices market during the forecast period.
However, the high cost of heart diseases diagnosis & patient care is likely to hamper the growth of ECG devices market during the forecast period.
Some of the major companies that are present in the global ECG devices market are General Electric Company, Koninklijke Philips N.V., OSI Systems Fukuda Denshi Co Ltd., Schiller AG, Opto Circuits Limited, Medtronic, Spacelabs Healthcare Inc., Bionet, Cardiac Science, Midmark Corporation, Cardionet Inc., Omron Healthcare, Inc. among others.
· Wearable Holter Monitor
· Portable Handheld ECG
· Ambulatory surgical centers
· Diagnostic centers
· Specialty Clinics
· North America (the U.S. and Canada)
· Europe (U.K., Germany, France, Italy, Spain, Scandinavia, and Rest of Europe)
· Asia Pacific (Japan, China, India, Australia, Southeast Asia, and Rest of Asia Pacific)
· Latin America (Brazil, Mexico, and Rest of Latin America)
· Middle East & Africa (South Africa, GCC and, Rest of the Middle East & Africa)
Among product segmentation, portable handheld ECG devices segment is likely to hold the largest ECG devices market share during the projected period due to their light and compact weight, are economically feasible, and aids in real-time monitoring of a heartbeat.
Geographically, the global ECG devices market can be segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America is likely to dominate ECG Devices market during the forecast period owing to the growing prevalence of the cardiovascular disease, growing adoption of a sedentary lifestyle, and growing awareness by healthcare organization about novel technologies used for the early diagnostic of cardiac-related issues. Asia Pacific regions are anticipated to register highest CAGR during the forecast period owing to the increase in the geriatric patient pool, growing investments by government organizations in providing better healthcare infrastructure, and growing adoption of innovative technology in the emerging nations.
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